The most in-demand electronic trading platform nowadays, MetaTrader 4, provides investors with infinite opportunities to trade financial assets online. Though it was followed by a successor, MetaTrader 5, launched on the financial market in 2010, most brokers still prefer MT4. Which features make it a popular choice for both inexperienced and fundamental traders around the globe? Let’s find it out by delving into the specs of this powerful retail platform.
MetaTrader 4 Performance in a Nutshell
MetaTrader 4 download has been available since its release by MetaQuotes Software in 2005. Numerous traders have already experienced the benefits of this trading terminal. Using it, you can analyze financial markets, run trading robots named Expert Advisors, copy deals of more skilled investors, and perform advanced trading operations.
The platform is specialized in margin trading and comes with all the essential and updated trading resources and tools a novice investor or a skillful market pro might need. Though it was designed for Forex and futures trading, it can also be useful for financial institutions, banks, and asset managers to leverage a trading industry.
Pros of MT4 Functionality
This robust platform provides investors with a broad selection of opportunities:
- User-friendly interface
Both beginners and seasoned traders appreciate the easily customizable design. The interface is intuitive and uncluttered, which has made the service the most prevalent trading platform for Forex. All relevant tools and data are easily accessible, among them: prices, over 50 built-in indicators, numerous timeframes, and interactive charts.
- Ability to trade in all market conditions
This retail platform allows you to access and trade on various markets since it supports the production, adjustment, and utilization of automatized trading strategies. This feature makes it suitable for various trading styles. It can also handle a vast number of orders.
- Working With Expert Advisors
MetaTrader 4 is supplied with analytic capabilities and supports automated trading. You can use, create, alter, purchase, or sell by Expert Advisors (EAs) for algorithmic trading.
- Native MQL4 (MetaQuotes Language 4) support
This retail platform complies with the highest safety and technology standards. The programming language it supports enables the evolution of multiple custom trading tools which can be used straight on the platform. It comes with built-in help guides for beginners in the field.
- Accessibility from Internet, mobile, and PC
MT4 provides traders with swift access to the platform from their PC, iOS, or Android devices, and the Web as well. Its functionality is efficient on both fast and slow-paced Internet connections.
- Thorough price analyses
With this trendy Forex trading application, you are sure to determine optimal prices to enter and close your trades. It helps you perform full-scale price analyses on your selected financial assets.
- Entire information back-up and security
The application guarantees you full data protection so that you can perform convenient 1-click trading operations.
Are There Any Drawbacks?
Though this long-favored application has satisfied the financial demands of many investors worldwide, our review wouldn’t be complete without mentioning several cons of MT4. While the list isn’t that extensive in comparison with the advantages this software provides, there are some factors to take into account.
- Monotonous installation process
You will have to install extra fonts with the basic download and set up to make sure that the application runs smoothly. Since MT4 has been originally developed for Windows, Mac users might face some problems during the installation process.
- Absence of automated option for the Web platform
Although this online platform is handy and easily accessible, it does not allow traders to create or modify algorithms for automation.
MetaTrader 4 Opens Trading Doors
Multiple benefits of this robust platform have made it an industry standard in online trading. It is fast, flexible, and offers powerful functionality. Feel free to give it a try, boost your skills and experience, and reach the top of automated trading.