MetaTrader 4 is a professional advanced trading platform. Most brokers provide MT4 platforms for their clients. The following article helps you better understand the MT4 trading platform review and its advantages/disadvantages.
MT4 Review – Pros and Cons
- Free to use many basic features
- Different indicators, analysis tools
- Stable and fast operation and large processing volume
- Technical errors rarely occur when trading
- Allows trading with many different accounts of different brokers
- Offers automated trading
- Create your own technical indicators
- Support demo account before entering actual trading
- Provide analytical tools, specialized tools of various levels from beginner to professional
- In addition to the advantages, MT4 also has some limitations as follows:
- Sometimes there is some error during the transaction.
- Compared to the MT5 platform, MT4 is more limited in trading instruments. For example, MT4 does not provide cryptocurrency or stock products, so those who have diversified trading needs or specialize in investing in other products will choose MT5 instead.
In general, MT4 is one of the easy-to-use platforms, it has many support tools, it is safe and transparent. That’s why traders all over the world love the MT4 platform so much.
MetaTrader 4 (MT4) Review
Most of the significant and reliable Forex trading platforms around the world support MT4 trading. Client and server terminals are encrypted using a 129-bit key, which supports RSA encryption. Accompanied by high speed and stability, it is forced to be attacked by hackers while trading.
So, in terms of security, this is a reliable platform with stable speed. Therefore, although there are many other platforms, leading brokers today prefer to use them.
MT4 Review – Execution Speed
Regardless of the trading strategy, speed of execution is a primary concern for every trader (from scalpers to long-term traders) because it affects his efficiency and profit.
According to market updates, the transaction processing speed on MT4 is dizzying and stable. In addition, the exchange also supports transactions due to slow network connection errors on the server.
MT4 Review – Commissions
When trading on the MT4 platform, you won’t have to pay any fees to use it. The exchange where you open the account will pay that fee.
However, you will have to pay trading fees to your brokers. And this commission is different among forex brokers.
Who is MetaTrader 4 for?
MetaTrader4 has something to offer anyone willing to trade. Compare what it can do to help beginners and advanced traders. Yes, a demo of Meta 4 would be useful, but you need to know what MetaTrader can do for you.
With its simple design, excellent user interface, and features such as copy trading and trading robots, MT4 is ideal for beginners.
In addition, you can also practice trading on the MT4 demo account until you master it. You will be given a virtual currency and feel free to experience all the tools, indicators and charts in real time, like in a live account.
The MT4 platform also attracts professional traders due to its advanced charting and technical analysis capabilities, built-in indicators and charting tools, and many other unique features. The platform also enables automated trading by programming with MetaQuote’s PROPRIETARY MQL4 language and building custom indicators.
Is MT4 safe?
Yes. MetaQuotes – Mt4 software development company is a provider of platforms that meet the strictest IT security regulatory standards set by financial regulators in every country in the world. MT4 also encrypts all user information data for account security during MT4 trading. So the MT4 product is a safe, reliable and reliable software.
Is MT4 free?
All traders can download the MetaTrader 4 software for free and use their computers and mobile phones.
However, to access MT4 and trade, you need to open an account at a broker/exchange that offers MT4. And depending on the broker, you will be charged a transaction fee (e.g. spread, swap, deposit/withdrawal).
What tools are available on MT4?
You can trade currency pairs, commodities and CFDs on MT4.
What is the minimum deposit to trade on MT4?
MT4 is simply a technical trading and analysis platform. MT4 does not directly handle investor payments (including deposits/withdrawals).
Therefore, the minimum amount of the deposit to the account will be determined by each exchange.
What reliable brokers offer MT4?
If you are looking for reliable trading platforms for MT4 platforms, you can refer to some of the following brokers:
Does MT4 offer a Demo account?
MT4 offers a Virtual Currency Demo account available for traders to test the platform and explore the market.
MT4 Demo is designed to resemble a real account (look, chart, markets). You can use the free MT4 indicator, tools, and add-ons as a real account.
The MT4 demo account is available on desktop, tablet or mobile devices and Windows, iOS and Android operating systems.
In summary, MetaTrader is a prevalent trading platform among financial investors, especially forex traders. Although Metatrader 5 was later released, providing more features, MT4 still possesses a larger client base because it almost entirely meets the trading analysis needs of traders.
However, you should note that MT4 is simply a platform to help you make buy, sell, and technical analysis transactions. You will need to open another broker’s account and log in to MT4 to analyze and trade. So, be careful in the process of choosing a reliable and safe exchange to avoid unnecessary risks.