MT4 or MetaTrader 4, a popular trading platform that is for traders all over the world. Released in 2005 by MetaQuotes Software Corp, it quickly gained popularity among traders due to its user-friendly interface, advanced charting features, and ability to automate trading strategies. 

MetaTrader 4 (MT4) has set the industry standard for a forex/CFD trading platform. Foreign exchange brokers who offer the platform to clients receive the MT4 license. Brokers then run the server component and provide the software to customers.

Allowing traders to simultaneously remain on top of their trades and charts, place orders, and manage their accounts. Having minimal flaws in comparison to its browser-based competitors, the platform is simple to manage and utilise. Resulting in it being the industry’s most utilised platform which is accessible on mobile devices and supports Android, iOS, and windows mobile.

What’s the function of MetaTrader 4?

MT4 is not fully functional in the stock market or exchange-trade futures. Although being the most popular trading platform,. In this case, some would prefer to utilise the MetaTrader 5 (MT5) platforms which work with equities and commodities exchange-traded commodities. However, in terms of trading automation both MT4 and MT5, can make use of custom indicators and trading programs.

Nevertheless, when it comes to trading Forex, MT4 remains the recommended program. The purpose of the tool is to trade forex that facilitates CFDs. Whereas MT5 facilitates non-Forex CFDs. Meta trader 4 is a platform that funtions on margin trading which means that a customer would have to open a loan account with their broker which then can used for share trading. 

What are the MT4 Components?

To best facilitate a trader’s needs, MT4 consists of specific components that aim to assist the broker’s clients. One of them is the client terminal which is offered by brokers in the form of real-time online trading. Brokers like TD Markets offer this in the form of Demo accounts where customers are able to exercise trading. In addition, traders are able to program trading strategies, indicators, and signals.

MT4 is available for free download from the MetaQuotes website and is also used on desktop, mobile, and web platforms. It offers a wide range of tools and features that enable traders to analyse financial markets, place orders, manage trades, and automate their trading strategies. 

One of the most attractive features of MT4 is its advanced charting capabilities. Traders can choose from various chart types, including line, bar, and candlestick charts, and customize them with indicators and drawing tools. 

What Makes MT4 Unique 

As a platform, it has the combination of a user-friendly interface, advanced charting tools, automated trading capabilities, customizable indicators, back testing functionality, and multilingual support making MT4 a unique and powerful trading platform for forex traders.

User-friendly interface: MT4 has a user-friendly interface that makes it easy for traders to navigate and use the platform. 

Advanced charting tools: MT4 provides advanced charting tools that allow traders to analyze the markets in depth. These tools include a variety of technical indicators, charting styles, and drawing tools. 

Automated trading: The platform supports automated trading through the use of Expert Advisors (EAs), which are software programs that can be used to automate trading strategies. Customizable indicators: MT4 allows traders to create and customize their own indicators, which can be used to analyze the markets in unique ways. 

Backtesting: It allows traders to backtest their trading strategies using historical data, which can help them to identify potential weaknesses in their strategies before they risk real money in the markets. 

Multilingual support: MT4 supports multiple languages, which makes it accessible to traders from around the world. 

Read More: What Are CFDs In Forex?

Final thoughts on MT4

When interested in trading currencies it is best to start your trading journey with a broker like TD Markets which offers you the services of the MT4 platform in this way a client able to exercise their trading demo accounts s and is able to simultaneously remain on top of their trades and charts, place orders, and manage their accounts.