Disadvantages of Mobile Trading Terminals

MetaTrader 4 has become a platform, universal for the organization of brokerage companies, as it did not require any additional software. The development environment of MQL IV included not only the programming language itself, but also the personal module – MetaTrader 4 Client Terminal, the compiler, and editor of expert advisors – MetaEditor, a module that allows you to test and optimize Expert Advisors – Strategy Tester. Five years later, MetaQuotes Software Corp. additionally extended the functionality of the previous version, releasing MetaTrader 5, working on which you can go to stock exchanges, perform fundamental analysis, etc. Traditionally, the development environment was upgraded to MQL V version, in which the trading strategies/robots generator MQL5 Wizard and MQL5 Market appeared to buy or download free ready bots, indicators, and scripts. In short, the MetaTrader 5 information and trading platform has become fully consistent with the concept of All-in-One.

Reasons For The Popularity Of The Metatrader Terminal

There are significant discussions on the forms between users of various trading terminals, where the user’s sincere support for the MetaTrader platform is clearly visible – any sane person is able to distinguish between stupid marketing customized reviews from those written based on the current emotional state. The popularity of the MetaTrader platform consists of several components, namely:

– Quality and self-sufficiency of the software, which does not require the procurement of any additional programs for the organization of brokerage companies;

– High performance, stability and security embedded in the distributed structure of the information and trading platform;

– Reasonable prices and a continuous decrease in the cost of ownership;

– Flexible system settings and the ability to brand the interface for themselves.

Reviews About MetaTrader

Nevertheless, reviews on the Internet about the products of MetaQuotes Software Corp. are ambiguous, though mostly positive. In general, the discussions are not so much about comparing MetaTrader with other trading platforms and client terminals as there are about differences between MetaTrader 4 and MetaTrader 5. All that indicates to a high degree of respect and confidence in Metatrader as a whole. As always happens with the release of new versions of software, the adherents of the previous ones begin to attack the innovations, and the same happens with MetaTrader.

For example, there are complaints that the new version does not offer the option of interchangeable orders (OSO), or that the proven robot experts (trading strategies) created for MetaTrader 4 are not suitable for MetaTrader 5, and for the latter, there are very few. Criticism also concerns the cancellation of locks and summation of positions, but it is mainly related to the formed habit and the difficulty of restructuring thinking. However, some consider this to be correct, since locks are often misleading, creating illusions about limiting losses, which can then be minimized by two or three successful operations.

If to sum up, there are some comments about the “dampness” of certain functions and imperfections of the platform. But it’s a normal situation when discussing any novelty.

MetaTrader 4 Mobile: Features of the Mobile Terminal

In the modern world, we can’t imagine our lives without smartphones. Now, almost all sites and programs can run on phones. In such reality, it was hardly possible to believe that mobile Forex trading can become an exception. After some period of scrupulous work, developers renewed the mobile terminal MetaTrader 4 version to a fully operational state. Among the renovations are a possibility to perform graphical analysis, improvement of many other functions, and correction of the majority of errors.

It should be noted that the versions for iPhone and smartphones for Android are almost similar. Mobile terminals can be downloaded both from the AppStore for Ios and Google Play Market for devices running on Android.

Working With MetaTrader 4 for Smartphones

The application starts, like any other. After entering the login and password and logging into the account, the application immediately opens the menu where the quotes are displayed. In order to open a new account, you need to go to the settings. Here, you will need to select the tab “Accounts” and go to the menu where you can select or add a new account. In order to add a new account, you need to click on the plus that you can see in the upper corner of the screen on the right and choose “Open a demo account”, or connect to an existing account.

If you decide to go to an existing account, you will be asked to enter the name of the campaign in which it is opened, or choose from the list of campaigns that you entered earlier. If you decide to open a new demo account, you will need to enter your data. In this case, you can enter any data, most importantly, that they would fall under the format required by the application.

After the demo account is open, the quotes will be downloaded, and the application will be ready to start working. As it has been already mentioned, after registration you will immediately see the overview screen of the current quotes for currency pairs. Not all currency pairs are represented here. If you need any additional tools, then you need to perform a number of simple actions. If you click on the pencil in the left upper corner of the screen, you can delete or edit any currency pairs you do not need.

Advantages

MetaTrader 4 is praised for:

  • a large number of timeframes – time intervals of the graph (there are 21 of them in the terminal already), so you can choose any one that is the most suitable even for the experienced trader;
  • ease of creating bots (robot experts) – now you do not need to have advanced programming skills;
  • the possibility of trading in one click;
  • an open application store in which you can buy proven trading strategies for automatic trading, or sell your developments;
  • speed;
  • the saving capacity in the storage of quotations, for example, the minute history of a currency pair for a decade fits in 10 Mb.

Nevertheless, those traders who did not work for MetaTrader 4 obviously should start working with the fifth version, as since 2010 – after the release of MetaTrader 5 – it has already been worked through, and minor flaws were corrected.

Features of Trading on Mobile Forex Terminals

At present, with the development of highly innovative technologies, the trading market has become easily accessible to all. Access to financial markets on their own PCs and mobile devices allowed traders to trade at home, at work, and on the move. Today this is only a matter of preference. Mobile trading platforms provide almost the same functions as the similar platforms installed on a PC.

The Functionality Of The Mobile Terminal

“Mobile trading terminal” is a platform, which can be installed on a mobile device. While using the system, the traders can:

  • monitor the quotations of instruments, trade daily, conduct analysis, etc.
  • manage the account,
  • place orders, and
  • track the trading history on the phone as simple as on the PC.

As you probably know, the most popular trading platforms are MetaTrader 4 and MetaTrader 5. IFC Markets also developed own professional trading terminal NetTradeX, which has many similar features to the platform that are mentioned above, but there are also different functions from MT4 and MT5. This terminal gained popularity over time, and now it is preferred by many customers of the company. There are mobile applications NetTradeX for Android, iOS and Windows Mobile. Thus, traders can trade in financial markets from any corner of the world when having access to the Internet.

Features of Mobile Trading Terminal

Such terminals are available for mobile devices with various operating systems, such as Android, iOS, and Windows Mobile. Naturally, their design is different from ones designed for PCs, and they are inferior to the usual PC terminal by the number of functions. The mobile trading terminal has a limited number of technical indicators, does not have either chart templates or percentage charts, and it does not have the function of creating personal composite instruments (PCI).

For the effective trade, the professional level of terminal development is extremely important, because the conditions for trade and analysis should be convenient. In addition, when the traders select the platform for trading, they pay attention that the terminal must provide many professionals tools. Thus, the number of trading instruments depends on the company chosen by the trader.

IFC Markets is a leading innovative company on the financial market, which is offering a wide range of trading and analytical tools to private and corporate investors. The company provides possibilities for Forex and CFD trading via its own platform NetTradeX, which is available on PC, iOS, Android and Windows Mobile. The company also offers its clients the platforms MT4 and MT5 for PC, Mac OS, iOS, and Android.

You can take your time to see and examine the features and benefits of each platform if you are willing to. Doing so, you will find the most convenient terminal for yourself that can make your trading more effective.