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Metatrader4, or more popularly known as MT4, is a highly customisable trading platform. It was developed in 2005 by MetaQuotes, and since then it is only rising in demand with no apparent sign of slowing down despite the introduction of its more advanced version, Metatrader5, in 2010. Although Metatrader4 is prevalent in the forex trading industry and the majority of the forex community is using this platform to enter and exit their trades, it further can be used in various other financial domains like cryptocurrency trading, commodity market, and more.
Many traders like it primarily for its unmatched performance in automating trading using different algorithms, where it can open and close a trade on behalf of a trader as per certain parameters. There are many MT4 white label provider in the market to choose from; you need to select based on their reputation, customer friendliness, and post-sale support.
Now, there are other platforms like C-Trader and Metatrader5. And while I am not saying that those are worse than Metatrader4, today in this article, I'll tell you why I prefer MT4 over the others. Today I'm going to talk about some basic things about Metatrader4 and will try to explain its benefit over other platforms. So, without further ado, let's get started.
How to download MT4:
Metatrader4 is probably one of the oldest execution platforms for retail traders that exists. C-Trader is old as well, but Metatrader4 always has been, according to many traders, a little bit more comfortable to operate. To download MT4, all you need to do is type in Metatrader4 in your google search, and a bunch of results is going to pop up on the search result. Just click the very first result, and it will direct you to their website.
Now, you can go there and download it, but they're going try to like manipulate you a little bit into downloading Metatrader5. So, you want to make sure that you're downloading the Metatrader4 dmg file only, not anything else. Or, you can download the same from an MT4 white label provider website as well.
MT5 is not an upgrade of MT4; it's different altogether:
First I'd like to clear an urban myth that MT5 is an upgraded version of MT4, while In reality, it is not. Though we can't deny that MT5 is a significantly more feature-rich trading platform, they were created for different purposes. MT4 is mainly focused on forex trading, and it is a very user-friendly platform. It has enormous community support, and most of the leading brokers use MT4 for their business operations. Furthermore, programmers from all over the world have written a massive amount of indicators for MT4 as well.
In the other hand, MT5 can do a lot more than just forex trading ā it can do stock, commodity, and CFD as well. It uses MQL5 as its programming language as opposed to the MQL4 used in the MT4. MQL5 has a unique feature known as "BlackBox" programming that enables developers to have a better and more effective framework while programming trading robots. However, MT5 yet to gain such support from the brokers, traders, and programmers ā therefore, it failed to gain traction in the market that MT4 enjoys. If you're focused in forex trading brokerage only, it's better not to go for the MT5, but get the Metatrader4 from a reputable MT4 white label provider for its unparalleled straightforward approach and broad community backup.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.