The Meta Trader 4 platform has become incredibly popular among online forex traders. This is because MT4 has continued to surprise its users with many advanced features that make trading easy and fast. This trading platform saw ahead and designed its site with features that have proved to be very useful for traders. This is what has made this site to become a pacesetter in the online trading community.
Although other companies have now adopted trading features to compete with MT4, MT4 remains at the top. Its features remain unique, which makes this site most preferred by forex traders. Below are some of the best features that make MT4 the leading online trading platform.
1. Automatic trading
The automatic trading feature is the most notable of all the MT4 features. The ability to trade automatically is essential to forex traders. Although this feature is now integrated into most other trading platforms, they cannot reach MT4’s standards. It is very easy to import automated trading systems to the MT4.
Also, MT4 uses the built-in MQL language that enables users to write their own programs. Once you build your expert advisor, you can backtest using the chart history to determine if it would have worked based on previous market conditions. It is essential to backtest your EA before using it to see if it works. This will prevent you from losing your investment.
If you do not have the experience, there is an option to follow experienced traders in the market. By so doing, their trades automatically become live trades in your account. This makes you profitable even if you are just a beginner.
2. Low Resources
Many trading platforms may look highly advanced, but they tend to exhaust your device. This is because they have a very big capacity that drains your computer’s storage. So, your computer becomes overworked and starts to respond slower than usual.
On the other hand, Equiti is highly advanced as well, but it utilizes low resources. It works well on your personal computer or your Smartphone. This means you can open many tabs without exhausting your device. Also, MT4 works well, even when the internet connection is slow. This makes it loved by many forex traders.
3. One-click trading
The one-click trading was created later, way after the MT4 platform was introduced. After its implantation, this feature because a vital tool for traders. This feature allows its users to place single-click trading on your account. So, you can conduct all your trades by clicking a single button.
This functionality makes it very easy and fast to conduct your trading. New traders and scalpers greatly benefit from this feature. Traders can trade first before the prices fluctuate.
4. Running simultaneous platforms
The MT4 platform allows you to run more than one platforms simultaneously. This feature can be used by an individual or two different brokers. With the ability to run two accounts, you can use one platform for normal trading and experiment with new strategies. This feature may seem unimportant but experienced traders know its worth.
Forex traders cannot spend all their days and nights staring at the screen to follow the market trends. Also, forex trading is not the primary source of income for most people. For instance, you must do your daily chores, go to work, and walk your dog, among other tasks.
Since the market does not care whether you are busy, the phone alerts feature becomes vital in this trade. You cannot miss any market event because you will get instant alerts on your phone. This will keep you updated, and you can execute trades when the market favors you.
Different orders have different preferences when it comes to forex trading. However, with the above MT4 features, trading with MT4 becomes so much easier. You can easily manage your account and execute your trades whenever the market is favorable. With phone alerts, you can lead your life as usual but stay updated on the market trends.