The Metatrader 4 platform is the most recognizable trading platform in the world. Millions of traders utilize this platform from their charting and placing trades alike.
There are a lot of advantages of using the Metatrader 4 platform compared to other platforms in the market. The platform can be said to be a developer’s platform and thus it can be enhanced to the liking of the trader using it.
Metatrader 4 (Review)
Metatrader 4 platform was first introduced into the market in 2005 but the MetaQuotes Software Corporation that develops the Metatrader 4 platform was established on 27th November, 2000.
After the company had launched it set its sights on introducing revolutionary trading software that set the basis for developing the Metatrader 4. 2000 saw the introduction of the first MetaQuotes trading software, and as expected it was called Metaquotes.
Jumping forward to 2003 when they introduced their first mobile trading software and in 2004 they launched their website to enable their clients’ access to more services.
After releasing Metatrader 4, they realized a spike in users, and they also found a trend of traders who had several accounts and had to manage them differently.
They created the multi-terminal platform for traders who were managing more than one account at a time. This gave the different platform users ability to place a particular trade on more than one account at a go and still manage it effectively.
The advancements in technology saw them release their most popular platform yet, the Metatrader 5 that has received international acceptance and has also been into major exchanges in the world as a reliable trading platform that can keep up with the trading advancements made.
Every year sees another improvement in their platforms and services alike, they have won numerous awards especially in their quest for improving automated trading by making their platforms fit for any auto trading advancements in the world.
The Metatrader 4 Platform
The Metatrader 4 platform is still the most popular trading platform in the world; the reason is that most brokers from around the world have integrated it into their list of trading platforms.
Even brokers who have created their own proprietary trading platforms also offer the MetaTrader platform as a choice for traders who want have a prior experience using it.
The Metatrader platform comes with numerous features and without a proper guidance on how to use it, it may seem like an impediment to your growth as a trader, but with knowledge, it will be the best platform for all your trading activities.
Metatrader 4: Tutorial and Features
The following are some of the features found on a Metatrader 4 platform; all these features perform different functions, but they can be used together to give you that edge you need as a trader in order to perform at your best.
The navigator window which contains your account details, your list of indicators, expert advisors, and scripts. There is the market watch window, where all your tradable assets are held.
These two windows are always on the left side of the platform stacked one above the other, but they can be removed to have a wider view of the chart window which covers most of the platform’s interface.
There is the terminal window that contains a lot of information; it contains the trade tab that shows all your open trades, it has the exposure tab which shows how much risk you have to any particular open trade.
The account history tab contains all your trading activities, which include all your closed trades and how your account stands at that particular moment.
It also has the news tab, alerts tab, mailbox tab, and the market tab and four more tabs. The top section of the platform interface has more tools that are the sole reason why Metatrader 4 is considered to be the best trading platform in the world.
It has the indicator tab; this contains all the technical indicators that are essential for the trader who wants to do analysis on a particular asset. The indicators in the platform are well versed in that there is an indicator for every function.
The new order tab has all the functionalities required for putting on a trade, the types of trades are extensive too, and it has a limit and stops orders and market orders. It also has a multi-screen functionality that allows the trader to view different charts concurrently without having to toggle from chart to chart. It has a templates functionality that traders can use to save different chart setups they come up with.
This helps a lot especially if you have a particular set of indicators you use to do your analysis, instead of applying them every time you need them, you simply save them as a template, and you can apply them every time you need them.
Metatrader 4 has numerous charting tools; this function makes it a very interesting platform to use. It has the Fibonacci retracement tool, an equidistant channel tool; it has the horizontal, vertical and trend line drawing tools alike. All these tools can be applied to the chart quite easily.
The trader selects the tool of choice and uses the mouse to apply it on the chart by holding the left mouse button from one point on the chart to the desired final point.
The left mouse button is the most utilized when using the charting tools, their tools are either dragged and applied on the chart or drawn on the chart depending on which tool you have chosen.
At times applying the tools may be hard because of the tiny candlesticks, bars, or line charts being used, there is a way correct this by simply using the zoom in and out feature at the top of the interface denoted by a spy glass. Traders can chart on different time frames, as high as the one month chart to as low as the one minute chart.
Metatrader 4 platform is the best platform for more reasons than its features; it can be integrated with websites and other tools to better its performance. That is why they have been at the helm of trading platform success for more than ten years.