Due to its operability and a full functional MetaTrader from MetaQuotes company is the most popular trading terminal among forex brokers and traders.
The terminal has gained its current popularity with the fourth version of MetaTrader, which is called Metatrader 4. This platform has been the most popular trading platform among forex brokers for several years.
The platform is so popular due to range of fundamental advantages over analogous products.
First of all, the price of MetaTrader for a broker played an important role in its spreading. Price policy of MetaQuotes company makes this product extremely attractive for brokers. Also this software is not very demanding to a technique of the server and internet connectivity. Hence brokers got the opportunity to offer a trading terminal to their clients for free, footing the small bill. But in spite of low prices for a broker, MetaTrader 4 has a wide functional, that allows trader to solve their everyday tasks.
Secondly, a considerable advantage of MetaTrader terminal is its user-friendly interface that will be clear for any Windows user and an intuitive management. Therefore it will be very easy for any computer user to learn the basic trading operations on this trading terminal in just a day.
Thirdly, the functional of MetaTrader 4 trading terminal is not limited to basic functions and can satisfy even exigent traders. In short MetaTrader 4 functional may be described with the help of the following blocks:
1. Account and exposed positions management (opening/closing/modification of orders).
2. Graphs (three types: linear, bar graph and candlestick graph) and a possibility of putting graphical analysis (support/resistance line, trendline, Fibonacci level and others) right on the graph of instruments. It is worth noting that a quantity of open graphs (windows) can exceed trader’s physical abilities to analyze them.
3. The instruments of technical analysis. MetaTrader has built-in standard technical indicators and instruments for technical analysis, which allow conducting an analysis directly on the trading field. MetaTrader permits to change easily characteristic of indicator convenient for your trading week.
4. Forex news. There is a built-in newsfeed in the terminal which reports the main economic events that influence currency behavior. The events appear in real time, so the trader will always be up-to-date and will be able to change his trading positions quickly, according to fundamental signals received.
5. Automatic trade. In MetaTrader a trader may easily set his own indicator or adviser, differing from standard, and allow an automatic trade to the adviser. One should remember that an adviser is installed in terminal on trader’s computer, and for the adviser to work nonstop it is necessary that a terminal is constantly connected to the server of a broker company.
6. Programming. All indicators and advisers in MetaTrader 4 are written in a simple programming language MQL4. Also the terminal has built-in programming environment and compiler. Thus a trader can create his own indicators and trading advisers right in terminal, that makes Metatrader virtually unlimited forex terminal in terms of analytics.
7. Strategy testing. Along with the possibility of adviser creation on automatic trading strategy, MetaTrader has a built-in tester of automatic trading strategies realized in the form of trading advisers. Testing is performed on the basis of rate history and allows a trader to determine the effectiveness and productivity of the developed strategy. In addition there is an opportunity to perform the optimization of a trading strategy based on variable data in order to achieve a maximum effect.
Fourthly, currently Metatrader 4 has a mobile version for operating systems Windows Mobile, iOS and Android, allowing a trader to constantly be in the market and to control his deals. Naturally, mobile versions do not have full functional, thus they are not full substitutes for a standard desktop version, but they allow performing all trading operations and give a trader more mobility.
Thereby, the optimal solution for forex market is MetaTrader, due to its simplicity, functionality, security and comfort. One can download MetaTrader from his broker’s webpage or directly from developer’s site. But in case of downloading from developer’s site you will be obliged to write in authorization window IP-address of your broker’s server (in terminals downloaded from broker’s webpage the data is preinstalled, for increased user comfort).
Currently there is an active testing of a new platform- MetaTrader 5, that has a range of substantial differences in terms of trading mechanism (stowage of a position in separate instruments in a single cumulative) and development of a functional (possibility of adding the instruments of optional trading). Right now MetaTrader 5 undergoes testing and rework, but it will soon become the main terminal for forex trade, just like MetaTrader 4 did once.Social button for Joomla