MetaTrader 4 (MT4) functions as a comprehensive platform for trading foreign exchange (FX), analyzing financial markets, and using expert advisors.
Despite the emergence and adoption of the newer MT5 variant, MT4 has remained the dominant and de-facto platform utilized by brokers since its release by MetaQuotes Software since 2005.
MT4 is widely used in the online retail foreign exchange space by traders.
The software is licensed to FXbrokers who provide the software to their clients and consists of both a client and server component.
The server component is run by the broker and the client software is provided to the broker’s customers, who use it to see live streaming prices and charts, to place orders, and to manage their accounts.
Mobile trading, Trading Signals and the Market are the integral parts of MT4 that collectively look to bolster trader’s experiences with the platform.
Why MT4 is Still Popular
Since its inception, the proliferation of MT4 has been due in large part to its ability for end users to write their own trading scripts and robots that could automate trading.
This has been a large draw for brokers, who have made this platform the industry standard for over a decade.
Presently, millions of traders use MT4 globally for their trading needs making it one of the most successful platforms of all time.
MT4 also appeals to a broad spectrum of traders of all skill levels, adding to its flexibility amongst brokers.
The platform leverages advanced technical analysis, flexible trading system, algorithmic trading and expert advisors, as well as mobile trading applications.
MetaTrader supports 31 languages while the installation takes no more than a few minutes to complete.
Overall, MT4 is also a versatile program for brokers, given its availability on Windows, MacOS, and Linux.