MetaTrader 4: Do Professionals Use

Forex trading is a widely popular activity that involves buying and selling currencies in the global forex market, often facilitated through platforms like MetaTrader 4 (MT4).

Although many trading platforms are suitable for both beginner and professional traders, professional traders need advanced platforms to implement complex trading strategies and analyse market data effectively.

MetaTrader 4 stands out as the industry standard and a top choice worldwide, offering lots of powerful features to meet the demands of professional traders.

In this article, we’ll explore the most popular platforms used by professional traders as well as beginners.

Key features of MetaTrader 4

Traders opt for MetaTrader 4 because of its user-friendly design and powerful functionalities. Let’s explore these:

User-friendly interface:

One of the main features of MetaTrader 4 is its intuitive interface. Traders of all levels, from beginners to professional traders, find it simple to use. The platform offers an intuitive design that makes it accessible to a wide range of users.

MetaTrader 4 community:

Since its launch almost 20 years ago, MetaTrader 4 has built a huge, active community with millions of traders who come together online to share ideas, provide valuable insights, and participate in discussions about trading issues.

Trading system:

The MT4 platform supports three execution modes, offering instant execution, market orders, pending orders, stop orders and a trailing stop function.

There are also quick trading functions which allow traders to send trading orders directly from the chart with a single click. The built-in tick chart feature provides a way to accurately determine entry and exit points.

With its feature-rich environment, MT4 allows traders to implement a wide range of trading strategies in the pasaran forex.

Analytical tools:

MT4’s key technical analysis tools include 30 built-in technical indicators and 24 graphic objects. These tools allow traders to analyse market movements and price changes, and determine entry and exit points.

Advanced charting capabilities:

MT4 allows traders to open an unlimited number of customisable charts, where they can place a variety of graphical objects and indicators.

These tools can also be combined across different timeframes for a single symbol. Symbols can be shown in 9 timeframes, ranging from 1 min to monthly periods. This enables traders to analyse quotes in more depth.

Multilingual client terminal:

Wherever you are in the world, MT4’s client terminal is available in a wide range of languages. This minimises the risk of trading errors due to unfamiliar trading terms.

MetaTrader 4 mobile applications:

MT4 offers a range of mobile applications for iOS, Android, macOS, Linux, and Windows, allowing traders to enter and exit positions from anywhere in the world, at any time.

With a stable internet connection, trading is possible across multiple devices. The mobile versions of MetaTrader 4 offer many features of the desktop platform.

These include interactive charts that display real-time quotes, a full range of order types, and popular analytical tools. You can conveniently monitor account status, view trade history, and execute buy and sell orders with just a single click.

MetaTrader 4 Backtesting:

MT4 allows traders to backtest trading strategies on past time periods to assess trade performance. Based on outcomes, traders can then improve trading strategies or implement them in live trades.

Algorithmic Trading

Algorithmic trading, or automated trading, is one of the most robust features of MT4, which allows trading with the help of Expert Advisors (automated trading robots). Most trading strategies can be implemented using EAs, which are developed using the MQL scripting language.

Automated trading has another big advantage. It conducts trades mechanically based on traders’ settings, so it removes the emotional factor from trading which may negatively affect trading decisions.

Automated trading is popular due to the speed and accuracy with which it executes trades. However, while it is effective, it’s important to recognise that automated trading is not without risk. Regardless of your level of experience, having an effective risk management plan in place is important for safeguarding your capital.

Why MT4 is suitable for forex traders

The MT4 trading platform provides traders with all the essential tools they need for successful online trading. Here’s why MT4 is a successful platform:

User friendly and simple

The MT4 platform’s user friendly and simple interface makes it suitable for traders of all levels, from pemula to professionals. In a few clicks, traders can access basic information such as indicators, charts or prices.

Proven reliability

Traders around the world choose the MT4 trading platform for its reliable performance and secure operations. MT4 has been tried and tested by millions of traders over many years and is a dependable choice for traders who know that downtime can be costly for them in terms of their returns.

Functional

You can easily download MT4 on Windows, Android, iPhone, or access it through any web browser. With just a few simple steps, you can log in to your trading account, set the platform up, and manage positions even while on the go using your mobile device.

How to start trading forex with MetaTrader 4

Download and install MT4.
Log in with an existing account or register for a new account.
Choose a forex broker.
Enter your real or demo account login credentials (username and password provided in your welcome email).
Start trading forex.

In summary

MetaTrader 4 is a top choice for both professional traders and beginners.

The user-friendly design of the platform is suitable for beginners, while its advanced features are suited to the needs of professional traders.

MT4’s powerful technical analysis tools and advanced automation capabilities make it the ideal platform for all traders of all experience levels.

Ultimately, deciding if MT4 is the right platform for you depends on your unique trading goals, level of experience and preferences.

Signing up for a demo account to test MT4 allows you to experience firsthand why millions of traders trust this platform.

A demo account offers the best opportunity to explore MetaTrader 4’s features and functionality, giving you a better picture of what to expect on your trading journey. In addition, registering for a demo trading account allows you to test the CFD broker providing access to the platform.

This provides the ideal opportunity to assess their customer support and gain insights into how they can help further develop your trading skills and expertise.

Download MetaTrader 4 and trade forex with IronFX

IronFX is a global forex broker and a leader in MT4 trading. The MetaTrader 4 platform is free to download from IronFX’s official website or directly from the MetaQuotes website.

Dengan IronFX’s MT4 trading platform, traders can implement different strategies and access lots of other features. They can also speculate on the charts while following the trends to find the right trading opportunity.

Clients can trade with flexible leverage and competitive trading conditions, including low spreads. They can also choose from different account types to find the one that best suits their trading preferences.

IronFX also offers access to more than 500 tradable instruments across 6 asset classes including forex, shares, indices, futures, commodities and metals.

To support traders, IronFX Academy provides an extensive range of educational resources to boost their trading knowledge and improve their skills.

The global broker has many online resources, such as courses, webinars, videos, podcasts, eBooks, and more. All of these resources are available on IronFX’s website under Education.

Disclaimer: This information is not considered investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.