The Basics of MetaTrader 4
Designed and created by MetaQuotes Software, MetaTrader 4 is a free electronic trading platform that provides a gateway to the foreign exchange market. Released back in 2005, the software is split into two broad components: server and client. The server component of MetaTrader 4 is the piece operated by individual brokers. Because MetaTrader 4 is a multi-broker platform, it means the software is licensed out and therefore used as a gateway by a number of different brokers.
In addition to the server side of the software is the client component which is the platform each individual broker offers to their customers. Based on their own business model and preferences, each broker will offer different trading conditions through MetaTrader 4. Indeed, depending on the technical resources they have available, a broker may choose to customise various parts of the software and create a hybrid trading platform.
Beyond this internal customisation, MetaQuotes Software has expanded the reach of its platform through the introduction of desktop, mobile and web-based clients. At its core MetaTrader 4 is a windows-based platform, however, due to the proliferation of online Forex trading the product is now available in non-downloadable and mobile forms/ In addition to offering a live link to the currency exchange market, MetaTrader 4 boasts a number of features, including: market watch displays, charts to show the movements of a currency, a variety of indicators for analytical purposes and Expert Advisors which can automatically implement preset trading strategies.
Overall MetaTrader 4 offers a comprehensive trading platform that caters for both beginners and professionals. Used by more than 100 brokers across the world, traders of all skill levels can access the live Forex market and take control of as many variables as they wish. While some will rely on the software's inbuilt capabilities, experienced investors will be able to tweak its tools to suit their specific needs.