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 a 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:
The installation process starts with opening a demo or real account with a broker. Once your forex account is open, you should receive Login, Password, and Server details via email from your broker, the email should contain links to download the MetaTrader 4 installer too. Also, the platform is available for download on broker’s websites which supports this trading platform. You can download MetaTrader 4 for your laptop or PC at the XM.com website. Once installation is complete log into a demo or live trading account with Login, Password, and Server details received. The platform is up and running, price changes in the broker’s price feeds can be displayed and analyzed 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 currently open trades and closed historical trades
– Automated trading by expert advisors (EAs)
– Tool for the creation of customized indicators and “expert advisors”
– Backtesting trading strategies with historical data