Compared to other trading software, Metatrader has advantages because it provides facilities for traders to be able to add and create special scripts. (Custom indicators, robots / expert advisors) for their trading needs. No wonder we can find indicator scripts and trading robots easily on the internet.
The metatrader application has many advantages, becoming a favorite trading device for traders and forex brokers around the world. However, the Metatrader application is not made by a particular forex broker, but by a company that develops special devices for forex trading, Metaquotes .
Therefore, for example, when you are accustomed to trading using Metatrader, but do not match the forex broker that we are currently following, then just look for another broker that uses Metatrader. Then we can start trading without having to learn the platform from the beginning again.
Excess Metatrader
Apart from the peculiarities outlined above, there are still many advantages and advantages from other Metatrader. The following include:- Metatrader software supports all PC and laptop operating systems, both Windows and MAC .
- Metatrader is also available in the form of a mobile application can be accessed via smart phones, both Android and iOS.
- Facilitates all types of trading products, be it Forex, Index CFDs and Commodities, or Futures.
- Many language facilities ( multi language ).
- Various facilities, graph variations, and hundreds of technical indicators as a tool for analyzing and trading forex. There are original indicators and graphs that have been provided by Metaquotes in Metatrader, and there are also indicators and graphs that can be created by yourself then paired in the Metatrader of each trader.
- Facilities scripting to add, edit, and program, so traders can modify the function. The goal is that traders can conduct analysis and transactions as comfortably as possible .
- Trading Robot facilities (Expert Advisor) can be added in Metatrader
- This robot can be made from a script that makes transactions done automatically. More interestingly, the EA Metatrader Robot can be found easily on the internet, either free or paid.
- Metatrader already has an internal email system that allows traders to get forex news, messages from forex brokers, etc. when platform opened.
- Ease of exporting data, both in softcopy and print files.
- Metatrader supports a variety of execution technologies: Instant Execution and Market Execution.
- Traders can do various orders, both orders for direct transactions and pending orders. You can also install Take Profit and Stop Loss to regulate profitability and limit risk automatically.
- Metatrader can be included in investment programs and copy trading, such as PAMM and ZuluTrade.
- Good security system , already equipped with encryption and continuously updated regularly.
Where and How to Download Metatrader?
Before downloading Metatrader, we need to know three Metatrader format, namely:- Metatrader format for PC software . In order to be used, the software must be downloaded and installed first on the computer or laptop from the link provided.
- Web-based Metatrader . This one format does not need to be downloaded and installed first. We can open Web-based Metatrader directly in the browser (Chrome or Mozilla Firefox) via a specific URL link.
- Mobile App . The Metatrader mobile application can be found easily on Google Playstore for Android and the App Store for iOS.
Metatrader Types
1. Metatrader 4 platform
Forex traders love MT4, mainly because of their flexibility in adapting to various types of technical indicators and robots made with MQL4 special programming languages. However, a decade later, this platform was considered too rigid and difficult to modify following the latest technological developments. Therefore, Metaquotes released Metatrader 5 as its replacement.
At the beginning of 2018, Metaquotes stopped selling MT4 licenses and will not release new updates for this trading platform. Going forward, Metaquotes will only implement new functions and improvements in Metatrader 5.
2. Metatrader 5 platform
MT5 was released in 2010 in accordance with the latest developments in forex technology. Many people think that MT5 is just the latest version of MT4, because it looks similar. In fact, MT5 is designed to do various things that MT4 cannot do. Among other things, MT5 already has an integrated forex calendar, connected directly to the MQL5 trading signal exchange, and can also be used for trading stocks and commodities. In addition, the programming language for indicators and robots in MT5 uses MQL5 which is different from MT4.
The majority of forex brokers currently provide MT4 platforms (for old traders) and MT5 (for new traders). Examples of forex brokers that provide MT4 and MT5 platforms include: FBS Broker, XM Broker, Exness, and so on.