If you’re a veteran trader, you surely don’t want to trade with complexity and highly incline towards automated trading systems since they are more reliable and less time-consuming. But you must confuse about what will be the best computer-programmed trading system that can help you like a human partner. Here comes the MetaTrader4 to get your back! Online retail foreign exchange speculators use this electronic trading platform extensively. Let’s look deeper into it!
What Is MT4 In Detail?
MetaTrader4, also known as MT4, is a popular trading platform used by forex and CFD traders. It is developed by the Russian software company MetaQuotes Software Corp and is available for desktop and mobile devices. MT4 offers a range of features and tools for traders, including technical analysis, charting, and automated trading.
It allows traders to place orders, manage positions, and track the performance of their trading strategies. It also includes a market depth window, which shows the best available prices for a particular currency pair. MT4 is known for its user-friendly interface, which makes it easy for beginners to navigate. It also offers a variety of customizable indicators and expert advisors, which allow traders to automate their trading strategies.
Despite this, due to its high security and convenience, it also provides an online money deposit facility into a trading account. But the problem is you can’t deposit the fund directly but have to make a broker account. Before getting into the depositing criteria directly, let’s see how it’s beneficial for trading!
Advantages Of Trading With MetaTrader4
Due to its advanced features and reliability, MT4 has become the industry standard for online and automated forex trading. It has such a major advantage that is very rare to find in other electronic trading tools; this is the reason why it’s highly dominant in the finance and stock markets. The following are the benefits of utilizing MetaTrader 4 for foreign currency trading!
1. Real Liquidity & Prices
The use of market data feed from major liquidity providers and its ability to execute trades in real-time based on the current market conditions help MT4 provide actualized liquidity and prices. Secondly, It also ensures that the prices and liquidity information displayed on the platform is accurate and up to date with its advanced algorithm system.
2. Trade With Security
For all data transactions between client computers and electronic servers, the MT4 platform employs a 129-bit key and RSA digital signatures, guaranteeing that all trade information is secure and may not be read by unauthorized entities. The platform offers built-in security features such as account login protection, IP address filtering, and the ability to set restrictions on account access. With these security measures, it’s highly preferred for business owners for safe monetary transactions.
3. Technical & Fundamental Knowledge
Indicators, charting tools, and expert advisors (EAs) are among the technical analysis tools in MT4 that allow traders to analyze the market using previous price data and patterns. Moving averages, RSI, and MACD are examples of technical indicators that may be employed with MT4. Furthermore, MT4’s fundamental research tools include an economic calendar, a news feed, and market reports, which offer traders information on global economic events and their possible market impact.
Why Should You Deposit Your Money Into an MT4 Account?
Yes! MT4 doesn’t allow direct money deposits and transfers but due to the high-security guarantee and convenient use, people who aren’t even traders use it to deposit their cash by making a Broker account. But before this, let’s see why should you deposit your money into it only!
- This will allow you to keep your trading funds separate from your personal funds. This can help you to better manage your money and avoid making impulse decisions with your trading capital.
- Having your money in an MT4 account can also help protect your funds if something happens to your broker.
- Brokers who offer MT4 accounts usually have a good reputation and are regulated, which means your money is secure.
- Many third-party software and services support MT4 accounts, making it easy to automate trades and integrate your trading strategy.
How Can You Deposit Your Money Into Metatrader4 Account?
You can’t add money directly to your account since the broker funds and manages your live account. Hence, you need to open a broker account as metaquotes (the manufacturing company of MT4) provides the funding facility only to them. Follow the mentioned steps to deposit your money as a broker;
- Log in to your broker’s client area and enter the required credentials. To deposit money into MT4, you must first open an account. You can do this by visiting the broker’s website.
- Go to the deposit tab or Add Funds section. This will locate in the top menu bar or the My Account section.
- Choose your deposit method for how you would like to add money to your account. MT4 usually offer seven payment method, including PayPal, Mastercard, etc. Go for the technique that is most convenient to access for you.
MT4 Demo Account Funding: How to do it?
This is the golden and most followed rule of trading that use a demo account to practice your strategies. Because you can’t master trading overnight, it will take months or, most probably, years to master this art. For this purpose, a demo account isn’t less than a blessing as it will save you from losing your funds and also help you learn.
Your broker will give you a sum of virtual money to place trades when you open your demo account. Yes! You can’t be able to make profits even if you apply the strategies rightly, but it will pay you off with undefine experience. Log in to the client area and navigate to the “Deposit” section to transfer money into your demo account. Tap on the button “Add Funds” and then “Demo Account” from this menu. Press “Submit” once you have entered the amount of virtual money you wish to deposit. Your demo account balance will be updated automatically.
MT4 is an incredible tool for placing trades and depositing funds using a highly-programmed automated system. It also allows you to maximize your trade profits and operate in several asset classes, including forex, CFDs, and futures, allowing traders to diversify their portfolios and access a broad range of markets. However, practicing trade before diving in is highly suggested because it will save you from future losses.
What’s the minimum amount of deposit for MT4?
You can even deposit $1 into your MT4 account as it’s the minimum value, but it depends on the broker. Some brokers set even $50 as a minimum to deposit must.
What are the seven payment methods to deposit into MT4?
PayPal, Mastercard, Visa, Bitcoin, Wire Transfer, Skrill, and Neteller is the most popular payment depositing ways for MetaTrader4 account.
Can MT4 be Trusted?
It is considered a legitimate and trustworthy web trading platform, but it sometimes depends on the broker or platform you use MetaTrader4 with. Hence, conduct detailed research before placing trades or depositing your hard-earned money.