A Review of Meta Trader 4
MetaTrader is a free forex trading platform that is considered one of the best in the industry. Traders can use it to trade financial instruments like futures, CFDs, commodities, indices, and cryptocurrencies. Retail traders can access MetaTrader 4 from specific brokers who license the platform individually.
More than 750 brokers have access to the MetaTrader 4 trading platform that services numerous traders. It is ideal for both novice and experienced traders. Here is an overview of how MetaTrader 4 helps traders regardless of their level of trading experience.
MetaTrader 4 for Beginners
MetaTrader 4 comes with a robust user interface and a simple design. It features unique functionalities that are ideal for beginners. Many brokers offer the https://www.equiti.com/platforms/metatrader-4/ as an add-on or sole platform in collaboration with their proprietary platform. This gives you access to a wide range of educational tutorials and resources. MetaTrader 4 comes with a practical demo account that beginners can use to develop their trading skills.
Experienced Traders
MetaTrader 4 comes with advanced technical analysis and charting features that appeal to experienced traders. It also features various inbuilt graphical tools and indicators. Traders can program MetaTrader 4 with the MQL4 proprietary language to facilitate automated trading and build custom indicators.
The MetaTrader 4 Platform Tools
MetaTrader is accessible through the web, desktop, and mobile platforms. It supports more than 30 languages. You can use the desktop platform to evaluate financial markets, apply copy trading, operate trading robots, and execute advanced trading functions. MetaTrader comes with a client terminal that allows the following execution modes.
- Execution based on market
- Execution based on request
- Instant execution
Orders implemented via MetaTrader 4 include a market order, which is enforced at the prevailing market price, or a forthcoming order, which is an obligation to sell or buy a security at a pre-decided price in the future. A forthcoming order can be a stop-loss or stop order, or a limit. MetaTrader’s fast trading ability discharges orders from the chart with a single click.
The inbuilt tick is another feature that facilitates accurate determination of entry and exit positions. Traders can evaluate price movement in nine timeframes, while the charting application comes with 24 visible components and 30 inbuilt technical indicators.
The MetaTrader 4 platform adapts to high-security standards to guarantee security.
Reading accounts are protected through data encryption between the MetaTrader’s servers and the client terminal, and the use of RSA (Rivest-Shamir-Adleman) digital signatures. With the Meta Trader 4 web platform, you can trade using any operating system or browser. It offers one-click trading and four execution modes for all trading orders.
MetaTrader 4’s Mobile Platform
This platform allows you to control your entire trading account with ease. You can gain access to your account anytime from anywhere. It also comes with a free chat option, which facilitates communication among other traders.
- Leveraging MetaTrader 4’s Signals
Traders can leverage trading signals in MetaTrader 4 to copy the trading strategies of successful traders. Some experienced traders present their trades for public access free of charge or a small fee, making them signal providers. You can find commercial and free signals in the “signals tab” of the MetaTrader 4 trading platform, or the broker’s website. Choose a signal provider before you can copy the trades within the platform.
MetaTrader 4’s alert tool allows traders to generate an alert during particular trading conditions. These may include the price surpassing the determined ask prices and bid. Traders receive an alert when the specified event takes place.
- Alerts and Financial Tools
The MetaTrader 4 platform does not feature 3rd party research components. The platform’s financial tools and alerts help traders understand news and market events from financial and exchange institutions as they occur. Traders can also leverage the platform’s alert features to discover geopolitical developments and make interest rate decisions.
Traders can Start Using MetaTrader 4 Immediately
Seeing that MetaTrader 4 is a popular trading platform among brokers, traders do not require previous trading experience from other platforms. It comes with unique analytical tools and a copy trading component that allows beginners to copy experienced traders’ trading skills with ease.
