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MetaTrader 4

Average Customer Rating: (based on 24 reviews)

(4.1 stars vs. 4.5 category average)

Your Rating: (write review)

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Recommendations by Profile:

Casual Trader
9 of 10 		90%
Intermediate Trader
4 of 5 		80%
Expert Trader
7 of 9 		78%
All Traders 20 of 24 83%

Recommendations by Usage Length:

A month or less
1 of 3 		33%
1 - 3 months
2 of 3 		67%
3 - 6 months
3 of 3 		100%
6+ months
14 of 15 		93%
All Traders 20 of 24 83%

Characteristics:

Pros:
Easy to use, Many indicators, Easy to edit auto trade programs, Web-based, Customizable layout, Ability to customize indicators, Large user base
Cons:
No automated backtesting

Description:

This charting program is specifically made for anyone trading the Forex, CFD, and Futures markets. Used by over 100 brokerage companies and banks, this is one of the most widely used charting packages around. Some of its appeal is its ability to customize and program systems, which then allows users to create indicators, system backtests, as well as automated trading robots.

Single Review: (view all 24 reviews)

Fiske
Fiske

Casual Trader

very flexible and easy to learn

4/17/2009

1 of 1 customers found this helpful (100%)

Pros:
None
Cons:
None
Bottom Line:
Yes, I would recommend this to a friend
Quote:
One advantage of using MetaTrader4 is that, you can put as many indicators as you like (fibo retracements, fibo fan, etc). It’s very flexible and easy to use mainly because they are “more organized” than other charting systems. By “organized”, I’m talking about the columns they have for free margin, equity, price you trade and pips which makes it a lot clearer and easier for me to see my detailed trading record.

Compared to FXCM platform, MT4 actually has individual screens for every currency pair and chart system set-up which means you can set up different systems in different charts. You can even use a robot when executing trades by just setting up your systems.
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