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