TRADING PLATFORMS IN FOREIGN EXCHANGE MARKET
The older generation platform is the most convenient forex trading platform, by Metaquotes software corp has been popular for over ten years. It analyzes financial markets and use expert advisors. Mobile trading, trading signals, and the market are the integral parts of this platform that enhance the forex trading experience. It offers ample of opportunities to traders of all skill levels, advanced technical analysis, flexible trading system, algorithmic trading. Signals and Market additional services extend the MetaTrader 4 frontiers. The signals service allows one to copy trades of other traders and market provides expert advisors and technical indicators. MetaTrader5 is a new generation platform and is the logical successor of the first older generation platform. Offers two types; MT5 Pro and MT5 Pro hedged accounts with numerous features like new order type: stop limit order, display of market depth, free professional chatting tools, more indicators and multi-lingual platform with traders not restricted to using only the built-in analytical resources such as MT5 tables, indicators, and graphs. MetaTrader 4 has these main features: High mobility, multi-functionality and more secure.
Opening and Trading with MetaTrader 4 and MetaTrader 5 accounts
To get started trading with these platforms, you need to follow four simple steps:
- Download MT4/MT5
- Install the apps
- Open a trading account with a broker
- Login to the platforms with your live account details.
Downloading and Installing
Downloading the platform apps involves visiting the preferred links to download and clicking on those relevant links for the preferred operating system/ device. When using a PC or MAC, download the software and run the file to complete the installation. When using a mobile device, download and run the relevant app. For Apple devices, get the IOS MetaTrader App from the Apple App store, For Android devices, get the Android MetaTrader App from the Google Play Store. Run the file and follow the instructions in the installation wizard.
Opening a trading account
Once you have the platform on your device, you need to trade by connecting to a broker server. You cannot instantly open a live account with the terminals but instead, it requires you to open an account with a broker. Select the file tab at the top of the platform and select open an account. This will open a window showing you a choice of available servers.
After selecting a server, you click Next, new window pops up, if you select a new real account, it will link you through to Sign up for a Trading Account Page.
When you open a trading account with a broker for MetaTrader, they will provide you with authorization credential: ACCOUNT ID, PASSWORD, INVESTOR PASSWORD and SERVERNAME.
Once you have opened a real account for MetaTrader platform, you now use the account details to log in.
Logging in involves gaining control of the trading account with the broker.
Funding the account is via a bespoke Trader’s room tool. A way of managing account and conducting money operations. To deposit or withdraw, login to Trader’s room and select money operations tab.