If brokers are bodies, then platforms are spirits living in them. Financial trading or transactions for various products take place through the combination of both. If these entities work in tandem, then they script profits for a trader. MetaTrader4 is one platform that fulfils all criteria required by an investor or a market player. It is also called MT4. To know more, read the MetaTrader4 review.
MetaTrader4 has plenty of duties to mend and offers numerous features for the benefit of its subscribers. Today, hundreds and thousands of brokers and traders are using its services to get into excellent trading books.
MetaTrader4 Review: Usage and Trading System
The MetaTrader4 platform paves a way to implement or execute easy to complex trading strategies in the market. You can put up distinct orders, different markets, products, stop and pending orders through MT4. Besides, irrespective of the market condition or situation, one can use a trailing stop.
MetaTrader4 Review: Types of Execution Modes
You will find three types of execution modes while trading through MT4. They are primarily requested, instant and market. MetaTrader4 handles all sorts of execution and orders which translate into profits for traders. You can pick any of the modes supplying appropriate. Before performing a trade, you can pick your bid and execute the order later on.
You can perform your trades freely as the desired price comes up. Meanwhile, if you want to take a position in the market irrespective of time, different types of modes are useful.
In this type of mode, the market order’s execution happens with the rate received previously from the broker. For different or specific market orders, a broker is requested before sending an order for the final execution. Once the prices arrive, the implementation of the order can be accepted or rejected.
Here, the order gets executed at the rate offered to the broker. The current rate is set by the terminal in the order, once it is sent for execution in the market. However, it depends solely on the broker’s choice and needs. If it accepts, then the order gets executed, or it does not. In the latter case, a requote option occurs.
Execution by Market:
In this kind of execution mode, the broker does not discuss anything with anyone. There’s no additional communication with a trader. It decides when and what product to execute at a specific price. Also, ordering orders in such modes would mean advanced consent from an investor for the execution at a given price.
MetaTrader4 Review: Trading order types
An order is a direction to a broker using which it has to put up with entries and exits in the financial market. There are several conditions depending on them the orders get executed. On MT4, stop pending and market orders. Here are some inherited by MetaTrader4:-
- two stop orders
- two market orders
- Trailing stop
- three execution modes
- four pending orders
The feature offered by MT4 helps in capitalising on profits and lessening the potential perils of losses. A trader or investors can apply it when the market is not in full control and goes volatile. In that time, one needs to be resilient and mindful before going for the final trade. You can utilise it in pending orders or new positions.
If you feel like applying it beforehand, then MT4 can help you do that with its multiple features to form a strategy and ward off any untoward loss.
For example, one can use a buy limit order, after it reaches the specific threshold, your position would get closed. It helps in profit-booking.
In any case, your predictions take a wrong turn, and your investments slip into losses, then stop-losses salvage them.
For illustration, if you set a benchmark of 50 points high and low, then if prices go beyond those limits, the position would get exited automatically.
The superb facility of stop orders is suitable for those traders who cannot concentrate on the market at all times. They can simply put the stop-loss and then forget or start doing their other work.
If you wish to execute your orders instantly, then market orders are your sailing point. It saves time, and you can benefit from the market movement or trend using the services of MT4.
You create these orders at the current time or moment, but they get executed in the future as the market conditions are conducive for people.
It moves stop-loss automatically a few distances away from the current rate. However, if the prices of assets take a reverse gear, then the stop-loss would try to minimise the loss.
Application of orders
You have several ways of applying numerous orders depending on the market situation or condition. A trader can use hotkeys, market watch or can enable one-click trading for using the chart.
An investor can avail of all comprehensive information and knowledge regarding open positions and all orders on the trade window terminal.
It will ease several issues, and a market player can track all orders, positions, assets, state of the account, volumes, open prices, stop orders etc. You can check the detailed history and trades of the past through the window and learn before moving on.
The robust, resilient and powerful MetaTrader4 platform renders you the complete control of the transaction and put your bids in the market. You manoeuvre your account and twist it in favour whenever required.
So, by choosing MT4, you ensure that you can take advantage of all kinds of market conditions; favourable or unfavourable. You can get the assistance of various elements available on the MetaTrader4 platform.
Help offered by the MT4 platform
While trading, you may face multiple issues and problems, but it offers tremendous help to its users.
There are myriad input parameters that facilitate order openings, and ensure that you do not get stuck during complicated trading operations.
The option helps in defining the value of the symbol in the order window effortlessly, or automatically. It happens during the performance of a trading operation. The active chart symbol sets in this field. You have to enable the default symbol to be able to use it again for every trade. A trader has to select it from the list.
You can define lots in a default option mode as the previous symbol. For the ‘previous operation’, the last used term is used for the purpose. By default is the value in lots which comes pre-defined.
Here, a symbol can alter the price during the ordering time. The positions won’t open due to the prepared order won’t correspond to the market’s will. However, the deviation option would put its might behind and won’t let that happen. The maximum permissible value gets specified here (in the order).
Moreover, if the prices fail to correspond, then the program would modify automatically. Also, it paves a path to open a new position.
Before availing of the facility of one-click trading, you’ll have to read and accept the terms of conditions of MT4.
- A new order window gets invoked when you use the default mode of one-click trading.
- You can use it for order submission, (buy or sell).
- Once you click here, then there’s no way you can alter your trades. Hence, one has to be careful.
- It is a quick and time-saving opportunity to use a one-click trading option.
- A trader has to indemnify before using the perks of the feature.
- With a single mouse click, you get your job done.
- Trade levels, quick trading cart, and trading labs are there which magnify.
Expert Advisors option
The option has the capacity to disable or enable the operations of trading directed by expert advisors. If you keep them enabled then scripts, and expert advisors would work and vice-versa. However, you can work in a disabled state, but won’t be able to trade in that condition.
For testing the capacity of analytical, it is quite handy and useful for a newbie trader. It can take place in real-time mode.
The mobile application variant of the MT4 is quite exquisite and broadens the market for financial market traders. You can choose Android or iOS powered tablets, smartphones or other devices and operate your trades unabashedly, 24/7 hours with a swift internet connection.
The functionality facilitated on the application versions include popular analytical tools, houses all features of desktop, multiple sets of trading orders, interactive quote charts etc.
In a single click, you have the power to monitor all your trades, see the history and transact financial instruments at various costs. The convenient chat and push notifications are some of the best add-ons that you receive as complimentary from the MetaTrader4 platform.
Offering Forex Trading Applications
- You can avail of 2 100+ technical indicators.
- There are 1 700+ trading robots.
- Receive free and commercial products
- Amazing amounts of payment options
- Get demo versions of all programs.
- A wide range of options to select
- Secured purchases
Automated Trading Options
Here are some exquisite features:-
- MQL4 Community
- Indicators and Expert Advisors
- Strategy Tester
- Robot Indicator
- MQL4 Programming
MetaTrader4 Review: Conclusion
MetaTrader4 is ahead of its time and a platform that facilitates laypersons and beginner traders who want to make it big in the financial trading market. It supports almost all products and instruments including indices, cryptocurrencies, ETF, CFDs, forex, stocks, commodities and many more.
Brokers like Global Trade ATF, ROinvesting, ETFinance, 101investing and many others have been using its MetaTrader4 platform successfully and inviting rewards for all traders and investors. MetaTrader4 Review is useful in knowing about it.