There are many trading platforms available. Forex Bonus Lab reviews most popular trading software and today our main guest is – MetaTrader 4 Review.
Brokers allow their customers to use trading software, which is often proprietary. The quality of this platform is a criteria the customers use when selecting a broker. It is in the interest of the broker to make this trading platform as easy to use and as reliable as possible. Provision of the MetaTrader 4 attracts a large segment of customers. Read out MetaTrader 4 review to see why this platform is so widely used. Other brokers decide to choose a safer bet, by using and allowing the customers to use a generally known trading platform that has proven suitable for the task.
One such platform that is used by a large number of brokers is MetaTrader 4. Provision of MetaTrader 4 attracts a large segment of customers. Read out MetaTrader 4 review to see why this platform is so widely used.
MetaTrader Review 4 at a Glance
MetaTrader 4 is a platform developed by MetaQuotes. The trading software is licensed to foreign exchange brokers. These brokers in turn provide the platform to their customers. It allows the users to see live quotes, prices and to place orders. It is generally available for Windows and mobile devices. There are also some customized versions developed by brokers for the Mac OS.
MetaTrader 4 was widely recognized between 2007 and 2010. This time a lot of brokers started to use it as an alternative to their proprietary software. It is seen as the preferable choice even when compared to its successor – MetaTrader 5. This software didn’t elicit the same response from MetaTrader users.
Its primary focus is margin trading, it is not recommended to be used in the stock market. Some use it to trade CFD, but its main use is foreign exchange. Continue reading MetaTrader 4 review to see what it is all about!
MetaTrader 4 Features Review
The importance of accessibility of a trading platform cannot be overstated. Other qualities are: fast order execution, efficient account management and tools for market examination. There is a balance that has to be reached between the accessibility and number of features. If the number of features is too high, beginner traders may find themselves overloaded with information. On the other hand, if the number of features is too low, than the same traders, when they become advanced users, will switch to a new platform. This aspect can be mitigated with the help of the interface and a degree of customization.
This platform is the market standard and is free to download. These are some of the reasons it has gained such a following. The demo version that is offered is also fully functional. It provides a starting point for beginner traders as well as having the tools that can help advanced traders.
It also can be customized to a large extent. MetaTrader 4 gives the possibility of automating the trading activity by programming with its MQL4 proprietary language. Also custom indicators can be constructed that are suitable for the demands of every trader. A number of widespread Expert Advisors and custom indicators are compatible with this platform. Meaning that switching from another platform to MetaTrader 4 is much easier than switching from MetaTrader 4 to another platform. This explains why the platform has retained its customers in such a large extent. Also MetaTrader 4 review has shown a great stability. While many trading software gives you bugs, MT4 has been stable for years.
Getting Started with MetaTrader 4
MetaTrader 4 review has shown that the installation time is short. It only takes about 15 minutes or possibly lower depending on the processing power of the computer. Once an account is open and funded, the customer can get right to trading.
At first, the use of an Expert Trader is recommended. Only after the customer has seen the principles of trading he can be sure not to make mistakes that are too obvious. Note: this MetaTrader 4 review will not show you how to install and apply Expert Trader.
The customer should be advised that these Expert Advisors are not foolproof and can register losses when exposed to an active trading environment. It is best for the trader to make orders only when his opinion and the opinion of the trading advisor match.
The Benefits of MetaTrader 4
We can list the main benefits that have seen during MetaTrader 4 review. The platform that it is today contains:
Accessibility: This very important aspect for new traders is present in this platform, because it provides beginner traders a place to start without being too daunting.
Localization: Because of the fact that MetaTrader 4 has been adopted on such a large scale, it has been translated in various languages. This is also a strong plus when we refer to non-English speakers. Otherwise such people would have a hard time finding a trading solution.
Charts: The platform provides numerous charting tools. This makes it easier for traders to review the technical aspects of the trade by presenting the information in an opportune way.
Expert Advisors: MetaTrader 4 has the feature of algorithmic trading. This is done with the Expert Advisors that can also be customized. It is true that automated trading is a poor substitute for the skills of a professional trader. EA is a feature that can help new traders find their calling and give them time to develop their abilities. By examining how these Expert Advisors operate and how do they open, maintain and close their positions, a trader can understand how the market works.
Communication: The platform also facilitates communication between brokers and customers. It allows them to post messages and permitting real-time communication.
Low System Requirements: Another point in favor of this platform is that it can run on a large variety of personal computers. Even if you have a PC of a several years old. This is also one of the reasons that contributed to it being used by a large number of customers.
Security: Because the funds are being deposited and withdrawn, security is of great importance. With MetaTrader 4, all the data between the trader and platform is encrypted and the IP addresses are also not visible.
Customization: A lot of features, from the user interface to the Expert Advisors. Indicators can be customized, thus permitting every trader to tailor the platform according to his preferences.
The trading platform is valuable because it also serves an educational purpose for beginning traders. Here they have the proper tools to be informed and to grow as a trader.
MetaTrader 4 Review Conclusion
Trader’s best bet is to use the MetaTrader 4 platform along with a trustworthy broker. Such a broker should have a reasonable number of features and special offers. This can help diminish the initial difficulty of achieving a specified percentage of winning trades. Considering that not even the newer version has gained such recognition and market share, it is easy to see how important this platform is for traders. It is the market standard and the benchmark when examining other platforms. We advice you to download the software and make your own MetaTrader 4 review!
MetaTrader 4 Brokers
Below we have selected best MetaTrader 4 brokers, so you can open a live account or a demo account straight away!
TOP1 MetaTrader 4 Broker – Alpari
Important Note: On 16th of January, Alpari UK have issues an insolvency note. This means that Alpari does no longer accept traders into its regulated entity. You may still open an account with Alpari Forex, a non regulated Alpari Forex Brokerage.
Leverage: 1:500 Licences: CFTC, FCA previously
Min. Deposit: 200 USD Bonus: N/A
Spreads: from 0 pips US Clients: Not anymore