Have you heard about MetaTrader? It is a popular trading platform not just for Forex traders but traders who venture into other markets. You can trade a wide range of assets on this trading platform. It is considered as the door to you and other trading markets. MetaTrader is feature-rich which provides the trader the capability to make different trading activities such as monitoring the markets, charting, technical analysis, and using Expert Advisors for automated trading.
What is MetaTrader?
MetaTrader is popular among Forex traders. It is known to be the best choice for traders and brokers always offer it to their clients. There are two versions of MetaTrader, the MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both of these versions are available on web browsers, mobile and desktop too. More importantly, no matter which trading platform you choose, it will not cause lags on your computer. This is something very important when trading because every second counts when you trade. The software is not too heavy and it will surely not overload your systems. You can execute your trades fast and accurately. These things are very important especially if you are dealing with volatile markets.
Why Choose MetaTrader?
There are so many reasons why choosing MetaTrader is the wisest option for you. Aside from the fact that it is very easy to use, it is also packed with a lot of features well suited for trading any assets. You can easily follow price fluctuations and also examine the trading charts so you can implement even the most complex trading strategies as you plot the trends that will help you in making credible decisions when trading. Some of the chart types supported by these trading platforms are Renko charts, Heikin Ashi charts, Line charts, and candlestick charts.
It is also very easy to set up your trading order. All you have to do is set a stop loss or take profit orders that get triggered once a specific amount is reached. There are also pending orders and trailing stop losses that are easy to set up.
For traders who like to automate their trades, they can do so through Expert Advisors in MT4 and MT5. A certain script is uploaded into the platform and these scripts carry instructions that are implemented automatically. This gives you time for yourself instead of being glued to your computer all the time. You also won’t miss out on any good trading opportunity. The platform allows you to view trading history and download your trading data, request a well-detailed trading report and also track your past charts and graphs.
In particular, MetaTrader 4 is well suited for Forex trading and they already have a huge number of traders trusting their services for quite some time. But if you are going to venture into the market outside Forex trading, you definitely need to use MetaTrader 5 because it offers more advanced trading strategies and tools for you. The popularity of MetaTrader lies in these things. If you want to be sure what trading platform to use, you can also try their free demo account first.