Ever considering that the introduction of MetaTrader 4 (MT4) by MetaQuotes, many brokers have bought the licensing rights with this platform to offer this trading client to traders underneath the brokers’ wing. Indeed, these day there are over 300 MetaTrader Forex brokers, and the number is set to grow. So why is this brainchild of MetaQuotes so popular amongst brokers?
Great things about going under MetaTrader Forex Brokers
Simplicity – MT4, the most used version supplied by nearly all MetaTrader Forex Brokers, is extremely user-friendly. Its interface is intuitively designed and the essentials are typical clearly laid out for the trader mt4 trading. For example, in the “Charts” window, the toolbar contains useful tools such as for instance pip rulers and line-drawers to offer traders a graphical aid when deciding on the execution of a particular trade.
Expert advisors- Expert advisors are programs that execute trades based on an extremely specific set of rules and instructions. This allows one of many significant reasons for the popularity of the MetaTrader platform. The use of expert advisors potentially allows traders to essentially trade hands-off, or at the very least trade without the influence of greed or fear.
Expert advisors were created and programmed by a C-like programming language called MQL4. As such, traders fluent in this language can customize their very own expert advisors or create them from scratch. These expert advisors will, in essence, mimic the trading behavior setup by their programmers, determining the viability of a trade based on only logic alone.
Free-of-charge – The MetaTrader trading platform is free-of-charge. This implies as possible download the trading platform from any MetaTrader Forex Brokers or directly from the MetaTrader webpage itself and run it on your computer without paying a single cent.
Vibrant MT4 community – The MT4 community is an energetic one. Many programmers have created and sold expert advisors to traders and these traders actively review the utility of the expert advisors. Furthermore, MQL4 programmers frequently create custom indicators, and share them on various Forex forums. It’s led to a thriving market for pre-made expert advisors and in addition has led to the creation of numerous expert advisors and custom indicators for the community.
How can I start trading on MT4?
As previously mentioned, it is free-of-charge to download MT4. However, you are able to only trade in Forex with this specific platform by going through a MetaTrader Forex Broker. The broker will act because the middleman, consolidating and executing orders from traders. Luckily, due to the popularity of MT4, most major Forex brokers, such as for instance Oanda and AvaFX will allow traders to trade through MT4 along with their very own internal developed platforms.
It’s therefore no wonder that MetaTrader is the most used trading platform with financial traders. With so many advantages from by using this platform, the explanation for the abundance of MetaTrader Forex Brokers is self-explanatory.
