6 Reasons Why MT4 is the Most Popular Forex Trading Platform
Metatrader 4, or MT4 for short, built by Metaquotes is the most popular Forex trading platform on the planet and has been for 10 years or more now. In this blog post we look at 6 great reasons why it is so popular.
Easy to Use
The MT4 platform is super easy for Forex traders new and old to start using. Metaquotes have removed a lot of unnecessary complexities from the platform while making it intuitive to use. All the vital information like charts, indicators, and prices is available in a few simple clicks.
One of the key features of MT4 is its reliability. It is almost unheard of to hear anyone complain about reliability. Tested by hundreds of thousands of traders over many years, the platform is now a very reliable choice for traders who understand that even a moment of downtime can cost a lot of profit. The platform is also optimized for both low-power devices and slow internet connections. This is great because unlike other platforms that look good but then slow down when you need them, MT4 will be reliable in all conditions.
MT4 is available on Windows PC, Android, iPhone, and web browsers. A single account login will work simultaneously across all devices, meaning a trader can set up his trades from his morning office, monitor them on the go from his mobile, and then close a trade from an internet café when his phone battery has died, never missing an opportunity.
One of the most powerful innovations for the MT4 platform was the introduction of expert advisors (EAs). These are small pieces of software code that can be written by a trader and used on the MT4 platform to automate their trading strategy. Since Forex is a 24-hour market, this is great for traders to increase their trading opportunities or allow a trader to continue to trade while doing another job.
Metaquotes followed the trend set by Apple by adding an app store to the MT4 platform. The app store allows traders to purchase or rent both EAs and trading signals. This allows novice traders, those without programing skills, or those short of time easy access to setup and automate any trading strategy they want.
Last but not least is the VPS or virtual private server. Traders can lease a VPS for a small fee each month or often get one free from their broker. A VPS then allows a trader to run the MT4 platform remotely on the VPS server, making automated trading super fast and super reliable 24/7 with the trading platform hosted in a secure datacenter and supported by IT professionals at all times.