Meta Trader is an electronic trading platform widely used by online retail foreign exchange speculative traders. It is very safe and reliable. Meta Trader was developed by MetaQuotes Software in 2005. There are two versions of Meta Traders as MT4 and MT5. The software only designed for forex traders and the software is licensed provided to foreign exchange brokers for their clients. The software is consists of two parts:
a) Client Component: the client software is provided to the broker’s customers so that they can see live streaming prices and charts and place orders as well as manage their accounts.
b) Server Component: The server component is only authorized by the broker and the broker will be able to manage or monitor their customers’ activities as well.
The software that connects to the different trading platforms in the forex markets and allowed to trade in them through devices. This is device and platform independent user can use in computer, tablet, ipad or mobile as well. In other words, Metatrader is the link between brokers and customers. You can choose your Forex Traders through this software and provide an opportunity by which the customer wants to trade. More so this it is compatible and updated with the Forex Platform.
Metatrader is free and very fast and light weight software by which you can be downloaded to your device instantly such as desktop, laptop, mobile, ipad, iphone so on from its official website and allow you to perform operations quickly. Meta Trader also allowed you to configure to stop loss, pending and trailing stop order and maximize profits.
In addition to, you can make use expert advisors; they will trade for you automatically by using the best investment strategies. More so, that also offers you a transaction history to help you so that you can see all the movements your previous activities, your positions you, generate more effective strategies for your future transactions.
It is very dynamic and ideal for foreign exchange traders to watch market fluctuations through speculation as well as opening up of opposite positions. MT$, MT5 both versions are for all types trading such as bonds, indexes, stocks, metals and commodities.
|Features||Meta Trader 4||Meta Trader 5|
|Programming language used||MQL4||MQL5|
|Number of orders executed||3||4|
|Number of pending orders||4||6|
|Ease of use and navigation||Very easy||Somehow difficult|
|Number of indicators||30||38|
|Availability in brokers||Very high||Not very high|