When trading on indices, traders and investors need to place trades and monitor their accounts, and to help them with this, trading platforms have come into the picture. Trading platforms are software applications with which traders can execute and manage market positions. These platforms are designed to cater to the various needs of traders, investors, and financial institutions and have simplified the process of trading.
These platforms are made available through the online brokers either for free or at discounted prices to maintain your funded account and make a specific number of trades per month. One such platform is MetaTrader 4 trading platform, also known as MT4. It was initially developed in 2005 by MetaQuotes for forex trading, but it is also being used to trade indices and commodities.
Do you know what made MT4 so famous? It is a comprehensive trading platform that offers most (if not all) features a trader needs, including trading signals, advanced tools for technical analysis, a market of trading robots, algorithmic and mobile trading, and whatnot. There are two main reasons- first, it is customizable to a specific user’s needs, and second, it can automate the trading process based on the pre-defined parameters. If you want to know more about MT4, continue reading! This article will walk you through some basic features of MetaTrader 4.
Well, there is no denying that every platform available today is, of course, well-designed. So what makes MT4 so prevalent? MetaTrader 4 is a platform capable of running smoothly on all devices. Yes, you read it right! It works fine on old devices, mobile devices, and new devices. Moreover, it is resource-light, which means it has low resource requirements.
You guessed it right! MT4 supports one-click trading. This means you can execute the trade with just one click. Furthermore, its advanced capabilities and cutting-edge technology enable quick, easy, and on-the-go trading, fully compatible with most Android and iOS mobile devices. This means MT4 allows you to access your trading account anytime and anywhere. Its lightning-fast execution capabilities and stability help combat various trading issues that often dramatically affect your business doings.
MT4’s speed and customizability are why most investors and traders rely on it. It is well-known that market conditions can change in a flash, which means traders need a platform to execute a trade as quickly as a broker can process them. This is the reason MT4 has made speed its priority. In addition to this, it is impressively customizable. It comes with plenty of customization options enabling the traders to personalize their platform as required.
MetaTrader 4 comes with 24 graphical indicators and 30 built-in technical indicators that include popular tools like Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), On-Balance-Volume (OBV), and more. Besides this, you can also develop your new technical indicators and code plugins as per your need and utilize custom indicators designed and developed by other MT4 members. Isn’t it great?
MetaTrader 4 trading platform is considered one of the most secure trading platforms. Every data transferred from the client-side to servers is encrypted through a 129-bit key. Over that, the IPs of the investors are hidden, and the platform also supports RSA digital signature. Thus, it can be said that MT4 offers the most secure environment for traders to perform all monetary transactions.
Hopefully, after going through this article you will feel more confident and secure while trading through MetaTrader 4.