If you’ve just begun your journey into forex trading, you may be wondering why all of the experts and traders recommend the MetaTrader 4…
The MT4 Platform is a comprehensive trading platform that is often touted as being the best for forex trading. Here are the main attributes that make the platform such a popular, versatile and unique tool.
Fast And Easily Customized
Latency can be a killer in any trading market — but it is particularly dangerous in the forex market, which moves so incredibly fast. MetaTrader 4 has been developed to initiate trades incredibly swiftly — as quickly as your forex broker can process them. As a stable, lag-free platform, the MT4 is the most reliable solution for many traders.
In addition to speed, it can be very easily customized. Traders are able to setup the MetaTrader 4 to suit them and their trading style, which additionally has the benefit of empowering the trader to make quick, decisive trade actions.
Offers a Cross-Platform Solution
The MetaTrader 4 can be used on everything, from your desktop and laptop computer, to your smartphone — and that’s critical for traders on-the-go.
A forex trader needs top have constant access whenever they have open trades, while not everyone has the luxury of trading at certain hours. With the MT4 platform you can easily transition from home computer to tablet or mobile device so that you’re always knowledgeable about your account’s status.
Supports A Variety of Languages
The forex market is global — and that means that traders of all cultures, countries, and languages need a trading platform that they can trust. MetaTrader 4 supports virtually all commonly spoken languages, making it easier for foreign traders to get started. Trading is hard enough without a language barrier!
Offers a Variety of Charts and Indicators
Any type of charting functionality or indicator can be loaded directly into the MT4. Not only does the platform come with all of the most common forms of analysis and indicators, but it also allows for other users to create analysis plug-ins, so that you can benefit from alternative types of trading strategy.
Very few other forex trading platforms can support this.
MetaTrader 4 is Highly Secured
Traders using a forex trading platform may have hundreds or even thousands of account balance in play at any given time. This is why it’s important to secure your account.
The MT4 comes with built in security standards to ensure that your account is always kept safe regardless of the devices that you use to connect to. It also has very responsive user support, in the event that you feel as though someone is attempting to compromise your account. You don’t want to wake up one day to find out that your trades completed… and that your account balance was then transferred out.
Well-Designed and Low on Resources
The MetaTrader 4 is able to operate smoothly because it consumes very little by the way of system resources. This is what enables it to operate on mobile devices in addition to older technology.
Operating with low resources improves the performance of the program from the ground up, making it easy to run the trading solution in the background as you go about your analysis and research.
Has Superb Support
The customer service of the MT4 platform is responsive and comprehensive. Many other forex trading platforms may not be able to deliver the support that you need at an extremely vital time. Not only does it have a huge amount of documentation available, but its customer service team can be contacted from anywhere in the world and in a variety of ways.
Offers Broker Communication Features
Have you ever wished that you could communicate better with your brokerage?
The MT4 doesn’t just offer account management and trading features; it also offers a portal through which traders are able to communicate directly with their brokerage firms. This consolidates your communication into a single area and makes it easier for you to remember your past correspondence.
MetaTrader 4 Has Expert Advisers
Expert advisers are a way to automate a trading account, making it easier to follow trading signals and other indicators. An expert adviser is allowed to initiate trades as needed for the investor, allowing them to gain profit by doing nothing at all. Once a trader has found the trading signals or indicators that work well for them, they can simply put the money in their account and perform account management as needed.
Expert advisers are uniquely powerful scripts that empower a trader to remove the emotion from their trading and focus solely on analysis.
The Platform is Highly Flexible
Are you the type of trader who is always looking for new ways to trade?
The MT4 isn’t just a currency trading platform; it can be used to trade on a variety of markets, which also includes futures and commodities. If you think you’ll be expanding into realms other than forex or be expanding your forex trading through other indicators, the MetaTrader 4 is the ideal solution.
Nearly every other forex trading platform is dedicated to forex alone.
Well-Integrated with your Broker Account
MetaTrader 4 doesn’t just give you your account information; it integrates directly with your brokerage so that you can manage your personal information and your account. Essentially, it can operate as a one-stop shop for all your needs as a trader — something that most other platforms simply can’t do.
Through your MT4 account you can then control access, security, transfers, and anything else that you might need. Support can vary based on broker, so many traders often look specifically for brokers that integrate well with the MetaTrader 4.
Has a Low Barrier to Entry
Perhaps the most important reason the MetaTrader 4 is so popular is that it has a very low barrier to entry.
The platform is intuitive and simple; once launched, you should be able to immediately review your charts and begin initiating trades. Everything that you need to do is laid out in a clean, easy to understand format, and if you have a practice trading account you can begin your trading right away. The MT4 is undeniably the first trading platform that most individuals should try for this reason.
The MT4 isn’t the only trading platform out there. Some individuals use proprietary trading platforms that are provided by their forex broker. Nevertheless, it is by far the most popular and most often recommended platform — and many people even look for brokerages that support the MetaTrader 4.
You can learn more about the MetaTrader 4 by downloading it and getting started on a demo account; you will be surprised to discover how easy and intuitive it is to use.
Try reading our guide for using Forex Signals on the MetaTrader 4