*UK taxpayers only. Please note that tax treatment depends on your individual circumstances and may change in the future.
MT4 is the abbreviation for MetaTrader4. It is primarily used for financial market analysis with EAs (Expert Advisors), and for trading Forex. MT4 is fully equipped to handle all forms of mobile trading on Android and iOS devices. MetaTrader4 is arguably the world’s most powerful Forex trading platform, and it utilizes market analysis, and trading signals to boost the platform’s abilities.
Today, millions of traders around the world use MT4 for Forex trading. It offers a wide range of features such as algorithmic trading, advanced analysis, and it is suitable for novice traders and professional traders alike. Market and Signals are the latest innovations available to clients on the MT4 platform.
MT4 was designed by MetaQuotes Software for the purposes of CFD trading, Forex trading, and futures markets. There are 5 distinct sections on the MetaTrader 4 screen. Traders will notice 4 default price charts; however, clients have full customization with respect to the number of charts available.
The Toolbars on the top of the screen are filled with icons. Various FX pairs are visible in the Market Watch window, including bid/ask prices. The Navigator Window is located beneath the Market Watch window. Traders will see their accounts listed there, including Scripts and EAs.
To place a trade, clients will use the Order window. Next, click on and FX pair from the Market Watch window and select the new trade option. There are many ways to place an order. It’s best to practice on the MT4 platform to see your range of options, including take profit, stop loss, adding comments etc.
Pending orders include Sell Stop, Buy Stop, Buy Limit, and Sell Limit. As soon as you have opened a position, it will be visible in the Terminal. Orders can also be modified with things like trailing stops. Trades will close out once the price level hits the stop loss, take profit or trailing stop. Positions can be closed by clicking on Close Order.
MT4 platforms are tailored to personal computers (Linux, Mac OS, and Windows) as well as Android and iOS smartphones and tablets. There are many inherent benefits of using this powerful trading platform, including mobile trading functionality, a large and growing community of traders, automated trades, trading signals, web trading, and the prestigious MetaTrader market.
Market is a terrific resource on MT4, where traders can buy indicators and robots from the platform, and enjoy some 2,100+ technical indicators and 1,700+ trading robots. Signals offers 3,200+ commercial and complimentary signals on the website for traders to copy successful traders (social trading).
The most important aspects to consider when choosing a broker using the prestigious MT4 platform are regulation and compliance. Once you have selected a CySEC or MiFID broker for example, issues such as account types, margin, leverage, spreads, and commissions should be factored into the equation.
Be sure that you can afford the initial deposit amount. The range of financial instruments (Forex pairs, commodities, indices, stocks etc.) is equally important. Given that MT4 is the world’s finest Forex trading platform, many brokers using it are already licensed and regulated, and held in high regard by traders.
At iForexTrader, all of the featured UK Forex brokers are highly rated by traders. Feel free to browse them at your leisure.