MetaTrader 4 trading platform – reasons for popularity
MetaTrader 4 is now the most popular platform and the leader because it is very convenient and easy to use. It has several varieties that can be used by traders who trade with mobile devices – PDAs, smartphones, iPhones and others. Often brokers and brokerage companies provide their clients with their own, different from all platforms that are specific terminals, but in fact it turns out that all the specifics have been completed on the Metatrader 4.
This platform has a number of advantages that allow it to be used by a huge number of traders.
Properties of MT4
- As compared to the analogues offered by other developers, it boasts a more user-friendly interface.
- After, excellent functionality that allows you to trade comfortably and efficiently, as well as to carry out technical analysis. A trader can use indicators, quotes, graphical tools, three types of charts, as well as a newswire, which is regularly updated.
- With it, you can use nine time periods for building charts, open as many windows as you need, and test your Expert Advisors.
- If you have your own strategy, you can use it to create an Expert Advisor or new indicators. This is possible due to the fact that the MQL.
programming language is embedded into the platform
- All your transactions are confidential because you use a 128-bit encryption system that is based on a special algorithm and an electronic signature.
- You will always be aware of all quotes at the moment. Your transactions will be archived and can be viewed at any time.
- The big advantage is that the platform is free, there are no restrictions on use.
Nothing is perfect despite the large number of advantages, and this platform is no exception. It also has some disadvantages, which are not so many, but for the sake of fairness it is necessary to enumerate them too.
- The main disadvantage is that no accruals or swaps are recorded. In order to be able to control them in the future, the calculation of swaps is carried out in the history of accounts, but in fact, the fixation is carried out in the server logs. At the end of the day, your open positions will be closed, and when they open again, the price will be shifted. This is the way the banks using this terminal operate.
- Beginners are talking about an inability to maintain swaps, but you can do this with a free Expert Advisor or by changing the parameter.
Pretty much all of the disadvantages found by newbies are the result of not mastering all the tools perfectly.
Working with this platform is not difficult, it will be quickly dealt with by a trader who has just started to trade. It is convenient and simple, both for beginner and experienced trader. Technical requirements are not high, the platform can be used by anyone with a computer, laptop or mobile device.
Many Forex brokers now give you the opportunity to trade through this terminal to choose the most appropriate one, read reviews about Teletrade or Forex Club reviews, as well as read the information on the resource of your chosen company. There you will find all the information related to the software.
List of Forex brokers using the MetaTrader 4 trading platform
- Forex Club
- HY Markets
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