MetaTrader 4 Guide – The Ultimate Facts About MT4g
MetaTrader 4 is referred to as the ‘gold standard’ of trading platforms. Aside from the fact that it is free of charge, this trading platform is also ideal for Forex and CFD trading.
Before, Forex trading was only for huge financial institutions but now, thanks to online trading, it has become available for retail traders.
According to MetaQuotes Software, the developer of MT4, this trading platform is offered to more than 750 brokers as well as banks serving millions of traders all over the world.
Beginners
The ones who can benefit more from this trading platform are the beginners who are yet to have an adequate amount of experience.
MT4 is simple to use, with a simple design and very excellent user interface. The functionalities of this trading platform like Expert Advisors and copy trading is also ideal for newbies.
Because of its huge popularity, MT4 is being offered by almost all Forex brokers as an add-on together with their exclusive platform.
The platform allows you to access technical tools as well as educational resources and trading tutorials to boost your knowledge in trading. Beginners can also access its demo account which is fully functional and offers strong support among beginners.
Advanced Traders
Although the interface is quite simple in MT4, it still strongly appeals to advanced traders particularly because of its innovative charting capabilities as well as technical analysis. Its built-in graphical tools and indicators are also quite advanced.
Automated trading is also allowed in the MT4 through its programming language, MQL4. Creating customized indicators also adds to the appeal of this platform.
If you want to trade on the go, MT4 can also be accessed on desktop and mobile platforms.
Traders from different parts of the world will not have difficulty with its language because it supports more than 30 languages such as Russian, Chinese, French, Japanese, Portuguese, Spanish, and English.
The desktop platform is also very useful because it analyzes advanced trading operations, financial markets and even runs trading robots like Expert Advisors and copy trading.
There are three execution modes available in MetaTrader 4;
- Execution on Request
- Execution by Market
- Instant Execution
Orders that are made at the trading platform is tagged as market order that is also an order done at the current market price. A pending order, meanwhile, is the buy or sell of certain security over a predefined price to be done later in time.
A pending order can either be a stop-loss order, a stop order, or a limit order. The platform supports one-click trading which is very convenient especially if you are dealing with multiple trades at a time.
Another feature of MT4 is the built-in tick which helps in accurately determining the exit and the entry points. There are nine timeframes in MT4 and it is used to analyze price movements.
Aside from the timeframes, there are also 30 built-in technical indicators, and additional 24 graphic objects to help you with your trades. On top of that, MetaTrader 4is very secure as it boasts the highest standards of security.
