MT4 is a trading software developed by Russia's MetaQuotes company, and adopted by many overseas Forex companies.
The chart is displayed in real time, and the installed tools can conduct technical analysis and lead to investment. Because of its flexibility, there are not a few traders who open an account to overseas Forex companies that can use MT 4.
MT 4 has the merit of directly connecting to the interbank You can trade directly with the market when trading with MT4. It has a mechanism where the Forex company that you open an account provides an environment where traders can invest, and earn by raising profit.
The DD method adopted domestically is focused on the relative trading with the Forex company you opened an account. Compared to interbank dealings using MT 4, there are features with lower fees such as spreads. However, since it becomes a relative trade, the company side makes profit in proportion to trader's loss.
Furthermore, unlike MT 4, since you can trade installing an original platform, so there are places where the transparency is poor. Scalping in Forex which deals many times is the mainstream, and as trade frequency increases, reliability becomes a more important factor.
As a precaution, as there are malicious Forex companies in overseas, there are cases in which it is actually a relative trade, even where you can trade on MT 4. In order to prevent traders from making a disadvantageous transaction, it is also important not only to allow or not to use MT 4, but also to proceed to establish an account after investigating the reputation of the Forex company.
Advantages of automatic trading of MT 4
Forex can offer and bid for currency pairs. Because the market price will change not only by the relative value of the currency but also by the number of orders, traders need to select currency pairs to read the field carefully and invest.
However, it is difficult for beginners to deal with emotion in Forex trading where direct loss occurs when losing. In such a case, there is a convenient automatic tool, so you can make a decision mechanically.
Automatic trading tools are offered in MT4, and it also automatically obtain and record trends of foreign exchange rates. You can decide the rules and it trades on its own. You can also conduct a trading simulation so you can trade on the flow of automatic trading beforehand.
Disadvantages of MT4 automatic trading
The MT4 needs to keep the server running for 24 hours, and there is a possibility that phenomena such as malfunction or freezing of the personal computer when the number of transactions increases and the load gets heavy. Although it was difficult to deal when a power failure occurred in the past, but this disadvantage is covered as we can now use MT4 tools even in smartphones.
Moreover, the possibility of a wrong order cannot be ignored and the risk to that is high. We cannot deny that there are malicious Forex companies that make automatic trade and intentionally issue large losses. It is also important to establish an account by choosing a reliable Fore company, but opening up accounts with multiple Forex companies is also a method of risk diversification.
The number of Forex companies that can use MT 4 is appealing
For a domestic Forex company, it is common to trade using the platform that the company provides its own, although those that support MT 4 is increasing. Even if a highly functional tool is provided, even if a Forex company creates a disadvantageous condition for the trader, not knowing this may create anxiety in your trading.
In case of MT4, a common platform regardless of Forex company or securities company is used, so reliability in transactions exists. Also, since it is adopted in many overseas Forex companies, there is merit that you can trade in the same way even if you change to another Forex company.
Furthermore, because it’s free, even if you do not know that the fee is only spread, or that the contents posted on the homepage are other languages when using overseas Forex companies, traders who have used it before are able to trade.
MT 4 has a difficult part because it is profound
There are various tools in MT 4, but if you use it as a minimum trading tool, even if there is not a problem to that, but if you use it to keep a good result in Forex, you need knowledge and technology enough to master MT 4.
Although with Japanese language support, but because a tool originally in Russia, there may be parts that you feel difficult to use until you get used to it in Japanese. When trading with smartphones, the function is somewhat limited compared to the PC version, so there may be some inconvenience for traders who are considering trading mainly in smartphones.
If you are thinking about trading by organizing your own system, you need to program the system and build it. In order to master MT 4 and compete in Forex, it is necessary to have some degree of programming knowledge.
If you are using MT4 for the first time to trade, we also recommend that you use the demo trade to experience the actual flow of transactions. GEMFOREX supports demo trade, please note that some overseas Forex companies do not support demo trading.