Sunday, September 14, 2014

Trading On the MetaTrader 4 Mobile Trading Platform With 4XFX

MetaTrader 4 is probably the most popular and most widely used mobile trading platform on Forex market in the world.

It was first introduced in 2005 by MetaQuotes Software’s Corp. One of the main reasons why trading on the MetaTrader 4 mobile trading platform is so popular is the fact that the developers are constantly updating and upgrading this platform. This is why their terminal is considered to be the most reliable in this industry and it is well known for its excellent security features.

How Does MetaTrader 4 work?

Trading on the MetaTrader 4 mobile trading platform is very easy. This platform has user-friendly interface with intuitive tabs and buttons which makes it suitable for both beginners in this field as well as experts. For example, the Market Watch provides the traders with an opportunity to quickly take a look at the available prices and instruments for trading. The overview options of the charts make MetaTrader 4 easy and very convenient to use. This platform comes with nine timeframes divided in groups that cover different periods of time from one minute to one month. In this way users can easily check the progress and changes of each currency within the selected timeframe which means they can analyze the latest trends on the market and make better decisions. All the charts can be adjusted allowing traders to monitor the most important factors in any given moment.

Thanks to the wide range of indicators and Expert Advisors (or EAs), MetaTrader 4 users have access to high level automated trading, something that is really important when it comes to Forex trading. The platform uses simple drag and drop technique which allows users to quickly add pairs on the charts. Some indicators like Parabolic SAR, Moving Average or Bollinger Bands help traders determine the trends and turning points in the same moment. Expert advisors are functioning like bots and they are actually programs that are specially designed to follow the market trends. EAs can process a huge amount of data and present a trading signal within seconds. Both expert advisors and indicators can be adjusted by using the well known programming language – MQL4. 

Unlike most of the other platforms, MT4 allows traders to lock positions. This means that the trader can hold buy and sell positions for the same currency at the same time. This so-called hedging of a position allows traders to use different strategies that are not available on other platforms. 

How to begin trading on MetaTrader 4?

One of the best things about MetaTrader 4 mobile trading platform is that this platform is absolutely free to download. Of course, this doesn’t mean that you can trade in Forex without the help of a broker such as 4XFX. Keep in mind that most Forex brokers work with MetaTrader 4 but you should still check if that option is available before you start working with a new broker. Searching for a MetaTrader 4 Forex broker won’t take too long because all the major Forex brokers such as 4XFX allow users to trade through this platform.