Since its introduction in 2005, it should not be surprising that MetaTrader 4 (MT4) has become the most widely used forex trading platform worldwide. Its developer, MetaQuotes Software, has continuously been making improvements to make the platform more powerful and secure and to add to its already impressive range new features permanently.
Once MT4 has been downloaded and set up in the trader's computer, the trader immediately has access to live price data from the forex markets. Besides, traders can also retrieve historical price data from the MT4 Historical Center that they can use to backtest their strategies and determine their effectiveness.
MT4 offers a wide range of charting options to allow traders to detect trading opportunities easily. Nine available timeframes, ranging from as short as a minute to as long as a month, help traders distinguish trends and identify patterns.
Also, there is a big assortment of technical indicators programmed into the software, ranging from simple Moving Averages to sophisticated Bollinger Bands. These indicators help in identifying the trend, entry and exit points, volumes, and risks.
The convenience of automated trading is also available as MT4 features Expert Advisors that are designed to identify market trends that could indicate a trading opportunity and alert the trader. A simple drag-and-drop interface allows traders to add indicators and EAs to their charts easily.
Once traders are ready to make a trade, they can do so quickly from the Order menu. When the position has been opened, the trader can modify it or even close it at any time. It gives the traders full control over their trading activities.
Unlike other trading platforms, the MetaTrader 4 allows locking positions: A trader might hold positions to buy and sell the same amount of the same currency at a time. Hedging positions like this enables clients to use enhanced trading strategies not available on other platforms.
MT4 also provides support for Android, iPhone, and iPad so that you can manage your trades on your tablet or smartphone from anywhere there is an Internet connection. The mobile version of the MT4 offers the same functionality as the desktop version, allowing traders to access the tools of the platform and even manage and place trades.
Since MetaTrader 4 is a tool, it doesn't provide access to trading directly but helps you to enter the financial markets with a broker. Make sure you sign in with a reliable broker and the best trading conditions.
To start trading on MetaTrader4, you can sign up with MTrading, and a personal manager will guide you through all steps from registration to placing your first order. We also offer free demo accounts to try our service and test your strategies.