MetaTrader 4 or MT4 Forex Trading Platform Review
MetaTrader 4 or MT4 is a trading platform developed by MetaQuotes Software for online trading in the Forex, CFD and futures markets. MT4, as it is commonly known, can be downloaded at no charge through dozens of online Forex brokers list on www.TopForexBrokers.com.
| Broker | Min Account Size | Leverage | Spread | US Traders | Review | Open Account |
|---|---|---|---|---|---|---|
| $1000 | EUR/USD: 0.6 | Review | Free AccountDemo |
MT4 provides tools and resources that allow traders to analyze price, place and manage trades, and employ automated trading techniques.
This advanced tutorial will introduce MT4’s automated trading, strategy testing and optimization features.
Meta Trader 4 Software is the best Forex simulator trading used till date for Forex Trading.
The user interface of this simulated Forex trading is very familiar and easy to understand by the beginners also.
The menus and toolbar of this Forex Trading Platform makes the task as few clicks.
The menus provided in this online Forex trading platform are as listed below.
Please note there are several Forex trading platforms you can use as your Forex trading station but currently MT4 is the best one.
MT4 or MetaTrader 4 Mobile Trading App
Smartphones and tablets are indispensable in fx trading when you are away from your computer.
You can use the mobile versions of MetaTrader 4 on your iPhone/iPad and Android devices to trade in the financial markets.
You will certainly appreciate the functionality of the MT4 mobile trading platforms that include the full support for the trading functions, broad analytical capabilities with technical indicators and other graphical objects.
Of course, all these features are available from anywhere in the world 24 hours a day.
MetaTrader 4 ( MT4 ) Download
Trading currencies by MetaTrader 4 or MT4 platform is completely free of charge for Traders,
You can trade in real or demo accounts by MetaTrader 4 Forex trading platform but to download MetaTrader 4 platform
Ffirst you need to choose a Forex broker and sign up with them then Download MetaTrader 4 and start your demo or real Forex trading.
To choose your Forex broker and download your MT4 platform go to homepage of www.topforexbrokers.com choose your MetaTrader 4 Brokers and sign up with them then download MetaTrader 4 free.
MetaTrader 4 Tutorial
• File
• View
• Insert
• Charts
• Tools
• Window
• Help
File : In this menu in MetaTrader 4 trading platform, you can login, open an account, open new charts to work with, manage profiles, collect data and charts, save history data in CSV and HTML format.
This menu also has “print preview” and “print” option so that charts can be printed and print preview can be send before the print command is send. With the login command of this menu, you can login to your trade account and start trading.
The command named “Open an account” allows creating a demo account if you are only a guest user.
Demo accounts do not need any deposit. These accounts are helpful in learning trading techniques.
View : The commands included in the view menu are data window, Marketwatch, language, toolbar, status bar, charts bar and full screen mode.
With the data window, you can see the price and information about indicators.
Status bar is present in the lower portion of the Metatrader 4 software and is used to enable to disable the status bar.
The command named “charts bar” opens the charts in the workspace quickly.
Marketwatch is also termed as signal window and is used to display the current quotes.
Languages option helps to switch to the language of any country you want.
You can set the language of your country with just one click but to display everything in your preferred language the software needs to be restarted.
Insert : This menu in MT4 platform has the collection of commands such as technical indicators, line studies, channels, Fibonacci, shapes and arrows.
Andrew’s Pitchfork, Cycle lines, text and text label are located in the last of the Insert Menu.
Shapes allow selecting any area in the chart. Shapes are geometrical figures such as triangle, rectangle and ellipse.
Arrows are symbols such as check symbols, price symbols and stop symbols that allow selecting important points in a chart.
Text command is used to add comments on the chart and the command named “text label” is used to add comments on the window coordinates.
Text label do not move if the chart scrolls. Technical Indicators in MT4 Forex platform such as Accelerator Oscillator, Alligator etc are grouped in the “Indicators” sub menu.
Chart : This menu in MT4 platform includes the commands such as Indicators list, bar chart, candlesticks, line chart, foreground chart, periodicity etc. Indicators list show the list of indicators.
You can change the settings of any indicator by selecting it or you can also delete it from the list.
Bar chart show the sequence of bars, candlesticks display the sequence of candlesticks and in the line chart, broken line is used to represent close prices. With the periodicity command of the Chart menu, you can select the time frame.
Tools : Tools menu in MT4 Forex platform is used for setting your terminal according to your requirements.
The commands in this menu are New Order, History Center, Global Variables, Metaquotes language editor and Options.
New Order button is used to place new orders. New orders could be market orders or pending orders.
History center shows the history data in MT4 trading platform. This command is used to edit the quotes used building charts. The shortcut key to “History Center” is F2 button.
Global variables are used when information is needed to be exchanged. Global variables window can be accessed from the Tools menu.
You can add a global variable, delete or rename existing global variables through the “Global Variables” window.
Double click the left mouse button in the corresponding cell to change the value or name of any global variable.
Window : Commands of Window menu in MT4 platform are not too important in trading and include only Cascade, Tile Horizontally, Tile Vertically and Arrange Icons.
The command named “Tile Horizontally” is used to arrange the charts horizontally and “Tile Vertically” is used to arrange the charts vertically.
Help : This menu in MetaTrader 4 is used to help the users to learn this trading software. This menu has only 2 commands: Help Topics and About.
The command “Help Topics” contain the full user guide for the users and “About” command tells about the company and its contact details.
MT 4 ( MetaTrader 4 ) Trading Orders
To Buy or Sell currencies in MT4 trading platform or to set pending orders like buy limit, buy stop, sell limit, sell stop simply click on New Order from the top menu and buy or sell the currency pair you want.
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