In forex world, you may be familiar with a platform called Metatrader 4 forex trading. Metaquotes company developed this online platform launched it 16 years ago in 2005. MT4 is used by many traders to make their trading activity easier.

In this case, Metaquotes does not open its own brokerage service but instead sells licenses and leases servers for use with Metatrader 4 to forex brokers. Metatrader 4 has become a favorite online trading platform, because it offers traders a lot of conveniences. There have been many best forex broker that use this platform to help traders.

Traders can make transactions, monitor balances in their account, and analyze the forex markets with a single platform. It’s also available for desktops (PC/Laptop) and mobile applications (Android/iPhone) so that it can be used with almost all the gadgets commonly owned by traders.

Metatrader 4 Forex Trading Components You Need To Know

In order to run smoothly as an online trading platform, it is made with several components. The six main components are:

1. The Server. The broker will control this main part of the platform. This section functions to handle trader's orders, record trade executions, send price quotes, news, and so on.

2. The administrator. This feature will help the IT team to control the server remotely so they don’t have to be in the same location as the server.

3. MetaTrader 4 forex trading Manager is the part used to handle trader's orders and manage trader's accounts. If you send a buy or sell order, the instructions will flow from the Client Terminal or Mobile to the Data Center, then enter this component for processing to the next stage.

4. The Data center, is a special proxy server that bridges the Server and Client Terminal components.

5. The Client Terminal is used by traders to make real-time transactions on live accounts and simulated trading on demo accounts. This software actually can only be operated on Windows 98/2000/XP/Vista/7, but can also be adapted to Linux with Wine and to Mac with WineBottler.

6. Metatrader 4 forex trading Mobile is this part that can be used by traders to manage transactions via mobile phones or tablets that have Android and iOS based operating systems. However, MetaTrader 4 Mobile's features are different from Metatrader 4 for desktop, so you need to be more careful when using them.

Metatrader 4 Functions for Forex Traders

You can certainly get an idea of how Metatrader 4 forex trading works by regarding the six components above. However, you also need to know the various Client Terminal functions that traders use directly. The functions of the Client Terminal include:

1. Shows price charts of various currency pairs, commodities, and indices.

2. Analyze charts using more than 50 technical indicators.

3. Carry out Buy and Sell transactions, through Instant Execution, Market Execution, and Pending Orders.

4. Close open trading positions, manually or by applying Stop Orders and Trailing Stops.

5. View trading history and know the condition of the account balance.

6. Double security through passwords and encrypted transactions.

7. Write and implement scripts for automated trading (Robot Forex Trading) based on the MQL4 programming language.

Metatrader 4 is the first online trading platform to be sold to retail traders and enables the implementation of automated trading (Robot Trading). This is one of the factors that has made it popular all over the world. Didimax forex broker also uses MT4 to make it easier for traders.

Although Metaquotes has released a more advanced Metatrader 5, this new software uses a different programming language (MQL5). Traders who already feel comfortable using Metatrader 4 forex trading are certainly reluctant to move because they have to rewrite the robot script.