MT4 is the most popular trading platform tool in Forex Trading . In the field of Forex Trading, the MT4 series has lowered the threshold of difficulty for the public People to get started in Trading on Forex. Many trading securities dealers & Broker regard it as one of the necessary tools.
What is the MetaTrader 4 (MT4) trading platform interface tool?
Learn about Meta Trader series
Learn about the Meta Trader series No matter which MT4 broker you choose, you always use the same MT4 platform for trading, so what is the actual difference between using one broker and using another? There are five main differences between many MT4 brokers. Below we will list these differences and problems for you to choose a trading platform in the future:
Can I trust this trading broker Platform?
In many cases, the most important consideration when choosing a trading broker is their goodwill evaluation. This is why we only choose to show trading brokers certified by major national regulatory agencies, such as the UK FCA, Cyprus CySEC and other regulatory agencies , These regulatory agencies have adopted strict inspections to ensure the safety of investors’ capital.
Do I execute the Trading I want to execute?
Each trading broker will decide for themselves which Forex pairs, stock pairs, and commodity futures pairs they want to provide on their trading platform for investors to trade. Most trading brokers will provide all major and minor currency pair forex, but Some trading brokers provide a wider range of other asset classes, such as virtual currency trading, emerging country currency pairs, stock CFD and other trading products. If you are looking for a specific trading product, you can find out if they provide it on their MT4 This transaction pair service.
The cost of each Trade executed
Each trading broker has set up different trading spreads, handling fees, swap rates, deposit and withdrawal fees, etc., all together will change the cost of your transaction with them. It is always worthwhile to calculate the amount that each broker may pay for each transaction. For convenience, we have performed these calculations in the reviews of each trading broker. You can understand their cost range through the evaluation of our trading brokers.
How is my trading order executed?
It is the same as all trade in reality. There must be a buyer and seller between the buyer and the seller to reach a order. When you place an order in the MT4 trading platform, your trading broker will match both buyers and sellers for you at the same time and earn the difference from the difference. Service fee.
Most trading brokers will perform this role for you by taking the opposite Trades so that you can execute the trades you want-brokers that do this are called “market makers” and other trading brokers, usually called ECN A trading broker matches you with another trader or bank who wants to trade with you in the opposite direction. There are pros and cons to each of these two execution methods. The minimum deposit of ECN brokers is usually very high, and the pricing is more suitable for professional traders with high trading volume, while market makers are often more suitable for traders who wish to conduct small Trading. You can click on these links to learn more about market makers and ECN trading brokers.
Can I trade the volume and order size I need?
Your trading broker will increase certain restrictions such as providing minimum and maximum deposit amounts, maximum open positions and minimum transaction sizes.
If you want to trade particularly high or particularly low amounts, you need to make sure that your trading broker allows you to do so because when you open a trade order or deposit amount that does not comply with the trading broker’s restrictions, MT4 may not be able to do so. Trading or unable to place an order, the result is that your trade order cannot be executed, or you are forced to change the trading strategy and other unexpected conditions.
Advantages(pros) and disadvantages(cons) of MT4
Overall, the advantages of the MT4 trading platform outweigh the disadvantages, but it still has some disadvantages. The following are the main advantages and disadvantages of using MT4 as a trading tool.
MT4 advantages (pros)
- Overall, the most versatile user interface UI is for beginner traders.
- Most Forex and CFD trading brokers provide MT4 as the main trading tool to their customers. For the customer switching platform, there is less pain in the conversion platform and it is easier to change the broker without having to learn to use a new trading interface.
- Provide a complete interface in different languages.
- It is common to computers, mobile phones, tablets, and Apple systems and Linux systems, with only minimal differences.
- One Cilck Trade and Scalping Trade
- You can hedge trading positions.
- Secure transaction encryption protocol.
- Provide programmable automatic trading MQL4.
- Excellent technical analysis chart function and indicator options.
- Backtesting allows traders to test their strategies using historical data.
MT4 disadvantages(cons)
- MT4 cannot provide trading frequency in seconds
- without Social trading copying
- MT4 uses a different programming language from MT5, so plug-ins and accounts cannot be ported to newer platforms
- Any Forex or CFD brokers launched after 2018 cannot provide the MetaTrader 4 platform, because MetaQuotes no longer issues MT4 licenses, but instead issues MT5 licenses to brokers.
- MT4 allows the use of redrawn data, and these indicators may mislead people into thinking that their performance is better than their actual performance.
What can you trade on MT4?
The assets you can trade on MT4 depend on the trading broker you use.
In MT4, you can view the trading pairs that your trading broker allows you to conduct by pressing Ctrl+U on the keyboard. Or you can click “View” in the navigation bar at the top of MT4 and then click “Symbols” to view this information.
