Why is the Meta Trader 4 platform so popular?

We mentioned above that what was to be the MT4, which had simple beginnings in 2000. At that time online retail trading (ORT) was taking baby steps. Even in 2005 when the MT4 version released, ORT wasn´t widespread to the general public, so it was limited in trading platform providers. As with every new product, the advantages of being one of the first in the industry outweigh the disadvantages by far. Of course, the initial concept might be unclear and without an advisor you have to pave the road by yourself. With no other option, all potential clients will come and get hooked on your product. Many platforms are available to the ordinary trader now, but almost all the traders have tried the MT4 either demo or live. Familiarity with the product has it’s advantages and disadvantages.

Ndi Zaulere

As we will explain below, the MT4 ranks first to any other platform in regard to many aspects, but there are other platforms that compete. However, this platform or software might charge a fee. The MT4 is free to the traders; this will always be preferable to other products which may be more advanced. After all, you can always fund your account with the cash that
you´re going to spend on platforms and other programs that might come with it.

Customizability is a very important feature because it saves the traders a lot of precious time to open all the charts and place all the indicators according to their preference. Basically, you can customize everything in your MT4. You can arrange the way the windows are displayed, change the charts appearance, input all kind of internal and external indicators, arrange the symbols in your preferred order and switch account-to-account with ease. All of these changes can be saved so the next time you open the platform it appears as it was in the last moment you before closed it.

The MQL4 programming language made it easy for third parties to write trading programs.

Popularity

Last but not least, the popularity itself. This sounds like a paradox but it makes sense. The more popular a product is – the easier it becomes to acquire potential consumers. If you look for a trading platform on the internet, the MT4 will appear everywhere. There is a lot of literature covering this platform and word of mouth is also a very important aspect of its marketing. With so many people already using the MT4, it is not very difficult for the word to travel externally, inter and intra-trading group.

The MetaTrader4 platform introduced numerous new features, which were at the forefront of the industry at the time and made it a market leader. The customizability, the comprehensive programming language, the security, the server stability, and minimal resources it requires to run gave it the reputation it deserves. And all of this came for free to the basic trader. However, the MT4 did not become a market standard out of the blue. It became so popular for these reasons, plus continuous updates and new features which are periodically implemented to keep its high ranking.

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