MetaTrader 4 Platform
MetaTrader 4 platform (MT4) was specifically built for forex traders, whereas MetaTrader 5 (MT5) was designed to provide traders with access to CFDs, stocks and futures. Both provide pioneering automated trading systems with expert advisors. However, they each serve a very different function and, contrary to popular belief, MT5 is not an upgrade of MT4. If you’re new to trading, or are simply interested in trading forex, MetaTrader 4 platform is an obvious choice. This is reliable trading platform that provides traders with lots of useful features and thousands of custom indicators. One of its strongest selling points is its stability. In addition to this, it is also supplied with a powerful set of mobile apps. These applications are available for nearly any type of operating system, including iOS, Android, and Windows. Needless to say, these mobile platforms are also very stable and powerful.
MetaTrader 4 download and installation:
Installation process start with opening demo or real account with a broker. Once your forex account is open, you should receive Login, Passwor and Server details via email from your broker, the email should contain links to download the MetaTrader 4 installer too. Also platform is available for download on brokers websites which supports this trading platform. You can download Metatrader 4 for your laptop or PC at XM.com website. Once installation is complete log into demo or live trading account with Login, Password and Server details received. Platform is up and running , price changes in broker’s price feeds can be displayed and analysed within the Metatrader 4 platform.
Main functions of MetaTrader 4:
– Trade Execution
– Display of live Forex charts that show price changes tick by tick
– Provision of analytical charting tools including all the major indicators, allowing technical analysis by the user of both live and historical Forex charts
– Provision of news and alerts that can be customized by the trader
– Display of current open trades and closed historical trades
– Automated trading by expert advisors (EAs)
– Tool for the creation of customized indicators and “expert advisors”
– Back testing trading strategies with historical data