MetaTrader 4 is an easy-to-use and powerful Forex trading platform favoured by millions of traders worldwide. As one of the most popular Forex and CFD trading platforms available, MetaTrader 4 allows traders to conduct an in-depth analysis of financial markets, implement automated trading strategies and trade comprehensively.
One of the main reasons behind the success of MetaTrader 4 is its wide trading features and the ability to take positions according to the needs of Forex traders.
The platform has a large number of indicators and drawing tools for technical analysis, providing traders with the ability to follow the instant movements of the markets. As Jetonbank, all these features can be customised with different timeframe and chart type options.
The most remarkable feature of MetaTrader 4 is the automatic trading support. In this way, Forex traders can set up an automated trading system using their algorithms. This is a great advantage for traders who do not have to constantly spend time in front of the computer to achieve successful results.
The Meta 4Trader platform also has a "signal provider" feature that gives traders a social trading experience and allows them to copy the trades of successful traders. In this way, users can benefit from the success of others without spending time developing their strategies. MetaTrader 4's mobile app also allows traders to trade on the go, adding to the platform's growing popularity.
What is MetaTrader 4 Used For?
The MetaTrader 4 platform is aimed at individual and institutional traders who wish to trade financial instruments such as foreign exchange (Forex), CFDs (contracts for difference) and precious metals.
The MetaTrader 4 platform offers traders access to instant market data by providing real-time quotes. It also helps users identify trends, measure support and resistance levels, and predict future price movements with various technical analysis tools. With all these features, traders can make more informed decisions and seize potential profit opportunities.
MetaTrader 4 allows traders to trade with more competitive spreads in connection with many liquidity providers.
How to Use MetaTrader 4?
MetaTrader 4 is a powerful platform preferred by millions of investors worldwide and enables trading in financial markets. It is possible to trade on a wide range of assets such as commodities, stocks and digital assets, especially Forex.
As Jetonbank, we aim to guide beginner traders by discussing the basic features and use of MetaTrader 4.
To use the MetaTrader 4 platform, you need to download MetaTrader 4 from the official website or your brokerage firm's website. Complete the installation by running the downloaded file and logging in with your username and password.
The "Market Watch" section in the top left corner of the platform shows the list of available assets. From here, you can trade by selecting the asset of your choice. This section also shows important information, such as quotes and spreads.
MetaTrader 4 offers a large number of indicators for technical analysis, allowing you to switch between different timeframes. Indicators in MetaTrader 4 can be used to develop trading strategies based on technical analysis.
How to Set Price Alerts with MetaTrader 4?
To set price alerts and trade forex with MetaTrader 4, open the MetaTrader 4 platform and press Ctrl+T to display the "Terminal" window. Create a new price alert by clicking "New" in the menu that will appear if you right-click on the "Alerts" tab in the Terminal window.
After filling in the "Symbol" field to specify which instrument the alert is for, specify the price level and indicate whether it is above or below this level by ticking the appropriate box. When the price reaches your set level, the platform will alert you audibly and visually.
How to Trade Forex with MetaTrader 4?
Traders who wish to trade Forex on the MetaTrader 4 platform should first have a general knowledge of the platform of their choice. Choosing a reliable and licensed forex broker to trade in the forex market is important in this process.
If trading Forex for the first time, you can practice without risk by opening a demo account. This way, you will recognise the platform and improve your strategies.
After downloading the MT4 trading platform for free from the broker of your choice, you can see the available currency pairs and other instruments from the market observation screen on the left side of MT4 by following the necessary steps. Select the desired pair to analyse or open trades on the chart.
Is MetaTrader 4 Good for Beginners?
MetaTrader 4 is an excellent platform for beginners interested in financial markets. It provides access to various financial instruments such as the foreign exchange market (Forex), stocks, futures and CFDs, allowing users to execute trades.
Thanks to its user-friendly interface, beginners can easily adapt to the platform and start trading quickly.
Users can create custom indicators or automated trading systems thanks to the MQL4 programming language in the MetaTrader 4 platform. This feature allows beginners to gain experience by developing more complex trading strategies.
Does MetaTrader 4 Cost Money?
While the cost of the MetaTrader 4 platform is an important factor for both individual traders and institutional clients, it can vary depending on the users' needs.
Firstly, the basic version of the MetaTrader 4 software is free of charge, allowing traders and brokerage firms to access its core functions related to the financial markets. This free version includes technical analysis tools, charts and automated trading capabilities.
However, traders and brokers who wish to use some of the advanced features of MetaTrader 4 may incur additional costs.
ls MetaTrader 4 Legal?
MetaTrader 4 itself operates as internationally recognised and licensed software. Meta Quotes Software, the software developer, is recognised and respected by financial authorities worldwide.
The MetaTrader 4 platform is legal. However, the important point to note here is that the brokerage houses where forex transactions can be made in a country are supervised by the financial authority of that country. In other words, brokerage firms offering MetaTrader 4 must also be licensed and regulated.
Is MetaTrader 4 Used on Mac?
MetaTrader 4 (MT4) can be used on Mac computers. However, there is no direct macOS version of the platform. To run MT4 on Mac, you must run Windows-compatible applications on macOS using specialised software such as Wine or Play On Mac. This software allows Mac users to install and trade on the MT4 platform. Alternatively, some forex brokers offer web-based or custom-developed Mac-compatible versions of MT4.
Is MetaTrader 4 Used on Smartphones?
MetaTrader 4 (MT4) can be used on smartphones. Mobile applications are available for both Android and iOS devices. These apps allow traders to execute currency and CFD trades, analyse charts and receive trading signals.
