Best Online Platform - MT4 Platform

The Best Online Trading Platform is the MT4 Forex software. This is one of the most common Forex platform that's used almost by every Forex trader as well as almost every online forex trading broker.

In this guide we shall explain the MetaTrader 4 Interface so that beginners wanting to begin learning this Best Online Trading Platform, can then begin from this course.

Best Online Platform - MT4 Platform Workspace

Form the above screen shot of the this trading software there are several tool-bars as well as chart window.

You can download this Best Online Trading Platform from your broker's site. Now after you download it, then you will need to learn one or two things about this Forex platform:

The first thing is how to install this Forex trading software after you download. For example if you download the MT4 platform, you will need to go to a Forex broker first, register for a demo trading account then after you sign up for a practice account you will be provided with a link where to download MetaTrader 4 Platform.

Now once you download this Forex trading platform, assuming you don't know much about PC computers, Open your Browser >>> Go to tools at the top left corner of your browser next to "file", "edit", "view" menus click on tools, select download folder location, (shortcut: once you open your browser click CTRL+J or CTRL+Y), a down-load pop up will popup with links to downloaded items. Select the MT4 software that you have just downloaded.

Installing MT4 Platform - Best Online Trading Platform

To install this software after you have downloaded, launch the download from where you downloaded, from there an installation wizard pops up & all you've to do is to follow the setup instructions. After setup the platform will run automatically just like any other software. Read tutorial How to install MT4 trading platform. This platform is easy to install & this is another reason why this platform is the Best Online Trading Platform.

You can open MetaTrader 4 from the start menu>>> Programs or from desktop shortcut that pops up as a desktop icon marked MetaTrader 4 after setup.

Demo Forex Account Registering and Login

To open an account in MetaTrader 4 just click on "file" and then on open an account, to log in to an account just click on "file" at the top right corner and click login from the drop down menu that appears.

Once youlogin to the MT4 platform you'll get access to charts & other technical analysis tools such as technical indicators that you will then use to place trades within the market while connected to your Forex broker's servers.

Forex Platform Menu Bar and Toolbars

Menu Bar in MetaTrader 4 For Navigating within the Software - Best platform

Menu bar is used to operate & navigate this Forex platform from one single panel. From this panel you can set how to view toolbars, chart, data windows and even use the file tab to open a forex account - & also sign in to your account. This menu bar makes this platform easy to operate & this is also why this is the Best Online Software for beginners.

Form the menu bar you can click on view tab and select chart tool-bars like in the above pictured screenshot, these menu bars can be used to set up charts, indicators, time frames, & others things like drawing forex trend lines and Fibonacci retracement levels and Fibonacci expansion levels. To learn how to customize this platform navigate to this MT4 Forex Tutorial Section.

Now that we have looked at the tool-bar & menu bar, we shall look at the main work-space interface of the MT4 trading software.

Best Online Platform - MetaTrader 4 Best Online Platform

Market Watch window panel - This window is used to show a stream of the exchange rates that is obtained from your currency broker. In this market watch window panel you can right click anywhere on this panel to choose show all currency pairs or hide the ones you are not interested in and save some bandwidth at the same time. No need to have prices for 50 currency pairs if you are only interested 4 currency pairs. This make this platform easy to use with any inter net connectivity another reason why this is Best Online Trading Platform.

Data Window Panel - Used to setup Technical Indicators, Expert Advisors and scripts, you can click any of this menu sub items & expand/collapse the indicators or Expert Advisors used for automated forex trading.

Forex Charts Panel - This is where the currency price moves will be plotted.

Forex Charts Tab - Navigation from one currency pair to another is easy, just flip through the charts tab as illustrated above.

Terminal Window Panel - This panel is used to display a statement of your trades, profits and loses that you have made in your live Forex trading account or demo Forex trading account. To enlarge this window & view open trades, just hover the mouse on the terminal tool bar until the cursor pointer changes, click & hold down mouse button key & then move cursor pointer upward.

Connection bars - These are used to illustrate the connection to the internet, red bars mean no internet connectivity, green bars illustrate there is internet connection.

Exchange Rates Graph - this shows the exchange rates for the currency pairs that you are trading so that to display if the exchange rate is going upwards or downwards.

Advantages of MT4 Platform - Why MetaTrader 4 is The Best Online Trading Platform

In the online forex market there are many Forex trading platforms available around the internet. But among the top Forex softwares the Best Online Trading Platform is the MT4 Platform, it is the best Forex software because of the following reasons:

Low Bandwidth Connection Requirement

Not everyone can afford the best internet connection, the T1, the satellite, ADSL or Fiber Optic internet connection: furthermore, these are not freely available to some residential areas and may be limited to office buildings. This is why it's best to choose a Forex platform that requires the minimum band width, the MetaTrader 4 platform. Even with the best connection, sometimes the connection might not be available & you may need to use an alternative connection like the dial up or modem. MT4 platform is the least expensive if you're on a modem. To even reduce further the inter-net band width usage navigate to market watch (Short-cut press CTRL+M), Right-Click on any currency, Select "Hide all", now the platform will only stream the currencies quotes for the pairs you only need and conserve your internet band-width even further. Especially when using a mobile phone or i Pad or a Tablet where you are paying for phone credit doing this can save your internet date credit. This is one of the reason why the MetaTrader 4 is considered as one of the Best Online Trading Platforms online.

The easier it is to connect the easier it is open & close trades on time.

Provided by all Forex Brokers

Another reason why this Forex software is considered as one of the Best Online Trading Platform is because MT4 is liked by most traders all brokers provide it. Once as a learns the MT4 Forex trading platform there's no need to re-learn when you switch to another Forex trading broker. You can still use the same MT4 software of the new Forex broker without the need to learn a new software all over again.

Easy Technical Analysis

Other thingwhich makes this the Best Online Platform is the ease with which you can set up the technical analysis technical indicators on the currency charts. Even those using various web traders will do their technical analysis in MetaTrader 4 chart & then place their orders on their web trader.

Technical analysis traders can also setup custom indicators on this trading software, making it easier to add more technical analysis tools on to this trading platform. Others also install automated EAs on this trading platform so as to trade automatically with these programs known as automated Expert Advisor Forex Robots.

Best Forex Charts

The MT4 has the Best Online Trading Platform charts representations available & implements many chart time frames from which a can choose.

Simplicity

Overall the simplicity of this software & the fact that any investor can learn how to use MetaTrader 4 within one hour makes this the Best Online Platform for new & experienced currency traders.