The MT4 Trading Platform, also known as MetaTrader 4, is a trading software designed by MetaQuotes, a Russian software company back in the year 2005. Even though there are a lot of other trading platforms such as MT5, TradingView, etc, MT4 is the most commonly used trading platform by a larger percentage of forex traders. Keep reading to find out why…
The most common reason behind Metatrader 4’s popularity is its ability to support automated trading, which is commonly referred to as algorithmic trading. This feature makes it very different and unique as compared to other trading platforms. With algorithmic trading, a trader can easily employ the use of Expert Advisors or EAs, to trade currencies based on a pre-established set of trading rules and strategies.
Here are listed several factors that prove the worthiness of the MT4 trading platform over other trading platforms.
Table of Contents
8 Reasons Why MT4 Platform Is Better Than Its Competitors:
The MT4 software is considered a benchmark trading platform and is used by millions of traders around the world. There are numerous reasons for the popularity of this dynamic trading platform that should be considered:
One thing that tops the list of a trader’s priorities is the security of his personal and financial information. A data breach is the worst nightmare for any trader and to avoid this from happening, the MT4 platform’s application has very advanced security features. The platform is ranked as one of the most secure and reliable trading software as it is backed by strong blockchain techniques that eliminate the chances of any possible fraud or data breach. All the personal and financial information of a trader is completely secure with the MT4 trading platform.
Application of Expert Advisors
Automated trading has become the present and future of the forex market. With automated trading, a trader employs expert advisors to perform trade activities on his behalf by following a predetermined set of trading strategies and without requiring a straight manual application. Expert advisors on the MT4 trading platform are built of powerful scripts that are capable of improving a trader’s trading skills and strategies to a large extent.
Compatible On A Range Of Devices And Connections
Another amazing feature that makes the MT4 trading platform unique from other trading software is its compatibility with a range of devices. You can download MT4 on your computer or smartphone, or you can access the web-based platform on your web browser.
Another notable thing about the MT4 trading platform is that slow internet speed won’t have much effect on its functioning, as it can efficiently operate on a slow internet connection that allows traders to stay updated with the latest happenings of the forex market.
Availability Of Multiple Charts and Indicators
For an effective trading strategy, the availability of statistics and data is very important. The MT4 trading platform comes with multiple charts and technical indicators that you can install with a single click. This would allow you to stay updated about the latest developments happening in the forex market.
The advanced features on the MT4 platform offer new and less experienced traders the opportunity to practice various trading strategies by making use of its demo account. Traders can practice trade strategies without risking their actual capital as the virtual trading feature is almost similar to the real one and is also free of any charges. The MT4 has also enabled the use of expert advisors on its demo account to examine the effectiveness of automated trading.
Real-Time Market Analysis
Traders can have access to a watch time window on the MT4 trading platform that shows real-time market bids and estimates. Along with this, the platform also enables a trader to evaluate the margin ratio, margin currency, spreads and contract size.
Easy Chart Management and Customization
Forex traders can execute impactful and fast trading with the help of flexible and customizable features available on the Metatrader 4 trading platform. The forex trading software enables traders to check their margin level and also receive push notifications when the account runs out of funds or has a shortage of funds for the execution of more trades.
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MT4 Offers A Multilingual Support
Nationalities and languages are no barriers when it comes to using the dynamic MT4 trading platform. One of the most unique features of the forex software is that it offers a wide range of language support to its traders from all around the world. There are more than 39 languages displayed on the client terminal, which include French, Italian, German, Swedish, Hebrew, Arabic, Chinese, Japanese, Indonesian and more. This makes it easier for non-English speakers to understand all the important terms in their native language to avoid any confusion.
The MT4 trading platform has become one of the most loved and adopted trading software around the globe due to the plethora of advanced features it provides to its clients. A trader can easily draw a difference in the superiority of the MT4 trading platform as compared to others by going through various reviews and features it offers. If you are a new trader or if you have just begun your forex trading journey, you need to look for a trading platform that is easy to use, does not lag and is equipped with numerous features to support your trade strategies and styles.
Conducting brief research on the capabilities of the MT4 trading platform and how it can benefit a trader, in the long run, will surely leave no room for any doubts. Metatrader 4’s smooth functionality along with seamless access to data, dynamic customization and strong security makes the MT4 tradin a first choice among traders around the world.
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1 thought on “8 Reasons Why MT4 Trading Platform is Loved by Forex Traders”
You always provide great resources and references. Thank you.