Discover MetaTrader 4, a popular online trading platform

MetaTrader 4 or more generally MT4 is a popular online trading platform that is widely used by traders around the world. Is there a loss in this market?

What is MetaTrader 4?

MetaTrader 4 is a software or online trading platform that traders use to access certain brokerage systems so that traders can trade in the forex market with ease. MetaTrader 4 was developed by trading development company Metaquotes Software Corp and was first released in 2005. JMT4 is not made by any particular forex broker, Metaquotes does not open its own brokerage services but instead sells licenses and leases MetaTrader servers to forex brokers. Almost all Forex brokers in the world offer MT4 for trading because it offers several advantages, such as: B. Opportunity for traders to add and create special scripts to create custom indicators and create forex robots, aka expert advisors, for trading purposes. In addition, MT4 allows traders to monitor price movements, perform analysis and execute orders. MT4 is available not only as software for your computer or laptop, but also as a mobile version, both for Android and iOS, which can be downloaded and installed on your smartphone. This application can be used on various operating systems (OS). The following discussion is a feature of MetaTrader 4,

How the Metatrader platform was born

To learn about the history of the Metatrader platform, let’s go back to the history of forex trading. Forex, stock and commodity trading existed long before the Metatrader platform was created. Therefore the question arises: “How did ancient people carry out their business activities?”

Until recently, only specialized trading companies could enter the financial markets, so if individuals/companies wanted to buy and sell shares, they had to go to a broker.

Communication between brokers and traders for business purposes was done exclusively by telephone, which was the fastest medium at the time, and that alone still created problems. Passing important information over the phone also requires you to feel slower. MetaQuotes Corp
On this basis, the Russian software company Meta Quotes Software Corp (MQSC) started developing special software for the needs of financial markets in 2000. The Metatrader software was born from this company.

The Metatrader platform immediately became popular and is presented as a great success because of its ability to perform real-time transactions on financial markets. This MQSC update immediately replaces the trend of telephone-based trading with online forex trading.

In its history and development, Metatrader consists of

  • Metatrader 1

This is the oldest version of Metatrader. Metatrader 1 features are:
Expert Advisors and MQL, automation of backtesting and creation of business data reports/archives.

  • MetaTrader 2

An improved version for Metatrader 1 was released in 2001. An improved feature is the extended range of tools to support CFD trading. In the Metatrader 2 version, users can write Expert Advisors and MQL.

  • Metatrader 3

Of course, Metatrader 2 is still not perfect, so in 2002 MQSC released a development version of Metatrader 2, namely Metatrader 3. On this platform, traders can trade futures contract products and Expert Advisors using MQL2. Q. Metatrader 4
After a three-year hiatus, MQSC has re-released the MetaTrader 4 platform and significantly improved the platform. With Metatrader 4, platforms can connect through optional data centers to improve server stability, reduce server load, and improve security against denial-of-service attacks.

If you want to use the Expert Advisor programming language, upgrade directly to MQL4.

  • Metatrader 5

5 years later, in 2010 to be precise, MQSC re-released the Metatrader 5 platform and expanded its services to include stocks and commodities. Expert Advisor programming using MQL5.

Do you understand the history of the Metatrader platform? Now is the time for you to learn directly how to use the Metatrader platform for forex trading!

What are the features of MetaTrader 4 for traders?

  • Various features of MetaTrader 4 make this trading platform used by many traders. Not only can it display real-time price charts of various currencies, but it is also equipped with various technical indicators. Then what are the features of MT4 for traders?
  • Track price changes in the form of bar, line and candlestick charts. Price movement analysis using various technical indicators.
  • Open and close orders in instant execution, market setting, or pending orders.
  • Use trading history and find trading account balances.
  • Implementation of an automated trading system or automated trading.
  • Traders can trade without worrying about security because the system is equipped with encryption and is always up to date. The latest version of Metatrader 5 even has a built-in financial calendar and direct access to the market, where many development companies sell trading robots.
  • With various trading support features for traders, you don’t need to worry about the cost of using MetaTrader 4, this trading platform can be downloaded free of charge for PC or laptop versions and mobile versions for Android and iOS.

How to get MetaTrader 4?

Although forex brokers offer different software or trading platforms, almost all forex brokers offer MetaTrader 4. This shows that this trading platform is very popular among brokers and traders. So it is very easy to download and use MetaTrader 4. You must first open a demo account or a live trading account with one of the forex brokers of your choice. After you have successfully registered, you will get a username and password and the forex broker will send an MT4 download link to your email address. If you want to download the mobile version of MT4, you don’t need to search for MetaTrader 4 APK in any search engine, you can download it directly from Google Play Store or App Store.

Want to know how MT4 looks like?

