Why should you use Meta Trader 4 platform in trading?

Why should you use Meta Trader 4 platform in trading?

MetaTrader platforms such as MT4 and MT5 have many trading capabilities and features that other platforms lack and are easy to download and install. You just have to follow the instrument’s price fluctuations and examine the graphs and charts while plotting the trends to locate your planned trades. The following charts are shown and supported by the platform: Candlestick, Heikin Ashi, and Renko charts.

It is easy to set up your trading orders, and predefined stop losses and goals are executed immediately. Just as easily accessed are the trailing stop loss and pending orders.

(EA’s) can use scripts uploaded to the platform to automate your trading, and the scripts’ instructions are easily carried out. Save you the trouble of being close to your device or missing out on a trading chance.

Availability of Desktop & Mobile Trading Platforms

The capacity to keep up with the times by offering dedicated apps for both desktops and mobile Forex trading is one of the main benefits of the MT4 platform. The mobile app can be downloaded from their respective stores by mobile traders using Android or iOS. In contrast, the desktop app is available from the official MetaQuotes website or a supported broker, such as XM.

Over the years, the desktop platform has been evolving and has most of the features available right off the bat. Whenever new updates are available, the MT4 updates itself; it is, therefore, easy for the trader to enter their login credentials and tackle the markets. The Android and iOS mobile apps are also kept up-to-date with modern smartphone and tablet requirements, which offer both amateur and professional Forex traders an outstanding mobile trading experience.

MT4 Forex Brokers

It is easier to find Forex Brokers on MT4

As MT4 is the most popular Forex trading platform on the planet, finding a Forex broker that supports MT4 is relatively easy. Brokers will have a dedicated page on their website informing potential customers about the various platforms on offer. If the broker does indeed support it, it will list MT4 as an available trading platform. A complete page on all supporting vendors using the MT4 platform is also available on the official MetaQuotes website. If you are looking for a comprehensive list of the industry’s top-performing MT4 Forex brokers, browse through our list below:

MT4 Forex Brokers are regulated

The most diverse list of regulatory organizations from across the globe regulates MT4 Forex brokers. MT4 is accepted by most brokers from the US to Asia, ensuring that MT4 has the most extensive exposure to regulation and geographical diversity. Brokers regulated by organizations such as the NFA, CFTC, FCA, ASIC, CySEC, SEBI, and other EU, Asian, and African regulatory agencies can be easily found.

The ease of obtaining a valid MT4 license without any regulation is a cause for concern among investors. As year after year, the industry experiences a huge number of scams from MT4 brokers. MT4 operates on models of ECN, STP/DMA, and dealing desk (market maker), allowing brokers to choose a brokerage model based on their needs. The downside to freedom of choice without oversight is that a broker can set up shop and disappear overnight without paying their customers back.

Some dealing desk MT4 Forex brokers also use dishonest means by tampering with the platform and deliberately disconnecting the terminal from the server to show incorrect price feeds to engage in fraudulent practices. Such a move will leave traders in the dark, which can be used to leverage a broker to manipulate the trade and the price, ultimately leading to a trader’s losses.

Regulation is a priority when selecting a Forex broker, regardless of the basic trading terminal’s popularity. MT4 may receive excellent recommendations from several established traders and industry brokers, but not every MT4 Forex broker is qualified to become a genuine and reliable business. Always ensure that you do the right research and only select regulated brokers with an authentic and consistent history of outstanding Forex market services.