If you are already a trader you surely know what is MetaTrader 4, if you are new to trading you will find the answer here. MetaTrader 4 (Also called in short MT4) is one of the most popular trading platforms in the world, in other words MetaTrader is a software that allows you to trade online, and it is FREE!
MetaTrader 4 is a very powerful platform as it enhances the trading experience with additional components, it is in fact possible to trade from a mobile device, run Automated Trading through Expert Advisors, run Scripts, see Custom Indicators, subscribe to Trading Signals and extend the functionalities with components from the Market. If all of this doesn’t make sense, don’t worry, it will later in the reading.
It is important to understand that MetaTrader 4 is a complete trading platform, it includes all the necessary instruments to trade online.
Depending on the broker that you use you can trade online:
- Stocks (Google, Apple, Microsoft, and so forth)
- Indexes (S&P and similar)
- Foreign currencies (forex, EUR, USD, GBP and so on)
- Commodities (Gold, Silver, Oil to mention some)
MetaTrader 4 allows you to see current prices and also to download free historical data. You can open charts in different time frames to have a better understanding of the trend of the market, you can add indicatoris to perform technical analysis.
With MetaTrader 4 you can subscribe to Trading Signals, so that you will follow and, if you want, trade what other traders are trading. We will see this better in other articles.
One of the most powerful feature of MetaTrader 4 is its ability to be customised to your needs, through the MQL language you can in fact create scripts which perform specific actions, custom indicators if the existing ones are not what you look for, create Expert Advisors to perform automatic tasks, even trade automatically without the need of your supervision, you can do this with MetaEditor.
MetaTrader was first developed around year 2002 by MetaQuotes Software and there are two major versions: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Although not the most recent, MetaTrader 4 still holds a wide popularity between brokers and traders, and over the years developers from all over the world have created a huge amount of free and commercial components to make it more powerful.
MetaTrader 4 is available for all the most popular operating systems, you can find it for:
However, be advised that MetaTrader is not native for Mac and Linux hence if you want to run it on those operating systems you will need to apply some work around and additional software.
MetaTrader has several components, as a trader you shouldn’t be concerned of knowing all of them in detail, however it is beneficial to know what they are and their function. It may result a bit technical and in case of doubt I invite you to leave a comment below.
- Client Terminal, is the software used by the traders to see the prices and submit the orders
- Mobile App, is an App specifically for mobile devices such as smart phones and tablets
- Server, is the software running in the back end, usually by the broker, it processes the prices and orders and logs all the activities
- Administrator, component to manage the Server
- Manager, to manage the accounts of the customers
- Data Center, it is like a proxy, a man in the middle, to facilitate the operations between the Server and the Clients
As mentioned before as a trader you don’t need to know all of the components, you will be only using the Mobile App and Client Terminal.
At this point you should have a good idea of what is MetaTrader 4 trading platform. This software is very popular thanks to its usability and extended feature, my suggestion is to try it, read the article How to Install MetaTrader 4 Client Terminal to get started and the continue with How to Open a MetaTrader Demo Account.
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