Today, MT4 is the most popular Forex trading platform. More than 90% of Forex brokers use MT4 as their key exchange GUI, according to recent figures. In certain instances, brokers often have commercial terminals built by the firm’s experts, but such platforms are uncommon. Several commodity trading sites can give MT4 significant rivalry, but dealers and brokers worldwide prefer the flexibility and reliability of the MT4 platform.
Over the years, MetaQuotes, the organization that has developed the MetaTrader Application, has revamped its trading terminal and created a fully personalizable platform, where even a beginner trader will appreciate. The MT4 is not as visually appealing as specific other platforms, but its flexibility and reliability is the critical asset.
MT4 has a robust exchange platform that provides personalized trading functions. It provides several maps with various timeframes to be used according to the trader’s needs for different graphs and charts.
MT4 also provides a comprehensive variety of built-in indicators, graphs, EAs, and additional resources for exhaustive technical and fundamental market research, which can be augmented by additional texts, machines, indicators, or third-party signals. It is also entirely flexible, meaning programmers can adjust the platform and build multiple interfaces on the go. The open-source design of the MT4 allows it to be highly common with Forex traders because of Meta Trader’s customization choices.
Via its backtesting platform, MT4 provides alternative strategy testing and enables traders to monitor bots, EAs, signal providers, and other tactics in live market conditions. MT4 allows multi-account terminal trading, enabling a broker to use a shared network to manage multiple client accounts. Multi-terminal will allow merchants and customers to experience a smooth operating climate and share the profits’ income. It can be quickly configured according to a broker’s specifications, and setting up a brokerage utilizing the MT4 terminal is comparatively more straightforward for a broker.
While MT4 has an overwhelming amount of market share, there are a few alternatives in the industry that are steadily gaining popularity. A few rival trading platforms prove to be shared among the more developed traders in the industry, such as the cTrader, ProTrader, and NinjaTrader platforms. The cTrader platforms are an ECN gateway directly linked to a group of liquidity suppliers that combine the shortest latency and best price quotations between all trading platforms. Of course, any platform has its range of advantages and disadvantages, but ultimately, MT4 has no significant disadvantages that render it less fitting than the others.
MT4 also manages to satisfy the modern trader’s requirements, which has helped MetaQuotes leverage the tremendous demand from the retail trading industry. In its innovation for the future, which looks bright for traders and brokers alike, MT4 does appear to lead the path ahead.