MetaTrader 4 Forex Brokers – 5 Key Reasons Why You Should Try This Platform

By in Forex Brokers on May 19, 2019

Metatrader 4 platform is gaining a great popularity among forex traders, so there is a wide range of MetaTrader 4 Forex brokers to choose from. While some brokers have represented the platform together with their own platforms, many use exclusively MT4.

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Here we are going to highlight the reasons as to why you should learn to use MetaTrader 4 platform before deciding on which trading platform you should use in your trading activity.

Forex MetaTrader 4 Can Be Downloaded Freely

You can download MetaTrader 4 trading platform for FREE. You do not necessarily need to open a live account to check it because most brokers will provide you with free demo account.

This will enable you to try the platform and get adjusted to its functionality without the necessity to open a live account.

MT4 Can Be Used as Forex Trading Portal

The MetaTrader trading platform supports a wide range of chart types. The premium charts provide real time value updates and can show data in different time-frames for each currency pair.

Further many MetaTrader 4 Forex brokers will also offer quality news-feeds from Dow Jones news for instance. These are feed directly into the platform which assists to make MetaTrader a one stop dealing platform for experienced forex traders.

A Wide Range of Advanced Trading Indicators

Many brokers will offer the platform with a wide range of trading indicators to be applied on the platform. These involve both common technical indicators including moving averages to more superior trading indicators. They are easily used straight to the chart and will update in real time.

Custom indicators are available and if they are not offered by the broker they can commonly be downloaded for free from the internet and set on the platform.

For savvy in programming traders the interface gives you a possibility to program your own indicators and strategies and perform full back-testing. This is offered by few other platforms.

Forex Brokers with MT4 Allow Scalping and Hedging Strategies

This becomes popular, most brokers use “Expert Advisor”, an automated trading strategy traded by a forex robot. They can be downloaded into the platform to provide complete trading strategies with exit signals and trade entry.

Some ECN Forex brokers provide complete automation of a trading strategy (you can choose based on past performance) on your account and can be left to trade 24 hours a day.

MetaTrader 4 is the Most Common Forex Broker Platform

Due to the fact that MetaTrader is widely used, you can run several accounts across various brokers and still use the same platform. It also means that you can easily shift an indicator from one MetaTrader 4 Forex broker account to another. Also any templates or expert advisors can be duplicated easily.

An additional benefit is that you can switch from one Meta Trader 4 Forex broker to another without learning a new forex trading platform.

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