Meta Trader4 is the most demanded and widely used trading platform by the investors in the forex market. Traders are fascinated by lots of its functionalities which range from its user friendly terminal to EAs and algorithmic trading.
MT4 is wrapped up with number amazing features, and here’s a quick look at those:
- One Click Trade: The traders look forward for the fast execution of their trades in day trading, so just a click can help them placing their orders promptly. The brokers using MT4 should make it sure that the technology is such that no latency is there and trades get executed with good speeds and liquidity.
- Technical Indicators: MT4 provides more than 50 technical studies, which can be applied on any forex instrument. Along with the traders are enabke by MT4 to watch out their positions on the basis of prices and market timing.
- Expert Advisors: The forex brokers using MT4 as a trading terminal can provide the traders’ access to MT4’s basket of EAs. These EAs can be used and copied by other traders and thus, is a kind of social trading. When you are picking one of such EAs, you are simply copying their trades and setting your account based on theirs. Besides this, various risk management tools are provided where you can put a limit to your liability or losses.
- Charting capabilities: MT4 platform is designed in a way which allows you to trade with multiple charts simultaneously. A multi-chart screen is useful to the intra-day trader who can easily monitor his position in real time.
Along with these major capabilities, traders sometimes remain unknown to a major feature of MT- Exporting Real-time prices into Excel. A user can simply export the live prices in excel using Dynamic Data Exchange (DDE) protocol. Using this functionality of exporting data, one can use it for conducting research in the forex markets, creating formulas and strategies, drawing charts etc.