The MT4 trading platform created by MetaQuotes Software Corporation is considered by many traders to be one of the most user-friendly and reliable forex trading platforms available today. Also, it offers a variety of versatile features.
Part of its popularity stems, of course, from the fact that it is a free platform, now widely available from a huge number of forex brokers. Its reputation as the forex trading platform of choice for traders was further enhanced by the release of MT5 in late 2009. This added equities, CFD’s and futures markets to the already well-established forex markets
One of the beauties of the MetaTrader 4 platform, and the reason many forex traders use it exclusively, is the ease with which you can enter your trades. The simplest and quickest way is to select your pair in the market watch window to the left of the screen, then double-click. This will automatically open your order window, showing the tick chart and all order options. A second way is to right-click on the chart, select trading, and the ‘new order’ in the drop down menu. The third option is to select the ‘new order’ tab in the top navigation panel. Finally, hit F9, which again will pop up the order box.
This is one of the great features of the MetaTrader platform, making it easy to place and manage your positions. Stop-loss management is simplicity itself, with orders trailed up and down the screen to lock in profits as the trend develops.
The MT4 user interface is extremely easy to use, and the platform offers quick, easy access to charts, indicators, and quotes. In addition, account balances, open positions, and trading history are just one click away, along with the latest market news, which many forex brokers often provide free of charge. With all the charting and trading capabilities built into a single platform, MT4 offers seamless integration between the technical view of the market and order execution, all on one chart.
In February 2014, Metatquotes released its latest and most comprehensive update to the platform, with the release of build level 600. This release included many new and exciting features, including an online shop for third-party vendors, enhanced security, and additional features on the trading platform. From a development perspective, the big change was in the merging of MQL4 and MQL5, a step in the right direction as far as we are concerned. With these changes now established and with many revisions and updates since their release, the Metatrader 4 platform looks set to dominate the forex trading space for years to come.