First launched in 2005, MetaTrader4 (MT4) is the platform of choice for more than 80% of all traders around the globe. So, it is no wonder that more than 10 years after its launch, the MT4 is still offered by the majority of forex brokers.
Charting & Technical Analysis
The reason why MetaTrader4 has gained immense popularity is not just because it’s easy to use, but because it offers a plethora of useful features and tools. For example, the charting package of the platform is second to none. Not only that you can select different chart types time frames, colors, create templates, but there is a plethora of technical analysis indicators to choose from. Most traders use indicators such as Bollinger Bands, Fibonacci retracement, moving averages, in combination with support and resistance to help them predict the future direction of exchange rates and make profit.
EAs & Back-testing
Another prominent feature of MT4 is the automated trading. Users can run automated trading sessions with the help of specially designed Expert Advisor bots, which are easily customizable. Speaking of customization, those who have some coding skills can create indicators and EAs of their own.
Many traders who use EAs carry out back testing to see how a certain bot might perform over historical trading periods. Running back-tests shows traders what they can expect from the EAs, and which ones are worth it.
One-Click & Signals Trading
Apart from the fast order execution speed, the MT4 has a built-in One Click Trading function, which enables you to perform trade operations with a single mouse click. Besides, those who don’t have the time or the skills to trade on their own have another option on this platform. It is called signals trading and allows users to automatically copy the deals performed by other traders in real time. Many successful traders become signal providers, offering public access to their trades either for free or a reasonable fee.
With its intuitive interface, and professional tools no wonder that MetaTrader4 has stood the test of time and established a market dominance in the forex sector. It seems, however, that this platform is destined to become a relic of history in the years to come, as its developer, MetaQuotes, has put a lot of efforts in making its successor, the MT5, functionally better. What is more, the company has announced that it will no longer update the MT4.
Nonetheless, by the time of writing this, the platform is still functional and preferred by both beginner and professional traders. The MT4 is available as a desktop download, web version, as well as Android and iPhone mobile apps. Here you may take a look at our list of brokers offering the MT4.
MT4 related news
The automated forex broker RoboForex has launched the hedging option of the MetaTrader 5 (MT5) platform. In an announcement to its clients,
Russia-based financial software developer MetaQuotes released on Tuesday an update to the mobile application of the MetaTrader 4 (MT4) trading platform for
The Forex.com Japan, a brand of Gain Capital Holdings Inc (NYSE:GCAP), announced it will be cutting the maximum leverage on the corporate
MetaQuotes, the developer of the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) forex trading platforms, said on Monday it has introduced to
PhillipCapital UK, part of forex and contracts for difference (CFDs) brokerage PhillipCapital group, has partnered with oneZero Financial Systems, a trading software
Cyprus and Belize-regulated forex brokerage group EXNESS said on Monday it has introduced the web version of the MetaTrader 4 (MT4) trading
Offshore online forex broker OctaFX has started offering the web-based version of the MetaTrader 4 (MT4) trading platform. Users can access it
London-based forex broker Admiral Markets UK said on Monday it has adopted MT4 WebTrader, the web-based version of the MetaTrader 4 (MT4)
Forex broker DMM FX Australia, part of Japanese electronic commerce and Internet group DMM FX, said on Wednesday it has added the
Binary options broker World Forex said on Monday it has introduced US and European options for the MetaTrader 4 (MT4) trading platform,