Meta Trader 4 (MT4)

The Meta Trader 4 (MT4) trading platform has become the most popular online FX trading platform. Most of the better FX operators are compatible with MT4.

The Forex trading platform is most often used for automatic trading using Expert Trading Systems (EA). Most of the operators that are compatible with MT4 offer significantly lower spreads for those users who choose to trade via this platform in recognition that these users are generally high volume customers.

The MT4 trading platform also specialises in mobile phone trading. The mobile version is compatible with all newer generation phones including blackberry and iphone.

So what’s so good about MT4?

For a start the MT4 platform is totally free to download and use. The MT4 Platform is also supported by a huge community that post their questions regularly on the forum. Setting up a demo account can be done in less than 5 minutes.

The first thing to notice is that MT4 is probably the best platform for showing charts. In the default view, you see 4 pairs in real time, but you can easily flick through different currency pairs. Charts can be viewed in minute, 5 minute, 15 minute, 30 minute, 1 hour, 4 hour, 1 day, 1 week or 1 month time intervals.

Another one of the neat aspects of the MT4 platform is that volume is recorded and displayed just like regular stocks. Capturing Volume is only a recent thing in FX trading.

If it’s indictors you are interested in, MT4 has you covered. There are about 25 default indicators that are default. However, there are libraries that contain over 450 more.  If your still not satisfied then you can create your own.

However it is automated trading that has made MT4 so popular. MetaQuotes Language 4 (MQL 4) is the language for programming of to write custom code to automatically execute trades. You can use existing indicators or your own custom ones. Most Expert Advisor trading systems sold are built based on the MT4 platform.