There are many reasons why you may want to trade forex, with many people drawn by the market’s highly leveraged nature and the derivative nature of international currencies.
These are just two reasons why the global forex market sees an estimated $6.6 trillion generated a day, with investors throughout the world utilising the MT4 web trader platform to access the marketplace in real-time.
But what sets this platform apart from its rivals, and why should you consider using it over the MetaTrader 5 (which was launched five years later in 2010)?1. Industry Breadth and the Range of Available Markets
Let’s start with the basics; as the MT4 web trader is synonymous with forex trading and therefore compatible with the vast majority of brokerage sites across the globe.
In fact, nearly any broker that you identify online is likely to offer a free MT4 package when you sign up for an account, which is why the platform remains so familiar amongst novice and skilled forex traders alike.
While the MT4 has also been primarily designed for the buying and selling of currencies, the platform has also evolved to include additional asset classes. These include indices and commodities, which can be accessed seamlessly through speculative vehicles such as spread betting and CFDs.
So, the MT4 web trader offers considerable industry and market breadth, making it an obvious choice for investors across the board.2. A High Quality User Experience
This is yet another tick in favour of the MT4, which boasts an incredibly intuitive and easy-to-use interface that can be seamlessly navigated by both inexperienced and seasoned traders alike.
What’s more, this user experience can be sustained even in instances where you switch brokers, especially when you consider just how many brokerage sites offer the MT4 web trader to their clients.
Even as you evolve and become a more skilled trader, you’ll find an accessible, active external market that can assist too.
This features relevant plug-ins, detailed indicators and Expert Advisors, the latter of which are intuitive forex robots that allow for the execution of automated trades.3. Customisable Charting and Graphics
On a final note, it’s well known that the MT4’s charting capabilities are extensive, but this is just the tip of the iceberg when it comes to how information can be viewed visually through the platform.
More specifically, the MT4 web trader platform enables users to customise charts, so that they choose precisely how data is displayed in real-time.
This also ensures that you’re able to identify key datasets and remove any unnecessary clutter from your screen at any given time, making it incredibly easy to process information quickly and improve your decision making (which is crucial for scalpers and day traders).
There are also nine time-frames at the ready on the MT4, along with a host of technical indicators that can be featured as part of your selected charts.