
Searching high and low for the best forex trading app? MetaTrader 4 (MT4) could be the solution you’ve been waiting for. With thousands of add-on market indicators and trading robots to install, this platform is widely used by professional and amateur forex traders alike. In this MetaTrader 4 review, we’ll explain why MT4 is a great way to trade on forex, futures, CFD, and plenty of other markets. While the MetaTrader 4 software can be used in demo mode for free, live accounts require you to go through a licensed third-party broker.
About Metatrader 4
OUR VERDICT
For forex trading, there’s no better service than MetaTrader 4. Thanks to an active development community, you can customize your MetaTrader 4 interface with a huge range of charts and harness automated trading robots to take your portfolio to the next level.
If you’re after a forex trading app to help you to grow as a trader, look no further than MT4. This platform doesn’t just have the best analytical tools on the market, it also works with thousands of brokers and offers great tools for first-time traders, such as demo accounts and copy trading. The only downside of the program worth mentioning is that its execution speed isn’t as fast we’d like, making MT4 a poor choice for high-frequency traders.
The closest competitor to MetaTrader 4 is the latest trading system released by MetaQuotes, MetaTrader 5. MT4 is tailored to forex traders while MetaTrader 5 was created with CFD, futures, and stock traders in mind. There are numerous other intricate differences between these platforms but, in general, if you aren’t focused on forex trading, MT5 will be a better option.
Another good alternative to MetaTrader 4 is ZuluTrade. If you want an easy-to-use platform that makes it simple to find, copy, and place trades made by the world’s leading finance traders, ZuluTrade is well worth a look.
Metatrader 4's Features
Searching high and low for the best forex trading app? MetaTrader 4 (MT4) could be the solution you’ve been waiting for. With thousands of add-on market indicators and trading robots to install, this platform is widely used by professional and amateur forex traders alike. In this MetaTrader 4 review, we’ll explain why MT4 is a great way to trade on forex, futures, CFD, and plenty of other markets. While the MetaTrader 4 software can be used in demo mode for free, live accounts require you to go through a licensed third-party broker.
Like many of the best forex trading apps, MetaTrader 4 allows you to perform trades through instant execution, by request, or according to market triggers. Beyond this, you’ll find plenty of niche and interesting features that help MT4 to stand out from the crowd.
Expert Advisors are one example of that. These are proprietary programs created in the MQL4 language that can help you to automate trading. Because Expert Advisors are designed by third parties, their quality and cost vary, but used correctly they can have a massive impact on your portfolio.
Another important aspect of the MT4 platform is its insane level of customizability. Thanks to an unlimited number of charts, you can create an interface that fits with your precise trading preferences. It’s even possible to set up custom audio alert trading signals to inform you when it's time to copy a deal.
Experienced traders are drawn to the MT4 platform by its advanced analytics toolset. When you initially install the program, you’ll be able to forecast price dynamics with 30 built-in indicators. After you’re set up, you can install almost 3,000 additional free and paid indicators.