Key Features and Benefits of Trading with MetaTrader 4 (MT4)
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MetaTrader 4 is a trading platform packed with outstanding features and tools. Also, MT4 puts the priority on developing more tools to meet users’ demands over the years. This article shares some of the exceptional features that make MT4 a popular platform with traders.
Regardless of the trading strategy, Slippage is of paramount interest to every trader, from scalpers to longer-term traders) because it affects your trading results. With MT4’s fast execution speed, you can rest assured about this.
2. Orders and Charting
The MT4 platform offers two market orders, four different types of pending orders (buy stop, buy limit, sell limit and sell stop), two stop orders, and trailing stop.
Real-time charts are also available on MT4 with nine different timeframes (from 1 minute up to 1 month)
In addition, traders have the freedom to trade the wide range of financial instruments offered on MT4, including currency pairs (forex market) and CFDs.
3. One-Click Trading
MT4 is equipped with a One-Click-Trading function which simplifies the trading process and significantly reduces the time of trading operations. This feature is especially ideal for traders.
For traders, especially scalpers, trade execution speed plays an important role. Therefore, One-Click Trading is a perfect choice.
4. Price Alerts
MT4 also supports an alert function, notifying users of sharp price movements in the financial markets. Press CTRL + T and click on the Alert tab to enable this feature. Furthermore, traders can access email alerts by clicking Options > Tools > Email.
5. Technical Analysis Tools
MT4 offers 30 built-in technical indicators and 24 drawing tools divided into various categories to meet every trader’s needs (such as trend indicators, oscillators, and volume indicators) helps you determine the market trend, support resistance areas, or reversal points.
Hence, they determine the entry points and stop loss, take profit, and exit orders more accurately and effectively.
In addition, MT4 allows users to use custom indicators developed in the MT4 community. Anyone can build their own technical indicators. This creates the richness of technical analysis tools on MT4, giving the MT4 user community a massive arsenal of tools to earn money in the financial market.
6. MQL5 Trading Signals
MQL5 (MetaQuotes Language 5) is a computer programming language that allows traders to set up automated MQL5 trading strategies, MQL5 signals, MQL5 indicators such as stop-loss, and many other indicators and trading strategies.
If most forex traders have to analyze and trade manually, trading signals provided by others help you do such things.
Therefore, trading signals are a better solution for any trader who has little time, knowledge, and confidence to enter the market.
7. EA – Trading Robot
In manual trading, a trader typically establishes trading rules and then follows those rules each time they enter or exit an order.
As such, a manual trader must always sit in front of a computer monitor watching charts and wait for the right moment with their rules to make a decision. All that work is very complicated and tiring.
The trading rules or strategies are already installed in the computer program with a trading robot, and your trading decisions are made automatically without the trader’s intervention.
Traders are free to create their own EAs and indicators. If your EA or indicator works well, you can also advertise on the MetaTrader marketplace and earn money from people using your robot.
8. MT4 Copy (Copy Trading)
Don’t have enough time to trade all day? No problem, MetaTrader 4 has trading features that allow you to copy other traders’ trades automatically.
You have to choose a provider and then subscribe to that provider’s strategy or trading signals on the platform.
Thousands of traders have made significant profits from this strategy. This is a top-rated service for traders looking to expand their trading volume or take a more “tight” approach.
In brief, MetaTrader 4 is a reputable software, providing many outstanding features, bringing significant benefits to traders, providing a complete trading experience.
MT4 has so far been popular with a large number of long-time users. This is the clearest demonstration of an all-powerful platform with countless useful utilities.
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