Generally speaking, the list of tools you can trade on MT4 depends on the trading broker you use, and it mainly covers the following six typical assets and asset classes.
- Currency pairs –
Most traders use MT4 Forex trading in MT4, the currency pair is usually divided into major currency pairs (eg EUR / USD), the minor currency pairs (eg EUR / CHF) and emerging currencies (eg USD / SGD ) While most forex brokers will offer seven major currency pairs, but brokers offer products are usually minor and emerging market currency pairs. - Stock pairs-
You can usually trade some very popular stocks through MT4. These are usually blue chip stocks, such as Apple, Microsoft, Yahoo, Google, Coca-Cola and Tesla stocks. - Stock index –
You can sometimes trade major stock indexes in MT4, such as the UK’s FTSE100, France’s CAC 40, or Germany’s DAX 30, which measure the performance of the global stock exchanges. - Cryptocurrency –
In addition to derivative cryptocurrencies such as Bitcoin Gold and Bitcoin Cash, some brokers also provide execution services for major cryptocurrencies such as Bitcoin BTC, Ethereum ETH, Ripple, Litecoin LTE and EOS through MT4. However, please note These relatively new markets may lack liquidity and rapid price fluctuations may not be suitable for beginners. - Commodity futures-
Most brokers provide their clients with a set of popular tradable commodities through MT4, although some brokers provide broader commodity market access, especially if they offer CFDs or CFDs. The most common commodities offered by trading brokers include precious metals such as gold, silver and platinum; energy products such as WTI and Brent crude oil, natural gas and gasoline; and agricultural products such as corn, sugar, wheat, coffee, cocoa, soybeans and cotton. - Fixed income securities –
Some trading brokers provide their clients with a small number of fixed income tools to trade through MT4 with lower leverage. In most cases, these are limited to government bonds issued by the United States, Japan, and major European countries.
MT4 Q&A Questions
How to use social Copy trading on MT4?
MT4 provides a social trading function called trading signals (Trading Signals), which allows you to automatically copy another trader’s trading order in same time. Signal providers sometimes provide these for free, and sometimes copy their Trading order. Need to pay.
In order to copy and copy other traders, you must use MT4 real account and register MQL5.com account, and have enough funds, so that you can see the “Signals” of other trading signal providers and then you can subscribe to track them
Scalping and Hedging on MT4
Scalping is a short-term trading strategy that takes advantage of small market fluctuations. Due to its fast “one-click” trading function, it can be implemented very successfully on the MT4 trading platform. However, many trading platform brokers may not allow this strategy. Or the trading broker may artificially impose the holding time required for trading positions, which may make the strategy less feasible.
Hedging is still possible in the MT4 trading platform, although similar to scalping, certain brokers and jurisdictions may have different rules when it comes to whether a trader can hedge positions in this way. For example, many UK MT4 brokers allow Their UK clients use MT4 for hedging transactions, and they also deduct the trader’s margin requirements accordingly. This means that if the trader hedges the transaction, the margin of the original Trade order will be reduced after the hedge is established, because the hedge Trade order completely or partially eliminates the risk of the initial position.
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Reference
List of supported MT4 trading brokers
AvaTrade、IG、XTB、City Index、Markets.com、Core Spreads、EasyMarkets、ETX Capital、London Capital Group、ATFX Global Markets、Trade.com、Admiral Markets、ForTrade、FXPro、Oanda、ForexTime、HY Markets、Pepperstone、ThinkMarkets、Axitrader、Exness、FXCM、FXPrimus、GKFX、IronFX、Orbex、Roboforex、Swissquote、Tradeo、TrioMarkets、UFX、XM、AAAFX、ActivTrades、ADS Securities、AFX Capital、AGM Markets、Alpari、ATC Brokers、Blackwell Global、Boston Merchant Financial、Bulbrokers、CFI Markets、CM Trading、Darwinex、Delta Stock、Dukascopy、Eightcap、FBS Inc、Fibo Group、Finotec、Forex.com、Forex4You、Formax Market、FP Markets、FXCC、FX Global Markets、FX Open、FXDD、FxGlobe、FXGrow、FxNet、FXStat、GDMFX、GO Markets、Hantec FX、Hirose Financial、HiWayFX、HF Markets、IC Markets、ICM Capital、Ikon Finance、Ingot Brokers、Instaforex、Invast、JFD Wealth、Mayzus、MultiBank Exchange Group、NordFX、NSFX、OctaFX、One Financial Markets、PriorFX、Stock.com、Sucden Financial、Super Trading Online、SVS Securities XO、TFI Markets、ThinkMarkets、Tickmill、TopForex、Tradenext、Traders Trust、Vantage FX、Vinson Financials