As technology and the possibility of automating business processes is growing, we are witnessing various trading platforms emerging in the market. But amongst all, MetaTrader 4 is one of the widely used platforms that come with an in-built scripting language, allowing traders to make their own expert advisors (EAs) which are ideal for algorithmic or automated trading.
It also features advanced charts that are compatible with multiple time frames along with a huge library of technical indications which gives an accurate interpretation of forex markets. Due to its highly customizable options and interactive user interface, it is considered safe and secure MT4 plugins for users.
While MetaTrader 4 has become a dominant choice for professional traders, there are still various aspects you should know about to make the right selection and solve your business challenges. Keep reading to attain a clear understanding.
What is MetaTrader 4?
MetaTrader 4 or MT4 is a popular trading platform, developed by Meta Quotes Software in 2005 which has been adopted by many brokers in the forex trading industry. It offers live streaming of charts and prices, as well as a portal to place orders and functionality to handle accounts within the chosen broker. Traders can use it to open, close, and manage trading operations in the forex markets.
Why is MetaTrader 4 Highly Popular?
For a beginner, trading, and understanding the forex market could be very intimidating, especially when he/she is making all the decisions alone. The MT4 is one such platform that ensures a safe and secure trading environment for both beginners and professional traders. Here are some factors that justify and support its popularity:
The interface is well-structured and allows users to trade the dynamic forex industry with a minimum of effort and time.
Support Dozens of Languages
It supports multiple languages which means traders from all over the globe will face no complications in operating this platform in their own native language.
Expert Advisors (EAs)
It has the ability to support automated trading with the usage of expert advisors. EAs are typically a script that is created with MQL 4 language to implement trading automatically without any fuss.
Advanced Charting Package
Forex traders mainly rely on the price market to effectively analyze and trade the market with a range of technical indicators simultaneously.
Keeping the traders’ personal information confidential is extremely important. MT4 offers a secure environment that is not vulnerable to hacking attacks.
About The Author
An experienced programming team having high proficiency in offering web applications, server plugins, customized solutions, trading tools, and technical support to MetaTrader4 brokers, their white labels, and IB’s. The company is helping forex traders to solve their challenging cases by automating their business processes and making the right selection of technological solutions.