There is a huge variety to choose from different trading systems. The instantly increased popularity raised the number of helpful platforms which are suitable and comfortable for every trader no matter the experience or trading skills. Even though there are different suggestions with diverse exclusive offers and impressive bonuses, MT4 and MT5 are the most popular platforms in the FX trading industry.
The main reason for it can be considered the long experience of operating on the market. In recent years more and more platforms are opening new perspectives for traders but these mentioned two pages are still on the top of the FX popularity.
If you get interested in why? The answer is very simple. They are safe and have a great reputation. These are the two most important indicators in choosing the right web page for financial trading. In this article, we will outline the features and possibilities of MT4, which remains the most popular platform for Forex traders, even though there are improved alternatives from different web pages.
This article will help you to avoid the confusion connected to choosing the best and the most comfortable platform for your Forex trading experience. We will show you a clear picture of MT4 and compare it with different platforms. This will easily answer the question, of why it remains the leading platform for FX traders.
What Is MetaTrader 4?
Since 2005, MT4 has been operating on the FX markets as one of the most helpful trading platforms for the Forex industry. It was developed by MetaQuotes. But remember, this is not only for Forex, but also for different cryptocurrencies, commodities, or indices. Mostly it is oriented to Forex trading with its structure as well as offers. Because of the great popularity, you can find a enormous information about MT4, where one of them is FXChoise MT4, which outlines the main opportunities you can get from this web page.
The main specialty of MT4 is that it provides maximum customization of trading preferences. It makes the platform easy to use for new traders who have less practical skills as well as experience in global FX. Effective algorithms and amazing opportunities for market analysis make the process more enjoyable and easy to manage.
The main reason why most of the FX traders use MT4 even though the old-fashioned structure is the simple charts. As they say, the analytical diagrams are so simple the kids can get the information easily too. They are maximally customized to your needs and resources. The platform is completely user-oriented. They also plug EAs into the platform algorithm, which makes trade analysis as well as opportunities easier to understand.
Before you start using the mentioned platform, you need to know that before using MT4 you need to download it on your computer or mobile device. You can not access it as an online platform. Installation is required. On the other hand, the level and quality of different device accessibility are high. No matter whether you use a smartphone or PC, you will get a high-quality, structured and effective market analysis for your FX trading.
Why MT4 Is the Most Popular Among FX Traders?
As we mentioned earlier, MT4 was released about ten years ago. There was a released improved version MT5, which is a great platform for FX as well as other types of stock traders. It is special with more diverse order types, better market analysis, and more trading opportunities.
Different from MetaTrader 4, it offers 6 types of pending orders and has better graphical charts and objects. Also, suggest an increased number of timeframes and technical indicators. Also, it has an option of an economic calendar and suggests better analysis and depth of the financial market.
On the other hand, it includes the MQL5 community and has a better strategy tester feature, which is multi-threaded and includes different risk management strategies for each accessible currency. Even though MT5 is technically better compared to MT4, the older version still is the most popular among traders.
The key to permanent popularity is the focus on the FX industry. As said, MT5 is not oriented only on the Forex market, but also includes the market analysis for different stocks and commodities. MT4 is only oriented on the Forex market, so it creates a single and detailed financial space that does not confuse traders. It is more user-friendly because it is easy to use.
If you decide to start using MT5, you need to have quite a long experience in trading, and financial skills are a must. If you are new to the FX market, MT4 suggests the most comfortable and simple trading analysis, which is also multi-lingual. Well, simple descriptive analysis and tools make it easier to catch trends. Also, on MT4 you can get expert advice and create a maximally detailed portfolio which is essential for effective trading.
95% of FX brokers recommend starting trading by using MT4 because it will provide everything you need to have for a profitable Forex experience. That is why this platform is still the most popular in the industry.