Let’s go through some advantages of MT4 to understand why it’s still relevant for Forex traders to use it among lots of trading platforms.
Though new technologies are taking over the world and creating opportunities for traders of all types, many still prefer to trade on Metatrader 4. What makes this so? Why do so many still use the Metatrader 4 after all these years? We will try to answer this question by introducing you to the advantages of the latter.
Main advantages of MT4
- Let’s go through some advantages of MT4 to understand why it’s still relevant for Forex traders to use it among lots of trading platforms.
- Multi - Devices - trading is easier when the platform and the instruments are always at hand. The platform developer took care of that and made the Metatrader 4 multi-device. It is possible to download MT4 for PC as well as on mobile phones.
- Designed for Forex trading - take to attention that Metatrader 4 was developed namely for Forex traders. Metatrader 4 was designed with the goal of catering to forex traders' needs. It's no wonder then, that this platform has become so popular among them and Forex brokers alike! Note that the biggest part of Forex brokers offer MT4 instead of any other trading platform, which one more time proves its efficiency.
- Multilingual - it is very suitable for traders worldwide to trade on multilingual platforms. Fortunately, the Metatrader 4 supports this function making everything easier as it can be.
- High security support - the trading platform is known for its high standards of security. The double encryption on MT4 ensures that your transactions will be safe and secure.
MT4 vs MT5
You should research and compare different trading platforms to find the one that best suits your needs. Competition between Metatrader 4 vs 5 is something else you need to take into account while doing it.
Many traders leave MT4 replacing it with the new one. Anyways, the amount of traders that prefer trading with MT4 are still more.
If you try to compare the interface of these two, you will understand that it is quite the same: both are simple in using. The main difference is the programming language the platforms use.
Anyways, even with the more powerful programming language, MT5 doesn't catch up with its popularity with its main competitor.
Why are Forex traders still trading with MT4 in 2022?
As you can see, Metatrader 4 has plenty to offer and it's been around for over 15 years. But the demand among Forex traders is high due not just because there are so many features but also how trustworthy this platform feels like when trading on them. So as an addition we would like to mention not its assortment of charts and indicators but the trust among the traders.
The Metatrader 4 trading platform is one of the most popular and trustworthy on offer. It would not be so useful or reliable if traders didn't trust it enough to use, which they seem satisfied with since lots other brokers also provide this service - HotForex included.
It is known that there would be no demand if the product won’t be trustworthy. Well, there is no such problem with Metatrader 4. It wouldn’t be as usebale and popular as it is now if traders didn’t trust it. Besides, lots of competitive brokers such as HotForex offer Metatrader4, which reinforces the trust in the trading platform.
The potential consumers mostly give their preference and trust to the products that are already popular in the market and have high demand for them. That’s why the Metatrader 4 doesn't lose its demand and is still attractive both for beginners and experienced ones.
Conclusion
With the help of the article we introduced the main features and advantages that MT4 offers. It has been a popular and trusted platform for Forex traders since it was released. This popularity can be attributed not to its efficient features, which have made this software an essential part of many trader's toolkits today, but with the trust of traders that it worthed throughout the years.