MetaTrader 4 – Tap and Trade FOREX On-the-Go
A Forex trader will come across many problems such as the lack of control over accounts, insufficient details of financial instruments etc., when he stays away from his PC. To overcome such issues, here is a new solution called ‘MetaTrader 4’ available for all types of Android devices. You can trade any time and at any place using this app.
What is MetaTrader 4?
MetaTrader 4 is an Android app that allows you to manage FOREX trading right from your Android device. It lets you access more than 800 servers of various brokerage firms that use this app, to help you trade in the financial market. You can gain real-time information of the fluctuations in the trading market with a single tap through this app. MetaTrader 4 is user-friendly and portable.
Features of the app:
If you already have an account with a brokerage firm, you can simply login using the existing account. If not, you can set up a demo account to know the ins and outs of the app.
MetaTrader 4 consists of four menu items namely Quotes, Charts, Trade and History. The Quotes menu shows the real-time prices for the currencies you have chosen. The Charts menu offers the graphical representation of the market position of various financial instruments with zoom and scroll options. The Trade menu provides the details of trade made by you with the margin level, profit, balance, position of the instrument etc. You can view the amount of money made or lost, in this section. The History menu displays the history of the trading orders along with your running balance including profits and losses.
Using this app, you can trade on your Android device instead of sitting in front of the PC all through the day. You can even access your pending orders through this app. MetaTrader 4 supports 30 technical indicators including the most popular ones like Average True Range, Bollinger Bands, Commodity Channel Index, Envelopes, Force Index, Relative Strength Index, Standard Deviation etc. It also supports 7 time frames and 3 chart types.
The speed of MetaTrader 4 is amazingly fast and so it is easy to carry out the transactions. But it looks like linking an account to an actual broker is a bit difficult in the app (as informed by some of the currency traders who used the app). Other than this, MetaTrader 4 is a risk-free financial tool for anyone who likes to trade on-the-go.
The app is free and it requires an Android version of 2.1 and above.
Rating: 4.3/ 5