The following is a list of advantages offered by the Forex MetaTrader4 platform:
1. User Experience: Extremely user-friendly interface, enabling new and experienced traders to trade this complex and volatile market with ease and comfort. Traders of all levels find this Forex platform easy to use. Mobile trading applications offer you access to your MetaTrader4 platform wherever you might be. You can download the MT4 platform for your home computer, tablet and phone.
2. Language: Users around the globe can benefit from the MT4 platform and all its data, in their own native language. A very wide range of languages are available.
3. Charts: In addition to the MT4's advanced and user friendly trading features, the platform also offers advanced charting capabilities. This advanced charting enables traders to trade and analyze the technical aspects of the market simultaneously. You can change the colors and styles of the charts and even load preset templates to reflect your personal preferences. This makes the charts easier to read and since you can remove functions that do not interest you, the focus will be on your personal priorities.
4. Expert Advisors: This is a very popular and important feature in the MT4 feature portfolio. Expert Advisors enable traders to automate their trades with a customized EA that best fits their needs. This MetaTrader4 platform’s success and popularity are based largely on its algorithmic trading.
5. Communication: The MT4 platform also incorporates advanced communication tools for brokers to post messages and communicate with their traders in real time. This of course prevents the need for long and complicated email threads and makes the trader's experience that much simpler. MT5 allows for attachments to these emails as well.
6. Low Resources: Unlike many other platforms, the MT4 platform is relatively low on resources, meaning it keeps its disruption of your PC to a minimum. This also enables the platform to react faster, making it possible to implement the trades and traders' requests immediately.
7. Profiles: Users can also view account information from within the actual platform interface. Some of the details available include account balance, trading history, access details, as well as password information. You can arrange the windows and charts for each profile in a way that is easy for you to follow. Each market can also be set up as its own profile so that you can quickly switch between them.
8. Security: When you are dealing with a sensitive and private issue like Forex trading, you are going to want to know that you are not in danger of attacks and hacks on your account. MT4 is a highly secure platform that encrypts the data between trader and server with a 129-bit key. The trader's IP address is also completely concealed.
9. Flexibility: The MT4 platform was engineered to support all currency crosses as well as the ability to trade other markets such as commodities, futures, and equities.
10. Customization: As if all the above was not enough, the MT4 platform supports full customization features, so the trader can tailor the platform to meet their trading needs and practices. This includes the ability to develop your own Expert Advisors as well as technical indicators using the MT4's advanced proprietary MQL programming language. The codes written for MT4 are not compatible with MT5 which is a factor when choosing to switch from one platform to the other. This has become a significant concern for those who have spent time and resources coding custom indicators into MT4.
Like we said, the MT4 platform has become a market standard and there is a good reason for that. It is the most advanced and trustworthy Forex trading platform available on the market, and even with its complex and advanced features, the user interface is friendly and intuitive, making it an attractive option for new and experienced Forex traders alike. MT4 is the most popular Meta Trading platform in the world which on its own is a testimony to its benefits.