MT4 Brokers

What is MT4?

The metatrader platform is a trading platform that was developed by Metaquotes in 2005. The platform is most commonly associated with forex trading, the platform can be used for trading purposes in different assets as well that range from cryptocurrencies, commodities to stocks and indices.

The platform is more than popular because of the fact that it is extremely customizable according to the different needs of different traders. The users can enjoy automated trading which uses critical algorithms to place trades on the behalf of traders and always work on a set of parameters.

How to use MT4?

Below is a step-by-step guide on how to access and use MT4

Create an account

To use a broker’s MT4 offering, Traders need to open an account that the broker. Once that is done, the traders can read the instructions for further steps on dashboards provided by the broker.

Download MT4

After the account opening process is done, the traders download the platform on their desired device. Once that is done, the traders can begin making trades.

Open a position:

Using the order window that the platform provides, the traders use the tools and click on new orders. This Will bring them another popup window where they can place an order. Once that is dne, the platform will go back to the previous window,

While the windows that the platform provides can come a little intimidating, here is a quick vocab recap to understand how things work.

Symbol:

This is a drop down menu that allows the traders to select the markets where they want to trade. For a CFD based account for example, the traders can choose the number of contracts they want to trade from here.

Stop Loss:

This Is a very important thing to use for all the traders. Basically, stop loss lets the traders put a limit to the price.

When the trade begins going too much against you, the stop loss will take you out of that trade once the predetermined price limit is reached.

Take profits:

If the traders want to limit the profit percentage that a specific trade can see, they can use this feature to stop the loss from increasing.

Traders can also choose the instant execution button where the traders can either select the buy or sell. Similarly, the pending order can tell the traders about the specific place where they want to open their position once the market opens.

What the instant execution does, is that it enables the maximum deviation from the price that is quoted. The traders can face rejection when the price moves suddenly and an order is placed. If there is still a requirement for placing the trades within that particular price range, the traders can check on the maximum deviation button in the pips section. This is the deviation that the traders are willing to accept.

Buy or sell: When the traders are ready to place the trade, they should clickmon buy if they think that a bullish pattern is in the picture and sell if they think that the market will plummet. This will place the trades for the traders in the market.

Here are some brokers that provide the MT4 trading platform:

HFTrading:

In the market since 2019,HFTrading has been eradicating what is sometimes called the silly competition. The broker offers trading on more than 300 CFD tradable instruments via three chief accounts.The silver account, the platinum account and the gold account. Traders are provided with a plethora of trading related education materials with which they can trade on the market with a lot of extra expertise. The financial service provider provides the MT4 trading platform for trading via which the traders can use the money making opportunities that come on a daily basis via the platform.

The broker is regulated by not one but two regulatory authorities of new zealand and australia.

Global Trade ATF:

The broker happens to be the digital sponsor of the national soccer team of Argentina and is without any doubt, the most liquid service provider in all of argentina. The broker offers the MT4 trading platform with which the traders can place their orders and make trades. The platform also comes in with an automated trading system that caters the trading needs of the traders even when they are not in access to the market. The broker provides more than 300 CFD tradable assets on three different trading account. GlobalTrade ATF happes to be regulated by one of the top regulator firms that can ensure that the transactions that happened by the broker are all secure and sound.

Bottom lIne;

The MT4 trading platform is arguably one of the best out there. The traders can always use different trading platforms as they feel like but being the epitome of trading platforms, the MetaTrader lineage offers the maximum comfort and a perfect complexity. Always remember that the trades will be made by the trader but they will be directed by the trader only. So technically, the platform plays no major role in the success rate of traders. Always trade on math and never on emotions.