When entering the world of forex, it is vitally important that you have the right tools at your disposal. There are a number of electronic trading platforms available online, but MetaTrader 4 is often recommended by professional forex brokers as the most user-friendly platform choice. The MetaTrader platform was first introduced in 2005 and has since become a trusted name in the world of foreign currency exchange.
How it Works
A MetaTrader 4 download allows users to carry out forex trade operations in real time, importing and exporting their past trade data and indicators. The platform can be customised by each user to suit their specific preferences and requirements; this allows for full, flexible control of all forex trading activities. The client terminal of MetaTrader 4 grants users access to a library of free forex articles, professional advice and trading software. MT4 users can also develop customised indicators (known as Expert Advisors), made possible by the platform’s MQL4 scripting language.
MetaTrader 5 was released in 2010, but most brokers still favour MetaTrader 4. Clients who invest in the platform can expect the following advantages:
• A simple, user-friendly interface – perfect for forex traders just starting out
• A high level of reliability
• MetaTrader 4 is highly secure and allows for safe online trading
• The platform is easy to run and not demanding on the user’s PC
• A wide selection of international languages, meaning users from all over the globe can use MetaTrader 4 with no language barriers
• Simultaneous trading and charting capabilities, allowing forex traders to run analyses while placing trade orders
• Users have easy access to their personal financial information (eg. account balances and account history)
• The Expert Advisors (EA’s) allow users to automate their trading on MetaTrader 4 quickly and easily
• Users can also view forex market news in real time when using MetaTrader 4
There is also a convenient mobile component of MetaTrader 4, which allows clients to access the platform via their smart phones.
Downloading a MetaTrader 4 demo account will give you, as an aspiring trader, the chance to test out the functionalities of the platform, and create some custom EA’s to suit your preferences. Forex brokers have commended MetaTrader 4 for its combination of easy operation and a comprehensive range of capabilities. Novices and professionals alike have found MetaTrader to be a highly beneficial and secure trading platform, so why not try your hand at forex using this cutting-edge trading technology?
Dave Tucker is an enthusiastic writer looking to share the latest information and opinions.
- Learning About Currency Trading Taxation (2011taxes.org)
- Forex Trading Software Comparison (forextradingsystemcentral.com)
Why Use MetaTrader as a Forex Platform? by Steve