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Published On: Mon, Dec 12th, 2022

Why should you choose MetaTrader 4?

Main information about MetaTrader 4

MetaTrader 4 is a popular free forex trading platform, which was released in 2005 by MetaQuotes Software. This software is used by both rookie traders and professional specialists from all over the world. MetaTrader 4 allows users to implement any trading strategy and use all opportunities, which the forex market offers.

photo/ Gerd Altmann

MetaTrader 4 major advantages

According to the statistics, more than 30% of all forex traders use the MT4 platform as the main tool. Such a high demand for this product is driven by the following distinctive features:


  • User-friendly interface. In MetaTrader 4, you can adjust the main screen as you like. You can change the position of windows in the program and change their colours. By the way, there are also a lot of charts and timelines design options, so you will probably manage to create an ideal work environment personally for you.
  • Wide range of tools. Indicators, quotes and several types of charts – all these instruments are available to every trader! If you are just a beginner, you may find most of these features useless, but after some time you will understand that the more tools you have at your disposal – the more opportunities for profit you get.
  • Real-time price tracking. MT4 platform allows traders to monitor all the most up-to-date information about the market. This way, they can be better informed about the current situation than those who use other Forex platforms.
  • Large number of supported kinds of orders. With this software, you can enter and close any market or pending orders. What’s more – you can adjust stop-loss and take-profit points at your discretion to make the process of trading even more convenient.
  • Availability on all devices. MetaTrader 4 can be installed on your PC, tablet, any Android or iOS device. An abundance of different forms of this product make it possible to trade and monitor rates of currencies regardless of where you are.
  • Low system requirements. A weak computer or an old smartphone is not a problem when you are using the MT4 platform. Structures of both the application and the program are very simple and there are no unnecessary elements that would overload your device. Simplicity is the key.

How to get started trading with MT4?

Unfortunately, you can’t open the real MT4 account yourself. This procedure can be done only by brokerage companies. If you decide to try out the MetaTrader 4, just adhere to the following steps:


  1. Go to the official MetaQuotes Software website;
  2. Download and install the MT4 app or program on your device;
  3. Visit the website of your broker and create an account there;
  4. Validate your identity by sending the documents that your broker requires;
  5. Apply for an official MetaTrader 4 account.

If you meet all the broker’s criteria, you will receive a login and password from your new MetaTrader 4 account.

Conclusion

The MT4 platform is one of the most well-known tools in the Forex market. At the moment, this product is out of competition as it contains all the necessary features and has a straightforward interface. Some traders will be upset by the fact that you can’t create an actual account without intermediaries, but the outcome is still worth it.  

Author: Rank Castle

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