Launched in 2005, MetaTrader 4, or MT4 continues to be one of the most widely popular trading platforms. Visit MultiBank Group
MT4 includes an impressive set of applications, right from advanced trading operations to operating individual trading robots (Expert Advisors).
It boasts of a wide-reaching user base, the platform backs multiple operating systems like Windows OS, Mac OS, Android, and iOS. Today, mobile trading has gained popularity. To have the ability to access trading accounts and trading tools using mobile apps on smartphones and other mobile devices is an added advantage. MT4 trading platforms for iOS can be accessed from any device with a steady internet connection that offers a user-friendly interface and comes with an easy-to-download process.
Irrespective of the trading strategy used, slippage remains a key concern for day traders and scalpers but is something that affects a majority of market participants. MT4’s lightning-fast execution as well as stability helps in dealing with this issue that ultimately can severely affect your bottom line.
MT4 backs single-click trading, basically allowing the execution of trades with one click. It’s perfect for scalping and day trading systems.
MT4 also backs the alert functionality, which informs users of significant price movements throughout financial markets. Just press CTRL+T and click on the Alert tab to turn on this feature.
Technical Analysis Tools:
MT4 provides 30 built-in technical indicators as well as 24 graphical objects; the software even allows the use of custom indicators created by the MT4 community. Yet another impressive aspect is that anyone can create new technical indicators as well as code plugins.
Drawing tools that are perfect for price action traders include diagonal, horizontal, and vertical lines, in addition to channels, text, and visual elements like arrows. Such trading tools are useful for identifying and labelling support as well as resistance levels, entry, exit, stop-loss along with take-profit points.
The aforementioned tools provide a great space to carry out extensive market analysis.
Orders and Charting:
The MT4 platform has two market orders, four different pending order types (buy stop, buy limit, sell limit and sell stop), two stop orders, and a trailing stop.
Real-time charts can also be accessed via MT4, which comes with nine different timeframes, from a minute to a monthly time interval.
In addition to this, traders are free to explore several financial instruments which MT4 offers such as currency pairs (Forex market) and CFDs.
Expert Advisors – Algorithmic Trading:
Expert advisors allow traders to benefit from the automated trading strategies – MT4 comes with MQL4 IDE (programming language). Traders are hence at liberty to create their own expert advisors and indicators. These automated strategies could even be monetized by advertising on MetaTrader’s Marketplace.
Considering the fact that any indicator can be coded in MQL4 and uploaded to MT4, there’s essentially no cap on the number of indicators MT4 supports.
MetaTrader 4 offers a number of key features and benefits for traders that deliver a wholesome trading experience. Know more about MultiBank Group
MT4 has been a popular platform since its inception and enjoys a loyal customer base.