Online Forex trading has become so popular these days you can now use electronic trading platforms to make your life much easier. However, it is likewise important that you choose a reliable trading program so that you not only get to practice your best actions consistently; you also get to manage your strategies properly and efficiently. And if you’re looking for a trading platform that can serve the best not only in Forex but as well as in other financial trading affairs, then you may want to check out what MetaTrader 4 has to offer.
Features of the MT4
MetaTrader 4 has been out since 2005, and despite having newer versions released over the years, this platform has remained to be the standard for many brokers. In fact, if you are going to use the server technology and account handling services of an online forex broker, chances are you will be provided with this program as your main trading tool.
Among the best features of the MT4 include a real time client terminal, in which you can trade anytime of the day you want to. In this terminal you can also see through the charts and conduct technical analysis for both short-term and long-term timeframes. This terminal is very important as this is where you will conduct all your financial businesses during a trading day.
This program also focuses on margin trading. It allows you to cover some of your credit risk by means of paying a deposit before the start of your trading activity. With this kind of trading practice, you given better options to safeguard your account and protect your funds in case you suffer from a losing streak in your Forex trade.
Another good feature of the MetaTrader 4 is its custom indicators called Expert Advisors. These are specially designed bots that you can use whenever you stumble upon situations that can be difficult to act on. These indicators provide you with tips, tricks and as well as practical advice based on the trends you’ve drawn, the current market situation and the figures that you are planning to play with.
MetaTrader 4 can also be used on your cell phone, via its feature called MetaTrader 4 Mobile. Through this feature you can access the trading terminal even while you are out, and conduct trading actions based on the latest news and tips you’ve got.
Why use MT4?
A lot of novice and advanced traders use MetaTrader 4 for a number of reasons. For one, the platform is user-friendly you can easily navigate through its interface in no time at all. Also, this program allows you to view the current trends in the financial market right on the dot-it’s very seldom that you experience downtime procedures.
MetaTrader 4 also teaches you both the importance of technical and fundamental analysis. Through its figures and charts you can easily work on technical analysis, while its custom indicators push you to study more on how these currencies move across the present financial trends-as well as how they will.
Harriet finds the MT4 application useful for studying the realtime sentiments of a countries economy. She has a passion for economics and writes about the markets. Harriet has also been exclusively invited to become a member of the editing team at this Currency Trading Directory, a place that vets trading resources based on their usefulness to users.