MetaTrader 4 is one of the most popular trading platforms for Forex markets. MetaQuotes Software developed this software, and it offers free download either from its own website, or via the brokers that use it. While some brokers develop their own trading platform, a big part of them prefer to use MT4 or 5 or offer traders the possibility to choose between a self developed product, or the solution offered by MetaQuotes.
The tool comes in several solutions: desktop, mobile, and web-based. While the first two need to download the application, the third one requires you only to connect via internet. Let’s see why MT4 terminal for desktop is so popular among traders and brokers and what are the features that would recommend it.
MT4 Desktop Tools
First of all, the platform offers several tools that allow traders to make price analyses, place orders and manage them, but also to have the support of an automated trading tool. If you want to see how it works, the platform offers a demo account, as well, to help you familiarize yourself with the product. The downloading process is not different from any other application, and the program will walk you through quite easily.
The platform has four trading systems: market & pending orders, instant execution & trading from chart, stop orders & trailing stop, and tick chart & trading history. The MetaTrader 4 terminal for desktop offer analytic functions that help traders examine the prices and act when they fluctuate.
The product accommodates most of the trading strategies, as it offers interactive charts, nine timeframes, 30 indicators and 23 analytic objects. You can also choose to let the program copy deals from other traders, as it provides several paid or free signals. The application also provides a built-in market that offers quite a few trading robots and technical indicators.
The robots may do all the trading for you, and since they are designed to work with this platform, the glitches are quite limited. One thing may be on the difficult side when referring to MetaTrader4 for Windows. While it runs smoothly from the technical point of view, the large number of features may make it difficult for the less experienced traders to make the most of it.
However, the platform offers tutorials that can help traders understand the specifics of this product. The MT4 User Guide is a useful guide to help you discover and understand the features offered by this product. Moreover, being a widespread tool, the MT4 community is rather extended, and it can be a good source of information for the trader who is new at using this product.
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MetaTrader 4 for Desktop Review Conclusion
To conclude our MT4 for desktop review, this is a tool that is compatible with most brokers, the technical aspects of the application are quite strong, as the developers try to keep up to date with the latest technological requirements, and the trading tools are various and can accommodate most of the trading strategies.