Metatrader 4 MT4: A Forex platform is a connection between the retail broker or brokerage firm and the foreign exchange market-Forex- through an interface using the internet.
Those platforms are designed to analyze the current market and execute trade operations in the financial markets.
MT4 is popular for being simple to use and very effective. It features are customizable which allow the user to adapt it to different software programs.
The Metatrader platforms are used by brokerages but the number of private traders is larger when it comes to trading in currencies and commodities. Traders prefer MT4 because it is really user friendly, so for those that don´t have much capability in computers or the internet, MT4 is ideal. Users can add any feature they want according to their preferences and necessities including financial instruments among others.
The software – Metatrader 4 is offered by many brokers and can be downloaded for free. Being so popular there are many tutorials and user manuals available to help learn how to use it.
There are Metatrader 4 applications created for smartphones. Those applications include interactive charts, trade history and the possibility of making trade orders anytime by using a mobile phone. Applications for tablets are also available and like the applications for PCs these applications are for free. That makes it a really good option for regular travelers that desire to keep trading wherever they are.
In MT4, more experienced traders can develop their own trading strategies by using the expert advisor, which are some instructions given by the user to the software using a specific programming language called Metaquotes programming language version 4 abbreviated to MQL4, the instructions are compiled to a program which automates trading operations for you. It can analyze charts and indicators and based on the specific conditions, open, close and modify trading orders.
All charts can be customized to personal requirements and Metatrader4 offers an extensive variety of analytic instruments to help the trader make good decisions. It also offers multilingual support, providing translation of all program interfaces into many languages. The system supports the integration with web services which allows real-time charts and statistics, quotations and much more.
Metatrader 4 is recommended by most traders because of all the benefits for the final user.