MetaTrader 4, or MT4 as it’s most commonly known, is the most widely used trading platform in the world. Almost all brokers offer it for this reason, and there’s little doubt that if you’re just starting out in the world of forex, you’ll want to know why it’s so popular and why you should give it a go before settling on a platform. Here’s a quick rundown of all the different things that make this platform the go-to application for most discerning investors.
The MT4 user interface is intuitive and nice to look at. Everything you need is readily accessible, which can make a real difference to how satisfied you are with the product. Overly complex platforms are a pain to work with, and overly simplistic ones often don’t allow you to see all the info that you need at once.
This is one that is most often forgotten, but very important indeed. MT4 is popular all around the world because it’s available in most major languages, something that you won’t find on every platform. You can also communicate with other trader through the platform, removing the need to use a third-party messaging app or even email.
Forex robots or expert advisors are scripts that essentially do the trading for you. You input the parameters you’re looking for, and they do the work. MT4 has the largest community based around this of any platform.
MT4’s desktop app, is not in any way resource intensive, so it can be run on all but the oldest computers, and of course it’s available in-browser and on smartphones too. An added benefit on being light on resources means that the software is snappy – you won’t be waiting around for anything to load or process.
The account you hold with your broker can be extremely valuable indeed, which means that security is of the utmost importance. Thankfully, MT4 is one of the most secure platforms around, being fully encrypted and with IP masking.
One of the big draws is that unlike most platforms, you or your broker can tailor MT4 to their needs, so that it gives you exactly what you want. This includes allowing you to introduce your own technical indicators so that you never have to swap between apps again.