Common Trading Platforms
Metatrader 4 is a safe platform that is commonly used among many forex and CFD brokers.
Who made MetaTrader? 4 and 5
MetaTrader is a program made by MetaQuotes who works with brokers and provides them with platforms that allow the broker to manage their brokerage business and most importantly, allows clients to trade on financial instruments. To learn more about MetaQuotes, check our blog post on them here.
Features of MetaTrader
Not only is MetaTrader safe, it is a versatile tool that has a great range of features, particularly for a software package that is free to use. While the core features are powerful, there are some even more interesting features when you get into customizing your platform with Expert Advisors and Custom Indicators.
Pre-built indicators and expert advisors
Tons of people are out there looking for the best indicators to use, what ones will help predict a more certain future price and define when markets will turn the other way. While you can buy indicators, you can also make your own in MetaEditor. This can be a bit tricky so we suggest you get some training on how it all works, because you need to know how to code and how files interact with each other, plus how the market works to actually use it. Fortunately, there is an easy way to be able to produce your own custom indicators and expert advisors. This practical course will quickly take you through the basics of how to get an indicator and expert advisor working from scratch, then goes into more detail to show you how to bring your very own ideas to life. There is a library to help you simply copy and paste what you need into your EA or indicator so that you can create your custom programs fast. Learn more about the course and what it can do for you, if you are a trader, then this is something that will fast track your understanding of financial markets permanently.
Test your strategies
MetaTrader also has some great functionality called the strategy tester. The strategy tester enables users to test their ideas (such as a sell from a bounce off a moving average) on their preferred chart timeframe over a set period of time, then provides the result of the test. This can save so many hours of manual testing, assessing and getting the strategy live with confidence. The only drawback to this is you need to be able to code your idea. With this course, you can do just that, quickly and easily.
MetaTrader is safe
If this post hadn’t been clean enough, MetaTrader 4 and 5 are both safe and very commonly used in the financial space. If you have concerns about something not above board is going on, it is more likely to be something to do with your broker, so please read up on how to avoid broker scams.
Remember, testing your strategies and speed to market will help you achieve more in a shorter space of time.