For beginning traders, forex can be very psychologically demanding, as it has to make many often difficult decisions. Which broker to start trading with? Which instruments to work with? What to watch out for? This is just a small list of questions that an aspiring marketer must answer. In addition to these answers, however, it is also important to find and choose the right business environment.
From the trader's point of view, this choice does not always depend only on himself, but of course, it is largely a decision of the brokerage company which platform to provide to its clients. However, it must be said that the trading platform has a significant impact on the overall trading and if for some reason the trading environment does not suit the trader, then it may not be wise to stay somewhere, just because of sympathy.
If we stick to the issue of trading platforms, there is one that has become a matter of the heart among traders. Of course, she has MetaTrader 4, which nowadays has such a sovereign position that it is very difficult for many brokers to stop offering it to their clients and provide them with an alternative. Why this is so, let's look at it together now.
Why is MT4 so popular?
Not only the option to choose the installation according to the type of device, but also the intuitive interface, which, as time has shown, suits not only experienced traders but also beginners. After all, thanks to that, they are able to keep up with others to a certain extent.
MetaTrader4 offers a number of language versions, including Czech, which makes work much easier for many and helps novice traders to quickly understand the basics.
In addition to a variety of advanced trading features, the platform also offers the ability to customize charts to best suit your personal needs. In MT4, for example, you can not only change between different types of graphs, but also colors, scales, or period separators.
AOS - Expert Advisors
One of the most advanced features, which allows you to automate not only entire business strategies, but also, for example, only parts of them. This is exactly what fully meets the subjective needs of each individual. It can therefore be said that the possibility of algorithmization and the resulting possibility of automatic trading has a great deal of credit for the success of this platform so far.
MT4 allows brokers to communicate with their clients through a variety of tools. Probably the most important of these is the ability to send messages within the platform, which to some extent eliminates the lengthy and often hated by many users of e-mail communication.
Unlike other professional trading platforms, MT4 is quite simple, not only in terms of size, but also in terms of performance consumption. This enables faster response and almost immediate execution of trades and other requests.
Nowadays, of course, great emphasis is placed on security. The MetaTrader4 platform uses 129-bit encryption along with a hidden IP address to communicate between the trader and the server. This fact provides merchants with a unique guarantee that merchant account information and other data are constantly protected at all times.
In addition to the above, each user has access to many other features with which the platform can be customized to your personal preferences. This includes, among other things, the creation and implementation of custom technical indicators, graphs, scripts and strategies in the highly advanced programming language mql4.
As we said, MT4 is a sovereign platform and these are just some of the reasons why.
If you are interested in trying trading on your own with first-class trading conditions and a professional forex broker, then do not hesitate to try our demo account, which can be set up on our website completely free of charge and without risk here: www.purple-trading.com/en
We wish many profitable deals!
Purple Trading team
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64.6% of retail investors lose their capital when trading CFDs with this provider. This value was determined within the period from 01 January 2020 to 31 December 2020. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading forex exchange with margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could lose part or all of your initial investment and therefore you should not invest money that you cannot afford to lose. Seek independent advice if you have any doubts.
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