Trading the world’s financial markets can be a challenging pastime, with anywhere between 70% and 80% forex traders losing money.
However, the emergence of online trading platforms provides far greater assistance to investors, by breaking down historical barriers to entry and offering investors real-time access to markets and an entire suite of analytical tools.
Arguably, the rise of automated trading systems has aided investors further, by enabling them to establish specific and predetermined rules for trade entries and exits and facilitate these using algorithms.
But what are the key advantages to utilising online trading platforms, and why is the MetaTrader 4 one of the market leading entities?
What are the Benefits of Online Trading Platforms?
As we’ve already touched on, perhaps the biggest advantage of using an online trading platform is the accessibility that it offers to individual traders.
This manifests itself in various ways too, particularly in terms of accessing a diverse array of markets and facilitating real-time orders. Make no mistake; the ease of dealing is arguably the key selling point for online trading platforms, as there’s no longer the need to organise trades through a corporeal middle man.
On a similar note, trading through an online platform is also incredibly affordable, with this trend having become even more prevalent as the market has become increasingly competitive. So, while traders may still have to pay nominal transaction fees in some instances, these continue to decline in value over time.
Then we come to the benefit of real-time trading, as online brokers publish live prices through an intuitive interface across a diverse range of markets.
This is particularly beneficial for day traders and scalpers, who like to execute a high volume of orders in relatively short periods of time and often seek to profit from the various price fluctuations that occur in real-time.
Why Use the MetaTrader 4?
The aforementioned MetaTrader 4 (MT4) app combines all of these advantages within a single platform, along with the provision for faster and more efficient transactions.
This is why the MT4 is so widely popular throughout the forex market, with this platform also offering access to an extremely user-friendly and seamless interface that makes it relatively easy for individuals to execute orders.
Additionally, the MT4 also offers a unique customisable charts feature, which enables traders to invest and analyse the more technical aspects of the market simultaneously.
This further lends itself to efficient real-time trading, while the unique ability to customise charts also ensures that information is presented in the most viable and easy-to-understand manner.
With the MT4, you can also access expert advisors (EAs), which are essentially forex trading robots that allow for advanced automated trading. EAs can be customised to suit each individual trader’s needs, creating another dimension of customisation within the forex market.
