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Trading forex has been made easy thanks to Meta trader. Meta trader is an online trading system that allows you to sell and purchase forex at the click of the button. The platform supports three trade execution modes that include Instant Execution, 2 markets, and 4 pending and 2 stop orders.
Meta Trader also provides technical analysis where the trader can utilize vast analytical opportunities. Forex MetaTrader 4 is secure and convenient.
What Is Meta Trader4?
MT4 is trading software that is commonly used by forex traders as their trading platform. The platform is a connecting channel between currency trading systems and your devices. MetaTrader is the link between your computer or mobile device and the currencies trading in the market.
There are two versions of the MetaTrader Platform. One of the versions is available on desktop, mobile, and web, while the other version is new at AvaTrade. Both versions run multiple platforms without causing a lagging effect on your server or computer. Due to its lightweight, the software does not overload the systems in place.
MetaTrader is ideal when trading in volatile markets for fast trading and immediate executions.
The Features of MetaTrader
The following are the unique features that make MetaTrader 4 lock;
- Easy to download and install
- Has many trading capabilities and features not found in other platforms
- It follows instrument price fluctuations and graphs
- The platform showcases and supports Candlestick and Heikin Ashi graphs and Renko charts
- Setting up MT4 is simple, and targets are executed immediately
- It has scripts that are uploaded to the platform which you can use to automate your trading
- The instructions of the hands are easily carried.
Using MetaTrader4 saves the trouble of being close to your computer. With this platform, you will never miss out on a trading opportunity.
The platforms offer the functionality of convenience where you can view your trade history. From the forum, you can:
- Download your historical trading data per currency pair
- Create or request detailed reports on the positions that you take
- Track past charts and graphs to keep a summary of trends per instrument
How to Use MT4 Forex Trading
To trade forex using the MT4 platform, you follow these simple steps;
- Open a trade in MetaTrader 4 is using the ‘Order’ window.
- Place an instant order on the market.
- Click on the ‘Window’ tab at the top of the MT4 platform to select your chosen currency.
- Select ‘New’ and place your order.
Opportunities for Forex Trading With MetaTrader 4
1. Real-Time Access to Market Prices and Liquidity
MT4 allows traders to access forex quotes in real-time and execute trades. The currencies and securities are listed in the ‘Market Watch’ window, where a trader can choose. You will also view all other details from this window to help you make your decision.
2. Technical and Fundamental Analysis Tools
The MT4 platform has over 30 in-built technical indicators and charting capabilities. Traders can view unlimited charts simultaneously. Each currency pair can be displayed in 9 different frameworks at intervals of one- minute to one- month. You can also get additional maps from the MQL4 community or build your indicators.
3. Automated Trading Option For Experts
The MT4 Expert Advisors (EA) allows expert traders to deploy automated trading strategies. Traders can leverage market movements without any intervention or human bias. Customized EAs help expert traders to create and deploy their systems. The endless technical tools, user-friendly controls, educational resources, and demo-testing abilities make MT4 a popular platform for both beginners and veterans.
4. Security and Stability
MetaTrader 4 is a secure and stable platform. Data exchange from the client terminal servers is encrypted. The IPs of traders are also hidden. The platform also supports RSA digital signatures. These security measures enable traders to transact safely. The accounts are also protected from cybercriminals.
