The stock market always fascinates people with its thrill. On the one hand, they can earn 10 times their investment in one go.  On the other hand, they can just lose all the money and assets they have invested.

Even after that, people are determined to play their luck and keep investing in the stock market. If you are one of the investors active in the stock market, you must have heard of foreign exchange trading.

However, if you are a newbie in the field and need to learn the basics, then the mt4 trading platform is the best choice for you why we shall try to look at that in the following sections.

MT4: An Introduction

Metatrader 4 is popularly known as the MT4 and, as you can guess, is an online platform for forex trading. This software solution was developed and released by MetaQuotes in the year 2005.

Before that, several versions of meta-trading software solutions were released, but this one comes with enhanced functioning. That is why it becomes popular among forex traders in no time.

You may know how trading software solutions work, and MT4 is no different from them. It is licensed to brokers dealing in foreign exchange.

These brokers in turn use this platform for trading and get clients to trade. The broker manages everything manually using the software, and clients will get to know live stream prices.

Also, clients can manage their own accounts and place orders. It is a sort of stand-alone app that can do all tasks all alone.

On this platform, traders will get two kinds of trading orders, market orders and pending orders. In market orders, they can execute trading instantly and have four modes. Pending orders are only executed when the live-streaming prices reach a prescribed level.

How To Open an MT4 Account

In the Forex market, MT4 trading is quite popular, and every day, numerous people select this trading platform. If you also want to be one of them, then you just need to open an MT4 account. For that, just follow the below steps,

Step 1

Firstly you need to install and launch the MT4. You can do it on a laptop, PC, or even a smartphone.

Step 2

After installing this, you need to log in and make setting changes accordingly.

Step 3

You can now see various tabs like new orders, tools, and other things on your screen.

Step 4

Under the new order, you can place orders and manually manage them. You can stop trading, make a profit and even make comments. In new orders, four modes are already mentioned above.

You can choose among them, including instant execution and other sorts of execution.

Step 5

Now you can monitor your positions and close them with the pending orders. For this, you need to press the tab saying terminal. Under this setting, you can close your positions and delete the pending order that you don’t anymore.

Step 6

If you want to modify your stops now, you need to open the ‘terminal’ tab. Under this setting, you can edit the pending orders, limit the position, or add stops to it.

Step 7

Now it’s time to customize the MT4 chart. There is a pretty range available for the users to customize. You can even add various indicators as per your preference and change the timeframes.

Step 8

After all these steps, you are good to start trading forex. Also, you can now download your trade reports, see your trade history, and set up price alerts.

If you want to open your MT4 account, then FXGiants is the right place for that. It will offer you all available MT4 features and let you trade in foreign exchange smoothly.

Why MT4 Is The Best

 Using CFD, MT4 trades in various markets such as indices, commodities, cryptocurrencies, and forex. However, it is different from CFD trading, which MT5 uses.

MT4 offers numerous advantages to users, like

• Firstly, MT4 is the simplest forex trading tool, letting even the new folks trade and earn money.

• Secondly, it has excellent resources and tools that allow users to understand the functions very well. Also, with such tools, they can trade accordingly.
• MT4 is focused only on the forex market; therefore, it is best for those who only want to use foreign exchange for trading.
• In this software, users get 9-time frames and 4 modes of trading, making it very flexible and customizable. Also, it is quick to install and launch and has multi-device access.
• It has robust functions that are better than other trading platforms. with all such features, it stands out among the crowd.

FAQs

1. Is MT5 better than MT4? If yes, how?

MT5 is the new version of MT4 and has tons of features. However, it is not appropriate to say it is better than MT4.

Both of them have their functions, and that makes them different from each other. While MT5 has more customizable options, MT4 is very simple and best for newbies.

2. How many time frames are available in MT?

MT5 comes with 21-time frames that sometimes feel overwhelming for a person that wants to trade in forex. Also, it has 6 trading options, whereas its predecessor has only 4 options.

Therefore we can say that MT5 is made for professional brokers who need more customization and features than MT4.

Conclusion

Online trading is no game today as it is gaining momentum. Earlier, it was thought that only professional and skilled persons could play in the stock market.

Moreover, with the recent development, even the common people can participate in stock trading. In addition to this, they are obtaining the knowledge and skills required for trading through online applications.

Ultimately, you can find people learning and trading using their mobile phones. That is why here it becomes very important to pay attention to it and rip the benefits when we can.

DISCLAIMER: This information is not considered investment advice or an investment recommendation, but is instead a marketing communication