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MetaTrader 4, android app developed by MetaQuotes Software Corp, is one of the most popular trading platforms today. This platform can be used for trading CFD, Futures and Forex. This android app offers very stable performance and has numerous advanced and basic features and options. It has reached this high a level of popularity because of the fact that it is known for providing the best solutions to most brokers. Due to the high demand in market, a number of companies were forced to establish brokerage services and they could do so easily using MetaTrader 4.
The most appealing feature of MetaTrader 4 is its high level of organization. Its default interface has all you need in the form of a highly simplified design, making things easy for the beginners, while also integrating high-tech features for the experienced ones. All the major trading tools like trend lines, arrows and text for charts, Fibonacci levels, etc. can be accessed from the main tools bar. You also have the option to add and to remove indicators, change your time frames, change display of price. You can use common indicators like RSI and MACD by just going to the indicators section and drag dropping the one of your choice. As you analyze charts, you can modify and open trades, check account balance and history, messages, trading alerts and market news too.
These are just one part of the reason why this platform is so highly preferred. There are also 2 special unique features- Custom indicators and Expert Advisors. Using these two features, you can build your own auto-trading software and indicators as a programmer or developer. Adding custom made indicators to your platform is very easy. Thus, you can have your personal collection of trading systems and tools. Each platform comes with personal trading software.
The installation of this android app is very simple and easy. All the advanced and basic tools are available in one place for instant access as per your desire. As a large number of brokers use this platform, you can change your broker and still be able to use this platform with a new one.
At times, programmers and developers try their best to make all they can out of this platform to their advantage. This can get to a maximum limit, causing the platform to handle that which its initial design had not been made for. Certain indicators and expert advisers can cause this platform to act weirdly, and even stop working altogether. Then, you will have to delete the problem causing indicator or expert and re-install the entire platform.
Its amazing features and simple design make MetaTrader 4 not only the most popular but also the best trading platform available today. It is always kept updated with performance, supporting brokers and features. It is a favorite among programmers and developers. It is not very perfect though. You will need a while to get a good understanding of the platform but if you just want to deal with basics, then you will be able to understand everything in very little time.
Good: Highly simplified interface and easy to install and use
Bad: Can act weirdly and even stop for some indicators and experts.