MT4 Bitcoin Platform
The best bitcoin trading platform is MT4 software. This is one of the most common bitcoin platform which is used almost by every other trader as well as almost every online broker.
In this guide we shall explain the MT4 Interface so that beginner traders wanting to start learning this Bitcoin charting software, can then begin from this tutorial.
Best Online Bitcoin Software - MT4 Workspace
Form the above image of the this software there are several tool bars as well as chart window panel.
You can download this online bitcoin trading platform from your broker's website. Now after you download it, then you'll need to learn one or two things about this bitcoin trading platform:
The first thing is how to setup this bitcoin trading software after you download. For example if you download the MT4, you will need to go to a crypto broker first, register for a practice trading account then after you sign up for a demo cryptocurrency account you will be provided with a link where to download the MT4.
Now once you download this bitcoin trading platform, assuming you don't know much about Desktop computers, Open your Web Browser >>> Go to tools at the top left corner of your browser next to 'file', 'edit', 'view' & click on tools, select download folder location, (shortcut: once you open your browser click CTRL+J or CTRL+Y), a download popup will appear with links to downloaded items. Choose the software that you have just downloaded.
Installing MT4
To setup this software after you've downloaded, open the download from where you downloaded, from there an setup wizard pops up and all you have to do is to follow the installation instructions. After setup the platform will run automatically just like any other software. Read guide How to install MT4 platform.
You can open MT4 from the start menu>>> Programs or from the desktop shortcut that pops up as a desktop icon marked MetaTrader 4 after setup.
Demo BTCUSD Trading Account Signup & Log-in
To open an account on MetaTrader 4 just click on 'file' & then on open an account, to login to an account just click on 'file' at the top right corner & click sign in from the drop-down menu that pops up.
Once yousign in to the platform you will get access to charts & other technical analysis tools such as technical indicators that you'll then use to place trades within the btcusd trading market while connected to your crypto broker's servers.
Bitcoin Platform Menu Bar & Toolbars
Menu Bar in MT4 for Navigating within the Software
Menu bar is used to operate and navigate this bitcoin platform from one single panel. From this panel you can set how to view tool bars, chart, data window & even use the file tab to open a cryptocurrency trading account - and also sign in to your account.
Form the menu bar you can click on view tab & choose toolbars like in the above pictured image, these menu bars can be used to set up charts, indicators, time frames, and others things like drawing bitcoin trend lines and Fibonacci retracement levels and Fibonacci expansion levels. To learn how to customize this platform go to this MT4 Bitcoin Platform Tutorial Section.
Now that we have looked at the toolbar and menu bar, we shall look at the main workspace interface of the MetaTrader 4 platform - MT4 Bitcoin Software - MT4 Bitcoin Trading Platform.
Best Online Bitcoin Software - MT4
Market Watch window - This window is used to show a stream of the exchange rates that's obtained from your crypto broker. In this market watch window you can right-click anywhere on this window panel to select show all trading instruments or hide the ones you're not interested in and save some bandwidth at same time. No need to have prices for 50 trading instruments if you are only interested in 4 trading instruments.
Data Window - Used to setup Indicators, Expert Advisors & scripts, you can click on any of this menu sub items and expand/collapse the indicators or Expert Advisors used for automated trading.
Charts Panel - This is where the bitcoin trading price moves will be drawn.
Charts Tab - Navigation from one instrument to another is easy, just flip through the charts tab as illustrated above.
Terminal - This window is used to display a statement of your trades, profits & loses that you have made in your live cryptocurrency trading account or demo cryptocurrency trading account. To enlarge this window & view open trades, just hover the mouse on the terminal window toolbar until the cursor pointer changes, click & hold down mouse button key and then move cursor pointer upwards.
Connection bars - These are used to illustrate the connection to the internet, red bars mean no internet connectivity, green bars show there's internet connection.
Exchange Rates Graph - this shows the exchange rates for bitcoin that you're trading so that to display if the exchange rate is going upwards or downwards.
Advantages of MT4 BTCUSD Trading Platform
In cryptocurrency market there are many bitcoin trading softwares available around the internet. But among the top bitcoin trading platforms best bitcoin software is the MT4, it is the best Bitcoin software because of the following reasons:
Low Bandwidth Connection Requirement
Not everyone can afford the best internet connection, the T1, the satellite, ADSL or Fiber Optic internet connection: furthermore, these are not freely available to some residential areas & might be limited to office buildings. This is why it is best to select a bitcoin platform which requires the minimum bandwidth, the MT4. Even with the best connection, sometimes the connection might not be available and you might need to use an alternative connectivity like the dial up or modem. MT4 is the least expensive if you are on a modem. To even reduce further the inter-net band width usage go to market watch (Short cut Key press CTRL+M), Right Click on any instrument, Choose 'Hide all', now the platform will only stream the bitcoin trading price quotes for the pairs you only need and conserve your bandwidth even further. Especially when using a mobile phone or i Pad or a Tablet where you are paying for phone credit this can save your credit. This is one of the reason why the MT4 is considered as one of the best bitcoin softwares online.
The easier it is to connect the easier it's open & close trades on time.
Provided by all Brokers
Another reason why this Bitcoin software is considered as one of the best bitcoin trading platform is because MT4 is liked by most traders all brokers provide it. Once as an investor learns the MT4 platform there's no need to re-learn when you switch to another cryptocurrency broker. You can still use the same MT4 of the new crypto broker without the need to learn a new platform all over again.
Easy Technical Analysis
The other thing that makes this the best bitcoin software is the ease with which you can set up the technical analysis technical indicators on the bitcoin charts. Even those using various web traders will do their technical analysis on MetaTrader 4 and then place their cryptocurrency orders on their web trader.
Technical traders can also install custom technical indicators on this software, making it easier to add more technical analysis tools on to this trading software. Others also install automated EAs on this bitcoin trading platform so as to trade automatically with these programs known as automated Expert Advisor Bitcoin Trading Bots.
Best Charts
The MetaTrader 4 has the best bitcoin platform charts representations available and implements many chart time frames from which a investor can choose.
Simplicity
Overall the simplicity of this software & the fact that any investor can learn how to use MT4 within one hour makes this the best software for new and experienced cryptocurrency traders.
According to bitcoin trading platform reviews of the top bitcoin trading platforms MT4 is the best bitcoin trading platform. Therefore, traders looking for what is the best bitcoin platform can begin trading with the MT4 software as it is the best software and it's very easy to learn.
MT4 Bitcoin Software - MT4 Bitcoin Software - MT4 Bitcoin Trading Platform
