{"id":757,"date":"2016-11-21T12:51:25","date_gmt":"2016-11-21T12:51:25","guid":{"rendered":"http:\/\/www.makemoneytradingreviews.com\/?page_id=757"},"modified":"2020-09-21T11:33:02","modified_gmt":"2020-09-21T11:33:02","slug":"mt4","status":"publish","type":"page","link":"https:\/\/www.makemoneytradingreviews.com\/mt4\/","title":{"rendered":"Forex Brokers and the MT4 Trading Platform"},"content":{"rendered":"Forex has always been dynamic, and, from time to time, harsh market, where billions and trillions of dollars are traded daily. Given the astonishing numbers and money, stress is an inevitable part of the whole process. Many broker companies try to make the market as convenient as possible in order to attract a greater number of customers and do their best with offering the latest technologically advanced features which should lift the burden from traders a little bit. The essential and primary tool for trading is the platform, and many Forex brokers try to offer one or more multi-functional platforms for their customers and users. According to statistics, there is a clear winner among the many platforms that have evolved along the rising popularity of Forex trading. Traders need a high-quality platform given that it represents the space of all happenings. The Meta Trader 4 platform has been the best platform for the past several years and still is. Almost all (over 90%) brokers offer this powerful software to their customers. Let us see what the platform really has to offer.<\/p>\n
What is the MT4 and How Does it Work?<\/h2>\n
The Meta Trader 4 is an award-winning and most popular Forex platform in the entire market. Besides a real live account, it also includes a free demo account for beginners. The demo account has become a common thing these days but let us not forget that the MT4 was one of the pioneers of this idea. You can download the software for free from the MT4 website. Install the convenient platform and provide personal information to register. After completing your registration, you will be able to see all the features on a user-friendly interface. Navigation on the MT4 is very simple, and most of the traders get easily used to the platform. If you registered with a demo account, you would be given virtual money to practice your trading skills and to familiarize yourself with the platform and its features.<\/p>\n
The MT4 Interface<\/h3>\n
The Meta Trader 4 has a clear interface displaying two major apps: a market watch app with available currency pairs and the exchange rates on the left and a graphic chart displaying trend and market movements on the right. The chart offers an option to view past movements of currency values which can come in handy in studying the market. Still, traders should bear in mind that data from the past do not dictate future trend movements and that they can only be analyzed and not used as a 100% guarantee for future trades. The MT4 also displays a list of open, pending, and closed trades, showing the difference in pips of the bought currency pair. A pip is usually set at the fourth decimal (e.g. 0.0001), whereas on the Meta Trader 4 platform it is placed at the fifth decimal.<\/p>\n
Free of Charge<\/h3>\n
Traders do not have to pay any fees or commissions for using Meta Trader 4. The platform charges only the spread (the difference between the bid and the ask price). That is how the broker and the platform make their profit.<\/p>\n
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