MetaTrader 4 – Features and Functionality of the Popular Platform
Forex trading can be a profitable business today. Therefore, many users are thinking about how to start a cryptocurrency business. First of all, it is necessary to cooperate with a quality broker offering the best trading platform. According to statistics, 1/3 of forex prime brokers use the MT4 platform. Integration with this MetaTrader generation is a functional and convenient solution for traders. A new user gets access to various important instruments, and the broker attracts a large number of clients thanks to this solution. Obviously, MT4 has a number of important features that make the platform a great choice. Let’s talk about this.
Usability and Main Functions of MetaTrader4
For the first time, this product appeared on the Forex market in 2005. It was a radically new platform with a powerful base and fairly flexible functionality. For example, MT4 allows both beginners and professional traders with specialized knowledge to trade. Moreover, the entry threshold is minimal. So it will be easy for beginners to figure out how to start a forex business. The main menu offers functions such as:
• File. This function gives access to settings, and also allows the user to work with profiles (login, logout, account change);
• View. Thanks to this feature, the trader can access various toolbars;
• Insert. Allows you to add various indicators, lines, and other signals to the chart used by the trader;
• Charts. Thanks to this function, the client manages his charts and sets parameters for them;
• Service. Access to service settings. Also, the function makes it possible to make transactions;
• Window. The window allows you to watch the charts;
• Reference. Valuable information for the user: various tips, analysis of the trader’s actions, and other useful data.
If we talk about MT4 in numbers, the platform offers nine different timeframes, more than two dozen different analysis tools, and thirty signals. Flexible settings and the possibility of combinations allow you to create the most convenient environment for a trader, which has a positive aspect on his effectiveness.
MetaTrader4 and Order`s Types
The MetaTrader4 platform gives the user several basic formats for making deals. This is the standard buy/sell type, as well as pending options (buy and sell stop orders, stop loss, etc.).
The first option is the instant sale of assets (stocks, metals, crypto payments) at the current rate. The second option (pending orders) is the conclusion of a deal at the moment when the price meets the specified conditions.
Also, MT4 has several options for making deals: instant and market. Thanks to additional settings for stop loss, take profit, etc., the client can add additional conditions and achieve maximum accuracy. Of course, MT4 gives brokers ample opportunities. But the liquidity provider itself decides what tools are needed at the moment.
Great Decision for Brokers, Who Want Start a Cryptocurrency Exchange
MetaTrader4 gives great opportunities for both traders and brokers. Due to its advantages, companies receive many important benefits when creating a cryptocurrency exchange.
• Access to statistics and CRM system. Thanks to access to multivariate analysis, the company can offer the best conditions to its clients and become the best white label cryptocurrency exchange in the segment.
• Connecting additional plugins allows you to add those functions and innovations that are needed now. This allows the platform to be improved, allows accept bitcoin payments, etc.
• MT4 allows you to add news from different channels (Reuters, Bloomberg), which is very convenient for traders. After all, they get access to important information and can learn more about various updates and innovations.
In case you are thinking about how to create a cryptocurrency exchange, then you also need to pay attention to the economic aspect. The average MT4 cost is around $ 100K. This is the license price excluding content. B2Broker is one of the best white label trading platform offering the best terms. Thanks to cooperation with the platform, the client can significantly reduce costs, increase efficiency and attract new users.