What Is the Reason for the Prolonged Success of the Metatrader 4?

February 8, 2021 | AtoZ Markets – We all know that the forex market is the single most popular financial entity of its type anywhere in the world, with an estimated $6.6 trillion traded globally every single day within this space.

You may not be aware that the MetaTrader 4 is the world’s most popular trading platform, however, and has been ever since its inception way back in 2005.

But what are the reasons behind the success of this platform, and why has it enjoyed enduring success over the course of the last 16 years?

What Features Underpin the Success of the MetaTrader 4?

The statistics certainly bear out the popularity of the MT4, with the app having become a major player on the global stage two years after its launch in 2007.

What’s less clear is the reason for such popularity, however, with the MetaTrader 4 having remained the standard bearer for global forex trading despite the subsequent launch of the MT5 platform in 2010.

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The MT4’s incredible ease of use is one of the primary factors behind its success, with this building on the platform’s accessibility and absence of any setup costs. It certainly boasts a clean and simple interface, while it’s possible for users to customise charts and view datasets in the most effective way.

The issue of customisation is incredibly important, especially as it also extends to the way in which trading windows are displayed. You can also switch from one account to another with the MT4, while changing the colour of technical indicators and inputting a number of internal or external indicators.

Each of the available customisations on the MT4 can be saved as templates, which can be used in the future or transferred to other users.

The MT4 is also deceptively multifunctional, thanks primarily to the availability of various trading and analytical technologies. These are supplemented by a diverse array of services for professional users, while the platform also offers algorithmic trading (which can help investors to execute a higher volume of successful orders).

How has the MT4 Remained Popular for so Long?

While these features and specifications more than justify the popularity of the platform, the question that remains is how has it achieved such enduring appeal over the course of the last 16 years?

The answer may well lie in the sense of familiarity that surrounds the MetaTrader 4 platform, with this largely the result of the app’s aforementioned ease of use. Make no mistake; this has made it easy for users to grow accustomed to the app’s interface and functionality, while encouraging novices to get started in the forex market.

While the MT4 doesn’t offer technical support to users (unlike the MetaTrader 5), it does benefit from a large and experienced online community. This also underpins the long-term popularity of the platform, as it can rely on a loyal base of users who continue to promote it within trading circles.

It’s also important to note that the MetaTrader 5 isn’t considered to be a successor to the MT4, as it helps investors to target alternative markets such as stocks and commodities.

This means that forex and CFD traders continue to prefer the MT4, and this trend is unlikely to change anytime soon.

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