Forex trading seems complicated, especially for newbie traders. There are so many things to do, so many questions to find answers to and so many options to choose from.
But there is one thing each trader must take care of first. It is choosing a trading platform that will provide you with all the necessary tools and features to trade with.
Developed in 2005, the Metatrader 4 is designed mainly for Forex traders. It is the most popular trading platform among all options and hundreds of brokers offer it as a powerful area to trade on. The process of MT4 download for PC is convenient enough – so even a beginner can carry out it and start practicing.
Today we are going to check out the main advantages of using the Metatrader 4.
Let’s see what it can offer for traders.
- Technical and fundamental analysis tools
The Metatrader 4 has a lot of technical indicators that can help you understand price movements. There are over 30 different indicators, including tools to measure major trends and volumes. You can also see how prices change in different timeframes, from one minute to one month. And if you want, there is an option to add your own indicators or use ones made by other traders in the MQL4 community.
You can use MT4 to forecast price movements, identify support and resistance levels, define entry and exit points, and set stop-loss levels. In addition, you can also get alerts for major economic data or financial news.
- The Expert Advisors
The Metatrader 4 also supports Expert Advisors which is one of the platform advantages. This is a good way to trade if you want to carry out an automatically execute trades. There are hundreds of Expert Advisors to choose from, and each one is designed to meet the subjective needs and requirements of traders. Alternatively, if you want, you can create your own Expert Advisor and use it on the MT4 platform.
- High-security standards
When you are trading Forex, you will want to be sure that your account is safe from attacks and hacks. MT4 is a very secure platform that encrypts the data between trader and server with a 129-bit key. The trader’s IP address is also hidden so hackers can’t find it.
- Multiple trading orders
There are different types of trading orders that allow you to use the strategy of your choice. MT4 has two types of market orders and four types of pending orders. Plus, three types of trade execution modes offer traders a lot of flexibility.
- Minimum resources
MT4 is one of the most efficient and powerful trading platforms around, with low resource usage. This means that it can keep your PC from getting to disrupting while still being able to react quickly enough for what you need.
So, if you are looking for a reliable and efficient Forex trading platform that can provide you with all the necessary tools to make successful trades, MT4 is definitely the right choice. Start trading on MT4 today and see how this powerful platform can help you achieve your financial goals.