Knowledge and expertise are the two basic things that are required during trading in the foreign exchange market or the forex market. Foreign exchange market, the largest online currency trading platform in the world, enables the trader to earn money within a short period of time. Most traders trade there in order to earn some more money without knowing the basics of it. As a result, 90%of them face a great loss.
Success in the forex trading is not at all easy because of its complex system. Before trading in the forex market to earn money, the traders have to follow an effective strategy. The very first thing they should include in their strategy is an appropriate trading platform. There are many platforms available in the market. Some of them are-- cTrader, MetaTrader 4, MetaTrader 5 etc. Among them MetaTrader 5 is the most popular as well as user-friendly platform. In fact this trading platform is offered by most brokers. It has also been seen that the brokers who earlier didn’t offer this platform, had to offer it later because of clients’ demand. Though earlier, this platform was just a charting package, but now it has been developed to a great extent by adding latest features. Some of the latest features of MetaTrader 4 or MT4 are discussed here by an expert of CornerTrader. Read on to know them.
One of the greatest reasons behind the huge popularity of this trading platform is its user friendliness. The interface of MT4 is easily accessible, and all the right stuffs are at their right positions. The chart which occupies the largest part of this platform is at the centre of MT4. Another reason of its user-friendliness is the fact that the indicators are at the top of this platform, as one needs to use this section the most. On the top left, there is a market watch box, and below the market watch box there is a navigator. At the bottom of the platform, there is a terminal that contains more than ten sections (exposure, expert, alerts, forex signals, mailbox, journal, code base etc.).
Multiple accounts are accessible:
This is a very big deal for some forex traders to trade in more than one account on a platform. Also, MetaTrader 4 demo account enables you to try different strategies without losing real money. Demo trading account also helps you to know how the really account actually works. If your trading platform does not allow you to trade in multiple accounts, then you need to log out from one account and restart your system to login into a new account. This takes a lot of time and during this time you may lose a great opportunity.
There is a wide range of indicators available on this platform at absolutely free of cost. Since MetaTrader 4 is one of the oldest platforms, there are a number of built in indicators which even have increased over the time. Some of the indicators that include in this platform are RSI, Ichimoku, Stochaistic, Trendline and many more.
MetaTrader 4, developed by MetaQuotes Software in the year 2000, is the first major trading platform. Since then the platform is popularly used in the foreign exchange market.
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