Meta Trader 4 Review
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Meta Trader 4 is a top trading platform that gives traders access to a diverse range of global markets. There are currently two versions of the software, the Meta Trader 4 and the Meta Trader 5. Meta trader 4 gives traders access to the global financial market, including trading in the CFD markets, futures, and Forex. In addition to that, the website provides access to other services such as trading signals, indicators, and a repertory of apps & freelancing services. The software is licensed to foreign exchange brokers who then provide access to traders. In other words, Meta Trader operates on a B2B model.
Both Meta Trader 4 and Meta Trader 5 come with two components: a server component and a client component. The forex brokers run the server component, and the client component is providers to the broker’s customers. The client component allows traders to access pricing and charts, place orders and manage all aspects of their accounts.
About the Developer – MetaQuotes
Meta trader 4 was established by MetaQuotes, a company that is considered both bedrock and a pacesetter in the exchanges & brokerages industry. The company has many outlets in different jurisdictions spread across the world.
Immediately after getting into business in the year 2000, the company released its first software solution: FX Charts. This intuitive software allowed users to analyze different currency pair quotes in the market and make trades. FX Charts earned the company a top spot in the market as it was much cheaper and more functional compared to most of its competitors.
The success of the first app propelled the company’s software development efforts to even greater heights. Over the years, they have continued to release much more superior apps including Meta Trader CE (2003), Meta Trader for Palm (2003), and the current versions, the Meta Trader 4 (2005), and the Meta Trader 5 (2010).
Meta Trader 4
The release of the Meta Trader 4 in 2005 marked a new dawn for the company. This unique app integrates a diverse set of testing, optimization, & development automated tools. Its functionalities include analyzing financial assets, completing advanced trades, running trading advisors/robots, and replicating the trading moves of other top traders on the platform.
Meta Trader 5
While MT4 was created for typical forex trading entirely, MT5 allows access to futures, CFDs, and Stocks. It is marketed by the developer as much speedier, intuitive, functional, and convenient than any of the previous apps. But is it? Let’s find out below.
The Difference between Meta Trader 4 and Meta Trader 5
Contrary to popular belief, there isn’t much that separates these two. The only features you will probably benefit from by choosing Meta Trader 5 are the more advanced analysis charts and tools. Other than that, each of these apps uses a unique programming language.
While MT4 uses MQL4, MT5 uses MQL5. While determining whether to use Meta Trader 4 or Meta Trader 5, traders should consider the markets availed by their broker as this may vary from one broker to another.
Special Features of Meta Trader 4
Here is a complete discussion of Meta Trader’s special features:
Different Trade Execution Modes
Meta Trader 4 features different trade execution modes such as instant execution, 2-market, 2-stop, 4-pending, as well as trailing to postpone a trade move. All these modes integrate with the tick chart to put the trader at a much better position when it comes to determining the appropriate entry & exit points.
The Expert Advisor Builder Program
The Meta Trader 4 advisor builder program gives you all the tools you need to build & test high-frequency trading software. You can use either MQL4 (for MT4) or MQL5 (for MT5). Once you have arranged your EA, you can upload them to your chart to overlook any number of functions. Traders could also monetize their creation by listing it in the market.
Trading Robots/ Duplicate Trades/ Trade Signals
One of the most intriguing features of the Meta Trader 4 platform is the algorithmic trading tool which allows you to use a financial trading robot. You just have to select your provider & a signal and your client terminal will automatically replicate the trade moves. With the auto-trading feature, you do not have to even lift a finger. You just have to sit back and watch the profits roll in.
Manage multiple accounts
The Meta Trader 4 Multi Terminal allows users to manage multiple trading accounts from one master account. Doing this on the client terminals is pretty straightforward, plus there is a step-by-step guide on how to do it on the official website.
Detailed Technical Analysis Tools
Meta Trader 4 provides probably the largest collection of technical analysis tools you can come across out there. With the help of 50+ inbuilt graphic objects, 80 technical indicators, and over 100 charts, each financial set can is displayed in up to 21 different time-frames.
Fundamental Analysis Tools
An up-to-date economic calendar and a financial news section are provided to help you foresee the dynamics of all the financial products.
The Team Wox Business Management System
This is an analog software solution, also created by Meta Quotes, that helps you optimize the success of your company, ensure transparency in business operations, and make the decision making process faster. It provides efficient business automation tools such as E document management, a unified client base, service desk optimization, sales funnel, and a free IP telephony tool. It can be found on the official website alongside the trading platforms.
Traders are also offered the option to suggest a currency pair of their liking.
Once you download your preferred Meta Trader 4 app, you get full access to the built-in market. This is often the right place to find a new technical indicator or advisor. You options are unlimited as there are over 1500 trading robots and 2000 technical indicators.
Immediately you launch the app, you will find a long list of buttons such as M1, M5, M15, H1, D1, W1, and MN. All these symbols represent the different time frames that you can choose. You will also find a magnifier which you can use to enlarge the charts, image labels, a price channel, Fibonacci retracement, trendline, as well as a vertical and a horizontal line.
To other words your trading, right-click anywhere on the chart window to see the options that you have. You can select a trading position by hovering your mouse over “trading” or just click the “new order” button. Activate “one-click trading” and the buy & sell buttons will be instantly added to the top left side of the chart.
Trading on the go with the Meta Trader 4 is beyond easy. There are both iOS & Android apps for recent trading platforms.
The platform’s popularity makes it easy to get support in case you encounter problems with your Meta Trader 4 software. You can turn to your broker via chat or telephone or popular trading communities. You can also always contact the Meta Trader 4 customer support team if you encounter an issue.
The Meta Trader 4 Platform utilizes high-security measures to protect the information stored on the site. Information transmission from the servers to the client’s portal is highly encrypted which means that a trader’s data is private. Besides that, the platform uses RSA digital signatures to distinguish between public and private keys. Users can, therefore, rest assured that the purchases they make on the Meta Trader platform are safe & and secure.
How to get started with Meta Trader 4
Meta Trader 4 software is licensed to forex brokers, who then extend the trading services to their clients. Meta Trader 4 Software can be downloaded for free directly on the official website. You can also download the apps from any licensed broker.
On top of easy-to-install, highly functional apps, Meta Trader 4 provides a good number of trading tools that the counterparts lack. The automated trading features are also convenient especially for beginners, not to mention that developers who are set on complex & advanced trading strategies are fully catered to. We highly recommend this platform.
Is this your final decision?
We suggest you visit one of the most popular trading platforms instead!
- Easy-to-use – The Meta Trader 4 apps come with a very user-friendly interface.
- Customizability – Customizable charting tools give users access to an extensive collection of 3rd party add-ons.
- Different language support – The official site supports 4 different languages. The Trading apps come with over 30 different languages.
- Compatibility- Meta Trader 4 apps are available across hundreds of brokers, with the native versions of the apps available for download across all desktop operating systems and mobile platforms.
- Speed- All the apps are light enough to enable fast executions. This is extremely useful, especially in highly volatile markets.
- Simultaneous live screening of trading charts
- Supports the development of own strategies and robots
- Compatible with virtually all reputable forex brokers
- It is not possible to trade on the official website.
- Some of the features such as the different execution modes can be difficult to comprehend and execute, especially for novice internet users.
7 Binary Options review: Meta Trader: 5 stars