Advantages of the MT4 Platform
The Metaquotes MT4 platform dominates the world of retail trading, favoured by more than 70% of retail traders. Though the platform is quite old and has technically been superseded, MT5 has really failed to take hold and the MT4 platform has stood the test of time. In this piece we will discuss some of the advantages of the MT4 platform and introduce you to Vantage FX’s smart trader tools for MT4.
Reliable and Bug Free
Though the MT4 platform doesn’t look too appealing, it is reliable, sturdy and does what it’s designed to do. This is one of the main reasons traders and brokers continue to use the software and why Metaquotes has had a lot of trouble pushing out their MT5 platform. As the old saying goes: “if it aint broke, don’t fix it’.
MT4 might have a few idiosyncrasies, but the platform is essentially free from bugs and renowned for never crashing. The same can not be said for the main competitor platform, cTrader, in fact bugs and errors tend to be the number one complaint regarding cTrader.
When it comes to the Tradestation program offered by some brokers, it is arguably as reliable as MT4, but the majority of traders just don’t really like the feel of the interface. When you’re going to be spending hours and hours at your terminal, it is essential you are comfortable with the trading interface. These are just a few of the reasons Vantage FX has opted to offer clients the Metaquotes MT4 platform over competitor platforms.
Trade from any device or on the go
The MT4 platform is available for any and all devices, you can trade from your work PC, Mac, Android phone or tablet and iOS phone or tablet. Though there isn’t a native distribution for Linux at this stage, the PC version can easily be deployed on a Linux system using Wine. The ability to trade from any device and any location, and even have multiple terminals simultaneously connected to a single trading account is a clear advantage of the Metaquotes MT4 platform.
A range of portable trading solutions means you don’t have to be stuck inside your office, glued to your terminal. You can literally trade from anywhere where wifi or a mobile data connection is available: the beach, park, a restaurant or your favourite coffee shop! The flexibility mobile MT4 offers traders can not be overstated.
In built Signals
Another feature traders love about the MT4 platform is the inbuilt signal database, there is no need to worry about third party websites: users can browse analyze and subscribe to signal all from within their MT4 terminal. Though this feature is currently only available on desktop versions, you only actually need to subscribe from your desktop terminal and can then monitor your account from a mobile platform thereafter. A range of free and paid signals make MT4 a clear winner when it comes to selecting a trading platform.
The MQL4 language and MQL4 marketplace
MT4’S automated trading functionality and the MQL4 language are widely regarded as the primary reason for MT4’s dominance of the industry. Automated trading was once the exclusive realm of hedge funds and investment banks, but the MT4 platform and MQL4 language opened the world of algorithmic trading to anyone and everyone. The MQL4 language allows any user with a small amount of coding experience to create their own custom indicators and automated trading systems. MT4 also has extensive backtesting capabilities, allowing you to test your systems over the historical data to see how they would have performed. There are even a bunch of third-party modular interfaces available for users who want to create their system but don’t wish to learn, or feel comfortable with coding.
Don’t want to design your own indicator or automated trading system? In comes the MQL4 marketplace, where system developers sell their creations and even offer some indicators and robots for free. With literally thousands of custom indicators and automated systems available for download on the MQL4 marketplace, you are bound to find a solution that meets your needs and failing that, you can always post a custom job on the freelance section of the MQL4 website.
Vantage FX’s Smart Trader Tools
Another advantage of the MT4 platform is the fact that it is expandable. Vantage FX has taken the basic MT4 platform and supercharged it with our Smart Trader Tools package. Correlation matrix, advanced order types, Session Map, customizable Market Watch tab and a greatly enhanced alarm system are just a few of the awesome features available in the Vantage FX MT4 platform. If you are serious about forex trading then you can’t go past Vantage FX’s Smart Trader Tools.
Can’t beat MT4
With so many clear advantages over competitor platforms, is it any wonder the world’s retail traders and brokers overwhelmingly favour the Metaquotes MT4 platform? The program is reliable and bug free – you can leave it running on a VPS for months without it crashing. You can trade from any device; desktop, laptop, mobile or tablet, and any operating system; Windows, Mac, Android, iOS and even Linux!. Mobile trading means you can take your office outside and enjoy the summer sun while watching out for the next trading opportunity.
The range of paid and free signals available right there in the platform make MT4 a great option for those who want exposure to the forex markets, but don’t necessarily have the time and patience required to trade themselves. Some of these signal have exhibited incredible performance in the past, putting much of the mainstream fund management industry to shame. The MQL4 language opens up a whole new world of possibilities: any user with basic coding skills can create their own powerful custom indicators, scripts and automated trading systems.
On top of all that you have the MQL4 Marketplace where users can purchase and lease readymade custom indicator and automated trading solutions. Add the Vantage FX Smart Trader Tools to the mix, and MT4 simply can’t be beat!