Reasons to Use MetaTrader 4 for Your Trading: Top 3 Features

[Andrews Wright]

In order to trade in the foreign exchange market, the traders should have proper knowledge about the forex market and they should be experts in trading. At the very least they should be guided by an expert. The foreign exchange market or the forex market is considered to be the largest liquid financial market, which allows people or traders to earn money within a short period.

It has been observed that 90% of the traders who are new in this market face a great loss most of the time, as they start trading without knowing the basics. This is because of the reason that forex trading is a complex system. So, before starting trade, the novice traders should follow some strategies that are effective. In order to make an effective strategy the first thing you need to include in it is an appropriate and user friendly trading platform. You have a lot of options to choose from, as a number of platforms are available in the market. Among them cTrader, MetaTrader, MetaTrader 4, MetaTrader 5 platforms are popular among the traders as well as the brokers. In terms of user-friendliness, most traders prefer MetaTrader 4. Because of the heavy demand of traders, most forex brokers offer this platform nowadays. Earlier, this platform was used just as a charting package, but at present with some advanced features, this platform has been developed to a great extent. A few latest features of MT4 or MetaTrader 4 have been discussed here (information credit- CornerTrader). Read on to know more-

 

1.       User friendliness:

MetaTrader 4 platform is highly user-friendly and this is the reason that most traders choose it over the others. The interface of this platform is easily accessible and all the stuffs of MT4 are at their appropriate position. This platform is hugely popular because it is developed as per the users’ requirements. For examples- the indicators are placed at the top of the platform, as people use this part the most. There is a market watch box at the top left, and just below this a navigator is placed there. A terminal is there at the bottom of the MT4 platform. This terminal includes ten sections, some of them are- forex signals, journals, expert, exposure, alerts, mailbox, code base etc.

2.       Several indicators:

This platform includes a number of indicators, and you don’t need to buy them once you have chosen a MT4 platform. With time, the number of built in-indicators has also been increased in MT4 platform. A few of the popular indicators that are present in this platform are- Ichimoku, Trendline, RSI, Stochastic and many more.

3.       Multiple accounts are accessible:

It is a great advantage for the people who want to trade in multiple accounts on a platform. The trading platforms, which do not allow you to access multiple accounts, you need to sign out from one to sign into another. This process is really time-consuming and during this process you may lose a great opportunity of earning money. But, using MT4 will definitely save you from this issue as multiple accounts are accessible there. In fact this trading platform also comes with a demo account, which means now you can try different strategies without losing the real money.

 

MetaTrader 4 platform is considered to be the first major currency trading platform. This platform is developed by MetaQuote Software in the year 2000, and since then this platform is being popularly used in the forex market.