The evolution of the forex market over the course of the last two decades has been stark, with the emergence of online and mobile trading platforms making this entity more accessible than ever before.
This has helped to create a global market that’s now worth in excess of $6.6 trillion each day, with a growing number of trades being completed through a mobile trading platform and while investors are on the move.
In this respect, it’s the trail-blazing MetaTrader 4 (MT4) app that continues to set the standard in forex trading, despite this platform being 15 years old. But what sets this app apart, and why is it still the king of forex trading in the digital age?
Industry Reach and Adoption
Let’s start with the big plus; as MT4 trading is widespread in the forex market and available through a diverse range of online brokers.
This means that the app has a broad industry reach and adoption, creating a scenario where the MetaTrader 4 platform has become incredibly familiar and popular across the globe.
What’s more, this app is free to access and use through most reputable brokers, meaning that investors can retain as much of their capital as possible while pursuing optimised returns.
It’s this combination of factors that has arguably established the MT4 as the industry standard in the forex market, despite the fact that parent company MetaQuotes released an apparent upgrade in the form of the MT5 back in 2010.
Another key factor in favour of the MT4 is the user experience on offer, as the app boasts an incredibly easy to use interface and one that enables even novice traders to hit the ground running in the forex market.
This is an important consideration, as it minimises the transition period when first using the app and optimises the window of opportunity for traders to boost their profits.
As we’ve already said, the MT4 app is also widely available, so you’ll retain access to your account even in instances where you switch brokers or start using a brand new platform.
The MT4 also offers exceptional value to seasoned and skilled traders, thanks to advanced features such as plug-ins, detailed technical indicators and Expert Advisors (EAs) which help with automated trades.
Charting and Customisation
Perhaps the most striking benefit of the MT4 app is its charting capabilities, which are incredibly extensive and more than adequate for the vast majority of international forex traders.
The vast array of MT4 charts are also concise and completely uncluttered, spare for a few essential toggles and viable features. The app also features nine available timeframes and a raft of indicators, so you can customise charts to showcase the precise features that you need.
The issue of personalisation is an interesting one, and the potential for this is almost unprecedented when using the MT4.
Just about any screen format or indicator is available when using the MT4, enabling you to create a fully customised trading experience that’s unlike any other. This is a wonderful feature, and one that makes the app popular amongst traders of all shapes and sizes.