The MetaTrader 4 platform is one of the popular trading platforms globally. Millions of forex traders use this platform for extensive features. MetaTrader 4 was developed by MetaQuotes Software Corp as a multi-asset trading platform. A person can trade in forex, commodities, stocks, CFDs, as well as indices. For many years now, forex brokers in South Africa have been offering MT4 to their clients as a great alternative to their proprietary trading platforms. Along with this meta trader 4 provides advanced analytical capabilities and automated trading functions. The entire system has a user-friendly interface in order to provides ample opportunities to traders of all skill. Here are some of the major benefits regarding to MetaTrader 4. Visit here for more detail; roboforex.com.
· Real-Time Access to Market Prices
There is a great need to know that MT4 allow the traders to access forex quotes in real-time as well as execute trades. The currencies with securities that a trader chooses to trade through a broker are listed. It also allows the traders to view all other details like spread, margin currency margin percentage, and contract size from this window. Also, check out the stock screener for a better understanding of the stock market.
Moreover, MetaTrader 4 gives an idea regarding market sentiment. It means that, if the information reveals that bid side liquidity is more than the offer side liquidity, the trend can be considered bullish. There are higher chances of orders being filled at the current prices and it could be crucial for short-term trading strategies such as scalping.
· Technical and Fundamental Analysis Tools
With a large number of in-built technical indicators, MT4 offers extensive tools for price analysis. There are more than 30 in-built technical indicators on this platform. It allows the trader to view unlimited charts at one time. Each currency pair can be displayed on none varioys timeframes from one-minute to monthly intervals.
However, the traders can forecast price movements to define entry and exit points and set stop-loss levels from the charts. The traders have also the great option to customize access to data relevant to a particular market.
· Multiple Trading Orders
There are various types of trading order that allow the traders to create and implement the strategy of their choice. MetaTrader 4 allows two market orders with four types of pending orders. Along with this, there are three major types of trade execution modes offer traders a high degree of flexibility.
Risk management strategies are considered essential to forex trading success. In terms of MT4, there are two types of stop orders, take profit order and trailing stops. A stop-loss order closes a position automatically when the market moves in the opposite direction to the forecast. However, take-profit allows the trader to lock-in a desired level of gains when price touches the pre-defined level.
· Robust Security and High Stability
MT4 is considered as a highly secure and stable platform. There is a great need to know that data exchange between client terminals and servers is significantly protected through a 129-bit key. Along with this, the platform also supports RSA digital signatures. All these surprising features allow the traders to perform monetary transactions in a secure environment. You can also check the guide if you are looking for 5g penny stocks to buy.