By late 2019, forex trading using the Australian dollar had increased by more than 100% since 2001. In those years, MT4 Australia became a handy platform for those looking to make forex trading convenient for themselves.
MetaTrader 4, or MT4 for short, was created in 2005 by MetaQuotes Software Corp. A multi-asset trading platform, it allows users to trade forex, CFDs, commodities, stocks, and indices. Forex traders rely on its many capabilities, which have become a standard in online forex trading.
For many years, reputable firms have offered MT4 as an alternative to their unique trading platforms to clients.
Here are four reasons why MT4 is one of Australia’s most popular trading platforms.
Compatibility
Despite being built for Windows, downloading MT4 on the Mac OS is pretty simple. Moreover, brokers today offer super easy packages to install onto an iOS device. All users need to do is run a compatibility layer.
In addition, traders may access MT4 Australia from various devices, including smartphones, tablets, and desktop computers, allowing them to trade even while on the move. The mobile version includes all of the features available in the desktop version.
This includes:
- Interactive charts
- Full range of orders
- Technical analysis tools
- Push notifications
- Chat capability
The MT4 platform is suitable for today’s young, gadget-obsessed market players.
Encryption and safety
MT4 is often recognized as a very safe and dependable trading platform. The platform enables
- RSA digital signatures.
- Encrypts data flow between user terminals and servers with a 128-bit key.
- Masks merchant IP addresses.
- The platform’s high speed of transaction execution and stability allows trading with minimum negative slippage.
These features allow traders to conduct financial transactions in a safe atmosphere. Users can then rest easy knowing that their trading accounts are safe from cyber attackers.
Automation
Expert traders could use MT4 Expert Advisors to implement automated trading strategies. Automated trading enables traders to profit from market fluctuations without human intervention. Furthermore, traders can use the MQL4 Integrated Development Environment to construct their own EAs and technical indicators.
Customized EAs have helped skilled traders in developing and deploying their strategies. MT4 also allows traders to monetize their techniques by publishing them on the MQL5 codebase, letting them profit off their coding abilities.
Customisability
There are several execution modes and various types of trading orders are available on MT4. This allows traders to design and apply their strategies.
When placing orders, MT4 allows two market orders and four types of pending orders, along with 30 built-in technical indicators and nine timeframes to select from. Furthermore, it allows three trade execution mechanisms providing traders with a significant degree of freedom.
Moreover, the platform allows users to change MQL4 language Scripts, advisors, and indicators using MetaEditor.
Closing thoughts
A valuable and versatile trading platform – MT4 Australia is still a widely used tool by many. Its compatibility, functionality, and safety make it a lucrative tool for anyone looking to use it long-term. Moreover, it is highly stable, a crucial aspect of trading.
Therefore, even as newer platforms emerge, people remain faithful to MT4. Furthermore, with brokers developing newer, easy-to-install packages for different Operating Systems, it remains as popular as when it started.
