The Five Main Reasons To Choose A Metatrader 4 Forex Broker
Metatrader 4 is increasingly becoming one of the most popular Forex Trading Platforms available to traders
. Because of this there is an ever increasing range of Metatrader 4 Forex brokers from which to choose. While some brokers have introduced the platform in parallel with their own platforms, increasingly many are becoming solely Metatrader 4 Forex brokers.Five key reasons are given below as to why you should explore the MetaTrader 4 platform prior to deciding on which dealing platform use.
1. Forex Brokers allow Metatrader 4 to be downloaded for Free
The Metatrader 4 trading platform can be downloaded for free. You dont even need to open a live account to try it out as most brokers will offer a free demo account for you to trial. This lets you test out the platform and become familiar with it without having to open a live account.
2. Metatrader 4 is a complete Forex Trading Portal
The Metatrader trading platform supports a range of chart types in including bar, line and candle charts. The premium charts offer real time price updates and can display data in multiple timeframes for each currency pair.
Furthermore many Metatrader 4 Forex brokers will also provide quality newsfeeds from Reuters or Dow Jones newswires for example. These are devliered directly to the trading platform which makes Metatrader a one stop dealing platform for serious Forex traders.
3. Metatrader 4 Forex Brokers provide trading indicators
{Brokers will supply the platform with a large range of trading indicators to be used on the platform-Broker supply a large range of indicators with the platform}. These include both common technical indicators including moving averages and oscillators to more advanced trading indicators. These can be applied straight to the chart and update in real time.
More exotic indicators are available and if they are not provided by the broker they can generally be downloaded for free from the internet and installed on your platform.
For those who are experienced in programming the interface also allows you to create your own indicators and strategies and run backtests on strategies.This is a facility that is generally not available on other dealing platforms.
4. Metatrader 4 Forex Brokers allow Scalping and Hedging Strategies
This is increasingly the case. Many brokers are also now tolerant to the use of Expert Advisors or EAs. These are loaded into the trading platform to allow complete trading strategies to be followed and traded. Some provide the ability to follow fully automated strategies which can be run 24 hours a day.
Free and paid for Expert advisors are available. These prove popular with traders looking to maximise their profit potential.
5. Metatrader 4 Is a Common Forex Broker Platform
Because Metatrader is so widely used you can easily run multiple accounts across different brokers and still use the same platform. This also makes it easy to transfer indicators from one Metatrader 4 Forex broker to another. Also any templates or Expert advisors you already have can be reused.An added benefit is that you can switch between different Metatrader 4 Forex brokers without needing to learn a whole new trading platform.
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