In 2005, MetaQuotes created the trading platform known as MetaTrader 4 (MT4). MetaTrader 4 primarily serves forex trading but also allows users to trade various markets through CFDs, including commodities, indices, and forex.
MetaTrader 4 is the trading platform of choice for millions of traders with a variety of needs. Two factors contribute to MT4’s popularity.
The first is that you can easily tailor it to your unique trading requirements and preferences.
Secondly, it can automate your trading by putting in place algorithms that open and close positions based on predetermined criteria.
Advanced technical analysis, a flexible trading system, algorithmic trading, Expert Advisors, and mobile trading applications are just a few of the opportunities the platform provides to traders of all skill levels.
What is forex trading?
Forex investing, sometimes referred to as foreign exchange or FX trading, involves converting one currency into another.
Every day, people, businesses, and banks transact about $7.5 trillion in foreign exchange, making it one of the most active markets in the world.
Forex traders handle the majority of currency conversion to make a profit, although many exchanges occur for practical reasons. Before investing in forex, understand that the high daily volume of currency conversion can cause significant price volatility for some currencies.
Forex trading operates similarly to any other transaction in which you use a currency to purchase a single asset. The market price in forex informs an investor of the amount of one currency needed to buy another. The current market price of the GBP/USD currency pair, for instance, indicates how many US dollars one pound would cost.
Every currency has a unique code that enables traders to quickly recognise it when it is part of a pair.
Why do traders choose to trade forex on the MT4?
MT4 is a great option for beginners once you get used to it. It’s easy to learn, and there are plenty of resources and guides available.
This indicates that MT4 is suitable for almost all trading experience and skill levels. The fact that MT4 is so customisable is another factor contributing to its popularity among traders.
Other than that, one strategy to lessen your exposure to risk is to hedge. You can achieve this by starting positions that may increase in value if some of your other positions lose value, with the gains ideally offsetting at least some of the losses. Currency correlations provide an effective way to hedge forex exposure.
As an illustration, consider the EUR/USD and GBP/USD exchange rates, which have a positive correlation due to their propensity to move in tandem. Therefore, if you were long EUR/USD, you could short GBP/USD to protect yourself from future market drops.
Also, thanks to the extensive global network of banks and market makers that exchange currencies continuously, the forex market is open twenty-four hours a day.
The forex market is open twenty-four hours a day because of the time differences between the US, Europe, and Asia, which are the main sessions.
MT4: A powerful platform for flexible & automated trading
MetaTrader 4 is one of the strongest platforms available on the market thanks to its versatile trading system, which enables both algorithmic and mobile trading.
MetaTrader 4 for Android, Windows, iOS, and macOS offers traders charts, trading signals, and technical indicators that enable automated trading. The MT4 WebTrader doesn’t need to be downloaded and can be started online.
Everything you need to analyse assets, manage positions, and place orders is included in MT4, regardless of your level of experience.
The platform has become the industry standard for online trading due to its fast execution speed, affordable prices, and adaptable trading conditions.
Key features of the MT4 trading platform
Analytical instruments
To determine entry and exit points, traders can utilise a variety of analytical tools, including 23 analytical objects and 30 built-in technical indicators. There are also trading signals and trailing stops available.
MT4 Trading Automation
50+ technical indicators and pre-installed Expert Advisors (EAs) enable automated trading on financial markets.
Safety
T4Trade places a high premium on data and financial security. As a result, all correspondence between the MT4 platform and the server is encrypted.
Flexibility in MT4 trading
One-click trading, three chart types, nine distinct timeframes, outstanding support, customisable charts, and a versatile trading experience are all available to traders with MetaTrader 4.
How to trade forex on MT4
1. Download & setup:
Download MT4 on your desktop or mobile device, or use WebTrader for online use.
2. Register for an account:
Sign up with a CFD broker and use their client dashboard to activate your account. Create an MT4 account and use your login information to access it.
3. Explore the interface by getting acquainted with the following key areas:
- Chart Window: Examine and assess market trends.
- Navigator: Get access to accounts, indicators, and tools.
- Market Watch: Verify instrument prices in real time.
4. Personalise charts:
Use technical indicators, modify timeframes, or create market analysis tools. You can always add, edit, or remove objects.
5. Place trades:
To choose an instrument, establish the trade volume, and determine the stop-loss and take-profit levels, use the Order Window (Ctrl+T or F9). To execute transactions at particular price points, select Pending Orders or Instant Execution for orders that are executed immediately.
6. Track & control trades:
To see available positions, use the Terminal Window. When required, modify stops and limits and terminate positions.
7. Tools & Automation:
Use Expert Advisors (EAs) or custom scripts to increase efficiency and automate tactics.
8. View history & set alerts:
Using the Terminal window’s Alerts Tab, create price alerts. Examine past transactions in the Account History Tab and obtain comprehensive reports to monitor performance.
There are thousands of MT4 indicators and add-ons to choose from. Technical analysis tools called indicators are intended to help you in making well-informed trading decisions.
On the other hand, add-ons are made to assist you in tailoring the MT4 platform to your unique trading objectives and style. Programs like Expert Advisors are available in addition to the indicators and add-ons found in MetaTrader 4.
With its user-friendly interface and robust trading tools, MT4 is a great option for both novice and seasoned traders.
MT4 Trading with T4Trade
T4Trade is a global online trading broker that provides access to a wide range of financial instruments, including forex, metals, stocks, commodities, indices and futures.
It offers a client-focused experience with advanced market tools, multilingual customer support, and educational resources tailored to meet the needs of individuals at all levels.
Central to its offering is the MT4 platform, renowned for its user-friendly interface, powerful charting capabilities and support for automated trading strategies through EAS.
T4Trade ensures seamless integrations with MT4, enabling traders to access flexible trading conditions and advanced tools to refine their strategies.
Disclaimer: This material is for general informational and educational purposes only and should not be considered investment advice or an investment recommendation. T4Trade is not responsible for any data provided by third parties referenced or hyperlinked in this communication.
