There are many forex trading platforms out there and which one to use should be an important consideration when choosing a forex broker. Experienced brokers tend to use the MetaTrader 4 platform for a number of important reasons.
The forex market has used the MetaTrader 4 trading platform as an industry standard and is used by hundreds of brokers around the world. It’s not a normal decision.
The MT4 platform offers advanced technology and higher security so that traders can open and close forex positions without having to worry about the stability of their platform. The platform offers more than fifty pre-installed technical indicators.
MT4 offers users nine different time periods and three different time charts. All these key features give traders the ability to closely monitor the market and allow market entry and exit at specific times. The following is a list of advantages offered by the MT4 forex platform:
Table of Contents
User Experience
A very intuitive interface that allows new and experienced traders to trade with ease and comfort in this complex and volatile market. Traders of all skill levels will find this forex platform easy to use. With the mobile trading application, you can access the MetaTrader platform on the go. You can download the MT4 platform on your computer, tablet and mobile.
Chart
Apart from the advanced and user-friendly MT4 trading features, the platform also offers advanced chart creation features. These advanced charts allow traders to trade and analyze the technical aspects of the market at the same time. You can change the color and style of the chart and even download the predefined templates to reflect your personal preferences. This makes the diagram easier to read. Since you can remove features you are not interested in, focus on your priorities.
Expert Advisor
This is a very popular and important asset in the MT4 asset portfolio. Expert advisors allow traders to automate their trading with special tools that best suit their needs. The success and popularity of the MetaTrader platform is largely based on its trading algorithm.
Communication
The MT4 platform also includes advanced communication tools that allow brokers to send messages and communicate with their traders in real time. Obviously, this avoids the need for long and complicated email subjects and makes the experience easier for operators. MT5 also allows attachments to this email. In Malaysia, well-known brokers such as Forextime (FXTM) also maintain good and smooth communication with traders via MT4.
Lack of Resources
Unlike many other platforms, the MT4 platform is quite resource efficient, which means that pc downtime is minimized. In addition, the platform can respond faster and execute trades and trade requests promptly.
Profile
Users can also view account information in the actual platform interface. The information provided includes your account balance, transaction history, login information and password information. You can easily customize the windows and graphics of each profile. Each market can also be set as your profile so you can quickly switch between them.
Security
When it comes to sensitive and personal subjects like forex trading, you want to know that you don’t run the risk of being hacked into your account. MT4 is a very secure platform that encrypts data between the trader and the server with a 129-bit key. Trader’s ip address is also completely hidden.
Flexibility
The MT4 platform is designed to support all currency pairs and the ability to trade in other markets such as commodities, futures and stocks.
Given the benefits it has to offer, the MT4 Platform has become an industry standard and there is good reason for that. Despite its complex and advanced features, the user interface is easy to use and intuitive, making it an attractive choice for both new and experienced forex traders. MT4 is the most popular MetaTrader platform in the world, which in itself is a testament to its superiority.