When it comes to flexibility, MetaTrader 4 is top of the line. This could be one of the main reasons for its immense popularity, especially among retail traders. It will be hard to come across a Forex broker who won’t offer the MT4 trading platform. Additionally, this trading platform is so complete with excellent indicators and wonderful features. Knowing the benefits of this trading platform allows you to determine if this platform is the perfect one for you.
It’s Free of Charge
There are a lot of trading platforms that can compete with MT4. But one thing that’s really great about it is that this trading platform is free of charge. And other prominent software and trading platforms out there couldn’t match that. Since it is free of charge, you can use readily the built-in indicators, expert advisors, and all other built-in tools and features found in the platform. You don’t have to pay a penny for the download, you can just spend your funds on other programs that could help you in trading.
Vast Number of Features
Another good reason to use MT4 is the vast number of features that can greatly help with your trades and the predicting of the price movements. Some important features of MT4; Multiple charts that are easy to use, automated trading, navigator window, 80 built-in indicators, market watch window, indicators window, and Pepperstone market terminal.
These features are what you need if you want to go simple and less complicated trading, ideal for newbies. The MetaQuotes Software Corporation, developer of MT4 and the newer trading platform, the MetaTrader 5 didn’t stop creating new features and updates ever since the launch of MT4 in 2005. Some of the added features in MT4 as one-click trading for fast order execution, a news section that allows you to be updated with the latest news in the financial world, the signals section, and more trading instruments.
Easy To Use
New traders are still not familiar with the market, no matter how many books you’ve read or the different suggestions you’ve heard, the experience is still the best teacher. And newbies tend to get preoccupied with getting profit and dealing with the market to prefer a complicated trading platform. Because of this reason, most beginners choose to use MT4 rather than the more complicated MetaTrader 5 trading platform.
As much as possible, simplifying the trading process is much preferred. And for MT4, it already has the best and most needed technical indicators and tools in trading. It is simple to use and easy to navigate. More importantly, it has one-click trading that’s a very handy and customizable tool.
The MQL4 Programming Language
When choosing a platform, it is important to check the programming language being used. In MetaTrader 4, it uses the MQL4 programming language that’s known to be straightforward preferred by programmers, traders, and third-party participants that create trading robots or the Expert Advisor. Aside from the built-in indicators and the Expert Advisors, there are also thousands of third-party indicators and robots exclusively available for the MT4 trading platform.