What is MetaTrader?
MetaTrader is a trading platform that allows traders to buy and sell financial assets such as currencies, commodities, stocks, and bonds. Traders can use MetaTrader to buy and sell assets either short-term or long-term, depending on their investment strategy. To trade on MetaTrader, users must first open an account and fund it with money from their trading account. Once the account has been funded, traders can select the financial assets they want to buy or sell, and place a trade. Traders can access and log into their account from any device with an internet connection, including mobile and desktop devices. MetaTrader has been designed for Forex traders and has a clear interface, a wide range of technical indicators, and advanced trading tools that help traders make informed decisions and manage their trading accounts. There are two types of MetaTrader, MetaTrader 4 and MetaTrader 5, which have the same interface and features. The only difference between the two platforms is that they use different types of trading engines. Since MetaTrader 4 uses an old trading engine, it is less secure than MetaTrader 5, which uses a more advanced trading engine with security features in place.
Features of MetaTrader
- A wide range of trading assets to choose from - Users can select from a wide range of financial assets to buy and sell, including commodities, stocks, bonds, and more.
- Transparent and reliable trading platforms - Both MetaTrader 4 and MetaTrader 5 use a secure trading engine that has been audited by independent security firms and approved for use by financial institutions.
- Advanced trading tools - With its advanced trading tools, including a wide range of technical indicators, traders can make informed decisions and manage their risk accordingly.
- Advanced charting tools - With its advanced charting tools, traders can get an up-to-date view of the market and make decisions based on current market conditions.
- Trading via any device - Once users have logged into their trading account, they can choose to trade from any device with an internet connection, including mobile and desktop devices.
- Advanced trading reports - MetaTrader provides advanced trading reports that allow traders to track their performance and make adjustments to their trading strategy as needed.
Security features of MetaTrader
- Two-factor authentication - One of the most important security features of MetaTrader is two-factor authentication (2FA), which is recommended for all traders. It's recommended that two-factor authentication be used when logging into your trading account to trade. The two-factor authentication process requires you to enter a code sent to your mobile device, as well as entering your login details. This process means that even if someone gets hold of your login details, they won't be able to access your account without first getting hold of your mobile device.
- Trading via the secure trading engine - When you select particular assets to buy and sell, you are trading via the secure trading engine. The trading engine is where the actual buying and selling takes place, and it is important to know that it is a secure platform that has been audited by independent security companies.
- Secure cloud storage - Traders can access their MetaTrader account via a mobile app or through a web browser. When trading via the web browser, MetaTrader uses secure cloud storage to store your login details and trading history. This means that if your computer is infected with a virus or hacked, others will not have access to your login details or trading history.
- Data encryption - When you log into your MetaTrader account, your login details are encrypted, which means that if anyone is monitoring your internet traffic, they won't be able to see your login details.
Advanced trading tools on MetaTrader
- Copy trading - Copy trading, also known as mirror trading, is a feature that has been introduced on MetaTrader 5. Traders can select an account they want to mirror and automatically place trades in their account, making it easy to follow the trading strategies of experienced traders and make profits.
- Interactive charting - Traders can make adjustments to their charting settings to get an accurate view of the market, such as changing the chart type, and selecting the right indicators based on their trading strategy.
- Trading alerts - Trading alerts are notifications that are sent to your device when certain events happen in the market, such as when the price of a particular asset has reached a specific price. Trading alerts make it easy to stay on top of the market and make informed decisions based on current market conditions.
Charting tools and technical indicators on MetaTrader
- Indicators - Traders can select the indicators that best suit their trading strategy and view them on their trading chart. Indicators are a great way to spot market trends and make trading decisions based on current market conditions.
- Drawing tools - Along with technical indicators, traders can also select drawing tools to add visual representations to their trading chart. Drawing tools are a great way to visually show the direction of the market, and make it easy to spot changes in the market.
Benefits of using MetaTrader
- User-friendly interface - Traders can log into their account and place trades quickly, thanks to the user-friendly interface of MetaTrader, which has been designed for traders of all skill levels.
- Advanced trading tools - MetaTrader offers advanced trading tools and a wide range of technical indicators that help traders make informed decisions, and manage their risk according to their trading strategy.
- Advanced charting tools - MetaTrader also offers advanced charting tools to get an up-to-date view of the market and make trading decisions based on current market conditions.
- Trading from any device - Once traders have logged into their trading account, they can trade from any device with an internet connection, including mobile and desktop devices. This makes trading on MetaTrader convenient, especially for traders who often travel and don't have access to a computer.
- Trading from any location - Traders can also open their trading account from any location and have access to the same tools and features.
