The Timeless Standard: Why Traders Still Choose to Trade on MT4 Platform and How to Get Started
Over the years, traders gained access to a wide range of platforms. In 2010, MetaTrader 5 came out, with many being excited for it due to its ability to trade both on Forex and the world stock exchanges. However, people still continue to trade on MT4 platform despite it being around since 2005, which goes to show just how good it is.
But why do traders continue to take advantage of this platform even two decades later, despite numerous other alternatives being available? Let’s explore what makes it so special and how to get started with MT4.
Why Is MetaTrader 4 So Appreciated by Traders?
It may sound surprising that two decades after its launch, MT4 continues to attract a myriad of traders from all across the world. But why is it still a favorite? Here are some of the biggest reasons.
- MT4’s Accessibility
MetaTrader 4 is one of the most accessible trading platforms. You can either use it on your Windows computer or choose to trade on an Android or iOS device. This flexibility allows all types of traders to adapt it to their needs, whether they like to trade at home or on the go. What’s even better is that a web version is available at many brokers, meaning you can even trade on a browser, without having to download and install a separate app.
Almost every broker has MT4 accounts too, so it’s easy to get started with regardless of the brokerage.
- Easy for Newcomers
New traders don’t need something complicated. This is why MT4 does so well to this day. Anyone who wants to get started with trading can do it with MetaTrader 4 and enjoy a nice layout that isn’t too overwhelming. The charts, trading history, order panel, and price quotes can be found in the same place. There are also demo accounts to get accustomed to trading and come up with a good strategy.
- Good Reputation
It’s no secret that MT4 has maintained its positive reputation over time. Traders from all across the world leave good reviews and ratings on various sites, such as TrustPilot. It’s a sign that, even after all this time, MT4 meets quality standards.
How to Get Started with MT4?
Are you ready to start your journey with MT4? Here are some steps to follow:
- Find a Broker – Research brokers and choose a trustworthy one. Make sure it offers everything you’re interested in and that it also has MT4 as a trading platform.
- Create a Broker Account – Check what types of accounts the broker offers, then sign up.
- Download and Install MetaTrader 4 – Unless you can and want to use MT4 on your browser, download the setup file and install it. Then, create an account on the platform.
- Start Trading – Choose your currency pairs and open a trade position. You can also modify your trade position. Then, decide when to close the position either manually or automatically.
Conclusion
MetaTrader 4 is still popular due to its openness to beginners, accessibility on various platforms and brokers, and positive reputation. To get started, all you need is to select a broker that has MT4 and offers all the features you’re looking for.
