With all of the features and tools MT4 provides, traders can build and develop their own trading strategies and build complex algorithms, they can share these, or even sell them, another reason MT4 is so popular. These addons are cross-compatible with MT5, but MT5 doesn’t offer a great deal different, so many traders have decided to stick with what they know, which has kept MT4 as the popular choice. There’s the ability to add trading signals and more, all specifically built for MT4. There are a large number of addons, customisations and Trading Robots, know on MT4 as “Expert Advisors” ( EAs). It’s been around since the very beginning of retail trading, and for that reason, it has a huge following. If you want an easy-to-use platform that makes it simple to find, copy, and place trades made by the world’s leading finance traders, ZuluTrade is well worth a look.Traders love MT4. There are numerous other intricate differences between these platforms but, in general, if you aren’t focused on forex trading, MT5 will be a better option.Īnother good alternative to MetaTrader 4 is ZuluTrade. MT4 is tailored to forex traders while MetaTrader 5 was created with CFD, futures, and stock traders in mind. The closest competitor to MetaTrader 4 is the latest trading system released by MetaQuotes, MetaTrader 5. The only downside of the program worth mentioning is that its execution speed isn’t as fast we’d like, making MT4 a poor choice for high-frequency traders. This platform doesn’t just have the best analytical tools on the market, it also works with thousands of brokers and offers great tools for first-time traders, such as demo accounts and copy trading. If you’re after a forex trading app to help you to grow as a trader, look no further than MT4. It’s worth taking your time to get familiar with the MT4 support site before trading (Image credit: MetaQuotes) MetaTrader 4: Final verdict It’s even possible to set up custom audio alert trading signals to inform you when it's time to copy a deal. Thanks to an unlimited number of charts, you can create an interface that fits with your precise trading preferences.
Because Expert Advisors are designed by third parties, their quality and cost vary, but used correctly they can have a massive impact on your portfolio.Īnother important aspect of the MT4 platform is its insane level of customizability. These are proprietary programs created in the MQL4 language that can help you to automate trading. Beyond this, you’ll find plenty of niche and interesting features that help MT4 to stand out from the crowd.Įxpert Advisors are one example of that. Like many of the best forex trading apps, MetaTrader 4 allows you to perform trades through instant execution, by request, or according to market triggers.
META TRADER 4 PLUS
Meanwhile, IG Group, the UK’s largest forex broker, has a MetaTrader 4 live account with minimum spreads of 0.6 plus support for 27 commodity markets. Its MT4 Micro account offers floating trades from 0.4 pips, no commission, and access to 28 currency pairs. OctaFX is one of the best-established MT4-compatible partners. To give you an idea of how a live MT4 account might look, let’s consider a couple of examples. MetaTrader 4 account characteristics are set by individual brokers (Image credit: MetaQuote)
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