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MetaTrader 4 Review • Benzinga



Considered the gold standard among the trading platforms, MetaTrader 4 is a free trading platform forex and other financial instruments such as CFDs, futures, indexes, commodities and cryptographic baskets. MetaTrader4 is available to resellers through specific brokers who individually license the platform. According to the developer, MetaQuotes Software, the platform is available through over 750 brokers and banks and services millions of traders.

Best For

  • Beginners
  • Advanced Traders

Pros

  • Easy Implementation
  • ] Platform Does Not Overload Your Computer
  • User-Friendly Design for Beginner Investors
  • Compatible with Multiple Operating Systems such as Linux, Mac and Windows as well as iOS and Android

Cons

  • Extensive historical data for back testing is not available
  • The execution speed is not large and is unsuitable for high frequency trading
  • The crossing web platform does not allow automated trading
  • Map package does not allow a custom timeframe

MetaTrader 4 trading platform features to help traders place trades and manage accounts. A responsive, reliable, secure platform that offers an easy-to-use interface and rich analytics tool is a must-have if you are seeking profit from trading volatility.

Beginners

MetaTrader 4, with its simple design, excellent user interface and features like copying trades and expert advisers, is ideal if you are a beginner. Since most brokers offer this as a single platform or as an addition to their own proprietary platform, you get access to a wealth of platform with educational resources and training programs. The fully functional demo account provides strong support for beginners.

Advanced Traders

The Platan also appeals to advanced traders due to its advanced mapping capability and technical analysis, multiple built-in indicators and graphical tools, etc. The platform also allows automated trading by programming with MetaQuote's proprietary MQL4 languages ​​and constructing customized indicators.

MetaTrader offers desktop, web and mobile platforms. The platforms support over 30 languages, including English, French, Spanish, Portuguese, Japanese, Chinese and Russian.

The desktop platform helps analyze financial markets, perform advanced trading, run trading robots, and make copying.

The client terminal on the platform allows for three trade execution modes:

  • Instant execution
  • On-demand execution
  • Execution by market

Orders executed through MetaTrader 4 can be a market order, which is an order made at today's market price or a pending order, which is an obligation to buy or sell a security at a predefined price in the future. A pending order can be a limit, stop or stop order.

The platform's fast trading function sends orders from the chart with one click. Another feature, called embedded tick, helps accurately determine input and output points. The price movement can be analyzed in nine time frames.

The platform's map application has 30 built-in technical indicators and 24 graphical objects.

The MetaTrader 4 platform also ensures security; it complies with the highest safety standards. Your merchant account is secured by encryption of data exchanged between the client terminal and the platform's servers and the use of RSA digital signatures.

The online platform allows you to trade with all browsers and operating systems. It provides for all orders, four execution modes and one-click trading. The chart carries real-time notes.

MetaTrader 4's mobile platform gives full control of your trading account, and you can access your account anytime anywhere. The free chat option also helps communicate with other traders.

MetaTrader 4 offers an automated trading feature using automated trading robots called Expert Advisors (EAs). EAs can analyze quotes and perform trades.

These EAs, or robots, are available for download free of charge from Code Base, which is a library containing codes for free EAs, technical indicators and scripts. Alternatively, they can be bought or rented from the market, an online store. You can also order EAs from professional MetaTrader freelance developers.

TradingSignals in MetaTrader 4 allows copying of successful resellers, providing their services publicly available for free or at a reasonable fee, thereby becoming signal providers. These free and commercial signals can be found on the Signals tab on the trading platform and on the company's website. You can choose a signal provider and start copying trades without leaving the platform.

Using the platform alert tool, you can create a notice for certain trading conditions, such as the price that exceeds the specified bid and price prices. When the specified event occurs, you will be notified.

The platform does not carry third party research offers. The platform's financial alerts and tools provide retailers with the latest market events, news exchanges and major financial institutions, interest rate decisions, geopolitical developments, etc.

To transfer quotes and news, you need to launch a simple plug-in, a gateway to connect the platform with quotes and news providers. The platform has already created streams for major offers and news providers such as the IB Times, Trading Central, Dow Jones, Claws and Horns, MNI, Bloomberg, Reuters, Alliance News, FXStreet and Trading Central. You can create your own feed using the MetaTrader 4 API.

Metatrader 4 is free for download from the site. At first launch you will be asked to open a free demo account so you can test all the features of the trading platform.

When you access the platform through a broker, it can offer MetaTrader 4 free to its customers or extend the spread to account for use of the MetaTrader 4 standard account or MetaTrader 4 Pro account.

The message pays a $ 100,000 full license fee and hosts an additional $ 15,000 a month for hosting, bridge, 24/5 support, and other services.

You need:

  • OS – Windows XP / 2003 / Vista / 2008/7/8/10
  • Processor – One that supports SSE2 instruction set

The other hardware depends on the terms of use of the terminal, load from running MQL4 applications and number of active instruments and charts, etc.

MetaQuotes does not make a version of the platform for Linux and Mac OS. However, to install MetaTrader 4 on Linux, you must have Ubuntu OS and Wine, which is a Windows application installer.

For installation on Mac OS, a special program installer called PlayOnMac is required, which can be downloaded for free. Wine and PlayOnMac does not guarantee fully installed programs; They may be wrong at times.

If you want to install MetaTrader 4 on a tablet or smartphone with Android OS, Android 4.0 or higher version is required. For an Apple device, iOS 7.0 or higher is required.

MetaTrader 4's website has a website dedicated to help topics that provide information under different heads such as getting started, client terminal settings, user interfaces, working with charts, analytics, trading, auto trading, tools, articles, signals, market and virtual hosting.

To purchase the software, the brokerage houses can contact MetaQuote's offices in Cyprus, China, Singapore, Australia, Turkey, UAE, Pakistan and Thailand.

Support is also available from brokerage houses that offer the platform.

When you download the platform, you will be up in an instant. The user interface is friendly and intuitive despite the advanced features. The feature that allows placing orders straight from the charts ensures fast execution and helps you capture winning opportunities.

Final Thoughts (4.1 / 5)

Since MetaTrader 4 is the most preferred platform for most brokers, you may not need to learn to trade with another trading platform. The analytic tools offered by the platform are second to none, and the connectivity feature helps beginners draw on the expertise of experienced professional traders without burning their fingers.

It also facilitates automated trading by purchasing or developing own EAs. MetaQuotes has attempted to popularize MetaTrader 5, so it is likely that this licensor cannot offer technical updates or support. However, if you use MetaTrader 4 from an established broker, you will probably have unobstructed access to the platform.


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