MetaTrader 4
MetaTrader 4 (MT4), the most widely used retail platform for currency trading, is MetaTrader 4. The trading platform was created by MetaQuotes in 2005. It has a global penetration of over 85% from forex brokers around the world. The platform was used by 55% of retail forex traders in 2018, based on Finance Magates Intelligence. It’s the most popular forex platform, according to awards.
The Advantages of MT4
MetaTrader 4’s popularity is its greatest advantage. Once traders are familiar with the platform, they can quickly switch between top forex brokers. Other MT4 features include the stability of the 15 year-old trading software.
- Trade in one click
- 50+ Indicators
- Limit and pending orders
- 9 time frames
- Multi charting
Software’s popularity is evident in features such as algorithmic trading and social trading. There are also a lot of bots available to download (called Expert advisors), including the ones below.
Advantages of MT4
MetaTrader 4 is not suitable for traders who want to trade share CFDs. Although the charting package is functional and basic, it lacks the sophistication that other software packages. Other issues include the lack of technical indicators, instruments, or time frames.
Pepperstone is the Best MT4 Broker
Pepperstone is the best MetaTrader4 best forex platform, based on:
- Spreads starting at 0.0 pip
- Rapid execution speeds of less than 30ms
- Enhanced platform features
- An enhanced MT4 demo account
- A variety of currency pairs and CFDs
- Award-winning customer service
1) Pepperstone has low average spreads
Pepperstone offers ECN broker spreads through the Razor account type. This includes straight-through processing (STP). Pepperstone is the most accessible to Tier 1 liquidity pools and spreads, as there is no dealing desk. This means that the average spreads for all major currency pairs is lower than those
Pepperstone also offers competitive MT4 Commissions, which are determined according to the base currency of traders. These rates are also available at a discount for high volume traders who sign up under the “active trader” program.
- USD 3.77 USD base currency commission rate
- currency commission rate = EUR $2.61
- GBP PS2.29 Pound base currency commission rate
Pepperstone published 2020 their own execution times with:
- Pepperstone Group Limited (Australia), takes 30ms to complete most orders
- Pepperstone Limited (UK), takes 60 milliseconds to complete most orders
3) Pepperstone has a strong global reputation
Pepperstone was established in 2010, originally in Australia. It follows the Australian Securities and Investments Commission’s (ASIC). The Financial Conduct Authority (FCA), in the UK, CySEC, in Cyprus, DFSA, in Dubai, BaFin, in Germany, CMA, Kenya, and the SCB in the Bahamas regulate Pepperstone. A financial license in South Africa is being sought by the broker.
You can avoid forex scams by signing up for a registered broker before you choose a broker to trade. All client funds and deposits are kept separate at ‘tier 1 banks like the National Bank.
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