For exchange execution, trading orders are processed by the exchange instead based on the current depth of the market. ECN trading allows the trader to get access to the actual pricing of instruments as set by the banks and liquidity providers, rather than relying on the broker to set the price. Fabricio Braz September 27, The Journal tab will now feature older entries first before new ones. Using the desktop client, the following features can be put to use by the trader:
Why should you pick a regulated forex broker?
With the MT4 trading platform being the industry standard, it is a strong reason for you to stick to a trading platform that is already proven and widely accepted. Although the trading platform can seem complicated, there are plenty of websites on the internet which can provide support and knowledge on tapping the full potential of the MT4 trading platform.
In fact, the popularity of the MT4 trading platform is a real life testimony of the benefits that traders can derive from this platform. As mentioned earlier, most forex brokers in the industry offer the MT4 trading platform to their traders. So the key to selecting the best MT4 broker to trade with then should be based on other factors such as customer support, the spreads that are available as well as other value added services which the broker is able to provide. For example if the internet services in your area is unstable or unreliable and you wish to run EAs, you might want to consider forex brokers that offer VPS services as part of the products and service offerings.
This helps you to minimize the chance of downtime due to your unstable internet connection. No trading software in the world is perfect and each is bound to have its own strengths and weakness. The same goes for the MT4 trading platform. While MT4 have numerous advantages, it also comes with its own weakness. Surprisingly despite the fact that the MT4 trading platform has been around for more than a decade, it is still the most popular trading platform around in the online forex trading industry, even with all of the latest technological innovations.
This trading platform has proven that it is unequalled in the entire industry. Here we have pinpointed the ultimate brokers offering the MT4 platform. Best MT4 Brokers This page may not include all available products, all companies or all services. What is MetaTrader 4 MT4? For market orders, they can be in the form of market execution, instant execution, exchange execution or request execution: With market execution, trades are executed based on the market price rather than what is displayed on the trading platform.
This is in direct contrast to instant execution where trades are executed at the price which is displayed on the trading platform.
For exchange execution, trading orders are processed by the exchange instead based on the current depth of the market. Finally with a request execution order, traders are able to carry out a market order with a 2 step process. First of all, a quote is requested by the trader, upon the system receiving the quote gives the trader a few seconds to decide if he wants to proceed to the second stage which is to execute the trade. Although decisively slower than other types of market orders, request order offers traders certainty in the price that they will get.
However, the trade-off will be a slower execution pace. Although most brokers will offer their traders at least one version of their MT4 platform, the MT4 actually comes in several versions which are: However, its popularity can largely be attributed to the following reasons: User Friendly Interface The interface of the trading platform is well designed and enables traders to trade the dynamic forex market with a minimum of fuss. Support Multiple Languages Because the MT4 trading platform is able to support dozens of languages, traders from all over the world will have no difficulties in operating the MT4 platform in their own native languages.
Advanced Charting Package For forex traders, one of the tools that they rely on extensively to help them analyze the forex market is the price chart.
Expert Advisors EAs The most defining feature of the MT4 trading platform is its ability to support automated trading through the use of expert advisors. Built in Communication Tool The MT4 also comes integrated with an advanced communication tool that let forex brokers post messages to traders in real time hence eliminating long email threads.
Highly Customizable The MT4 is also highly customizable and traders may change the look of the trading screens to suit their individual preferences. Why should I choose a MetaTrader forex broker? How to choose a MetaTrader broker? Pros and Cons of MetaTrader No trading software in the world is perfect and each is bound to have its own strengths and weakness.
Advantages of MT4 Easy to deploy Free Trading Software Lots of third party support Widely adopted by hundreds of brokers around the world Good charting package Option to add Expert Advisors EA MT4 is very common around the world and therefore there are many guides and support for its users Disadvantages of the MT4 Platform Custom time frames unavailable for the charts MQL4 language is not bug free MQL4 language only applicable for trade related programming Unsuitable for high frequency trading operations Conclusion Surprisingly despite the fact that the MT4 trading platform has been around for more than a decade, it is still the most popular trading platform around in the online forex trading industry, even with all of the latest technological innovations.
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FX Empire may receive compensation from the companies featured on the network. We have made your choice easier by listing the top MT4 Forex brokers. All of them have been tested and reviewed by our Daily Forex team and we present them below so you can make an educated and informed decision. FXCM was listed among the fastest growing companies by Inc.
It is regulated and licensed in each of them. UFX, founded in , is one of the leading brokers in the Forex industry. UFX is a well -rounded Forex broker. The platform is user-friendly and the features are numerous. UFX can be accessed on Facebook and there are often interesting promotions offered through this social media venue. This should not constitute as advertisement in the territory of Belgium, France and Netherlands. It is a member firm of the London Stock Exchange and offers multi-asset and multi-market derivatives through CFDs and spread betting products to individuals and institutions based in Europe and other locations.