The MetaTrader 4 (MT4) terminal is one of the most widespread platforms over the world. The first improved version of the terminal was introduced by the Metaquotes Software Corp. in 2005. Currently, the MT4 is licenced to various forex brokers. It provides real time quotes of financial instruments, charts, and many different types of orders. Customers can also use so-called expert advisors (EAs) or copy deals of other traders. The software company has developed its specific programming language for creating custom expert advisors and technical indicators, called MQL4 and MQL5.
There are two execution models of market orders, several pending orders, and a trailing stop. The so-called one-click trading is also available, so customers can trade directly from charts by just one mouse click. Timeframes can be changed from 1 minute to 1 month, there are 30 built-in indicators and over 2,000 custom indicators. Current market movements can be analyzed in different time-frames, building short-term and long-term strategies.
Customers can use graphical objects such as lines, channels, Fibonacci retracement and other shapes. They can be placed in the areas of the chart and indicators and are available in all time frames. Another useful thing is the ability to open an unlimited number of graphics in real time. A real-time financial news plugin is also available. Customers can create pricing alerts that trigger an audible alarm, send an email or SMS. Experienced traders can rent virtual hosting directly from MT4, finding the best way for continuous work of EAs, the software maker claims.
MT4 can be run on a web browser as well. The terminal is also available as a mobile application for iOS and Android devices. They also provide some additional features such as chat and push notifications.
MT4 is one of the best platforms currently available in the Forex industry. It provides everything that traders need for successful deals.