MetaTrader 4 or MT4 is a robust Forex trading platform that offers several useful functionalities, such as advanced charting functions, technical analysis options and indicators. User-friendly and customizable, MT4 also boasts high precision and accuracy. It also allows back-testing, hedging, real-time data export and many other ways of trading. Besides, it also supports add-on Forex software such as “Expert Advisors”, which enable round-the-clock automation of trading. MT4 also offers mobile trading systems for smartphones and price alerts and signals.
Benefits of MetaTrader 4 in the Forex Market
The perfect Forex trading system for experienced and novice traders, MT4 offers the following benefits:
- Technical indicators and charting: MT4 allows access to several high-quality technical indicators, such as Stochastics, Ichimoku clouds and Bollinger Bands. It also offers sophisticated, customizable and in-depth charting capabilities, direct trading from the charts and customization of analysis. These enable traders to analyze technical aspects of the market while they are still trading, thus enhancing their trading opportunities.
- Advanced trading execution: During real-time trading, MT4 functions like an advanced trading execution system with highly intuitive and user-friendly interface. This allows novice traders to trade comfortably in the complicated and volatile Forex market. The MT4 platform is also customizable; hence, traders can set their priorities for trading.
- Language options: Traders from across the world can utilize the MT4 platform and its huge data bank, given its availability in many languages.
- Communication tools: To enable fast and effective communication among traders, MT4 offers quick message postings and other real-time communication tools. This helps simplify the user experience and avoids the need for long and complicated email threads.
- Negligible disruption: MetaTrader 4 uses minimal resources and hence, affects only minimal or negligible disruption to the PC. Hence, the platform also reacts faster, enabling quicker implementation of trades and trade requests.
- Expert Advisors: A highly popular add-on feature and Forex software in MT4, Expert Advisors enables automation of trading and allows traders to set trading priorities as per their needs and strategies.
- Information access: The MT4 platform interface allows users to access their account information. This includes trading history, access details, account balance and password information.
- Security: To ensure enhanced security of Forex transactions, MT4 encrypts data between the server and traders with a 129-bit key. Traders’ IP addresses are also completely hidden. This helps prevent the dangers of attacks and account hacking.
- Flexibility: MT4 also enables multi-currency transactions and trading in commodities, indices, futures and equities markets.
- System-based trading: MT4 facilitates system-based trading, as Expert Advisors enables traders to execute trades automatically based on technical parameters. Trading strategies can be customized or are readily available through the platform.
- Customization: MT4 supports customization. Hence, it facilitates traders to create their own trading strategies; this includes getting customized Expert Advisors and technical indicators. Expert Advisors allows traders to program their trades in advance and employ various possible scenarios. Hence, it helps to choose the right Forex trading software or create a fully customized program that suits their trading needs. There are many hundreds of custom indicators, Expert Advisors and other useful Forex software tools available for MT4.
Finally, MT4 also enables margin monitoring by percentage, USD value and level. It also offers fast and simple registration, deposit and withdrawal processes. With MetaTrader 4 becoming the standard Forex trading platform around the world, it is now offering enhanced security that enables traders to open and close their positions securely and safely.