If you are a beginner trader and interested in trading forex or CFD, you should know that Mt 4 is an incredibly popular trading platform that is used by traders all over the world, especially for forex and CFD trading. Essentially, MetaTrader 4 has been developed by MetaQuotes, and this trading platform is considered a great platform for beginners due to the fact that it offers a great combination of functionality, customization, and speed.
Read on to learn more.
Leverage Simpler Features
When it comes to the top benefits for why most traders prefer MetaTrader 4 or MetaTrader 5 for kickstarting their trading journey, especially with Forex or CFDs, it comes down to the fact that MetaTrader offers simple-to-use features.
The simplification is incredibly enticing for beginner traders who are still trying to navigate the trading market, especially regarding how forex works. For beginners, trading can be an emotionally overwhelming experience, which is why having the right trading platform is crucial. With that said, MetaTrader 4 as well as MetaTrader 5 ensure easy navigation, which helps newbie traders familiarize themselves with what is essential.
Experience Fewer Glitches
With MT4 trading, traders experience fewer glitches than with other trading platforms, such as MT5. The MT4 trading platform is generally more suitable for the trading needs and preferences of beginner traders.
Of course, there is nothing wrong with choosing MetaTrader 5 for trading commodities and forex; however, compared to MetaTrader 4, MetaTrader 5 is somehow more prone to system glitches. Besides, since the MetaTrader 4 platform exclusively focuses on CFDs and forex, it is less likely to experience glitches, as it does not run other programs for other financial services.
MT4 is Focused on Forex Trading
If you are new to forex trading, you naturally want to focus exclusively on forex and no other financial trading services. This is where the importance of MetaTrader 4 comes in. MetaTrader 5 offers services for a wide range of financial markets, including cryptocurrencies, indices, stocks, commodities, and forex.
It would not be wrong to state that MT5 is a unified shop for traders who are interested in managing a diverse portfolio; however, as a beginner trader, you might want to remain focused on forex trading first, which is why trading on MT5 can be complicated for you.
MT4 is The Standard Platform
Did you know that MetaTrader 4 is an established standard in the trading industry regarding how trading platforms should be? Yes, you read it right! This aspect perfectly explains why many forex brokers recommend MetaTrader 4 to beginner traders.
Additionally, apart from the simplified platform features, MT4 has created a standard in the global trading industry regarding what ideal trading platforms should be, which is why many new trading platforms resemble the features that MetaTrader 4 offers. With that set, since MetaTrader 4 is the standard for all trading platforms, there is actually no reason left for traders not to use it.
Compared to other trading platforms, MetaTrader 4 hosts a massive community, which is why you might want to join the community of traders and learn from other professional traders.
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