MetaTrader 4 (MT4) is an online forex trading platform developed by MetaQuotes in 2005. Even though there is an unprecedently high number of trading platforms in the market, MetaTrader 4 remains the most popular platform with 14+ million users worldwide.
Some traders and developers consider MetaTrader 4 a bit outdated; however, 14 million loyal users of this platform beg to differ and prefer it the most. So, what do you think makes MetaTrader 4 so popular?
The fact that MetaTrader 4 comes with some of the best services that other trading platforms simply lack, even MetaTrader 5. These services are exceptional for both new and experienced traders, especially those who perform their daily trading activities in the foreign exchange market.
👌 1. MT4 is Free
MetaTrader 4 will give you access to everything you need to trade in the Forex market at no cost to you or the quality of its services. This platform is free for all users who open an account (Demo or Live) with their respective Forex brokers.
👌 2. Convenient
MetaTrader 4 allows you to access currency quotes and execute trades in real-time. Every little detail you need to conduct your trades, such as spreads, lot size, margin currency, and margin percentage will be available to you all in one window by using MT4.
The same platform will enable you to monitor the market in real time in terms of the number of sellers and buyers, as well as the prices exchanged between the two. Having access to additional information regarding market sentiment, you can confidently take your trades to the next level. In other words, you get to predict price movements, set support/resistance levels, and entry/exit points, as well as place stop-loss levels as an MT4 user.
Traders who prefer different trading strategies can also use the comprehensive analytical tools that come with MT4 – 30+ built-in technical indicators, including MACD, Relative Strength Index (RSI), Total Volume (OBV), and Fibonacci retracement levels.
The same charts are available in 9 timeframes from minutes to monthly intervals. Since the MT4 platform is so interactive and user-friendly, you can also build your very own indicators or buy them from the MQL4 community.
Regardless of what type of computer you use – desktop or handheld, you can access the market at any time and from anywhere.
👌 3. Easy to Use
MetaTrader 4 is user-friendly, easy to navigate, and does not require an extensive amount of learning for new users; this enables them to focus their energy on mastering trading skills, knowledge, and capabilities. Plus, if you need help from your forex broker, you can simply get it within the program.
👌 4. Very Light
MetaTrader 4 platform is very light and will not weaken your computer’s processor and its computing power. You can run other programs on your computer while you are using MT4 without noticing any difference whatsoever.
👌 5. Highly Secure
Security is the most important factor in all aspects of forex trading. MetaTrader 4 comes with a 128-bit data encryption key for all transactions between its server and traders which makes it highly secure. The platform itself is equipped with RSA electronic signatures which will mask your IP address even when you are not using a VPN.
👌6. Automated Trading
This trading platform is full of features suitable for both new and experienced traders. Pro traders will especially benefit from the automated trading feature on MetaTrader 4 (EA). This feature will allow experienced traders to execute their trades in a completely automated trading environment without any human interference. You can also create your own automated trading programs (EA) and technical indicators using the MQL4 IDE (independent development environment) and test your strategies using the system tester. you can also put up your own auto-trading for sale on the MetaTrader 4 software base, aka the Shop.
Some traders and developers consider MetaTrader 4 a bit outdated; however, 14 million loyal users of this platform beg to differ and prefer it the most. So, what do you think makes MetaTrader 4 so popular?
The fact that MetaTrader 4 comes with some of the best services that other trading platforms simply lack, even MetaTrader 5. These services are exceptional for both new and experienced traders, especially those who perform their daily trading activities in the foreign exchange market.
👌 1. MT4 is Free
MetaTrader 4 will give you access to everything you need to trade in the Forex market at no cost to you or the quality of its services. This platform is free for all users who open an account (Demo or Live) with their respective Forex brokers.
👌 2. Convenient
MetaTrader 4 allows you to access currency quotes and execute trades in real-time. Every little detail you need to conduct your trades, such as spreads, lot size, margin currency, and margin percentage will be available to you all in one window by using MT4.
The same platform will enable you to monitor the market in real time in terms of the number of sellers and buyers, as well as the prices exchanged between the two. Having access to additional information regarding market sentiment, you can confidently take your trades to the next level. In other words, you get to predict price movements, set support/resistance levels, and entry/exit points, as well as place stop-loss levels as an MT4 user.
Traders who prefer different trading strategies can also use the comprehensive analytical tools that come with MT4 – 30+ built-in technical indicators, including MACD, Relative Strength Index (RSI), Total Volume (OBV), and Fibonacci retracement levels.
The same charts are available in 9 timeframes from minutes to monthly intervals. Since the MT4 platform is so interactive and user-friendly, you can also build your very own indicators or buy them from the MQL4 community.
Regardless of what type of computer you use – desktop or handheld, you can access the market at any time and from anywhere.
👌 3. Easy to Use
MetaTrader 4 is user-friendly, easy to navigate, and does not require an extensive amount of learning for new users; this enables them to focus their energy on mastering trading skills, knowledge, and capabilities. Plus, if you need help from your forex broker, you can simply get it within the program.
👌 4. Very Light
MetaTrader 4 platform is very light and will not weaken your computer’s processor and its computing power. You can run other programs on your computer while you are using MT4 without noticing any difference whatsoever.
👌 5. Highly Secure
Security is the most important factor in all aspects of forex trading. MetaTrader 4 comes with a 128-bit data encryption key for all transactions between its server and traders which makes it highly secure. The platform itself is equipped with RSA electronic signatures which will mask your IP address even when you are not using a VPN.
👌6. Automated Trading
This trading platform is full of features suitable for both new and experienced traders. Pro traders will especially benefit from the automated trading feature on MetaTrader 4 (EA). This feature will allow experienced traders to execute their trades in a completely automated trading environment without any human interference. You can also create your own automated trading programs (EA) and technical indicators using the MQL4 IDE (independent development environment) and test your strategies using the system tester. you can also put up your own auto-trading for sale on the MetaTrader 4 software base, aka the Shop.
