Why people prefer MetaTrader 4?

Why people prefer MetaTrader 4?
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MetaTrader 4, also known as MT4, is an electronic trading platform widely used by online retail foreign exchange speculative traders. It was developed by MetaQuotes Software and released in 2005. MetaQuotes Software Corporation was Founded in 2000. The software is licensed to foreign exchange brokers who provide the software to their clients. The client is a Microsoft Windows-based application. This became popular mainly due to the ability for end users to write their own trading scripts and robots that could automate trading.

For facilitating trading with a number of clients, businesses have now developed Market Depth Plugin that can show an orderbook of 10 levels that are streamlined through the system directly. The MT4 platform enables to integrate no dealing desk execution in a seamless manner for executing forex transactions. It means there would be no bridges by the 3rd party and there is no need to sync any account.

What are the features of Metatrader 4?

While trading with MetaTrader 4 as it allows MT4 scalping which makes it an advantageous option.  In addition, it also offers the following features, such as:

  • Offers the liberty to set up limits to curb loss or increase the profits while involved in a brand new trade
  • Enables to trade in a precise manner to manage the risks in a tight manner
  • Have full control over the time and limit to close a position
  • Take full advantage of the liquidity cloud that lets user match numerous flow sources in one location
  • Trade efficiently while saving a lot of cost involved in the process
  • Enjoy an open API system along with NDD MT4 to improve the connection processes

The main advantage of opting for the FIX Bridge supported by MT4. This is a prime feature for users to set the order limits and the margins can also be blocked. This also bestows the ability to match trade the bridge and set the order limits or stop it with the help of a matching engine. People can also perform margin blocks directly using the MT4 accounts as it has excellent functionality and is a unique platform in the present market. Unlike the rest of the bridges that sends users just market orders. That is a biggest disadvantage for brokers in Forex trading.

Match Trade Bridge also enables to obtain specific orders upon request. It get paid in configured currency and in preferred groups. The requests for orders would process through the matching engine. This engine will wait for the response from the same. After obtaining the receipt for the response the orders will book using MT4 and through the trading account of the client.

Benefits

  • Instant order execution
  • Fast quote updates
  • Confidential transactions
  • Many different quotes
  • Wide range of technical indicators and linear instruments
  • Advisors and user indicators
  • Automation scripts
  • Trailing stops
  • System and trade alarms
  • Market alerts
  • Quick Dow Jones news updates
  • Chart and diagram printing
  • Integrated email
  • Built-in help

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