While traders often disagree on many things, most would agree that the trading platform is an essential tool that can either help or hinder performance. Most traders now trade from the comfort of their computer rather than by brokering telephone deals. As a result they need a fast and reliable platform with which to trade.
There are a number of different platforms on the market. These range from in house developed systems that the broker has had direct input, to ‘white labelled’ platforms that simply assume the brokers name and livery.
Sitting somewhere between these two different offerings sits MetaTrader. Some brokers offer this platform exclusively or alongside their existing systems.
The MetaTrader is hugely popular and regarded by many as one of the leading platforms for trading. The demand for this platform is one of the reasons that so many brokers have added it to their line up. It’s demand stems from the familiarity that this long running system offers as well as the wide range of trading features that are inbuilt within its software.
Whether you are intent on trading a simple Forex trading system or a complex automated strategy, the MetaTrader platform will provide you with a solution to your trading needs.
The client trading platform is downloadable. A full trading platform is available to run on either Windows based PCs or Macs, while a mobile version allows you to trade with reduced features while on the move.
One of the key features offered with this dealing platform is the advanced integrated charting. This allows you to make use of a wide range of preloaded and custom trading indicators with which to analyze the markets. You will find moving averages, Bollinger bands, oscillators and pivot points. These are just a few of the included trading indicators with which you can begin to create profitable strategies to trade the FX markets with.
However, being able to analyze the charts is only one aspect of trading. The platform allows you to keep up to date with the latest news from around the markets. You will receive updates from reliable news sources as when news breaks. This makes it easy to maintain visibility on key trends in the market.
A unique feature offered by this platform is the facility to make use of automated trading. With this feature you can set ‘expert advisors’ to automatically trade the markets on your behalf. There is no need to sit watching your screen. You can simply program the algorithms that you want to trade with into the Expert Advisor and then sit back and let it trade on your account. This is a great way in which to automate your strategies and trade around the clock.
MetaTrader has an inbuilt trading language which allows you to automate your strategies and create custom indicators for your analysis. This can be learned although most people will simply send their request to a dedicated programmer. For a small fee you can get the platform working and analyzing the markets exactly how you want it too. You can quickly and effectively customize all aspects of your trading to increase your trading accuracy and profitability.
In conclude, the MetaTrader trading platform is one of the top Forex platforms that you can use to trade. It is simple enough for a new trader to get to grips with while it contains enough features for advanced traders to run their strategies.