MT4 is immensely popular because it is highly customizable to your specific trading preferences. It can also be used to automate your trading by employing algorithms that open and terminate deals on your behalf based on a set of predetermined parameters. Mt5 Platform can be a good option if you are looking to provide access to traders with CFD’s and other stocks.
Offer real-time access to market prices and liquidity
MT4 allows traders to view and trade forex quotes in real-time. The “Market Watch” pane displays the currencies and other assets that a trader chooses to trade through a broker. The real-time bid/ask quote is shown alongside the security symbol. Traders can also view all other parameters from this window, including the spread, contract size, margin currency, and margin percentage.
Offers technical and fundamental tools for better analysis
MT4 provides a wide range of price analysis tools, including a significant variety of in-built technical indicators and charting features. This platform includes over 30 technical indicators, including significant trend and volume tools like as Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), On-Balance-Volume (OBV), Fibonacci Retracements, and more.
Traders can view an unlimited number of charts at once, and each currency pair can be presented in nine different timeframes, ranging from one minute to monthly. The MQL4 community can provide more charts, and many traders create their own indicators.
Traders can analyse price actions of any complexity using in-depth chart analysis, mathematical tools, and sketching objects. Furthermore, these charts can be fully customised to meet the needs of each trader. They can be saved based on various trading profiles.
Allows multiple trading orders for higher flexibility
Traders can build and apply their own trading strategies using several types of trading orders and execution modes. Two types of market orders and four types of pending orders are available in MT4. Furthermore, three different transaction execution mechanisms provide traders with a great deal of freedom.
To be successful in forex trading, risk management measures are essential. To reduce downside risks, MT4 offers two types of stop orders: take profit and trailing stops. When the market swings in the opposite direction of the forecast, a stop-loss order closes the position automatically.
MT4 is widely recognised as a safe and reliable trading platform. A 129-bit key encrypts data exchange between client terminals and servers, and the platform also supports RSA digital signatures. Traders’ IP addresses are also masked. All of these qualities make it possible for traders to conduct financial transactions in a secure atmosphere. They may rest certain that cybercriminals will not obtain access to their trading accounts.
It has automated trading options for experts
Expert traders can use Mt4 Platform Expert Advisors to implement automated trading strategies (EA). Automated trading helps traders to profit from market fluctuations without having to intervene or deal with human bias. Traders can also design their own EAs and technical indicators using the MQL4 IDE (Integrated Development Environment). After developing an EA, the system’s Strategy Tester can be used to backtest and optimise the strategy.