View from MetaTrader 4. Source:
MetaTrader4.comThe MT4 trading platform is not only popular but also easy to use for novice traders. MT4 consists of several sections, at the top of MetaTrader 4 there is a menu bar with various options. You can change the appearance of the platform window by clicking “Show”, to add special tools to the chart, click “Add”. To change the graphic display, you can select “Mail”, order, test or modify the trading robot with “Tools”. Meanwhile, to increase the number of chart windows in one screen, select “Window” and if you are confused and want instructions on how to use MetaTrader 4, select “Help”. Below are also links to various tools that marketers use most often. In the center is a showcase with a white background, you can see the price table. The price chart on the screen is in the shape of a candle, which is the most popular chart type for traders. Each individual candle represents price action over a certain period of time (time frame). For example, each candle on the H1 time frame contains information about the open price, close price, high price and low price for that period. You can change the time frame of the chart by right-clicking on the chart and selecting Time Frame. By selecting multiple time periods, you get a more comprehensive picture of short, medium and long term price developments. On the left side called “Market Watch” you will find several currency pairs that can be used for trading, namely EUR/USD, GBP/USD, USD/CHF etc. When you click and drag (click and drag) a currency pair to the top of the price chart screen, the movement of the currency pair is immediately displayed. Under “Market Watch” is “Navigator” which contains account information and some additional features that can be similarly added at the top of the price chart. Finally, at the bottom of MetaTrader there are several tabs where you can view transaction reports, trading history, get the latest news, get news from forex brokers, etc.

-MetaTrader 4 VS 5, which is better?

Forex traders have several ways to determine which trading platform to use. The choice of trading platform has a great influence on business profits and losses. But you need to know that the trading platform is very closely related to the forex broker you choose, why? Because not every broker always offers a different trading platform. For example, you want to use MT4, but the chosen forex broker doesn’t offer MT4 and has a different trading platform, so you can’t use MT4. In 2010, Metaquotes Software Corp released its next generation trading platform, MetaTrader 5 or MT5. There are marked differences in the trading conditions of the two, although the MT4 and MT5 interface pages are very similar. Many traders today prefer MetaTrader 5. Why? Since MT5 has several advantages that its predecessor MT4 did not have, what are the advantages of MT5?

MetaTrader 4 VS 5, which is better?

Forex traders have several ways to determine which trading platform to use. The choice of trading platform has a great influence on business profits and losses. But you need to know that the trading platform is very closely related to the forex broker you choose, why? Because not every broker always offers a different trading platform. For example, you want to use MT4, but the chosen forex broker doesn’t offer MT4 and has a different trading platform, so you can’t use MT4. In 2010, Metaquotes Software Corp released its next generation trading platform, MetaTrader 5 or MT5. There are marked differences in the trading conditions of the two, although the MT4 and MT5 interface pages are very similar. Many traders today prefer MetaTrader 5. Why? Since MT5 has several advantages that its predecessor MT4 did not have, what are the advantages of MT5?

Best advice to start become trader using MetaTrader

  • Choose the time that you think is right

MetaTrader 4 only offers charts in nine time frames, but MT5 can display 21 time frames starting from M1, M2, M3, M5, 0.10 and so on up to the annual time frame.

  • There is a financial calendar

Are you a trader who likes to trade during important announcements? Or vice versa, avoiding the market when important news is published? Well, this calendar is the main need of a businessman. This feature is not available in MetaTrader 4 but is available in MT5 which provides this calendar to help traders complete impact metrics, forecasts and past notes. Therefore, you no longer need to browse platforms just to read the latest news.

  • Provides 100 charts and 38 technical indicators

Indicators are of key importance in any trading environment. Well, MT5 offers 38 technical indicators and also offers more built-in indicators than MT4 or any other trading platform. A wider selection of Moving Averages, Oscillators and Custom Indicators can be found in the More menu on the MT5 toolbar. Traders can also open 100 charts simultaneously. A tick chart trading feature is also available which clearly benefits traders and scalpers who prefer low time frames or swing traders. Even if you want to buy indicators from the MQL website, you can easily and conveniently access them directly from the Market tab in MT5.

The advantages of MT5

The advantages of MT5 More time frames Metatrader4 only provides charts in nine time frames, but MT5 can display 21 time frames, starting from M1, M2, M3, M5, M10 and so on up to the annual time frame. In addition, traders who download and install Metatrader5 can open 100 charts simultaneously. The tick chart trading feature is also available. This is clearly very profitable for traders, both scalpers who like low timeframes and swing traders. Forex calendar Do you like trading news? Or vice versa, do you prefer to avoid the market when important news is released? forex calendar has become an important requirement for traders. This feature is not available on MT4, but MT5 offers this calendar as part of the platform which includes performance metrics, forecasts and historical logs. Therefore, you no longer need to be too confused browsing platforms just to read the latest news. Other Technical Indicators As we all know, indicators are an important part of any trading environment. Therefore, MT5 spoils you with more built-in indicators than MT4 or other trading platforms in general. If you look at the menu in the “More” option on the MT5 toolbar, you will find a wider selection of moving averages, oscillators, and custom indicators. In fact, if we want to “buy” the indicator on the MQL website, we can use it from MT5 directly in the “Market” tab, simple and practical.

