MetaTrader 4 or MT4 is a trusted and well-known trading platform worldwide. Its comprehensive features are utilized by millions of forex traders, so much so that it has become a guide in online forex trading.
In 2005, MetaQuotes Software Corp. designed MetaTrader 4. It is a forum for multi-asset trading where it is possible to exchange forex, CFDs, grains, stocks, and indices. Reputable brokers have been selling MT4 to their customers as an option to their proprietary trading sites for several years now. MT4 delivers sophisticated computational features, the operability of multi-devices, and automatic trading features. The device has a user-friendly GUI that provides traders at all levels of expertise and experience with sufficient opportunities.
Here’s a peek at the five significant benefits that MT4 forex trading has to bring.
- Links to stock rates and liquidity in real-time
In real-time, MT4 helps traders to view forex quotes and conduct trades. In the “Market Watch” window, the currencies and any other securities a trader wishes to exchange through a broker are listed. The real-time bid/ask quotation is also shown along with the protection icon.
Traders will also access all other information from this pane, such as spread, contract duration, currency margin, and margin percentage. Also, the “Depth of Market” function alerts traders about market activity in real-time. For example, in the market depth segment, the amount of buy or sell orders for a currency pair at various rates can be seen.
It offers an idea of investor sentiment. The aggregate pattern for a currency pair can be called bullish if the data shows that bid side liquidity is more than the offer side liquidity. Typically, as there is enhanced liquidity, there are better risks of orders being filled at existing rates. For short-term trading tactics like scalping, this may be critical.
- All-level scientific and basic research methods
MT4 provides vital resources for price research with a wide range of in-built technical indicators and charting capability. On this platform, there are over 30 built-in technical metrics, including great pattern and volume instruments such as Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), On-Balance-Volume (OBV), Fibonacci Retracements, and more.
Unlimited maps can be seen at one time by traders, and each currency pair can be seen in 9 separate time frames, from one minute to monthly intervals. From the MQL4 community, additional charts may be sourced, although several traders often create their own indicators.
In-depth map analysis, statistical methods, and object drawing equip traders to evaluate price activities’ complexity. Moreover, these maps may be thoroughly modified to meet the specifications of each trader. According to various trader accounts, they can be saved.
Traders may anticipate market changes, understand levels of help and opposition, identify entry and exit points, and establish stop-loss levels, all directly from the charts. Based on the publication of important economic data or financial news, notifications may be sent. Also, traders are granted the option of customizing access to data related to a specific sector.
- High Flexibility Trade Instructions
There are numerous forms of trading orders and styles of execution, enabling traders to build and conduct the plan of their choosing. Two business orders and four kinds of pending orders are allowed by MT4. Plus, three types of modes of trade execution give a high degree of versatility to traders.
Strategies for risk control are essential to the performance of forex trading. In MT4, to reduce downside threats, there are two types of stop orders: benefit order and trailing stops. When the price shifts in the direction contrary to the projection, a stop-loss order immediately closes a position. Take-profit helps buyers, as the price touches the predefined amount, locks in a desirable level of profits, and closes the position. The placing of these orders is quite simple. You may initiate orders directly from the map or the ‘Toolbar’ pane. They can also be removed and changed quickly.
Various types of orders make MT4 attractive to traders of all styles. As a full-time career, even traders who do not want to follow forex trading will rely on MT4 for their trades.
- High Stability and Robust Security
MT4 is known to be an exceptionally reliable and safe network. Data exchanging is secured by a 129-bit key between client terminals and servers, although the network also provides RSA digital signatures. The merchants’ IPs are concealed as well. All these features enable traders in a safe environment to execute monetary transactions. They should keep optimistic that their trading accounts will remain safe from cybercriminals.
The high-speed execution of trade and platform stability allows traders to trade with limited negative slippage. Traders may access MT4 from several devices that enable them to trade on-the-go as well, such as smartphones, tablets, and desktops. The web app includes all the enhancements that the desktop version provides, including dynamic tables, a comprehensive range of commands, and technological review software.
Additional functions are also required for Smartphone MT4, such as push alerts and talk functionality. All in all, for the gadget-friendly, young market participants of today, the MT4 model is perfect.
- Automated Trading Option for Experts
Via MT4 Expert Advisors, skilled traders may deploy automated trading strategies (EA). Without any interference on their side and any human bias, automatic trading enables traders to manipulate price fluctuations. The MQL4 IDE (Integrated Production Environment) also allows traders to build their technological indicators and EAs. After generating an EA, the approach may be re-tested on the Strategy Tester of the framework and refined.
Customized EAs also helped expert traders develop their own plans and execute them. MT4 often allows traders to monetize their plans by posting them on the “Marketplace” or MQL5 codebase. Traders may learn from their programming skills, as it is straightforward to master the MQL4 language.
MetaTrader 4 is an extremely scalable tool. The high degree of versatility and customization choices are its USPs. MT4 remains a common trading platform for newcomers and veterans alike, with countless technological software, user-friendly commands, educational opportunities, and demo-testing skills. For millions of traders, open a live trading account with Blackwell Global today to realize why it is the go-to trading platform.