MetaTrader 4 Review – Trading Platform for Forex

MetaTrader 4 Review

This is Metatrader 4 review. It is a trading platform that is used for trading forex. This is especially designed by developers for the trading of forex. It can also be used for commodity and oil trading, but most of the people know about forex. These meta traders are really good and easy to use. These have some options that trader should learn before he starts trading in forex market.

 

There are several things that traders love in forex market and that’s why we are writing here Metatrader 4 Review. In this connection we will highlight the basics of metatrader 4. Right now, there is another version of metatrader 5 is available in market for traders. But most of the people use metatrader 4 for their trading. Why they choose it? because it is best in trading and simple in design. It is easy to use, traders can see 4 currency pairs at once within a metatrader 4. There are several strategies can be applied in it, but if we see metatrader 5 then it will be difficult to trade with several strategies.

 

MetaTrader 4 Review in Demo Accounts

 

People usually start their trading with the help of demo accounts. It is also recommended to use demo accounts before they start trading in live market. When they create demo account then brokers offer metatrader 4 for practices purpose. In this metatrader 4 review we are going to tell you that how much options and facilities available in it. On the top left of metatrader 4, trader can see the list of currency pairs.  The name of that section is Market Watch. In those pairs, traders can see asking price and bid price. These are two things that need to understand before start trading. The asking price is applicable when trader open a buy order and bid price is applicable when open sell trade.

 

There is a difference between these two prices. This difference is called spread, that can be either fixed or floating. After that traders can see that there are approx 4 charts just beyond the market watch. If we see below market watch section then we can see navigation section. In this section traders can see the list of indicators, expert advisors etc. After this section there is a section of order. Below these currency charts we can see running indicators. These are indicators that indicate which kind of market trend and movement is. There are several kind of indicators available either free or paid. We mostly use trending and movement indicators. Some of them are bollinger bands, MACD, momentum etc. Traders can try other indicators too, but first in demo accounts then in live market after getting some experience.

 

Metatrader 4 Review by Seasoned Traders

Seasoned traders usually trade with metatrader 4. They don’t use metatrader 5 because they are habitual with previous version. There are some restrictions in metatrader 5 that’s why we do not recommend traders to use it before they do demo accounts. It is also not recommended to use metatrader 5 for seasoned traders too. Because they will treat that just like previous version, but they may lose money because the strategies are different in metatrader 5.

 

There are some other tabs available below indicators. These tabs will show the equity, balance, open trades, closed trades etc. This box has some other tabs that will also show some other traders trades, some news and robots if any available. These tabs will also show the management system, if someone is managing your account. Some seasoned traders can manage your trading accounts on your behalf. These are called PAMM accounts. We will discuss on this later.

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