MetaTrader 4, or MT4 as it is also referred to, is a platform that has become synonymous with online forex trading. The platform has become the market standard, universally used by brokers around the world. It’s popularity stems from it being, free, technologically advanced and user friendly. Furthermore, its high security standards have created for it a trustworthy image and a strong community of users.

In recent times the debate has been growing as to whether MT4 has become less innovative compared to other platforms. This article intends to outline the features that have made MetaTrader 4 the market leader.

The adaptability of a platform will always rank high among features that are desired by traders. Traders, both new and experienced have found MetaTrader 4 to be a flexible platform, that can be customized to suit their preferences. An example of this is how users can develop their own Expert Advisors and technical indicators. In addition, traders trying to meet specific practices will benefit from using MetaTrader 4, as it is compatible with all trade-publishing services.

 MT4 is very user friendly. Examples include its charts, which can be customized to help visibility, and analytic indicators, which can be viewed simultaneously. Moreover, the platform is very accessible. MT4 can be used in a wide array of languages and there is also an MT4 platform for your mobile device.

MT4 is especially helpful for new traders wanting to learn; its strong community provides users with access to a free library of software and articles. Furthermore, a communication feature allows brokers and traders to post messages and communicate in real time.

Limitation: Forex only

When considering the professionalism of MT4, traders and brokers alike should take note that it is a forex trading platform. Therefore, other markets, such as commodities or indices cannot be viewed. This could be considered an advantage or disadvantage depending on what you are looking to trade. MT4’s focus on the Forex market exposes itself to a limitation of being a Forex only trading platform. 

Above all, MetaTrader 4 is a quality platform that appeals to all traders. Because of it’s worldwide use and compatibility any trader not using MT4 will find themselves at a disadvantage in the Forex market. MT4 excels at the fundamentals, other platforms may be more sophisticated or visually aesthetic, but none are more reliable. 

How can I trade using MT4?

Moneta Markets is an award winning, reliable broker based in Australia. It is governed by the AISC and provides its clients with an online and / or mobile MT4 trading account. In addition to the MT4 offering, Moneta Markets is an ECN broker, which means its provides its clients with top rate execution speed and some of the best spreads in the industry.