Understanding MT4 as the most popular forex trading platform
Working on forex market? You definitely need a forex trading platform and a good broker like cmtrading! There are some popular platforms but MT4 is the most popular one. MT4 is the platform that is most commonly used by traders on the forex market. This is not just about people who have a lot of experience with opening and closing positions. The user-friendly platform is also particularly suitable for people who are new to the market. It is easy to find the functions you need to act and enough support is available. MT4 stands for MetaTrader 4 and is made by the Russian MetaQuotes.
Features provided by MT4
Technical analysis, nine different time frames, thirty indicators and 24 graphic objects that can be used directly. It is too much to mention. But technically, the presence of all these features is not the most important thing for you. The most important thing is that the features you want to use are present. In MT4 you will find automatic trades, but also the EA and that is widely used by traders. It is a kind of expert advice that gives you an idea of what positions might be interesting at that moment.
The advanced features
It is possible to use advanced features on the platform and that is why MT4 has become popular among the experts. We strongly recommend trying the MT4 platform, ideally with a demo account so that you can make adjustments yourself and see the easiest way to set up and adjust a trade. You can reset the MT4 platform at any time to undo adjustments. If this does not work, you can remove the platform and reinstall it. Especially when you have only used a demo account.
MT4 is a platform for placing and closing positions. It has now become the international standard and can be used at almost all brokers. The biggest advantage to the software is the limited weight. This means that you can use MT4 together with other software or websites, without the computer getting slow. Since there are also mobile applications, MT4 can also be used on the road. Practical when you have many positions open and want to be able to intervene at any time with a course change.
The real power of the MT4 platform is in the possibilities and user-friendliness. There are other platforms that are more sophisticated but none of them are more user-friendly than MT4. New traders usually need ten minutes to get used to the interface and features on the platform, after which acting can simply take place instinctively. The fact that the MT4 software can be combined with EA, with trading bots and other software, ensures that experienced traders can really work with this. Something made a mistake and does the platform no longer look like it should? Then you can simply reset MT4 and you can get started again. Since MT4 is used by thousands of people around the world, there is enough information; knowledge and support possible to immediately make the adjustments that make it easier for you.
It is possible to link a demo account to MT4, so you can practice first and see if this is the software you want to use. Note that there are several other variants of MT that can also be interesting for traders on the Forex. However, choose a platform that brings you comfort. Everyone has a different opinion and it’s okay. If you feel comfortable with MT4 then choose this platform but if you feel that MT5 is the best one, then choose MT5. As simple as that!