MetaTrader 4 is a trading platform used mainly by brokers and traders. A trader uses MT4 to view currency prices in real time and can open or adjust the orders and acquire a technical and unified set of fundamental analysis. A broker uses MT4 to reach a maximum number of audience.
MT4 is good in offering boatloads of indicators and currency pairs that are chosen. It is made simple and used effectively by any kid above 6 years and breakout new patterns using customizable charts. It is treated as a newbie-friendly platform. Metatrader 4 platform has simple and effective interface that has successful and proven traders who implement social trading in real time.
Screens in MetaTrader 4
An MT4 platform can enable mechanical traders to plug in EAs. It makes simple in tracking the opportunities in trade. It cannot be open in any browser, it has to be downloaded and installed on a computer or a smartphone before having interaction with the currency prices and the trades. It has many features and indicators that creates an average of 92% users.
As it is introduced in the year 2005, it has got many upgrades till today which included a lot of features. Below article enables the audience to know what exactly does MT4 do, and know why it is a most successful
The unique features of MT4 are:
For any trading platform taken into consideration, convenience matters a lot. Comparing the convenience and flexible aspects of MT4, the below are treated as the best features
MT4 utilizes a minimal resource from the computer and works well even if the internet bandwidth is low. This tells that it is very reactive and responds quickly for a query posed.
MT4 is many times advanced than the older versions that compete with the rest. It has the capacity of supporting thousands of trades at a time.
There is a mailbox section in the client terminal that enables brokers to exchange their messages and information in a real-time hassle free and this saves a lot of time and creates convenience on a whole.
MT4 has a perfect security database. The security has been upgraded from the older versions to connect 129-bit keys and prevent Dos threats.
As with the combination of the above features, MetaTrade4 has industry benefits that cope up with the time and requirements. Excluding the common benefits, MT4 has some specialized advantages.
The specialized advantages of MetaTrade4 are:
- Available for Free
MT4 ranks high among many platforms irrespective of many aspects that compete. In fact, this platform doesn’t charge any fee for installing it. All the traders can have access for free and it stands as the best choice for the advanced products. After a certain level of proximity, the user can have the option of funding their amount into their account depending upon the program they do.
Charting capabilities are MT4’s advanced features and it offers user-friendly trading. The charting feature enables traders and brokers to effectively analyze and trade the most technical aspects of the running market. It provides access in customizing the styles and colors and even allows loading of presentation templates to reflect personal preferences.
Due to this ability in customizing, the user is allowed to read easily and modify or delete the function whenever needed focusing more on personal priorities.
- Collaborative work with programming language MQL4
MQL4 is an effective language that is used in MT4 platforms more often. It is made easy for programmers, traders, 3rd party participants to make and implement robotized trading and EA indicators. Instead, there are many other indicators built for MT4. It has also developed a few scripts that carry out many important functionalities. A screenshot is one such part of a chart that includes the scripts and indicators.
- User Experience
To trade volatile and complex market, an extremely high user-friendly interface has been provided by MT4. Traders of every level find MT4 as the best choice for all the mobile trading applications and can access anytime and anywhere. It is compatible with both computer, mobile phone, and tablet.
Since the above advantages are intensively used that helps in supporting the traders in every aspect of their process. So, every trader has a unique concept of handling and customizing the features according to the practices and needs. Using MOL software, every trader has the options to develop programs engaging to have Expert Advisors and technical indicators. But the code implemented for MT4 will not support in MT5, which becomes a factor in noticing while switching the platform. Most of the traders who spent time in coding and resources automatically face significant concerns at this stage.
The most wanted benefit or advantage every trader requires which remains as a paradox but sure it makes a wider sense. It is one of the best available product that is made easier and flexible in acquiring the most prominent customers. Trading on the internet needs some experience, that is appeared and encouraged in the MT4 platform. This platform is responsible in covering a huge data on literature as well as word of mouth aspect of marketing. There are many users who love to use MT4 till today have proposed their views and experience with it. Hopefully, all of their reviews were positive. It is not difficult in spreading word internally and externally around the trading groups.
Having said that the above benefits and numerous features of MT4 are forefronts of the present industry with respect to the time. According to the marketing industry, customization, comprehensive language, security, minimal resources, and server stability are its major and priority advantages that impress users in using MT4 for a long span of time. It gives users the reputation that it deserves due to its profound abilities and features.
Although it didn’t attain the market standard on a high scale, but it continuously increases and updates its popularity with the advanced technology and periodical growth infrastructure. Keeping in mind, people follow version updates and choose MT4 as their preferred choice as the best trading platform.