MetaTrader 4 and MetaTrader 5 Trading TerminalsThursday, 24 August 2017 07:49
The MetaTrader platform is used in Forex trading around the world. It’s used by traders, brokers, and banks. It appeared 17 years ago and got a lot of improvements during this time.
The program is developed by MetaQuotes Software Corp., an international organization registered in Cyprus. Offices of the MetaQuotes Software Corp. are located in Singapore, Australia, Turkey, and China.
The program allows you to trade on the Forex market, futures, CFD markets, and with the fifth version - on stock exchanges.
The first release of the program was created in 2000; it was called FX Charts. This product quickly bypassed all the competitors, due to speed, intuitive interface, and price.
In the second version, the drawbacks of the FX Charts were fixed, and the CFD trading option was enabled. A new programming language, MQL (Meta Quotes Language), was developed specially for the second version. Thanks to this, it became possible to make the custom indicators, scripts, libraries, and trade robots. Traders were able to connect the automatic advisors, trading independently at any time. The program was called MetaQuotes.
With the release of Meta Trader, the third version of the platform, the futures trading was added, and the MQL language was improved. With the help of free interface libraries, brokers have the opportunity to create the individual terminals. A mobile version was also developed.
MetaTrader4 (MT4), released in 2005, contains many additional options, and has several components:
- MetaTrader4 Server - the basis of the platform, which records the dealing operations and provides archiving;
- MetaTrader4 Manager - user profiles management;
- MetaTrader4 Administrator - remote management of servers and databases;
- MetaTrader4 Data Center - the center of the system security and memory balance;
- MetaTrader4 Data Client Terminal - a brokerage terminal with the customization tools, technical tools, etc.;
- MetaTrader4 Mobile Terminals - mobile versions for iOS, Android, Windows Mobile and Pocket PC.
In 2010, the company released MetaTrader5. In the new terminal, it became possible to trade on the stock market; there are four orders processing modes, fundamental analysis tools, and the app market. A trading strategy generator was implemented in the MQL5 language.
Advantages of the MT4 Platform
- This program allows you to work on 21-time frames, which is suitable for any strategy.
- Creating the Expert Advisors doesn’t require advanced programming skills.
- There is an opportunity to work with a book of orders.
- Trading passes quickly and conveniently, with no unnecessary actions.
- The ability to purchase proven technical means, and sell your products.
- Archives of quotations take up least space. For example, the ten-year history of a currency pair takes only 10 MB.
Advantages of the MetaTrader5
The fifth version was released seven years ago, but many traders still use the fourth one. First of all, traders are not satisfied with the fact that the advisors made for the previous version are unable to work in the new terminal. The developer also excluded the possibility of locking the positions and transaction summing.
However, other users note the significant advantages of the new version. Here are the few of them:
- Simultaneous trading on different markets from a single account.
- Convenient and fast trading robots development, provided by a C-like programming language.
- A lot of built-in tools: 38 indicators, 39 graphic tools, 17 visual styles, four scale models, calendar of events, economic news, a tool for strategy testing.
- Ability to share the trading signals, and connect to the signals of other market participants, which facilitates the trade for beginners.
- Four modes of order processing (instant execution, execution on demand, on the market, exchange type).
- Simple, intuitive interface.
If you choose a trading platform, and you’re not sure whether to install the MetaTrader, then read the reviews of other traders. This program is top-rated among the Forex traders around the world, and allows a profitable trading on any strategy, within any trading style.