MetaTrader is a very common trading platform amongst forex traders because it facilitates the exchange of various assets. In addition, it’s a vibrant platform that enables traders to conduct a massive scope of forex-related activities.
Some of the actions that MetaTrader enables traders to execute include technical analysis, automating trades, charting, and monitoring markets. MetaTrader is widely available in two variants: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
MetaTrader 4, released in 2005, usually is extended to registered brokers who then offer the platform to their clients. MT4 has both a server and client component. The agency oversees the server component, and their customers run the client component.
The clients use MT4 to manage their accounts and live stream bills. MT4 is available as an application on Windows, and via the app, clients can get to know how to close trades in MT4, place orders, among other things. First, let’s look at the features and components of MT4.
The Features of MT4 Trading Platform Include:
MT4 trading platform has very many analytical tools. For instance, all characters are shown in 9 time-frames enabling traders to see price changes in detail. In addition, the platform has 24 graphical tools and 30 inbuilt technical pointers to help with analyzing price changes.
With the MT4 trading platform’s capabilities, you can meticulously evaluate market movements and pinpoint the most appropriate time to place a trade.
MT4 trading platform is built with a commercial feature where traders can buy and trade their technical indicators and their capable guides, all for a reasonable price. In addition, technical pointers allow traders to execute the trades of other traders without studying the market.
These technical indicators are analyzed for over a month before being uploaded to the MT4 commercial center to detect any scams. In addition, in the MT4 platform, customer reviews from various clients and historical performance of technical indicators are publicized.
MT4 trading platform incorporates the best security features. For instance, the exchange of figures between the server and client module is encoded. The platform also includes the RSA digital signatures. A digital sign is unique, which means all your accounts are well protected.
MT4 trading platform also has a superb set of cutting-edge analytical features. In addition, the platform has a user-friendly interface to help even the least experienced traders understand all the functions and working codes. In just a few minutes, you can set up and begin using MT4.
Although the diagramming features of the MT4 trading platform have been criticized for not being as unrestricted as other dedicated trading platforms. However, you will notice that MT4 incorporates a pivotal range of other cutting-edge trading features.
MT4 provides you with all you need to study price movements and conceptualize your trading strategies. Also, the strategic reproduction tool can be used to backtest markers with historical performance and assert their precision and dependability.
If you’re probing for a trading platform that won’t interfere with whatever else you got going on, MT4 the ideal platform for you. The platform is very intuitive, and you won’t have any issues figuring out all the functions.
It has a Market Watch window that can be used to track the speeds of all your best assets and launch their positions in just one click. Still, you need to manually change the positions to boost your profit and stop-loss levels.
Components of MT4 trading platform include:
MT 4 Server Component
The domain of the entire platform is the server component. It’s designed to handle all client actions done to place trades and stop orders. The component also conveys price statements and news, maintains accounts and folders, among other things.
The server component is basically the administrator of the whole platform, but it doesn’t have a different interface to the client component.
MT4 Client Component
The client component is offered free of charge by broker firms to enable the client to trade online and even set up demo accounts. This gradually decreases the cost of trading activities, research, and diagrams.
Similar to a programming language, the component allows clients to program trading markers, pointers, and strategies. This component has several markers, and each one can be further modified to suit a trader’s needs.
MT 4 Admin
This is meant to handle server settings and configurations remotely.
MT 4 Mobile Component
This handles client accounts via smartphones that run on Android or iOS or computers which run on Windows OS only.
MT4 Data Center
This is a dedicated transitional server that can be situated between the client and server components. It cuts the price quotes by sending many requests to the central server.
To sum it all up, the MT4 trading platform is one of the most reliable and flexible trading tools you can find today. In addition, this platform is also known for user-friendliness and many more exciting features, as illustrated above.