Why Metatrader Rules in Forex Trading
Why are so many people choosing to use Metatrader 4 as their preferred way to participate in the financial markets? There are dozens of reasons, and that’s probably because MT4 is a complex, highly efficient, evolved product that has millions of research hours behind its development. In terms of trading technology, it is without a doubt at the top of its field. Why is this unique trading platform the most popular in the world, among amateurs, professionals, and everyone in between? Here is a short list of the key reasons, in no particular order.
You Can Customize It to Your Heart’s Desire
There’s total flexibility, meaning you can customize indicators and add expert advisors. There’s even a built-in programming language for developer types who like to write their own code.
It’s Extremely Secure and a Miser with Energy
Encryption is highly sophisticated and the system uses very few electronic resources. That means you need not worry about your PC conking out in mid-trade. There’s a 129-bit key for hyper security and your IP is never revealed to anyone. A bonus of its low-resource use is that the program can react with lightning speed when you need to place an order quickly.
You Can Trade Almost Anything in Any Market
Whatever markets and instruments you prefer, MT4 can handle them. It’s not just for forex, but is equally adept with stocks, futures, options, currency pairs, commodities, and more. As long as a market is open for business, you can place orders.
It’s Speaks Every Language & the Charts are Amazing
Wherever you live and whatever language you speak, it’s no problem communicating with the program. Technical aficionados love the charts, which are the best in the industry. You can opt for standard charting with as many indicators as you like, or create your own charts and parameters right on the system.
The Interface is User-Friendly
Here is where this platform really stands out. Competitors can’t match the diverse range of MT. Whether you are a new or seasoned pro, it’s simple to find your way from one part of the screen or page to another. In fact, after just a few hours of getting used to the functionality, you’ll feel comfortable on your own.
It Offers Excellent Communication Capability
With the click of a mouse, you can send and receive emails from a live broker as the day progresses and even while you are placing orders. This real-time communication capability sets Metatrader apart from much of its competition.
It Can Incorporate Expert Advisors
If you don’t feel like spending your free time with your eyes glued to a chart as price actions goes sideways, it’s easy enough to attach your favorite EA to MT and let the bot do your bidding for you.
You Can View Multiple Market Profiles and Histories
No matter what you trade or how many markets you participate in, the platform lets you see very quickly what your trading history is, what the key charts are for a particular market, and related data.
It’s Ideal for New and Experienced Developers
If you want to create your very own algorithm based on nothing more than an idea that popped into your head while trading, MT4 is ready. It includes all the simple and complex tools anyone would need to create from scratch. Even if you have no SQL skills to speak of, you can still construct a trading bot or unique indicator with third-party tools. Probably the best thing about this MT4 feature is that it allows anyone to set up a completely automated trading environment.
Testing and Simulation are Easy to Set Up
Not only does the platform offer practice accounts that are filled with virtual funds for simulated trading, you can perform an unlimited number of tests via a robust array of back-testing controls and features. Beginning and advanced market enthusiasts can learn a lot by spending time on the sim and perfecting their order placement and execution techniques. Furthermore, some of the most experienced uses regularly back-test various theories in order to see how their new ideas would have performed in historical market intervals.
Mobile Support is Solid
Metatrader has kept up with the times. When it first arrived in the world, smartphones were non-existent, as were tablets and other high-tech devices for mobile use. Today’s MT4 works well with mobile versions of Apple, Microsoft, and Google phones. The platform even supports Linux’s open-source OS. For people who enjoy placing orders on-the-go, Metatrader allows them to buy and sell from virtually any communications device.