MetaTrader 4 is a Forex trading platform with multiple analytical patterns. If you are just a beginner, then knowing such a tool and its capability is a must. In this article we will explain how to use it, why you should choose MT4 and the difference between MT5 and MT4 Download MetaTrader 4 and learn it by yourself, if you wish.
Where you can use MT4
This platform is highly popular among traders because people can apply customized approaches to any feature of MT4. Here are some features that this platform offers you:
- MetaTrader 4 can also be applied to automotive trading. Set certain options and the algorithm can close and open trades on your behalf.
- The MT4 app can be used on any device: Android, iPhone/iPad or Web. For each option there is a separate app which you can download from the website.
- A total of 50 technical indicators and 24 graphic objects are available for monitoring price dynamics in the app.
- The most suitable time for trading will be when you combine those tools, determine the current trends, and decide entry and exit points.
- There are three trading execution modes on the platform: instant, request and market. In the first case you offer the price to the broker, in the second option the price of the order is determined by the broker. In the third scenario, the order execution price is set without any discussion with the trader.
But what is the difference between MT4 and MT5?
MetaTrader 4 is more designed for CDF Forex instruments, while MetaTrader 5 is able to manage centralized and non-centralized financial markets, such as stocks, futures and Forex. The MT4 is considered to be a bit slower, since it is a 32-bit platform, while MT5 is 64-bit. Some traders and brokers prefer MT4 for its simplicity. However, if you don’t need such speed and multifunctionality for trading, and want to focus more on Forex, then you may want to choose MetaTrader 4.
How to download and use MT4?
In the given link from the above you can find the download buttons for different devices. But first, to open an account you should first create a FBS profile. If you just want to try the platform – feel free to use a demo version. The application process is quite simple. After typing your name and email you will enter the personal cabinet with a temporary password. Change it in the settings and click on the button below to complete registration. There you can pick which account you want to create. There are two options: real or demo. Then change the settings to your needs, such as currency or leverage. Then type your account number, trading password and MT4 server to connect
Be sure that you choose a trustworthy online Forex Broker. Before making a decision, you should do some research. Review the comments and reviews, and check for any scandals surrounding the company. You may end up wasting even more time if you don’t do the research before choosing FBS. It is an award-winning broker with more than 60 worldwide recognitions and 17 000 000 clients. You can read about the company here and decide whether it is worthy of your attention. If you have questions, feel free to ask their 24/7 technical support or write an email. There you can also find some free educational material – seminars, special events, so on. There is always an opportunity to learn more about trading and become more successful.