It’s impossible to build a country with a healthy economy in isolation; there will always be a need to export excesses and import scarce goods. And, to move all of these, currencies have to move across borders.
But, except in political blocs, like the Eurozone, where multiple countries have agreed on a single currency, every national government issues a unique currency that is only legal tender in their territories.
The foreign exchange market enables traders to swap currencies as necessary, thus enabling international trade and strengthening the world’s economy. But that’s not all. With appropriate positioning, traders can also earn huge profits off these currency exchanges too.
Today, the global forex market has ballooned to $6.6 Trillion in daily transaction volume. In this article, we introduce you to the market’s biggest and most preferred forex trading platform – Metatrader 4.
What is Metatrader 4
The online forex trading market is only a few decades old, having only started in 1996, and Metatrader is one of its earliest platforms.
Released by MetaQuotes in 2005, Metatrader 4 has grown into becoming the gold standard for forex trading. Not only can you trade forex on Metatrader 4, but you can also trade commodities, indices, and now, cryptocurrencies.
Although there are thousands of other trading platforms in the market, including proprietary platforms operated by brokers, the general trading public continues to prefer MT4 for its ease of use, global reach, and technical capabilities.
And despite its already wide library of technical indicators, MT4 allows traders to create an unlimited number of technical indicators and expert advisors, thus allowing them to customize their trading experience to the tiniest detail.
Compatible operating systems
The world is much different than it was in 1996. To make any online trades, you had to have a personal computer, which back then was heavier, costlier, slower, and less common than they are today;
It was a highly inefficient system. However, thanks to the advent of technology, anyone can carry out transactions at much greater speeds on a variety of devices.
- Metatrader 4 for Windows
Metatrader 4 was originally developed for Microsoft’s Windows OS, seeing as it was the most prevalent operating system at the time. Click here for MetaTrader download, to set up your very own trading terminal on your Windows PC.
- Metatrader 4 for macOS
For its first few years, MetaTrader 4 was available for macOS, and traders had to use third-party emulation software to get the MT4 app to work on their Macbooks. Today, you no longer have to do that. You can simply download MTrading’s MT4 app for Mac here.
- Metatrader 4 for iOS and Android
Mobile trading has vaulted into pole position in customer preference these days. The modern lifestyle has most people living their lives constantly on the go.
Mobile trading allows them to continue to trade and monitor the markets with the highest convenience, even in these moments. You can always find the Metatrader app on the iOS and Google app stores.
- Metatrader 4 web trader
If you can’t download the app, or if for some reason you would prefer to trade in your device’s browser, rather than download the app, you can always trade through Metatrader 4’s web interface.
MetaQuotes Language 4
The MQL 4 is one of MT4’s most widely acclaimed features. It’s a custom programming language with which traders can create personalized expert advisors, technical indicators and other technical tools for use in trading.
Built on elements of C++, MQL 4 confers the flexibility and ease of use that MT4 is most known for by enabling traders to write algorithms for the automation of parts or all of the trading process.
With sufficient expertise and powerful hardware, traders can commit the entirety of their trading to these algorithms, in what is known as algorithmic trading.
Algorithmic trading on Metatrader 4
Algorithmic trading is one of Metatrader 4’s biggest selling points. As we’ve said in the section above, with a trading robot, traders can easily set up a system to trade automatically with little or no input from them.
Even for those who want to remain actively involved, these algorithms cut out a significant portion of the work.
There are some expert advisors on MT4 that can be downloaded free of charge. However, for the best experience, it’s always best to write the algorithms yourself.
If you cannot create robots by yourself using MQL 4, you can always purchase them from experienced traders in the MT4 market.
Benefits of trading on Metatrader 4
If you’re new to forex trading, you probably have a hard time understanding all of the technical terms that we’ve used in this article. So, in a few points, let’s highlight in simple language the benefits that you stand to gain from choosing Metatrader 4.
- It is wide-reaching
When you want to trade anything online, your best bet is always the platform with the widest reach. It allows you to access true diversity in options. And that’s what Metatrader 4 is in the forex trading community.
It doesn’t only allow you to connect with highly sophisticated traders across the world, it provided access to the highest number of tradable assets of all forex trading platforms.
- Its highly user friendly
Second, no one is ever born an expert at anything, we all have to learn gradually. And in trading forex, you need a platform that’s intuitive and easy to use, so that you don’t lose money unnecessarily to silly mistakes. Metatrader 4 does just that.
- It has unbeatable technical capabilities
Forex trading is a highly technical endeavor. You need technical indicators, and so many other tools to help you understand the market enough to correctly predict price movements.
Not only does MetaTrader 4 have the largest collection of technical tools, but it also allows individual traders to create custom tools for advanced analytics.
Forex trading can be a highly rewarding activity. However, to increase your chances of making it so, you need the best tools at your disposal.
And Metatrader 4 provides any forex trader with the best tools anyone could ask for. Sign up to MTrading today, download our Metatrader 4 apps, and get started.