Metatrader 4 belongs to well-known modern platforms. According to statistics, this platform is offered to traders by about 78% of brokers, and half of them have metatrader 4 as the only terminal available to traders.
From this review, you will learn what is it and what is the secret of its popularity, as well as the benefits that this tool provide for the users. It will be especially useful for novice traders who are just getting acquainted with the functions of mt4 and want to do their best in this area.
The basics and brief history of the project
Metatrader 4 is a data and trading software package of the MetaQuotes company that was launched in 2000. It is a proprietary option since the ownership of the software belongs to the company, and the latter provides it to brokers on a lease or using other similar models. The full responsibility together with updating of the software are the tasks of the owners.
The MT4 complex has components, which are divided into two main groups:
1. Server part that is installed on the broker's server, and processes the requests of clients.
2. The part that a client downloads and installs on his device.
The brief history:
· 2000 – the appearance of the first platform FX Charts. The market at that time was in the initial stage of development and the existing products were not distinguished by high functionality and speed of data processing. FX Charts stood out for its functionality and optimal price, which helped win the competition.
· 2001-2003 – launch of the MT and MT3 platforms, which became the prototype of the universal tool.
· 2005 – launch of the MT4, in which everything was redone from the basic architecture to the new language. This tool opened the possibility of algorithmic trading to private traders, which at that time was available only on rare professional platforms.
To date, MetaQuotes is supporting only two versions of terminals – MT4 and MT5. Both options are available in desktop and browser versions, as well as for mobile options. The developer periodically updates them all.
Advantages of MT4
MT4 is often recommended to novice traders. It has a simple language that allows you to create custom instruments. Many functions are duplicated. For example, you can open an order using the toolbar icon, the Tools menu, and the right mouse button. And it is also made for beginners who can choose their comfortable platform management model.
Advantages of this option:
· Versatility and ease of use. MT4 is one of the most comfortable and easy-to-use tools, for the analysis of the functions of which on an intuitive level, a few hours are enough. It does not have too many options, but provides just enough range for the proper analysis.
· Language. The tool is built on the MQL4 language, which is considered one of the relatively simple ones.
· Community of traders. MetaQuotes has its website – the traders' portal, which unites the entire trading community. There is everything from analytics to forum discussion.
· Social trading. It provides the function of copying signals from any trader in the community, regardless of which broker the signal provider has. MetaQuotes acts as an independent regulator – to be included in the list of providers, you need to meet several strict requirements. Therefore, fake accounts are rarely found among the existing traders.
· Algorithmic trading. It supports trading with advisors, which one can add in the same way as indicators.
· Test module. The tool has a built-in tester for manual and algorithmic strategies. The history of quotes is loaded into it, test parameters are set in the tester, and the launch is in progress. At the end of testing, a backtest with trading statistics and an equity chart is uploaded. Although the tester does not take into account the floating change in the spread and other market factors, it allows you to get a general idea of the strategy. If the results are negative, then the strategy cannot be unambiguously launched on a real account.
MT4 wins due to the wide range of functions, the possibility of adding custom tools, and extended support in the form of your portal. It is one of the few platforms that provides a reliable tester.
No comments yet