Metatrader 4 has ushered in the arrival of a whole new generation of innovative traders. The Forex of 2011 is not the same as that of 2001. Rapid growth in the field of information technology means that your typical Forex trader in 2011 works from home and emphasizes deep insight over high connections and privileged information. Let’s take a look at what it takes to become a trader and trade successfully with Metatrader 4.
What is Forex trading?
Forex trading is buying and selling currencies in the hopes of profiting from their fluctuations. For example if you buy a million Euro in 2005 and sell them in 2006, your profit (or loss) will be the difference between the value of the Euro in 2005 and the value of the Euro in 2006.
Why do I need Metatrader 4?
These days Forex trading is done via a computer and trading online requires trading software. Metatrader 4 is the world’s most successful trading application as a result of its efficiency and accessibility.
Where can I get Metatrader 4?
Most Forex brokers will provide Metatrader 4 for free when you open an account. Orders placed via your account are redirected to your brokerage for execution. You can usually get to grips with Metatrader 4 for free by opening a demo account and trading in demo mode.
What are the advantages of Metatrader 4 compared to other trading applications?
Metatrader is the most familiar platform in the world of Forex for both traders and brokers alike, and as such allows for a high level of communication and understanding between parties. Metatrader is accessible in terms of minimum spec requirements, its high level of customization, clean interface and range of language options. The other major advantage is the quality of additional features such as demo mode and automated trading.