Those who are just starting out in the world of forex trading are likely to face a wealth of options on the trading platform front. ZuluTrade, NinjaTrader, and Trading Station—among others—all have plenty to offer, but there is one trading platform that appears to be head and shoulders above the rest. MetaTrader 4 (MT4) is used by all leading forex trading experts and is truly award-winning in stature. Considering its comprehensive nature and growing reputation, the following looks at why MT4 is the perfect trading platform for almost every forex trader.
Fast and Easily Customizable
Latency can prove to be destructive in the forex market, as market conditions can change and shift in a flash. MT4 tends to outdo other trading platforms on the speed front, largely as it has been developed to initiate trades as quickly as a forex broker can process them. Speed is crucial when it comes to trading forex, so it’s refreshing to see that MT4 isn’t afraid to make it a priority. Adding to that, MT4 is impressively flexible, as through a wealth of customization options any trader can set up MT4 as desired, which can further aid fast and impactful trading.
Works as a Cross-platform Trading Solution
MT4 is anything but desktop-exclusive; this means the door is kicked open for use whenever and wherever any trader sees fit. From your computer to your smartphone, MT4 is simply perfect for any trader who’s often on the go. Even if you’re away from home, you can execute trades and keep a firm grip on your account through MT4’s impressive mobile offering.
Supports a Wealth of Different Languages
The forex market is global in practically every sense of the word, as it brings together not just a host of currencies, but various cultures and countries as well. For this reason, MT4 is able to keep the pace as far as language support is concerned. You’ll find that the platform is able to display text in more or less every commonly spoken language. Breaking down the language barrier, MT4 makes it easy for traders of any nationality to get involved in forex trading.
Offers up Countless Charts and Indicators
Data and statistics are key to anybody finding success in the world of forex trading, so it’s great to see that MT4 puts them right at your fingertips. Any type of indicator or chart function can be installed into MT4, which means that you can easily stay on top of market developments.
Built on Secure Foundations
Every forex trading account will carry a cash balance, which can range from pennies up to hundreds of thousands of any particular currency. For this reason, platform security is absolutely crucial. MT4 carries stern and substantial security standards that ensure that your account is airtight no matter the type of device you’re using.
Well Designed and Increasingly Flexible
These days you would be hard-pressed to find a trading platform that’s poorly designed, but usually fine design comes at the expense of flexibility. These drawbacks aren’t apparent in MT4, as the platform can run smoothly because it is resource-light. This makes MT4 perfect for new devices, old devices, and mobile devices. Low resource requirements also ensure that from the ground up the platform can function in a fast fashion, while it’s also possible to run it as a background application, which can aid analysis and research.
Features Expert Adviser Support
Automation is now a key part of the forex trading experience, with expert advisers playing a key role in why this is the case. An expert adviser is able to initiate trades on behalf of a forex trader without the need for direct manual input. Made up of powerful scripts, when used effectively an expert adviser can be a data-driven tool that can improve a trader’s activity levels. MT4 allows for effortless expert adviser support, which means that a trader can install and remove them at will.
Carries a Low Barrier for Entry
Other trading platforms—for all that they have to offer—are usually far too complex for many traders to fully grasp. MT4 is different, as it carries a low barrier for entry. Simple and intuitive throughout, once you’ve loaded the platform, everything you require to trade is displayed cleanly on screen in an easy-to-understand fashion. Detailed enough for experienced traders to enjoy yet simple enough for novice traders to make full use of, MT4 is a true one-of-a-kind trading platform when it comes to accessibility.
Perfect on Any Connection
One of the great things about MT4 is that it's efficient enough to run on a 10 year old PC working in an internet cafe in Timbucktoo. This is great as it means traders are never cut-off from the action no matter the location or quality of their connection.
Compatible with VPS Servers
Many traders demand 100% uptime or ultra low latency execution and while MT4 is super efficient and can run almost anywhere it can be teamed up with a VPS server to make it the optimal setup for high reliability, low latency trades 24/5. The use of VPS servers has meant that MT4 is not the go to of professional traders and even hedge funds for reliable automated trading.
The competition between forex trading platforms might be fierce, but MT4 is clearly pulling away from the chasing pack. Bringing together seamless functionality with easily accessible data, along with total customization and airtight security, there is simply no denying that MT4 is the perfect forex trading platform for every investor.
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