The Metatrader platform is probably the most popular and efficient trading platform available to Forex traders on the market these days. It is 100% free and available for download on the Metaquotes website (Metaquotes are the producers of the Metatrader platform. If your Forex broker gives you the option of trading with them using the Metatrader platform they will probably supply you with a download link when you open an account with them. Though many Forex brokers have their own customized trading platforms, none of them are as powerful or as reliable for Forex trading. Even if your Forex broker doesn’t give you the option of trading using the Metatrader platform you can still use it to receive a separate feed for your currency pairs and still use the Expert Advisors that the market has to offer to improve your trading skills and results.
Installation of Metatrader
After you download and install Metatrader give it a run. At first it may seem a bit too complicated but after a while you’ll get the hang of it and realize how great it is for bother new and experience traders. You can view different pairs simultaneously and all the information is presented to you in an orderly fashion. On your top left hand side you will notice that you have all the pairs available to you listed. A simple drag and drop of the pair on any chart will make the pairs graph appear in front of you. This gives you the options to switch between pairs extremely fast, that way you don’t miss out on any split second trading opportunities.
Customizing Metatrader
Metatrader is completely customizable; this means that you can set up your own profiles\templates so that you can trade as comfortable as possible without having to reconfigure your setup each time. You can view multiple pairs or view the same pair in different timeframes, whatever you prefer. You can choose what indicators are visible and which aren’t. The profiles can have one or multiple charts. You have full control you’re your orders, unlike many trading platforms.
Web Based Trading
The main problem with Metatrader is that it needs to be downloaded and is not web based like other “Web Based” trading platforms. Many Forex traders find it very comfortable to be able to just log into their account from anywhere using their web browser.
Expert Advisors and Metatrader
The best advantage about trading with Metatrader is that there are hundreds of automated Forex tools available for download called Expert Advisors. Each of these Expert Advisors has the potential of trading 100% automatically for you and making you quite a bit of profit. Here at Expert Advisor Metatrader we try to deliver a non-bias easy to understand comparison of all the Expert Advisors available for use with the Metatrader platform and other automated tools as well.