Choosing the best Forex Trading Platform

When it comes down to it, there are few aspects more important to your Forex trading experience than the Forex trading software. The platform that you use can make or break your success.

This is for a range of reasons. Firstly, there’s the matter of user-friendliness. Trading is difficult enough without having constant problems figuring out how to use the software. Secondly, you need software which provides you with all the data analysis you need to make successful trades.

Over the past few years, Forex brokers have almost unanimously agreed that MetaTrader 4 is the best platform for trading.

These are the reasons why brokers, including Admiral Markets, believe that MetaTrader 4 is the best choice for you.

1. It’s free

Okay, this shouldn’t be the reason you choose a Forex trading platform, but the thing about MT4 is that it’s far better than any paid platform. In this case, just because something costs more (or at all) does not mean it’s better.

2. Low on resources

Clunky software can make the whole trading experience that much harder. When you’re making a trade, you don’t want to be interrupted by heavy system process. Well, MetaTrader 4 is incredibly low on resources, especially the Windows version. It’s a tiny download and easy installation as well.

3. Broker experience

Good communication between you and your broker is extremely important. MT4 takes care of this. Using MT4, the trading experience is smooth and streamlined, and your orders will never be lost in coding.

4. User-friendly

As I mentioned before, MT4 has the most intuitive interface, making it easy to use. The thing is, it’s perfect. I know that’s quite something to say, but there’s good cause. MetaTrader 4 was originally released in 2005. That’s 12 years ago! And despite many other developers trying to build something better, no one has succeeded – not even the designers of MT4. MetaTrader 5 has been out for a few years, but no one sees any need to move across.

5. It’s flexible

MetaTrader 4 is fully customisable, which is great for more expert traders. You can customise it to do exactly what you need. It supports all currency pairings, and you can trade in CFDs as well. You can also develop your own expert advisors (EAs).

6. Expert Advisors

What are expert advisors? EAs are a form of automated trading. It has become very popular in the Forex market. MetaTrader 4 provides effective EAs. Although many are wary of automated trading, those who use it will love MetaTrader 4.

Ultimately, these reasons should be enough for you to choose MetaTrader 4. All the best brokers offer it for free. Make sure you’re never asked to pay for it, and ask all the right questions to see how it can work for you.