Metatrader 4 Review

Who can use MetaTrader 4 ?

Newbies

MetaTrader 4, with its simple design, excellent user interface and functions such as copy trade application and expert advisors will be enough for you even if you are an beginner.

Most brokers offer this as a single platform or as an add-on with their own custom platform, which allows you to find thousands of resources for training and use of the platform. The fully functional demo account offers powerful support for beginners.


Experienced Traders

The platform also has advanced graphics capabilities and technical analysis tools, various built-in indicators and charting tools. It can meet the needs of experienced investors. In addition, you can write your own codes with MetaQuote’s MQL4 language and create custom indicators to enhance the almost perfect software with additional features.


The MetaTrader 4 Platform and Tools

MetaTrader has desktop, web and mobile platforms. The platforms support more than 30 languages including English, French, Spanish, Portuguese, Japanese, Chinese and Russian. The desktop platform is perfect for studying charts and also offers the ability to perform advanced executions, run trading robots and copy trades.

Source: MetaTrader

The client terminal of the platform allows three different operating modes:

  • Market order
  • On demand activation
  • Market dependent activation

Orders placed through MetaTrader 4 are may be executed at the current market price or can be a pending order. Pending orders are orders placed to buy or sell a security at a predetermined price or market condition in the future.

A pending order can be a limit order, stop order or stop-loss order. The platform’s quick process function sends orders with a single click from the chart. Another feature, called the built-in tick, helps to accurately identify entry and exit levels. Price movement can be analyzed in 9 time frames. The platform has 30 built-in technical indicators and 24 chart objects.

The MetaTrader 4 platform also provides security and meets the highest security standards. Your trading account is secured by encrypting the data exchanged between the client terminal and the servers of the platform and using RSA digital signatures. The web platform allows you to perform transactions using any browser and operating system without having to install any software.

Source: MetaTrader 4

MetaTrader 4’s mobile platform gives you full control over your trading account, and you can access it anywhere, anytime. The free chat option also helps you communicate with other investors. MetaTrader 4 offers automatic trading with the help of automated trading robots called Expert Advisors (EAs). EAs can analyze graphs and perform transactions.

These EAs or robots can be downloaded for free from Code Base, a library of free EA codes, technical indicators, and scripts. Alternatively, they can be purchased or rented from the Market which is an online store built in the software. You can also order EAs from professional MetaTrader freelance developers and have them code an EA according to your needs.

MT4 has a copy trade feature where you can copy the trades of a successful trader that you choose. Signals may be free or not. These free and commercial signals are available on the Signals tab of the trading platform and on the firm’s website. You can choose a signal provider and start copying commercial trades without leaving the platform.

The platform’s alarm tool allows you to generate an alarm for certain trading conditions, such as price exceeding a certain level that you determine earlier. When the specified event occurs, you will be notified by voice or notification.


Price of MetaTrader 4

Metatrader 4 can be downloaded for free from the website. Right after the installation you will be asked to open a free demo account to test all the features of the trading platform.

When you access the platform via a broker, you can log in to your account by entering your user name and password. Most brokers offer Metatrader 4 free of charge to their customers. In this way, you do not have to pay any fees for the trading platform.


MetaTrader 4 Compatibility

All you need is a computer which is not 15 years old.

  • Operating System – Windows XP/2003/Vista/2008/7/8/10
  • You can use MT4 at MacOS with the help of third party softwares.

For installation on Mac OS, a program installer called PlayOnMac is required and can be downloaded for free. Wine and PlayOnMac do not guarantee perfectly installed programs; sometimes errors can occur. If you want to install MetaTrader 4 on a tablet or smartphone with Android OS, Android 4.0 or higher is required. For an Apple device, iOS 7.0 or higher is required.


MetaTrader 4 Customer Service

You can find help topics such as installation, customer terminal settings, user interface, working with charts, analytics, trading, auto trading, tools, articles, signals, market and virtual hosting at the MT4 website help section.


MetaTrader 4 Ease of Use

After downloading the platform you will start working in no time. The user interface, despite its advanced features, is extremely easy to understand and use. The ability to accurately export orders from graphics enables quick implementation and helps you taking trade opportunities.


Last Thoughts

Since MetaTrader 4 is the most preferred platform for most brokers, you may not need to learn to trade with another trading platform. The platform’s analytical tools are unrivaled, and the copy trade feature helps beginners to benefit from the expertise of experienced professional investors without burning their fingers. It also facilitates automated trading by purchasing or improving your own EAs.

MetaQuotes wanted to advertise their new products after releasing MetaTrader 5. Therefore, there may be a possibility that the support given to MT4 can be withdrawn after a while. However, if you already have an MT4 program running, the same program will probably work even if you don’t update for a long time.

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