Newbie traders might find the Forex market too confusing and overwhelming. Can I really earn? How much should I risk? Is a Forex broker needed? Do I need to use a signal provider? What are the things that need to be looked at? What are the currency pairs that I can trade? All of these questions and so much more are the ones that new traders have in mind.
In trading, you will have to make a lot of decisions. There are some that are hard to figure out. But when it comes to choosing the best trading platform, it is something that new traders should neglect. Although there are a lot of trading platforms nowadays, the decision as to the one you can use must never be taken lightly. It should also be placed as the main considerations when you choose a Forex broker.
There may be a lot of trading platforms nowadays but MetaTrader 4 (MT4) is such a famous one especially among Forex traders. Why is that so? Let’s check on the top 10 advantages of MT4.
One thing that most traders like about MT4 is its user-friendly interface. This has enabled experienced and new traders to get through with this complex market with so much ease. No matter what level of experience you have, you will find this platform so easy to use and navigate. Additionally, you can download the trading app on your mobile phone and trade wherever you are ever when you are away from your computer at home.
No matter where you are from, MT4 supports your native language. Users from all over the world can benefit from this advantage.
The MT4 trading platform allows traders to have full customization of its features. This will let the traders tailor the trading platform according to their needs. The customization of this platform includes creating your very own Expert Advisors and technical indicators through its advanced programming language.
This trading platform is created to support all kinds of currency pairs and even trade on other markets besides Forex like equities, commodities, and futures.
The MT4 trading platform boasts its advanced charting capabilities which enable trading and analysis of the market’s technical aspects. You can even change the style and color of your charts based on your personal preference.
Another popular and yet another special feature of MT4 is the Expert Advisors. This feature lets traders automate their trades using a customized EA to better suit their needs.
Dealing with sensitive issues? You won’t have to worry about all those things in MT4. This trading platform actually has a very high level of security that allows encryption of data.
Users of this platform are allowed to view their account information directly from the platform. They can easily access their account balance, password information, trading history, and access details.
Broker and trader communication is very important. On MetaTrader 4, there is an advanced communication tool where brokers and traders use to communicate with each other in real-time.
MT4 has low resources that prevent all sorts of disruption to your PC.