What is Metatrader?
MT, short for Metatrader, is a top-of-the-line trading platform that is used by most of the brokers in the foreign exchange market. Metatrader brokers, as they are called, make use of the different brokerage services offered by Metatrader especially for CFD, futures, and forex markets. Metatrader was made possible by a software corporation known as MetaQuotes Software Corp. As of the present time, the most pronounced version of Metatrader that is widely used by Metatrader brokers is called the “MT4” or the “Metatrader 4”. However, a newer and more improvised platform is almost on the rise so as Metatrader brokers can have an easier and more efficient way of transacting with different traders worldwide. In fact, a demo version is already out in the market. That platform is known as “MT4” or “Metatrader 5”.
Brokers who make use of the different useful menus found in the Metatrader platform are called Metatrader Brokers. The platform has been used by over 300 companies and banks engaging in the forex market because of the benefits and securities that they get out from the said software. That is why it can’t even be doubted that Metatrader brokers are the ones being sought by many traders worldwide. The success of Metatrader brokers always boils down to the excellence of the software that they use.
Metatrader brokers as first choice
Metatrader brokers are the front liners when it comes to foreign exchange trading. It is not just because of the very innovative software, but it is also because of the competitiveness of those Metatrader brokers. If a broker is competitive, it then follows that investors are able to build a trust on them. If trust is there, then it means more clients, more trading and more profits. There are actually a number of reasons why investors choose Metatrader brokers over other brokers.
Metatrader brokers have the capability to satisfy the needs of their clients by creating templates;
- Metatrader brokers are more advantageous with regard to the forex market because they are able to view different graphs of different foreign exchange pairs concurrently;
- Metatrader brokers are very much involved in the real financial market because with the platform that they use, they have the ability to do different brokerage services simultaneously;
- Metatrader brokers can deal with a large number of traders even amounting to more than 10,000 traders without having to worry with the security of the clients’ trades;
- With the help of the technical analysis indicators being incorporated in the platform, Metatrader brokers allow the customization of those indicators in order to suit the visual preferences of their clients;
- Metatrader brokers can quote both short term and long term histories because of their ability to process a lot of financial instruments;
- Because of the powerful functions included in the Metatrader platforms, Metatrader brokers can manage the databases and financial instruments easily and effectively;
- Metatrader brokers are very accurate in managing all the network of company branches;
- Metatrader brokers use the IB or Introducing Brokers service; and
10. Lastly, Metatrader brokers are able to facilitate all operations performed by the platform, thus, ensuring all the clients that they are in safe hands.
The Metatrader drawback
Just like anything else, the Metatrader also has its drawback. The only thing is that Metatraders don’t allow such drawbacks to ruin all their financial market plans. The Metatrader platform has to be downloaded and as such, Metatrader brokers may not have the luxury of time to minute-by-minute check all others coming from other places because the software is not web-based. That is why, an improvement is made, and hopefully in the newer version (MT5), everything will be perfect.
Trading thru mobile
Because of the availability of trading using the mobile system, the forex market has become wider and wider. Mobile devices such as palmtops, cell phones and smartphones are able to access the forex market, and with that, the transactions can be made anytime. This advancement makes Metatrader brokers ahead of other brokers. As a result, Metatrader brokers are able to handle all the client orders without having to worry about delays. Lastly, Metatrader brokers are still able to make rightful decisions as analyses and visualization of charts are still possible with the use of mobile phones.