MetaTrader MT4

MT4 allows the use of Expert Advisors MetaTrader MT4 is the world's most popular retail currency trading platform. A generic version of the program can be freely downloaded from the MetaQuotes website, although a copy of MT4 can also be downloaded from the websites of any of the countless Forex brokers who support the MT4 platform.

One of the most popular features of MT4 is its ability to allow fully automated trading by Forex robots which are also called Expert Advisors or EAs. A Forex robot can be programmed to execute trades at all times of day without the trader needing to be present in person.

Aside from the obvious advantage that traders will be able to execute trades at any hour of the day whilst they're away from their PC, automated trading in MetaTrader MT4 offers faster trade execution, and the application of rules-based trading means that much of the emotion can be detached from the trade. At MellyForex, a number of popular commercial Expert Advisors have been analysed in detail in the Forex Review section of the website, and there is also a leaderboard showing the best Expert Advisor in forward test on the website.

Expert Advisors aren't only used to trade, however, as they can also be used for such mundane tasks as checking a connection and providing a detailed analysis of the trade history. In addition to its support of EAs, MT4 can be customised in limitless ways, and versions of the platform are available for use on mobile devices.
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