Although numerous other trading solutions have been launched over the years, MetaTrader 4 is still one of the preferred choices among retail traders, especially those that are actively trading using CFDs. The benefits and features of MT4 continue to increase, providing new indicators and tools that can be used to understand asset behavior both from a technical and fundamental point of view.
With that in mind, traders should be updated with the main features they can benefit from when using MT4, especially now when volatility is expected to drive the FX market, as well as stocks and commodities.
A wide range of indicators
In an uncertain environment, having access to a variety of indicators is critical. MetaTrader 4 is fully equipped with standard and custom-made tools, which makes it possible to use any type of trading strategy. Traders with different profiles and goals can join a broker covering MT4 and start getting involved in any market.
Daily trading, swing trading, or even position trading is possible when using this platform. Millions of traders still use it, although MetaQuotes is also offering MT5, an upgraded version, but with multiple differences, especially in terms of the programming language used for Expert Advisors.
Automated trading capabilities
Many traders have not migrated and still rely on MT4 trading because they use EAs, which leads to the second important benefit. MQL4 is a programming language can that generate any type of automation tool. Traders can put the entire process on auto-pilot, using free or paid trading robots compatible with MetaTrader 4.
Not all want to give up control over their finances, which is why EAs are used to collect quantitative data or other variables that can point to how any given asset can perform in the future.
Access to market news
Considering financial markets are very sensitive to news, MT4 comes in hand with a dedicated section where users can be updated with headlines that have an impact on asset valuations. Inflation developments, monetary policy, earnings reports, and other finance news are constantly being added, meaning traders will have free access to information.
News trading remains one of the top priorities for retail traders, given volatility increases and if price direction bias is also occurring, that could result in numerous trading opportunities along the way.
A great level of customization
As compared to other proprietary solutions available in the market, MetaTrader 4 is a highly customizable platform. Traders can change charts, colors, adjust windows, and plot indicators based on their own will. This means MT4 can adapt to any device and can be used in any market conditions, ensuring a great degree of flexibility.
Although the platform itself is not a guarantee for returns, it should be noted that if traders do their work and choose a proper solution, that could result in better tools and features. MT4 is one of the platforms that has passed the test of time and continues to be a preferred choice among CFD traders.