Advantages of Forex Trading with Metatrader 4

Metatrader 4 (or MT4 for short) is one of the most common and instantly recognizable Forex trading platforms available on the market, particularly for retail traders. MT4 is free to access and use, and is supported by most Forex brokers. In fact, many Forex brokers offer it as their primary platform.

The beauty of MT4 is that it’s extremely simple to get started with the software, but it also allows a huge amount of customization for more experienced users.

MT4 provides you with a one-stop package for pretty much all of the charting and trading needs you could have. Besides being free, it’s also the most supported Forex trading platform – from brokers to trading forums. It’s no surprise that Metatrader 4 is the most popular Forex trading platform on the market.

Forex Trading w/ Metatrader 4

Here are just a few advantages of Forex trading with Metatrader 4:

  • Huge variety of markets
    • MT4 gives brokers the option to offer you a multitude of different trading instruments
    • The vast majority of currency crosses are generally included
    • Ability to trade futures and equities
  • Detailed record of trading data
    • Metatrader automatically keeps track of all of your trades within the platform itself
    • This data can be exported to be analysed further if required
  • Secure but simple software
    • Metatrader is a very simple program to run and requires very little processing power from your PC
    • Offers rock-solid security for your personal details and transactions
  • A multitude of tools and the ability to design and code your own
    • As mentioned MT4 is one of the most customizable packages out their, and indicators can be coded to fulfil just about any role you can imagine.
    • The popularity of Metatrader also ensures that with a quick Google search you can generally find an endless amount of custom indicators out there, and you can often get exactly what you want for free.
  • Expert advisors (EA’s for short) and automated trading
    • Automated trading has really taken off recently and Metatrader is a big reason for that. Much like with the indicators above you can code EA’s to follow a set of parameters and basically trade like a robot for you when you’re not available at your PC.
    • EA’s can also be coded to manage your manual trades for you while you’re away, moving stops, and closing out where relevant.
  • Communication tools
    • Built into the software is an e-mail service that means you can receive messages from your broker as well as important market updates directly.
      • This in-house communication is very helpful and allows you to keep your trading correspondence separate from general correspondence in a lot of cases.

All in all there are huge advantages to Forex trading with Metatrader 4, and it’s no wonder that MT4 is the most popular Forex trading platform out there. If you haven’t given it a go yet, then I highly recommend checking it out. All serious Forex traders should consider the free and customizable Metatrader 4 when choosing a primary trading platform.

 

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