Online forex traders in India have all their needs covered in MetaTrader 4. The platform comes with advanced features and is greatly improved ever since it was launched in 2005. It is a highly customizable and efficient tool for traders. Besides, the platform is compatible with iOS, Windows, and Android.
In India, the software is licensed for both CFD and Forex brokers. It can be downloaded for free from the app store or MetaQuotes website. Also, a trader can download it for free from websites of licensed brokers.
One of the amazing features of MetaTrader 4 that makes it hit the headlines in India is its basic and advanced interface. The basic version is designed for beginners, while the advanced MT4 interface is for experienced traders. One other important aspect we should note about MT4 interfaces is that they are interchangeable. This is important for traders who may have a preferred interface.
Why The Software Popular In India
MetaTrader 4 has been and continues to be a mirror of the forex market. Besides, it lists current trends of the instruments or currencies that a trader may be interested in. Here are some key features that make it enjoy a higher rating than any other trading engine.
- It features expert advisors.
MetaTrader 4 offers special programs to traders from expert advisors. They are programs that allow traders to implement an automated trading strategy. These are tools that can be optimized for traders.
MT4 features many preinstalled indicators. The trader can also download and customize indicators from the directory and move them to the chosen chart.
Traders have access to the alert tab. It allows them to create new alerts by right-clicking on create in the terminal window. This is essential since it allows them to create alerts when a change in stock prices takes place. It enables them to either buy or sell the stock.
4. Time frame
The button is becoming popular with traders since it allows them to easily create the time frame, which allows the chart to get refreshed.
- Trade execution
It is the main functionality of Meta trader that allows one to execute trades.
- Stop Limit order
It allows traders to set predetermined stop order prices for their chosen stock. Also, it allows them to stop the execution of orders if the prices change undesirably.
- The close or Modify order tab
The icon allows a trader to open a pending order or close it. It also allows them to delete or modify an order in the drop-down menu.
More reasons why the platform is becoming popular in India
Meter Trader for is a free platform so brokers cannot manipulate it to include technology-based charges. It is suitable and ideal for both the tech-savvy and non-technical traders. Also, MT4 is a widely used trading platform and allows traders to change brokers but still enjoy the same interface. What’s more is that it features a simple but smartly designed interface.
MT4 is compatible with windows, IOS, and Android. This is vital as it allows traders to use it on smartphones, PCs, and any other convenience mobile device. Furthermore, it comes with a charting tool that features indicators that gives a view of the market. It is one of the software that allows for one-click trading, which is good for traders. Besides, it supports multiple languages meaning that even Non-English traders across the world will still trade in their native languages.
Indeed no stock trading software can be compared to MT4. It allows for hedging, is secure and ensures that your trading transactions are safe. Meta Trader 4 features a state of art backtesting functionality, can be customized and allows for a personalized trading experience.
Of course, there are plenty of other reasons to make Indian Traders choose MetaTrader4 for forex and CFD trading. However, the simple interface and plenty of charting tools make it incomparable to any other platform.