We’ve all heard of the immense popularity of MetaTrader 4 and how the number of users keeps on growing despite the release of its newest version, the MetaTrader 5. MT4, simply known as MT4, is a trading platform said to be specially made for Forex trading. Since 2007, this trading platform has become so popular among Forex brokers and was even tagged as the world’s most popular and commonly used trading platform.
But the question is, how did MT4 become so popular? Here are some of the reasons why brokers and traders love to use MT4.
Cost-Efficient and Ease of Use
Without a doubt, MT4 is the leading trading platform. But one of the reasons for its popularity is because of its ease of use and no cost of set up. This is the main edge of MT4 among other platforms offering the same services. Additionally, for newbies, it is already challenging to trade. But the struggle gets doubled if the platform is not user friendly. But you need not worry. This is because the MT4 platform is very easy to use that even beginners in trading will find it easy to manipulate and perform the tasks that need to be done. The MT4 platform is simplified and has a thoroughly clean interface. Even the setting of MT4 is very fast and straightforward.
If you are a meticulous broker, you will enjoy the analytical and trading technologies of MT4. Plus, this is not just for newbies, professional traders will love this feature so much. Other than that, the platform also offers precise algorithmic trading which basically allows trading through the use of automated trading systems.
The MT4 trading platform can be customized according to your preference. For example, traders will have the freedom to rearrange the window, switch from one account to another, change how the chart appears or the colors of every technical indicator, or utilize different external and internal indicators.
Wide Array of Available Features
Due to the number of available features in MT4, it has become ultimately popular ever since its launch in 2005. Additionally, the MT4 is also known to be the first trading platform to introduce the social trading concept. For the past years, the platform continuously added new features with some of its features considered as the pillar of trading – one-click trading, access to the MQL4 community, real-time quotes, Expert Advisors, customizable tools, available on different channels, and multiple language support.
MT4 is convenient in all aspects of trading. That makes it very popular. What makes MetaTrader 4 convenient is its server stability and good communication. The developers of this trading platform have developed strong server stability as well as advanced communication ability.
MT4 might be complex but it’s super light and works pretty well even when you have a low internet connection. This makes the software super reliable.
Finally, MT4 has the highest trading security. It incorporates 128-bit encryption to better provide protection for the trader’s personal data.