Why is MetaTrader 4 (MT4) still the best option for beginner and advanced trader?

MetaTrader 4, also known as MT4, is the online trading world`s most popular trading platform. MT4 is such a favorite amongst brokers and traders that they refer to it as the gold standard of online trading platforms.

MetaTrader 4, also known as MT4, is the online trading world`s most popular trading platform. MT4 is such a favorite amongst brokers and traders that they refer to it as the gold standard of online trading platforms.

Traders use it to access fundamental and technical analysis data and to open, close, or adjust their orders. It also has beneficial real-time currency values. Any broker that wants to reach a broad audience today has to offer trading on MetaTrader 4. This trading platform has boatloads of foreign exchange currency pairs available and a wide range of indicators for traders to choose from.

It is not only easy to use, but it has customizable charts that any newbie trader can use to point out breakout patterns. Even better, traders can plug in their Expert Advisors programs onto this tried and tested trading platform. An expert advisor known as EAs is a program that automatically follows a trader`s trading instructions.

The EA will fulfill all directives given by a trader once they have met an implicit criterion. Expert advisors form the backbone of the popular MT4 automated trading activity.

All a trader needs to do is to set up a mechanical trading system then replicate that strategy with EAs. The EA will automatically perform actions like trading of multiple pairs of the day as soon as they receive the signal to trade.

On the MT4 platform, EAs will trade and monitor the financial markets via algorithms.

They will look out for trading opportunities as per the set mechanical trading strategy and notify traders or open trades automatically.

EAs can also add trading conditions such as stops, limits, and trailing stops. The MT4 platform is geared for forex trading, a financial trading sector that makes use of EAs. Expert advisors can however trade a variety of instruments available on the platform. 

Features that make Metatrader 4 the best option for beginner and advanced traders

  • The trading platform is available in English, Japanese, French, Russian, Portuguese, Chinese, Spanish, and over twenty other languages
  • It is both desktop and mobile compatible
  • Have a wide variety of technical and analytical indicators and objects
  • Has interactive charts, quotes, and free Codebase features to enable ease of choice and response to prices
  • Integrates with a variety of Expert Advisor programs
  • Availability of top-notch financial alerts and news
  • Easy charts saving functions for future access
  • Easy multiple account management feature via the MT4 multi-terminal tool
  • Copy-trading features that enable new traders to access trading knowledge from experienced professional traders
  • Top-notch security standards for data safety
  • 5 days a week phone, chat and email support

The history of MT4

MetaQuotes Software initially developed the trading software now known as MT4 and MT5 in 2002. The platform has undergone several iterations and updates since then, culminating in the release of MT4 in 2005 and MT5 in 2010. 

MT4--more than any other trading software, caught in the world of online trading by storm. A large percentage of brokers abandoned their proprietary software and switched to its use.

MT4 is so widely accepted that it has been licensed to close to 750 brokers who in turn give individual traders access to it.

Consequently, individual traders can only enjoy MT4 or MT5 use via licensed brokers. MT4 is also a mark of professionalism and legitimacy.

Its functionalities and features make it attractive for beginners while its features and tools fully cater to the needs of the advanced traders.

MT4 versus MT5

The MetaTrader 5 trading platform is often mistaken for an improved version of MT4. Despite their fairly common feel and look alike graphical user interfaces, the MT5 platform focused more on commodities and stocks since it plugs into a centralized trading exchange. 

The FX market, however, is decentralized, with traders and brokers in this massive market providing liquidity in an uncoordinated mode.

Since commodities and stocks must go through a centralized process during trade, traders capitalizing on the commodities and stocks boom will go for MT5.

The 2010 MetaQuotes Software release also complies with the US`s "no hedging rule", so it is more popular amongst North American traders.


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