MetaTrader4  (MT4)

MetaTrader4 is a powerful and convenient tool used for technical analysis and trading in the markets, it also happens to be one of the most popular trading platforms available today. The cutting-edge platform was developed and released by MetaQuotes Software Corp. in 2005 for online trading in the Forex,Contract For Differences (CFDs) and Futures markets.

MT4, as it is more affectionately called by traders & brokers alike, can be downloaded completely free of charge from www.metatrader4.com/en/download or through the majority of online brokers. The MetaTrader4 provides all the tools and resources that traders need in order to analyse price action, watch live streaming charts, manage trades and take advantage of the automated trading techniques offered. In 2010 MetaQuotes Software Corp released a successor, namely the MetaTrader 5, although in comparison it has been quite slow on the uptake and as of today the majority of traders still use the original MT4.

Features:

  • Unlimited number of charts
  • 60+ analytical tools
  • Algorithmic trading and MQL4 IDE
  • MetaTrader Market where you can purchase Indicators, Expert Advisers and even books
  • News and Alerts informing you of important market events
  • Absolutely Free
  • Powerful platform
  • Mobile app

Downloading and installing the software should only take a few minutes with a decent internet connection and once successful the platform should launch automatically, during the first launch you will be prompted via a popup window to open a free demo account allowing you to test all the features of the trading platform. A piece of advice though, do not enter your correct telephone/contact numbers when setting up your demo account or just leave that space blank unless you want to be hounded by brokers nonstop, trying to get you to buy the software or sign up with them. 

MT4 Platform

Ensure that the “I agree to subscribe to your newsletters” box is selected/ticked in order to click the ‘next’ button and complete the process.  Finally, once your account has been successfully created, the data will begin to update automatically and your new best friend (charts) will appear on your screen J

The MetaTrader4 will open with four chart windows, each one showing a different currency pair. The ‘tool-bars’, which is crowded with icons, are located at the top of your screen. Below the tool-bars, on the left side of your screen, is the Market Watch window, whicMT4 Platformh lists a variety of currency pairs along with the corresponding bid and ask prices. There are two tabs that are located at the bottom of the “Market Watch window: One is called “Symbols,” which shows the list of currency pairs and the other is called “Tick Charts” which can be selected to show the current price activity of any of the listed currency pairs.

Below the “Market Watch” window is the “Navigator” window. Here, you can view your account, as well as a variety of indicators, “Expert Advisers” and “Scripts.”
The “Terminal” is located at the bottom of the screen with six tabs: Trade, Account History, Alerts, Mailbox, Experts and Journal although more can be added if you want to. 

The Binary Advisory Team