When trading Forex in South Africa, it is no longer news that you will come across many trading platforms in the market. However, what makes a trading platform dominate a given market is the availability of tools and resources that allows traders to efficiently analyze the market or other trading techniques. And this is where MT4 scores beyond the scoreline compared to other trading platforms.
What is MT4?
Simply put, MT4 is a widely recognized forex trading platform which is becoming popular by the day at an impressive rate, primarily due to its flexibility in the use of advanced tools and resources in analyzing trading trends.
Undoubtedly, millions of traders prefer this trading platform because of one critical reason; the use of expert advisors to help in financial analysis. CM trading is not an exception since it is also committed to incorporate MT4 in its operational structure and provide an enjoyable trade environment for traders.
As a matter of fact, MT4 has maintained its dominance in the forex world because it is offered by most serious Forex brokers. Therefore, even if you are a novice trader, you don’t need to worry because this trading platform got you covered.
One amazing thing about the MT4 trading platform is that they are available across hundreds of online forex brokers. Furthermore, the various operating system supports MT4 platform including Windows operating system, desktop, and Mobile apps for Android, and Apple iOS devices.
History of MetaTrader 4
MT4 was developed by MetaQuotes Software in 2005. Since then, it has evolved to see the introduction of multiple amazing features such as expert advisors. This trading platform was developed to either be client-based (installed on desktop/computer) or server-based (operated by the broker). On the server-based setup, a trader can live streaming prices and charts, place orders, and manage their accounts.
Advantages of MT4
It goes without saying that nearly all forex traders engage in Forex trade with an objective to maximize profit while at the same time minimize loss. However, for novice traders, this can be a very intimidating time since the financial world is susceptible to financial threats including dangers of hacks and scams. But with the MT4 platform, your security is guaranteed.
In either case, make it a priority to seek proper guidance whether you are a beginner or an expert in forex trade to have an enjoyable conducive trading environment. However, the MT4 platform has been adopted by hundreds of brokers around the world due to the following reasons: –
- User-Friendly Interface
By far, this remains the most significant advantage that keeps enticing new traders. With such a user-friendly interface, a trader can access the platform from either their smart gadgets or desktop at any time. Furthermore, you can personalize the interface to suit your preferences. Be part of history and by satisfying your forex wants in the comfort of your house by using MT4.
- Easily customizable
As we mentioned earlier, millions or traders across the globe use the MT4 trading platform. With this vast global community, dozens of languages are involved. Luckily, the MT4 trading platform is highly flexible and easily customizable to support these multiple languages.
- Easy-to-read charts
With the MT4 trading platform, traders get the opportunity to analyze the market trends with the help of advanced charting capabilities exclusively available in the platform. With the easy-to-read charts, forex traders can manage their trading operations by analyzing the market trends.
- Expert Advisors (EAs)
Expert advisors remain one of the most distinctive reasons for the popularity of the MT4 trading platform. With EAs, traders can automate their trade in the forex market by receiving trade alerts from trading robots. Expert advisors guarantee you automated market analysis and evaluation.
It goes without saying that forex trading involves the financial flow of money. As a result, there are multiple dangers associated ranging from scams to hacks. But with the MT4 trading platform, your forex trade is super-secure since the platform encrypts data between the trader and the server.
Why consider MT4?
As mentioned earlier, millions of traders prefer to use the MT4 trading platform. That’s why you should also struggle to be part of history by joining MT4 which undoubtedly is the most advanced and highly secured Forex trading platform in the market.
MT4 trading platform fulfills your forex trade goals; making you enjoy every bit of your trade. Therefore, look no further and struggle to stick to a trading platform that has already proven to satisfy millions of traders in addition to being widely accepted.
How To Select The Best MetaTrader broker
There are multiple brokers in the market today who offer MT4 trading platform. Of course, not all of them provide fulfilling and engaging services. As a result, you should consider the factors below when choosing the best broker: –
The spreads available
Other value-added services provided by the broker.
Cons of MT4
As we are all aware, nothing can be 100% perfect on the planet earth. The same case applies to the MT4 trading platform which has its own set of weaknesses: –
MQL4 language is not bug-free
Unsuitable for high-frequency trading operations
Once you get a trustworthy broker, MT4 will remain your best forex trading platform. For one thing, unlike its successor MT5, Meta Trader 4 takes less of your computer’s memory, which further adds the reason for its popularity. Another crucial factor that may help you to decide to use the MT4 platform is access to the strong online community which allows you to execute trade conveniently and at a fast rate; proving that the platform is suitable for the task it is meant to do.
Despite the emergence of other trading platforms in the forex world including MT5, Meta Trader 4 is still the most popular trading platform among the global online community. What has helped this highly interactive platform maintain its dominance in the forex world is the adjustments in technological innovations to see the platform introduce various tools and features that enhance the trader’s trading ability. Following the positive reviews from traders about the MT4 trading platform, it is easy to conclude why traders love this platform which is also likely to increase your chance of success in the forex market.