Metatrader | MT4
Metatrader is a platform traders use for trading the forex, stocks and commodities markets. The current
version of metatrader in popular use right now is Metatrader 4 (MT4). The next version, Metatrader 5 (MT5), is
still in beta (testing) stage. There are a few other popular trading platforms and MT4 is easily one of
the most used and popular.
There are numerous financial instruments you can trade on MT4, but the exact instrument
depends on the brokers' offerings. Forex is the most common instrument on MT4, and most brokers
offer it. Not all brokers, however, offer the same currency pairs for trading. The number
of currency pairs vary from broker to broker but the major pairs such as EURUSD, GBPUSD, USDCHF and
USDJPY are usually offered.
One of the probable reasons for the popularity of MT4 is because it's free for the trader to use. All
you have to do is download metatrader (MT4) from a broker's website. Once installed into
your computer, register for a demo, and you're ready to test the platform.
Most brokers give you only a month to demo; if this account goes bust before the month is up, you have to
re-open an account again. Even if you do well on the demo, once your first month is up, the account stops
working and again, you will have to register for another one. That sounds frustrating for new traders who
usually need months of self-training to be ready to trade live. However, you can get a MT4 platform that
allows your demo account to go on for an unlimited period as long as your demo equity balance allows it.
Another probable reason for the popularity of MT4 is the ease of use. You don't really need a course to
understand the software. You can easily make orders, add indicators and observe prices all on the same interface.
If there are any terms on the metatrader platform that you do not
understand, just click the help button and search for the topic you need.
How to Install Metatrader Indicators
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