MT4 Platform – Advantages & Supporting Brokers

There are numerous advantages that come with using the MT4 trading platform.  It is best that look at the essential features that you as a trader will need during your trading activities. There are a variety of trading platforms available to choose from, however, MetaTrader4 still remains one of the most widely used trading platforms among retail traders.

The user-friendly interface, the one-click trading, and advanced charting abilities all come together to provide a good trading experience.  All of this comes together, which means MT4 platform gives you the ability to focus more on the market and less on the software.

MT4 Supporting Brokers

Not all brokers have support for MT4 or MT5, so if you are interested in taking advantage of this platform, here are a list of brokers that are compatible.

User-friendly Interface

MetaTrade4 was built for the retail traders.  The most compelling fact about the platform is its simple design. The MT4 platform has been serving the needs of Forex traders all around the globe for 13 years – no matter of their background and their level of experience.

You can also adjust the platform interface so everything fits according to your own needs so your trading experience can become better. You can download and install three versions of the MT4 software: desktop, mobile, and tablet from supporting brokers.

Advanced Charting Capabilities

Besides having a friendly user interface, the MT4 platform also offers advanced charting capabilities. The MT4 charting package enables you to do technical analysis and trade directly from your charts.  This comes in handy when you need to make quick decisions or if you are managing multiple accounts simultaneously.

You can make your charts to reflect your personal priorities and only display the information you find useful to make a trading decision.

MT4 charts also have shortcomings. It doesn’t allow traders to overlay charts or do studies over studies which would be helpful in coming to more advanced conclusions.

One-Click Trading

In fast-moving markets, it is very important to be able to get into the market quickly.  MT4 is built to accommodate that need. The user interface offers one-click trading which means you can be in and out of a trade very quickly.

By being able to buy and sell currency pairs with just one click, you can potentially save lots of money that you would otherwise have lost when the market is moving fast and you don’t have the ability to close your positions when want. This would be an example of the software getting in the way of the trader.  Something that Metatrader works hard to eliminate.

Stable Trading Platform

MetaTrader4 ensures fully stable operations when you trade. However, if you need fast connections to the server, you also need to invest in a good ISP so that you have a good connection to the Internet so you don’t get slippage.

Trading Signals

Another feature of the MT4 platform is its social trading integration. Trading signals enable you to automatically copy the trades made by other people and mimic their performance. You can subscribe to a large variety of traders and only pick the ones that suit your style and risk parameters.

However, if you want to grow as a trader, you need to do your own thinking and develop your own trading ideas because copying other people is never a good idea since the majority of traders, in the end, lose money.

Expert Advisors – EA

Another important feature that comes with MetaTrader4 is the Expert Advisors (EA) tool. An Expert Advisor will allow you to automate your trading process with a customized EA. The EAs are good because it enables you to do algorithmic trading and backtest your trading ideas so you can have empirical evidence that you really have a trading edge in the market.

Conclusion

The MetaTrader4 platform remains one of the most trustworthy trading software – and not just for novice traders, but professional traders as well.  So if you’re just starting out your trading career, the MT4 platform should be your 1st choice.

Due to its simple design, the MT4 platform is going to help you to be able to analyze the market more efficiently. One of the biggest challenges for traders is to be able to focus on the market and not on the software.  The MT4 platform has a user-friendly interface that assures no distractions, and succeeds in giving traders a portal to the market that is advanced, stable and nimble.