MetaTrader 4 which is also known as MT4, is one of the world’s most popular and most used electronic trading platforms that is hosted by a large number of online foreign exchange brokers. The platform contains both a client and a server component, the server component is run by the providing broker which the client version is provided to and run by the customers.
MT4 is a Microsoft Windows-based application that was released back in 2004 by the MetaQuotes Software company and first became popular due to its ability to allow its users to create their own trading scripts, algorithms, and robots in order to automatically trade for them. There is now a more recent product called MetaTrader 5, but the popularity of MetaTrader 4 still continues.
MetaTrader 4 Features
MetaTrader 4 comes with a huge array of different features that should enable it to suit your own style of trading.
Mobile Trading: If you are someone that is always on the move then the mobile solution from MetaQuotes is perfect for you. Downloadable as an application to both Android and iOS devices (iPhone, iPad), the application can be accessed from anywhere in the world. The functionality that is offered by the mobile version of the platform includes interactive quote charts, a full set of trading order types, similar to the desktop version, you are able to monitor the status of your account, track the history of trades, as well as buy and sell instruments in a single click, it also comes with push notifications.
Automated Trading: The MT4 platform offers a host of features that allow you to trade automatically, these are mostly performed by Expert Advisors that use technical indicators to look a the markets and will then enter and exit the markets based on the set parameters. The MetaEditor which is built into the software allows you to design and develop your own trading robots as well as test their compilation and performance.
Web Trading: Don’t want to download the desktop platform or a mobile app? No problem, you can simply use the online WebTrader that is offered by many MetaTrader 4 compatible brokers. You can load it up within your compatible web browser (any modern one will work) and then trade on your live or demo account. There are some limitations such as the number of indicators and you cannot use automated trading with it, but it is a good tool to check your accounts and trades should you be away from your usual setting.
MetaTrader Market: MetaTrader 4 comes with both a built-in and a web-based marketplace full of expert advisors, indicators and signals available to easy purchase and installation. The market currently provides a wide selection of trading applications, over 3,000 trading robots, and 4,000 indicators, both free and paid products, the ability to both purchase or rent the applications, secure purchases, and a wide range of payment options. The applications can be purchased outright or they can be rented for a shorter period of time giving you maximum flexibility.
Trading Signals: The MetaTrader 4 marketplace is full of signals that you can copy, offering an inbuilt marketplace, you can browse the available signals from within the trading platform itself. Take a look at their statistics and then decide whether to follow the signal, there are both free and monthly rental signals available to subscribe to.
Indicators: MetaTrader 4 has been designed to work with many different indicators and there are new ones appearing every single day. The marketplace offers over 4,000 indicators that you can purchase, rent, or download for the platform. Technical indicators that incorporate things like Fibonacci Levels, RSI, Bollinger Bands, Moving Averages and more are available, whatever you are looking for, it should be available to download.
The MetaTrader 4 platform comes with a number of technical components that perform different tasks.
MetaTrader 4 Client Terminal – the client part. Provided free by brokerages for real-time online trading and as Demo (practice trading) accounts. This provides trade operations, charts, and technical analysis in real-time. The internal C-like programming language allows users to program trading strategies, indicators, and signals. 50 basic indicators are included, each of which can be further customized. The software runs on Windows 98/2000/XP/Vista/7. Some users have reported success using Wine on Linux for the client terminal and on Mac using WineBottler
MetaTrader 4 Mobile – controls a trading account via mobile devices such as mobile phones or PDAs. Runs on Windows Pocket PC 2002/Mobile 2003, iOS, and Android
MetaTrader 4 Server – the core of the system, the server part. Designed to handle user requests to perform trade operations, display, and execution of warrants. Also, it sends price quotes and news broadcasts, records, and maintains archives. Works as a service. It does not have a separate interface.
MetaTrader 4 Administrator – is designed to remotely manage the server settings.
MetaTrader 4 Manager – designed to handle trade inquiries and manage customer accounts.
MetaTrader 4 Data Center – a specialized proxy server and can be an intermediary between the server and client terminals. It reduces the price quote sending load on the main server.