What is MT4? Basically, MetaTrader 4 is an online trading platform that offers a straightforward and intuitive approach. It is used by Forex traders to speculate on the movement of the financial markets like indices, stocks, cryptocurrencies, commodities, and Forex. MT4 became extremely popular because users love the fact that they can create their own unique automatic trading strategies. It has become one of the most favorable and easy-to-use trading platforms that offer automated trading. If efficiency is important for you, then MT4 is a really good choice.
Benefits of MT4 Platforms
Currently, there are 5 main benefits of MT4. Real-Time Access to Liquidity and Market Prices, Availability of Fundamental and Technical Analysis tools, Multiple Trading Orders, Top-Notch Security and Stability, and Automated Trading Options.
Real-Time Access to Liquidity and Market Prices
Users can easily view different currencies and securities at the Market Watch window as well as the security symbol and the bid/ask quote. Other details that can be viewed by users include contract size, margin percentage, spread, and margin currency.
Availability of Fundamental and Technical Analysis tools
You need price analysis tools to determine the price movement in the market. In this case, MT4 offers a multitude of in-built fundamental and technical indicators as well as charting capabilities. There are more than 30 built-in technical indicators like Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), Fibonacci Retracements, and On-Balance-Volume (OBV).
Multiple Trading Orders
MT4 ensures that users can enjoy high flexibility as they offer different execution modes and trading orders. These things help create and implement their chosen trading strategy. There are currently four types of pending orders and two market orders available in MT4.
Top-Notch Security and Stability
Throughout the years, MT4 is known for being a stable and highly secure trading platform. The data exchange happening between servers and terminals is all encrypted with a 129-bit key. The platform is supporting RSA digital signatures.
Automated Trading Options
MT4 uses Expert Advisors (EA) for automated trading. It allows traders to leverage market movements without having to intervene, decreasing human biases and emotions.
How to Trade on MT4
The first thing you need to trade on MT4 is an account. You can open an account for a demo or live. After you enter your details, you will receive an email that contains your login details for your MT4 account.
Step 1: Opening an Account
You will need to complete an application form for Live trading. After your account is verified alongside your identity, you will now be redirected to another page where you will set up an account.
Step 2: Funding Your Account
After you create an account, it’s time to fund it and start trading. You can deposit funds from your bank, credit card, or E-Wallet.
Step 3: Start Trading
The moment of truth has arrived. Use your trading plan and strategy to get the most out of MetaTrader 4. Aside from desktop, you can also trade on any device like iPad, Android, iPhone, and web browser.
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