MetaTrader Forex Brokers: The Benefits
MT4, which has been adopted by most MetaTrader Forex Brokers as the standard version, is extremely user-friendly. Its intuitive interface and essentials for traders are laid out clearly. In the charts window, for example, there are useful tools, such as line-drawers and pip rulers. These give traders an graphical tool to aid them in executing a specific trade.
Expert advisors. These are computer programs which execute trading based on very specific rules. MetaTrader is popular for this reason. Expert advisors could allow traders to trade without any human involvement, or even trade with no fear or greed.
MQL4 (a C-like language) is used to design and program expert advisors. This allows traders who know the language to create their own expert advisers, or modify existing ones. Expert advisors are designed to mimic trading behaviors set up by programmers.
MetaTrader’s trading platform is available for free. The MetaTrader platform can be downloaded from MetaTrader forex brokers or from MetaTrader’s website and installed on any computer.
The MT4 community has a lively and vibrant community. Many programmers sold expert advisers to traders, and traders reviewed their utility. MQL4 programmer also frequently creates custom indicators and shares them in various Forex forums. There is a growing market for ready-made expert advisers. Many custom indicators have also been created by the MQL4 community.
How can I begin trading using MT4?
It is also free to download. MetaTrader Forex Brokers are the only way to use this platform for trading in Forex. The broker acts as a middleman consolidating and executing trade orders. MT4 has become so popular that most Forex brokers such as Oanda, AvaFX, etc. will allow you to trade using MT4 and their in-house developed platform.
MetaTrader’s popularity among financial traders is no surprise. MetaTrader Forex Brokers are abundant because they offer so many benefits.