Who Owns the Metatrader 4February 12, 2019
This is actually an easy answer. It is the Retail traders who are
using the Metatrader 4. Why do they use could be the next question that we can
ask ourselves. Here are the reasons:
- Metatrader 4 is available at
all the major retail forex brokers. This means that if you have a strategy
based on MT4 then you can simply move from one broker to another without affecting your trading strategy.
- If you google online about
indicators and expert advisors based on Metatrader 4; then you will end up
millions of results. The Internet is full
of mq4 coded indicators and expert advisors.
- Programming services of
Metatrader 4 are the most affordable prices when compared to development prices for other platforms such as
MT5 or CTrader.
- It is user-friendly for the typical people who have no information about coding. Newbie traders can get used to
the Metatrader 4 very easily.
- It has strategy tester inside
the platform. This will give you the ability
to do the backtest your strategy. However,
note that the backtest may give healthy results. We will explain it in future
- Traders who do not know coding can simply use lots of
indicators which they find online and play with their settings to find their
own strategy. If they use other platforms they will not have enough indicators
- The platform itself has lots of
user language options. This is the main advantage
for the people who do not know English.
- It has lots of currencies and
indexes in its charts section. This will give an
the opportunity for the trader to choose what to trade.
- Because it is an old program
(built in 2005) it requires low resources from your computer. But one of the
bad parts of the MT4 is that it is built
for 32 bits. Currently, most of the
computers are based on 64 bits. Being in 32 bits will prevent the MT4 to use
the full potential the processing of your
- It has many timeframes options
which will give you the opportunity to navigate between different timeframes to
check your strategy. Some strategies can work better at higher timeframes.