MetaTrader 4 information and trading platform: reviews

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

For making money in the financial market, traders use innovative platforms. One of the most popular trading platforms is Metatrader 4. Reviews about it are mostly positive. How attractive this platform is, what features and benefits it has, the reader will learn from this article.

Features of the trading platform "Metatrader"

According to reviews, Metatrader 4 is an ideal trading platform for beginners. It is quite simple and understandable. It is also important that "Metatrader" is a free platform. It is used by traders of different skill levels, as well as analysts and experts.

Metatrader is great for predicting market movement and trading. Its main advantages are simplicity, accessibility and a large number of a wide variety of built-in tools.

MT platform versions 4 and 5

By and large, the difference between MT versions is small. According to reviews, Metatrader 4 is much more familiar to traders who have been working on the site for a long time than the fifth version. There iswide variety of tools:

• technical indicators;
• charting and market analysis tools;
• the ability to connect to trading signals;
• timeframe selection;
• the ability to work in several chart windows at once;
• trader can set sound alerts;
• it is possible to connect news access directly to the platform itself and much more.

Traders and analysts can use both built-in tools and download technical indicators, scripts or expert advisors from third-party resources. In addition, on the Forex platform MT4 it is also possible to select the necessary instruments from the library or use the tester to test the trading strategy.

Metatrader 5 version has more features. For example, on Metatrader 4, you can choose timeframes for trading: M1, M5, M15, M30, H1, H4, D, week and month. And on Metatrader 5, the choice of time periods has been significantly expanded, that is, traders have the opportunity to choose the chart M2, M3, M4, M6, M10, M12 and so on.

Among the instruments, it can be noted that only version 5 has a "Depth of Markets" that is used by traders on "esn" accounts. And also on this platform a more expanded catalog and it is possible to open up to 99 windows of the price chart at the same time.

Metatrader Benefits

Metatrader is one of the most popular trading platforms. According to Metatrader reviews (4 and 5) compared to othersplatforms is considered the most simple, understandable and accessible platform for all categories of traders and investors.

And indeed, to install it on your computer, you don't even need to register with any brokerage company, because you can download the program from the official website. Metatrader is a free platform with no time limits. Anyone can try their hand at trading without making a deposit, as you can choose a demo version and trade without any financial risks.

Marketplace Overview

To understand how to use Metatrader 4, you need to familiarize yourself with the functionality of the terminal. After downloading to a computer and installing a trading platform, three zones will be immediately allocated to the user:

1. Working area or quote chart.
2. Navigation.
3. Statistics and additional features.

At the very top:

• "file";
• "look";
• "insert";
• "charts";
• "service";
• "window";
• "help".

These are the main parameters of the platform. The necessary functions will be displayed a little lower in the terminal: selection of technical indicators, timeframes, graphical instruments, opening orders, connecting autotrading, crosshairs, creating a new chart, and more.

If desired, in the "navigation" section, you can set "market overview", and then quotes for alltrading assets. "Navigation" allows you to view data about the trading account and instruments that are installed on the chart, as well as add their new types.

The quick "menu" can be accessed by pressing the right mouse button. To customize the chart type, namely the selection of the color of candles or bars, the background of the trading floor, the display of periods, the "grid", the location of the chart and its offset, you can go to the "properties" section.

Below is the trader's statistics:

• "open orders";
• "trade history";
• "assets";
• "news";
• "alerts";
• "mail";
• "visit log".

Here you can select signals or any instruments from the library.

Trading and analysis tools

Forex trading is impossible to imagine without specialized tools. Many beginners do not take trading in the financial markets seriously, and as a result, opening transactions without thinking about the consequences, so to speak, at random, like in a casino, they completely lose their deposits. Forex trading is a complex business that requires the trader to have appropriate specific knowledge, skills, self-discipline, patience and perseverance.

Metatrader offers traders and analysts a wide variety of special tools that they may need during price forecasting and market analysis.

For graphic plots:

• lines(horizontal, vertical, rays);
• channels;
• graphic shapes;
• arcs;
• fans;
• levels and more.

Technical indicators:

• trend views;
• oscillators;
• volume;
• user tools;
• indicators of Bill Williams.

Tips and tricks for using the site

According to reviews, Metatrader 4 is the most convenient trading platform. It allows you to fully analyze changes in market quotes, open deals and earn on the Forex currency market.

3 Trading Golden Rules:

1. According to the advice of professionals, before you start trading with real deposit funds, you must first gain experience and skills on a free demo account that can be opened in Metatrader.
2. The selected trading method or the operation of any technical indicator can be tested in the "strategy tester", which is presented on the platform. The longer the test period, the better, as the results will be confirmed or refuted with a greater likelihood of validity.
3. The primary task for every beginner is to learn how to minimize financial risks and save their deposit funds. And only in second place is the ability to earn and make a profit.

Metatrader of any version is an excellent trading assistant that allows you to fully analyze the financial market and earn onGerman