The MetaTrader 4 forex trading software is one of the most popular trading platforms used by foreign exchange retail speculators online. It was developed by MetaQuotes Software and was first released in 2005. The software is licensed to foreign exchange brokers, who in turn provide it to their clients. The software is widely used by foreign exchange brokers and online retail traders alike.
The platform allows users to place orders on the market instantly. The ‘Order window’ allows users to open trades by entering their desired trade size in the ‘Volume’ box and selecting the ‘Market Execution’ option. This option will allow them to instantly place an order within the MetaTrader 4 platform. The screenshot below shows a typical order window for a trade in the EUR/USD currency pair.
MetaTrader 4 also allows users to save their chart style and configuration. They can also change their colours according to their preferences. The chart style and colour can be customized by clicking on the ‘Properties’ menu. Once you have made the settings, you can save the work and open it at a later date.
MetaTrader 4 is a complete trading platform, offering many tools for novice and experienced traders. Beginners should be able to navigate its interface with ease. There is no live customer support available for MetaTrader 4, but educational resources and tutorials should help you get up to speed quickly. For a demo account, you can try the software before you open a live account.
You can also use MetaTrader 4 to automate your trading. The built-in Market offers hundreds of indicators and Expert Advisors. These can be purchased from the MetaTrader platform without leaving the platform. The software also has a library of financial books and magazines for you to read and learn. It is an excellent way to get up-to-date on the latest economic news.
You can also close your positions manually in MetaTrader 4. The close button allows you to manually close your trades or set a stop loss and limit order. You can also subscribe to signals and set up price alerts, as well as customize them. It also allows you to monitor your account history. The software is designed to help you manage your account and make informed trading decisions.
MetaTrader 4 allows you to access global financial markets without leaving your home. It offers a number of features and options to novice traders and allows you to invest as little as $100. It also allows you to use leverage, which allows you to control larger positions with less capital. This can increase your profits, but it also increases your risk. Most brokers will require a minimum deposit, so you should always consult a broker before using leverage.
While trading platforms can be difficult to use, MetaTrader 4 offers an intuitive interface and a wealth of trading tools and features. The trading platform comes with 30 built-in indicators, but you can also download and install more than three thousand paid indicators. The platform is available in 30 languages and has multilingual technical support. In addition, the website provides free support articles and a dedicated MQL4 language support site. The platform is also customizable, which means you can make your trading strategies as unique as you want them to be.