MetaTrader 4 is the most in-demand platform for Forex financial instruments trading. This platform is fitted for traders of all skill levels because of its impressive functionality. MetaTrader 4 offers advanced tools of technical analysis, mobile and algorithmic trading, Trading Signals and much more, hence, considered as a flexible trading system. Forex trading will become a success by using all these features.
Foreign Exchange (Forex) Market
Forex is an international currency trading market being outstanding in its trading volume compared to all financial markets. Banks, institutions, funds and private investors trade (buy and sell) daily different currencies that are equivalent to trillions of dollars and this value is increasing. Forex trading is conducted through international information networks 24 hours a day.
Currencies such as USD (United States dollar), JPY (Japanese yen), GBP (Pound sterling), EUR (Euro), CAD (Canadian dollar), CHF (Swiss franc) and AUD (Australian dollar) were deemed as most popular in Forex. GBP/USD, USD/JPY, EUR/USD, and USD/CHF are the most popular currency pairs for trading in Forex. These are called as majors exchange rates of one currency in opposition to another. For example, USD/JPY 108.086 means that 1 USD costs 108.086 JPY.
On the other hand, there are less popular currency pairs that can also be used for assumptive trades. Assumption is the core principle to have profits from Forex which is to buy low and sell high. For example, buying a USD/JPY today at a price and selling it 6 months later for a higher price, that will earn a profit.
Choose a broker and download MetaTrader 4 for free to become a trader and begin trading in Forex. The broker gives access to the market while the trading platform which is the MetaTrader 4 allows to analyze quotes and perform trades. Before starting a live account in a broker, first open a demo account in MetaTrader 4 for a trial and trade virtual money to have a better understanding of the basic concepts of Forex trading.
The technical analysis tools such as various analytical objects and technical indicators are used to predict directions of quote movement. The accuracy, reliability and efficiency of analytical algorithms and tools varies depending on the market conditions. For an instance, during strong price movements, trend indicators are most effective.
Using market or pending order, trading operations in Forex are performed. Orders are the trade requests to perform promptly or when a certain condition has met. These requests are sent to the broker.
Mobile Trading allows the trader to analyze markets and trade the same manner as using the desktop version. It only differs that the trading was performed using a smartphone or tablet connected on the internet. It is more convenient especially to someone who is always on the go or travelling.
Algorithmic trading makes a full automation of analysis and trade orders. Traders are completely free from the burden of routine work. The traders systematized their trading strategies transforming them into trading robots that trade automatically.
Through these great opportunities, MetaTrader 4 has become the most in-demand Forex platform.