You must have realized that the more technology evolves, the more people want access to the latest versions. Everyone wants the newest version of every technological product on the market, which is nice. However, with forex trading platforms, it is not always the case. Metatrader 5 is an advanced version of MetaTrader 4, designed to upgrade with added features, add ons, etc. But, with critical observation, you realize that most users are reluctant to make the switch. It is almost as though most forex traders feel so comfortable with the older version- MetaTrader 4. And so one has to wonder, what is MetaTrader 4 and why is it so popular?
In this article, you will get to discover “what is MetaTrader 4,” its uses, and the reasons that make it so indispensable also, if you have ever wondered why you cannot seem to embrace the latest MetaTrader 5. Or you want to know why older and more advanced traders advise newbie traders on using MetaTrader 4, here is why.
What is MetaTrader 4?
Metatrader 4 is an online trading platform created by MetaQuotes in 2005. It is also available on desktop, mobile, and web versions. And each version works just fine, providing client usage satisfaction on all online transactions. It is popular among retail forex traders who want to trade the global market. Essentially, foreign exchange brokers obtain the license from the developers and use this license to provide the software to their clients or users.
In addition to forex currency trading, MetaTrader 4 also facilitates trading other assets like cryptocurrencies, stocks, bonds, commodities, etc. Because of its wide range of usage, it becomes necessary to understand what makes it so popular. Below are a few reasons underlying the popularity of MetaTrader 4.
What is MetaTrader 4: Reasons for its popularity
Regardless of the upgraded version-MetaTrader 5, many traders continue to stick with the older version-MetaTrader 4. As a result, the popularity of MT4 among forex traders continues to rise every day. Here are some of the reasons why MT4 is so popular. And possibly why you find it difficult to stop using it as a forex trader.
It has a user-friendly interface.
The word out there concerning the user interface of MT4 is intuitive. People using the platform have reported that it is super easy to understand and relate to. Therefore this means a reduced learning curve for anybody new to trading. It is already hard enough trying to learn how to trade the forex market. You can imagine how excruciating it probably would be if a user had also to learn how to navigate the platform.
It constitutes a lightweight possession.
The MT4 is generally lightweight and works fine on both mobile and desktop devices. Additionally, many users have testified that the platform does not constitute any lag on their devices. And it does not reduce the processing speed of whatever device you choose to use it. It is both Android and IOS friendly which makes it somewhat universal.
MT4 is safe
The platform provides excellent security to users by a 129-bit key data encryption between server and trader. The reason is that most online traders deal in huge funds, of which exposure to hacking can devastate many lives. In addition, your IP address is completely concealed, whether or not you use a virtual private network.
Fluid exchange of information
In this day and age, the global market and large economy deal in loads of information. Essentially, information is a vital commodity for driving almost every activity. Therefore there has always to be clear and fluid, and smooth communication among trading parties. As a result, the MT4 platform provides accessible communication between brokers and traders. The essence is to give everyone on the trading platform an exceptional trading experience. Also, MetaTrader 4 provides news and other analytical tools to aid users.
It is highly customizable.
MetaTrader 4 is highly customized because it allows users to make their trading experience peculiar to their needs. It means that every user can have personalized trading and relate to the platform in the way that he or he wants. MT4 allows you to trade with other markets and supports all currency pairings. It is flexible that you can easily create and develop your trading strategy and even your expert advisors (EA).
How telegram.forex helps you enjoy MetaTrader 4
Since MetaTrader 4 also supports and allows copy trading, it can help you make the best of social trading. Essentially, with your access to the platform, you can connect it to all your social media accounts to receive and implement signals.
This makes it easy to integrate signal tools such as telegram.forex and automate your trading for a better trading experience with incredible results.
FAQS: Why do most traders use MetaTrader 4?
Why do most traders use MetaTrader 4?
Most traders use MetaTrader 4 because of its user-friendly and intuitive interface. It makes the platform useful to both beginner and advance traders, which facilitates learning. Several retail traders use it to open, close, and manage trade moves from anywhere in the world, regardless of the device they use.
Can you have MT4 and MT5?
Both MT4 and MT5 are cut from the same stalk. Essentially MT5 is supposed to be an upgraded version of MT4. However, some traders still like to have the two platforms on the same device, which will require separate accounts. While MT5 allows broader applications, MT4 allows forex trading at its basic form to suit most traders.
What is MetaTrader 4?
Meta trader 4 is an online trading platform created by MetaQuotes in 2005 that allows retail forex traders to access the global foreign exchange market. It is the choice platform for most brokers and users because of its straight rather than steep learning curve and general acceptability.