Knowing MT4, The Most Famous Trading Platform

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As a trader, MT4 is no strange or new things. Almost all brokers use MT4 as a platform for trading, as a platform for trading of the forex pair movement. MT4 itself has been launched since 20 years ago, and  it still continues to be used by brokers by now.

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View of MT4

MT4 itself was originally designed as a multifunctional and cross-broker platform. At the beginning of its appearance, MT4 was not well received because its predecessors experienced many technical problems. At that time, each broker had a different platform. However, when MT4 was launched many brokers were interested in using this platform and is currently the most used trading platform.

The main feature that makes MT4 preferred is the presence of indicators. There are indicators that are inherent from MT4 and there are also those that can be added (custom indicator). Especially for custom indicators, many who take advantage of this convenience to add new indicators. At this time, and up to date only MT4 (and MT5) has this advantage. This is what makes this platform loved by many people.

In addition to indicators, the display of currency pairs is also minimalist. This is important for traders because what is more important is the appearance of charts rather than changes in numbers from forex pairs. MT4 is also able to accommodate hundreds of types of pairs, even including shares and stock indices and other indices. Orders are also easier, by clicking the left mouse button on the screen will automatically open the order dialog box. If the right mouse is clicked, it will open the screen display settings of MT4.

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The user-friendly display also makes MT4 quickly known. The screen for graphics is bigger compared to price is another factor of excellence. In fact, MT4 is able to accommodate brokers with 4 digits and 5 digits at one time. This also makes MT4 preferred by many traders.

Trader’s creations also can improve in MT4, Traders can draw lines, get up flat to certain signs to facilitate analysis. There are lines and balloon chat options, timeframe options ranging from 5 minutes to monthly, even can see 4 charts at once in one frame, just by clicking minimize on the chart screen. For most traders, they only know MT4 as a platform to buy and sell their currencies without knowing others.

The success of MT4 itself is not without problems. Data security and glitch are the main issues for MT4 users. Although only as a “container”, but stored data vulnerable to being stolen by hackers. Moreover, MT4 has not been updated in the last 20 years, so the security feature is entirely in the hands of brokers, not on Multitrader. This is quite dangerous if Metatrader has broken into and opened all the data that saved in it.

With that reason, news was heard that Multitrader as the developer of MT4 wanted to stop the operation of this MT4 and advocated switching to MT5. The reason is uncertain, but with a platform age of more than 20 years, many gaps and glitches that may arise and can not be overcome. In addition, many features are out of date, so they need to be replaced.

In fact, it is not easy to change MT4 to MT5. This is because for traders, MT5 is not user friendly and is too “sophisticated” for a platform. Until now, only very few have used MT5 as their trading platform media. Although it is said that many features are outdated, in fact MT4 is already attached to traders and is more widely used today. The migration process was slow, even some brokers issued inducements and even threats if MT4 was stopped completely.

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