Disadvantages of MT5

However, behind these advantages there are significant differences in the default settings of MT5 compared to MT4, making it a double-edged sword. The programming languages that have been designed to create EAs for MT4 and MT5 are very different. MT5 comes with an MQL5 wizard that lets traders create their own EA. However, the programming language which is different from MT4 makes people have to relearn how to make EA from scratch. In addition, many Expert Advisors that can be easily used on MT4 do not work on MT5. Then one of MT5’s most regrettable is related to its default configuration which follows the FIFO (First In, First Out) principle and does not allow hedging. In fact, MT4’s default settings allow hedging, and FIFO is only applied if the broker chooses to apply it. The principle of “First In, First Out” refers to the execution process carried out by US brokers according to the direction of the regulator, NFA, in the form of certain conditions when opening trading positions in a currency pair. The rules state that when a trader opens multiple trading positions in the same currency pair, the first position opened is the first position closed. These regulations expressly prohibit the execution of hedging trading strategies and, in addition, non-US brokers generally allow traders to engage in hedging.

What broker that make the MT5 become long term condition

  • GKInvest

GKInvest is a trusted local broker with Bappebti regulations and a full license. This broker guarantees the comfort and safety of its clients’ trading by offering various accounts and the latest trading platform, MetaTrader5 (MT5). Apart from that, GKInvest also offers MT5 Booster which can make it easier for forex traders to track several trading positions on different currency pairs.

  • Victory

Victory International Futures or commonly known as VIF is one of the leading forex brokers in the archipelago which continues to update its services. Apparently, today this broker has implemented the latest and most up-to-date technology, namely the MetaTrader5 (MT5) trading application. Headquartered in Surabaya, this broker offers segregated account services, so that the security of clients’ trading funds is much safer.

Tips for using MetaTrader 4 on Android smartphones

The best MetaTrader 4 forex broker app for Android allows traders to easily play forex on a smartphone or tablet. Compared to the main version used on PCs, this mobile version is simpler because it is designed to support practical, simple yet effective business needs.

Here we provide some tips on using MetaTrader on an Android phone:

  • Select the desired platform

The WebTrader version of MetaTrader 4 (MT4) is widely offered by brokers and can be used with greater flexibility. However, this program does not have a multi-account login feature like Android’s MetaTrader 4.

Although MT4 WebTrader has richer features regarding appearance, chart menu order and other parameters, Android MT4 is superior and convenient. Traders should choose the type of platform they need: Android MetaTrader 4, which is easier to use and has multiple account logins, or MT4 WebTrader, which offers more features but feels less comfortable than trading on a mobile screen.

If you want both, traders can look for brokers that offer both of these platforms at once.

  • Familiarize yourself with Android MT4

The key to success playing Forex on Android is knowing this application well, including its features and navigation. Study well the display of charts, the indicators provided, placing orders, editing positions and the functions that must be used to support smooth trading. Don’t rush to use MetaTrader 4 Android to make real trades without knowing the details.

  • Learn how to do basic technical analysis

There is no way to add custom indicators or EAs (Forex Robots) on MT4 Android, so traders rely on the technical analysis focused tools and indicators available on the platform. This leads to trading strategies that are limited to analytical methods using basic indicators. So MetaTrader 4 Android is not suitable for traders who rely on indicators or EAs. 4. Minimize indicators on MT4 Android
In a trading system using Android, you should only use basic indicators such as moving averages, RSI and the like. Don’t mix too many indicators at the same time as they are not compatible with trading on smartphones. Instead, focus on trading strategies without indicators, such as price or chart analysis.

  • Support trading with fundamental analysis

Complete trades on Android by closely following fundamental news. Technical analysis and order execution can be carried out via the MetaTrader 4 Android platform, and basic updates can be carried out via the Forex website in your favorite browser.

Read various forex education articles on Indovestory which can help you understand the basics of forex trading. Including news, analysis, exchange rates, trading conditions such as exchanges, payables, stops and so on.

Here’s a tutorial on how to use MetaTrader 5 as a demo account on an Android smartphone:

  • Install MetaTrader 5 by searching the Play Store. You automatically have a demo account for Forex trading. A demo account is an account that uses only virtual money and works for practice only.
  • Then select the indicator that will be used for technical analysis of the candlestick chart. You can ignore too many indicators to simplify the candlestick chart, e.g. B. Bollinger Bands, Moving Averages, MACD and so on. The “Quotes” menu is a list of currency pairs (major/minor) and is available with ask (right) and buy (left) prices. The ask price is the price of your base currency and is always higher than the bid price. The bid price is the price obtained by selling the base currency. Then select a currency pair and click “New Order”
  • After clicking the order, the Trade tab will appear automatically and show the price movement, so you can see open positions at any time.
  • To close or edit a trade, press and hold the open trade until the options appear. Then select Close Location or Change Location.
  • After pressing the close button, the trade will be closed and the profit amount will be credited to the account.
  • If you also want to see a candlestick chart, select the “Chart” option to view technical price action. There are also period dates M1, M5, M15, H1, H4, D1, W1, MN.
  • You can also open a store from the Map tab by clicking the Stores button.
  • See also the other menus available in the MetaTrader 5 application to better understand how to technically analyze forex trading. The slight difference is that you use a real account that is registered with a futures broker and uses the margin that you deposit.

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