Benefits Of Meta Trader 4
Forex traders worldwide use the fantastic features of Meta Trader 4 as their preferred trading platform. The extensive and quality attributes of the platform have seen it become the online forex trading benchmark. The multi-asset trading platform, developed in 2005 by MetaQuotes Software Corp, is ideal for trading in indices, stocks, commodities, CFDs, and forex.
Reputed trading platforms such as Equiti- https://www.equiti.com/platforms/metatrader-4/ offer 6their clients Meta Trader 4 as an alternative because of its automated functions, advanced analytical capabilities, operability with multiple devices. MT4 also provides equal opportunities for traders of all skills and experiences with its user-friendly interface.
Benefits of Using Meta Trader 4 Trading Platform
Allowing forex traders to implement and create strategies of their choice when executing trade modes provides them with flexibility, which leads to success. MT4 provides traders with four different pending orders, two market orders, and three trade execution modes.
A crucial factor to successful forex trading is risk management strategies. Providing a trader with different trade execution modes is the highest degree of flexibility, you can give them, and therefore the reason for MT4.
Market Prices and Liquidity Real-Time Access
Traders using the MT4 trading platform have the opportunity to access and execute trades in real-time. They choose securities and currencies they want to trade from the market watch window listed in real-time. They also get to see the bids, ask quotes, and security symbols displayed on the list.
Other details traders can view in real-time include contract sizes, spreads, window margin percentages, and margin currencies. Another feature that provides traders with market activity in real-time is the depth of the market. Some of the instances traders see in the depth market include currency pair buy or sell orders at different prices.
For example, if the depth market information shows less offer side liquidity to bid side liquidity, the trend is bullish for the currency pair.
Automated Trading Option
MT4 offers expert traders with strategies for automated trading options through EA-Expert Advisors. The platform allows the traders to avoid human bias and any form of intervention as they leverage market movements. The platform also offers an integrated development environment for the traders to create their technical indicators and EAs. It also makes it easy to back test an EA strategy and optimize the strategy tester on the system.
Besides helping traders deploy their strategies by providing customized EAs, MT4 also allows expert traders to monetize their trading strategies by publishing them on the marketplace or MQL5 codebase.
Extensive Tools for Fundamental and Analytical Analysis
MT4 has over thirty in-built indicators for charting capabilities and price analysis. The tools include MACD-Moving Average Convergence Divergence, OBV-On-Balance Volume, RSI-Relative Strength Index, and Fibonacci Retracements, among others. Traders get to view currency pairs in nine timeframes with intervals ranging from one minute to monthly.
In-depth chart analysis, drawing objects, and mathematical tools are also available to help the traders study price activities of different complexities. The charts also help the traders to identify resistant and support levels, forecast price movements, set up stop and loss levels, and define entry and exit points.
Provides stability and security
MT4 trading platform is both stable and secure. A 129-bit key encrypts all data exchange between servers and client terminals. It also hides a trader’s IPs and supports RSA digital signatures. All the features assure the traders that they can trade all their monetary transactions in a secure space protected from hackers.
Wrapping It Up
MT4 is a versatile, stable, secure, fast, and flexible platform that minimizes negative slippage and provides traders with the ability to access the platform from different devices on the go. It also offers customized options, and you do not have to worry about the mobile version falling short as it has all the functionalities that come with a desktop version.
The platform also comes with additional gadget-friendly features that appeal to the younger trading market participants.