Meta Trader 4 (MT4)
The Meta Trader 4 (MT4) is the most popular platform used in the forex industry. A vast majority of brokers in the forex market offer this platform to traders all over the world as it helps them trade efficiently.
Because of the simple and amazing nature of the MT4 platform, it is extremely popular amongst forex market traders. It has a user-friendly interface which can be used by even the most novice of users.
Among its numerous features, MT4 comes with an outstanding built-in charting package, which gives users the choice of choosing between bar, line and candlestick charts, nine-time frames, Fibonacci retracements, 30 built-in technical indicators, support and resistance levels, trend lines, and many more tools which any trader needs to use in technically analyzing his/her trades. The integrated live news feed also helps facilitate fundamental analysis.
Traders familiar and good at coding can use the MQL programming language to create automated their own trading strategies, custom indicators and scripts. Traders who are not handy with code can download ready-made Expert Advisors (EAs), custom indicators and scripts from the extensive library provided by the platform either for free or for a fee. Also, the MT4 also gives traders the option to check how well a strategy works before implementing it under real market conditions.
MT4 was recently upgraded so as to incorporate signal copying and one-click trading – two most recent major trends in the forex industry.
MT4 can be used via desktop/PC or Android or IOS mobile applications.