Forex trading is on the rise with the increasing globalization and the impact of the global news on the exchange rate and their fluctuations. MT 4 Cost is not a concern for the forex traders as the meta trader 4 comes along as an in-built tool for many of the forex traders. If you are a beginner into forex trading, you can use the data which is given in the meta trader to increase the efficiency of the trading using the platform.
MT 4 cost and features
Though meta trader is only used in the forex market, it can also be used in the futures and forwards trading too. Some of the excellent features of the MT4 are given as follows:
Robust trading platform:
The platform provides a robust mechanism of trading that ensures that you trade not only in one mode but across three different modes of the quick functions of trading makes it an excellent platform for the users.
The detailed technical analysis which is available in the trading window includes multiple time-frames, more than 7 to be accurate, that gives an in-depth view of the trade to the trader. Understanding the price dynamics of the live market along with the accuracy of the entry and exit points, make MT 4 a perfect gift for the traders.
With the best security features like encrypted terminal along with the use of digital signatures make the MT 4 a highly secure platform to be used for the traders. An excellent user interface, thus making it user-friendly and providing g the best experience for the users, makes it one of the best products for the users.
The cost for MT 4 platform that is used for forex trading starts from 10 euros to as high as 63 euros per month with added benefits across all the categories of pricing.
Points to consider
Though MT 4 is an excellent platform for the forex traders, there are certain issues that need consideration when it comes to MT 4 platform. Below are the mentioned cons which must be considered since MT 4 cost high enough to be implemented without going through the downsides:
Lack of historical data:
MT 4 lacks the historical data about the movement of the stock prices which makes it difficult for the backtesting of the algorithms and implementing them in future trades. It can be sometimes misleading and cause trouble to the users too.
Delays and lacks celerity:
Lack of super speed trading is one of the major causes of concern for MT 4. On days of quick trading, MT 4 can face glitches which can affect your portfolio bigtime, hence you must be cautious regarding the same.
No automated trading:
The platform for trading is very new and lacks the auto-trading feature that makes it difficult for the traders to time their trading during their absence.
Lack of time frame setting:
You cannot see the charts as per the required time-frame, making trading cumbersome for users.