MT4
MT4 platform explained by professional forex trading experts topforexbrokers.com, All you need to know about MetaTrader 4 platform download.
What is MT4 platform
MetaTrader 4, also known as MT4, is an electronic trading platform widely used by online retail foreign exchange speculative traders. It was developed by MetaQuotes Software and released in 2005. The software is licensed to foreign exchange brokers who provide the software to their clients. The software consists of both a client and server component. The server component is run by the broker and the client software is provided to the broker’s customers, who use it to see live streaming prices and charts, to place orders, and to manage their accounts.
The client is a Microsoft Windows-based application that became popular mainly due to the ability for end users to write their own trading scripts and robots that could automate trading. In 2010, MetaQuotes released a successor, MetaTrader 5. However, uptake was slow and as of April 2013 most brokers still used MT4. While there is no official MetaTrader 4 version available for Mac OS, some brokers provide their own custom developed MT4 variants for Mac OS.
What are MT4 forex trading brokers ?
etoro
eToro is a reasonably novel but fast-growing brokerage firm with overhead 5,000,000 traders in over 140 Countries. Unlike the enormous mainstream of brokers. You can trade Cryptos, Currencies, Stocks and Commodities with this broker.
Plus500
Plus500 was established in 2008 as an online international trading platform that is popularly used in Asia, Europe and Australia and elsewhere in the world. In the United Kingdom (UK), the company operates under the name Plus500 UK Ltd and is regulated by the Financial Conduct Authority of the UK (FCA).
IG
IG Broker is also based in the UK and is a leading spread betting brokerage firm overseen and regulated by the Financial Conduct Authority (FCA), which oversees all brokerage firms and brokers in the UK.
FxPro
London based FxPro was founded in 2006 and is an online brokerage firm offering trading accounts for Stocks trading, Spread betting, foreign currency exchanges, as well as accounts for trading CFD’s.
Capital.com
Capital.com is a global online brokerage firm that offers trading services across various asset classes, including forex, commodities, indices, and cryptocurrencies. It’s located in Cyprus.
Pepperstone
Pepperstone broker is founded in Australia, Melbourne and has offices in USA, Dallas and China, Shanghai.
IC Markets
IC Markets is an Australian forex broker, The ICMarkets constitutes one of the biggest online retail foreign exchange brokers in Australia.
FP Markets
FP Markets (First Prudential Markets) is an Australian-based online broker founded in 2005. It is regulated by ASIC.
Forex.com
Forex.com UK was established in 1999 and is regulated by the UK’s Financial Conduct Authority (FCA).
Interactive Brokers
Interactive Brokers Group Inc is a true online ECN brokerage, You can trade bonds, stocks, Forex, optionsand futures in bulk orders with this broker. The broker headquarter is at Greenwich, Connecticut of United States.
Oanda
Since the mid-1990s, OANDA is one of the primary innovators of online Forex brokers. The company is assumed to be founded by Dr. Richard Olsen and Dr Michael Stumm. Whereas in 2001 the online trading platform Fxtrade was launched, it was the 1st completely automatic forex trading platform, You can trade CFDs, Stocks, Currencies and commodities with this broker.
Swissquote Bank
Swissquote Group Holding SA is a Swiss banking group specializing in the provision of online financial and trading services.
Saxo Bank
Saxo Bank is a Danish investment bank. It was founded as a brokerage firm in 1992. SaxoBank is one of the best online stock broker in the world.
MT4 Tutorial
MetaTrader provide two types of trading orders, Pending Orders and Market Orders. Pending orders will be executed only when the price reaches a predefined level, whereas Market orders can be executed in one of the four modes: Instant execution, Request execution, Market execution, and Exchange execution. With Instant execution, the order will be executed at the price displayed in the platform. Its advantage is that the order will be executed at a known price. However, a good trading opportunity can be missed when the volatility is high and the requested price cannot be served. Request execution mode enables trader to execute a Market order in two steps — first, a price quote is requested, then, a trader decides whether to buy or sell using the received price. A trader has several seconds to decide if the received price is worth trading. Such mode offers a certain knowledge of price combined with guaranteed execution at that price. The tradeoff is the reduced speed of execution, which can take a lot longer than other modes. With Market execution, the orders will be executed with broker’s price even if it is different from that displayed in the platform. The advantage of this mode is that it allows trading without any sort of requotes. However, deviation can get considerable during volatile price changes. In Exchange execution mode, the order is processed by the external execution facility (the exchange). The trade is executed according to the current depth of market.
MT4 Components
The complete MT4 package includes the following components:
- MT4 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.
- MT4 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.
- MT4 Server – the core of the system, the server part. Designed to handle user requests to perform trade operations, display and execution of warrants. Also, sends price quotes and news broadcasts, records and maintains archives. Works as a service. Does not have a separate interface.
- MT4 Administrator – is designed to remotely manage the server settings.
- MT4 Manager – designed to handle trade inquiries and manage customer accounts.
- MT4 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.
MT4 Review Conclusion
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