MetaTrader 4 was created by MetaQuotes Software Corp in 2005. Foreign exchange (FX), contracts for difference (CFDs), commodities, equities, and indices are all tradable on this platform. For many years, renowned brokers have offered MT4 to their clients as an alternative to their proprietary trading platforms. Moreover, the system provides a user-friendly interface and gives excellent chances to traders of all skill and experience levels.
Metatrader4 allows traders to view currency quotations in real-time and execute deals. The currencies and securities a trader chooses to trade are listed in the “Market Watch” window. The real-time bid/ask quote is also shown with the security symbol.
Traders may also examine all other parameters from this window. In addition, the “Depth of Market” section provides information on current market activity for investors.
This offers insight into the market mood. If the information suggests that bid side liquidity is more significant than the offer side liquidity, the overall trend might be regarded as bullish for a currency pair.
MT4 provides comprehensive tools for price analysis, including several built-in technical indicators and charting features.
Each currency pair may be seen in 9 different periods, ranging from 1 minute to 1 month, and traders can watch as many charts as they like at once. It is possible to obtain more charts from the MQL4 community, and many traders also create their indicators.
Investors may analyse complex price actions using technical analysis, mathematics, and graphical elements. Furthermore, these charts are substantially customised to meet the needs of individual traders. Each trader’s preferences are recorded separately.
Thanks to various order types and execution settings, traders may apply whatever strategy. In Metatrader, traders may place two different types of market orders and four different pending order types. In addition, three distinct trade execution styles offer investors plenty of options.
Successful forex trading requires careful attention to risk management. Metatrader has two stop order strategies to mitigate losses: take profit and trailing. If the market goes against the trader’s prediction, the stop-loss order will trigger, and the trade will be closed immediately. If the price reaches the take-profit level, the trader can close the position and lock in a profit. The ordering process is simple. The chart and the “Toolbar” window can place orders. They are also simple to edit or remove.
MT4 is widely acknowledged as a safe and reliable trading environment. With a 129-bit key, the platform encrypts all communications between client terminals and servers and accepts RSA digital signatures. Traders’ IP addresses are also concealed. With these safeguards in place, merchants may confidently conduct monetary transactions.
The platform’s reliability and fast trade execution make trading with little negative slippage possible. Traders may use Metatrader4 on the move because it is accessible from their phones, tablets, and computers. Interactive charts, the whole suite of orders, and technical analysis tools are available on the go, just like on the desktop.
Using MT4 Expert Advisors, seasoned traders may automate their trading techniques (EA). Automated trading allows investors to take advantage of market fluctuations without any involvement from the trader and free from any potential bias.