With the help of a currency trading robot, a forex trader can start trading their account as soon as the market is open on the MetaTrader platform; very advanced short-term algorithms created by seasoned traders and money managers are used. The front-end trading interface on the MetaTrader 4 platform is user-friendly. Each trader can create their own FX trading strategy using the technical analysis, charting, and expert advisers accessible on this forex trading platform.

What is MetaTrader 4?

MetaTrader 4, or MT4, is a cutting-edge trading platform that is used and well-known by traders and brokerages alike all over the world. Using a financial intermediary, traders and investors can open, liquidate, and manage market positions using MT4, a piece of software created by MetaQuotes Software.

MetaQuotes created the platform with the intention of trading in futures markets, contracts for differences, and foreign exchange (forex) (CFDs). Using MetaTrader 4, you may analyse the financial markets and carry out sophisticated trading activities. Online brokerage businesses typically provide trading platforms for free or at a reduced cost as long as an account is kept adequately filled. The platform can be downloaded directly from the MetaQuotes website.

What sets it apart?

MetaTrader 4 supports many trading features, like three trade execution types, two market orders, four pending orders, two stop orders, and a trailing stop feature, which are unavailable on other platforms. Also, quick trading features let you send trading orders straight from the chart with just one click.

In addition, the integrated tick chart tool will enable you to pinpoint your ideal entry and exit locations precisely.

Why Choose MetaTrader 4?

The wide variety of professional features that are the norm for every trading platform was combined with a professional style and felt to create the MetaTrader 4. Also, it has a vast selection of customisable indicators that are simple to add to and delete from the charts.

Where MT4 can be downloaded and used on your computer and smartphone, other trading platforms are browser-based. In addition to generally having fewer bugs than other platforms now used in the financial market, it is also considerably simpler to use and manage.

In addition, the lack of hedging capabilities in MT5, a more recent trading platform by MetaQuotes Software, has resulted in negative feedback from the MetaTrader community. The prior version’s popularity merely increased as a result of this.

However, when choosing a trading platform, most traders search for platforms that offer hedging and multi-hedging. MT5 does not. There have been solutions proposed, but most people would like to refrain from using any plugins when working with their platforms, which you won’t experience with MetaTrader 4.

Moreover, MetaTrader 4 uses a lot less RAM than other trading platforms. In contrast to MetaTrader 5, which requires three times as much RAM, it only needs a little space to perform at its optimum. It works great on iOS and Android smartphones as well as PCs. 

What’s the Catch?

Comparing MetaTrader 4 to other platforms available in the current financial sector, you will notice that it needs to be more flexible. Therefore, it’s crucial to remember that once you post guidelines, the platform will implement them strictly, which may result in another disadvantage. The rules and regulations you utilise in this programme may prevent you from seeing significant improvements even though they are right before you.

Rapid changes in the forex market might not be displayed in the MetaTrader 4 software. For instance, MT4 might respond after the market changes in response to a press release about the state of the economy.

Conclusion

The MetaTrader 4 platform is exclusive to a few major operating systems, namely Windows, iOS, and Android. Therefore, if your device does not operate on any of these systems, utilising the platform is not an option for you.