Forex with the MetaTrader 4 Trading Platform
MetaTrader 4 is the most popular trading platform for trading Forex and CFD (Contracts for Difference). With its impressive functionality, the platform is suitable for traders of all skill levels. A flexible trading system, advanced tools of technical analysis, Trading Signals, Market of Expert Advisors, mobile and algorithmic trading — MetaTrader 4 contains all those. Use all these features in your Forex trading!
Forex (foreign exchange) is a global currency trading market surpassing all other financial markets by its trading volume. Every day, lots of banks, funds and private investors buy and sell different currencies equivalent to trillions of dollars, and this figure is growing. Forex trading is conducted via global information networks 24 hours a day.
The following currencies are considered the most popular in Forex: USD (United States dollar), JPY (Japanese yen), GBP (Pound sterling), EUR (Euro), CHF (Swiss franc), CAD (Canadian dollar) and AUD (Australian dollar). The most popular currency pairs in Forex are EUR/USD, GBP/USD, USD/JPY and USD/CHF. These are the so-called majors – exchange rates of one currency against another. For example, EUR/USD 1.3000 means that 1 EUR costs 1.3 USD.
Besides, there are also less popular currency pairs that can also be used for speculative trades. Speculation is the core principle of profiting from Forex – buy low, sell high. For example, if you buy EUR/USD today at one price and sell it 6 months later for a higher price, you will earn a profit.
In order to become a broker and start trading in Forex, you should choose a broker and download MetaTrader 4 for free. The broker provides access to the market, while the trading platform allows you to analyze quotes and perform trades. Before applying to a broker, you may open a demo account in MetaTrader 4 and trade virtual money to better understand what Forex is.
Technical analysis tools (various analytical objects and technical indicators) are used to forecast quote movement directions. Efficiency, accuracy and reliability of numerous analytical algorithms and tools may vary at different parts of the market. For example, trend indicators are most effective during strong price movements.
Trading operations in Forex are performed using market or pending orders. The orders are requests to perform a trade immediately or upon meeting a certain condition. These requests are sent to your broker.
Mobile trading allows you to analyze markets and trade the same way as when working via the desktop version. The only difference is that trading is performed using a smartphone or tablet from anywhere in the world. This is why it is called mobile trading.
Algorithmic trading fully automates analytics and performing trades completely freeing traders from the routine work. Formalize your trading strategy turning it into a trading robot and let it work for you!
With all these great opportunities, MetaTrader 4 has become the most popular Forex platform. Download the platform, open a demo account and try it!