Over the years that forex market has been liberated, it has grown popular and attracted many people from all over the world.
Many have become expert traders and are actually making a living from it. On the other hand, many have lost money or are learning how to become as successful as others have.
One of the main features of forex trading is a trading platform. A trading platform is the means through which traders use to view the market and place trades through a broker.
The most popular forex trading platform is known as Metatrader4 or MT4. It is used by hundreds of brokers and thousands of traders.
Here is why you should choose the Metatrader4 online forex trading platform.
Easy to access
The forex Metatrader4 online trading platform is easily accessible. First, you can access it right from your browser, open your account and start trading. You can also download a shortcut access onto your desktop for faster access.
Further, if you are an ardent user of mobile devices, such as tablets and phones, you can easily download the MT4 app. This will allow you to continue trading even when you are on the move.
With Metatrader4, you will never miss a trade.
You can use it regardless of the operating system on your computer
Unlike other platforms that only work with specific platforms, MT4 is compatible with all computer operating systems.
You don’t have to buy a new computer to trade with or move to operating systems that you are not comfortable using.
Security
When you are investing or spending money on the internet, you want to know that your money and identity is safe.
With the MT4 platform, you are assured of this. First, data sent between the trader and broker’s server is encrypted, and therefore, cannot be accessed by third parties. Secondly, the platform ensures that your IP address is hidden boosting your security and privacy.
Real time market access
When you use the Metatrader4 platform, you have real time access to the forex market. The prices that you see are the prevailing prices and your trades register at those current prices.
This helps you to easily and correctly estimate how much you can make in profits and costs that you will pay as you trade.
Easy technical analysis
Technical analysis is a skill that every trader needs to have. It involves studying historical price movements of the currency pair or other assets that you intend to invest in. By looking at the historical prices and market conditions, you can then compare them to current conditions to make a good decision on how to invest.
With the MT4 platform you can do this easily and quickly. The platform has 30 indicators and over 20 graphical charting objects inbuilt in it. You can use these to go back in time, extrapolate to the future and make a quick decision that guarantees you a profitable trade.
Record keeping
Every successful business keeps records of its operations. Through the records, they are able to see their correct status over time.
As a forex trader, record keeping is important. You can check and revise your trading technique and you can easily see how much profit you have made over time.
With the Metatrader4 platform, record keeping is done automatically. You can easily access your past trades and profits on the platform at a single click.
You can place all types of orders
When online trading forex, there are different types of orders that you can use. On MT4, you can use all the orders available to you. You can place a market order to buy and sell or a stop order that will help you protect against profit losses.
Conclusion
The Metatrader4 online trading platform is not popular for nothing. In addition to these features you can use it to automate your trading. Join thousands of traders and brokers who use the MT4 platform to succeed in online forex trading.
