Skip to content

What is Forex Trading Program? How to install and use MetaTrader

What is Forex Trading Program? How to install and use MetaTrader

Forex trading software is a program that anyone who wants to invest in the Forex market must use it to buy and sell financial products online. The new investor should study the program that helps in trading well. In order to use it at full efficiency and the most profitable.

What is Forex Trading Program?

A Forex trading program is like a trading board in a form of a broker-dedicated platform. Acts as an intermediary that sends orders and records through the broker to the central bank. It is also a source for collecting various data sets of traders, whether it is about analytics and displaying results through the screen.

The Importance of Forex Trading Programs

  • For use in buying – selling and making profits in financial products through the Internet network.
  • Expert Advisors (EAs) can be installed to help automate trading. Just download the EA and put it in the program.
  • Can do Back Test to test different EA systems or trading techniques to see how profitable they are and what disadvantages they need to improve.
  • The program is designed to be easy to use, uncomplicated and supports all operating systems on a computer. smartphones and tablets

How to choose a Forex trading program?

Programs used to trade Forex are constantly evolving, each with its own pros and cons. The trading program is like an intermediary tool that receives orders and records through the broker. to the central bank

Therefore, choosing a program should take into account the suitability of the user primarily, such as choosing a program that is easy to use, suitable for beginners. or a program that supports new trading styles that meet the needs of investors You should choose a Forex trading program along with a reliable Forex broker. Currently, Nutk Investment uses MetaTrader for Forex trading.


What is MetaTrader?

MetaTrader is a Forex trading program, similar to Streaming Pro used for trading stocks, but MetaTrader is designed with a variety of functionalities specifically for Forex trading. Help investors make more quality buying and selling decisions. It can be easily downloaded and installed on both Windows and Mac IOS computers and in smartphones both IOS and Android systems.

In addition, MetaTrader has a BOT or Expert Advisors (EA) system that works as an automated trading program. Help investors not have to sit and watch the trading screen all the time. Users can define when to buy-sell at any time. Including the system to help choose the investment style that is suitable for users as well Which has a developer made a BOT system to sell a lot Including some that are developed for us to use for free at no additional cost as well.

MetaTrader is currently available in two versions, MetaTrader 4 (MT4) and MetaTrader 5 (MT5 ), which are new platforms. But most investors prefer to use MT4 to trade Forex because the program is designed to be easy to use. and has a trading platform for all operating systems.


MetaTrader 4 (MT4)

MetaTrader 4 or MT 4 is a program used for Forex trading, characterized by a simple and easy-to-use platform. Indicators can be installed both free and with additional costs. MT4 also has a program for back testing or Back Test, allowing you to test trades without having to pay for trading yourself. And most importantly, it also installs an Expert Adviser (EA) as an add-on to the program to set up automated trading as well.

MT4 Features and Highlights:

  1. Easy to use, uncomplicated for both Windows and Mac IOS systems.
  2. Supports Expert Advisors (EA) functionality
  3. Hedging and scalping are available, MT5 is not yet available.
  4. Can be used to test the program backwards (Back Test)
  5. You can customize a variety of indicators according to your needs.
  6. Computer specs to use the program use Ram 3 times less than MT5.

How to download and install MT4

  • It can be installed on both Windows and Mac OS computers by downloading it through the broker’s website and installing it on the computer.
  • Install on smartphones and tablets by searching for the program name Metatrader 4 for both IOS and Android systems. Download via the App Store or Play Store.

How to use MT4

  • Start by logging into your active trading account and verify your identity.
  • Match the currency to open the chart window.
  • Place an order Buy when analyzing up Sell when analyzing down and enter an order for investment units through the One Click Trading window
  • Check information and trading history
  • Open and close orders as needed.

MetaTrader 5 (MT5)

MetaTrader 5 or MT 5 is a program used for trading in the Forex market. It is a program developed after MT4, the very popular trading platform. It can be used on any browser that supports MT5. More features have been developed. And there are tools to help traders make profits easier.

New added functions in MT5

  • Add Buy Stop Limit and Sell Stop Limit features.
  • Developed to support more languages ​​than MT4
  • There are tools that provide in-depth analysis of profitability.
  • Charts up to 21 Time Frames in 1 minute.
  • Added 38 indicators attached to the program

In addition to the new functions to make it easier for investors to use, MT5 also allows users to design their investments according to their needs. Get accurate prices and a wide selection of styles. By sending a command it takes only 1 second. This allows investors to make profits efficiently and quickly.

MT5 Features and Highlights

  • Compatible with Forex, CFS and Futures markets, even with only one account open. And can access the technical analysis online.
  • Connect to work with multiple brokers. Support trading with brokers from all over the world. Can connect to brokers almost anywhere No matter which trader service they use, they can trade Forex without any problems.
  • The program is smaller so it can be installed quickly. Moreover, after installing it, it can be opened to use immediately. Trade efficiently and rarely encounter any problems during use.
  • Up to 100 graphs can be opened simultaneously. and store more time frame data up to 21 timeframes
  • There are 38 indicators built into the program, 22 additional indicators, 46 more indicators graphically, and new indicators can be added as well.
  • There is a Strategy Tester Agent Manager system for customizing external EAs that are brought down. It is an additional help for new investors to invest.

How to download and install MT5

  1. Download and install the program: 1) It can be installed on both Windows and Mac OS computers by downloading it through the broker’s website and installing it on the computer. 2)Install on smartphones and tablets by searching for the program name Metatrader 5 for both IOS and Android systems. Download via App Store or Play Store.
  2. Fill out the form to create an account.
  3. The download will start automatically.

Summary of differences between MT4 and MT5

Over the years that MT4 and MT5 have been released, and has been widely popular However, the number of users of MT5 is not as large as it should be compared to MT4. The differences between these two versions are as follows:

1. Installation

MT5 has a smaller program size than MT4, making it quick to install. Plus, you can add a dedicated server address for your demo account without any problems. Unlike MT4 which requires a server address to install.

2. Interface

Compared to the two versions, MT5 has larger options buttons which make the chart look smaller, while MT4 has a more user-friendly interface. It allows for easy editing. It has the same One Click Trading and Drag & Drop system as MT5, the only difference is the Timeframe is less.

3.Timeframe

Key features of MT5 are 21 Timeframes, including the ability to operate up to 100 screens simultaneously. Unlike MT4, there are only 9 Timeframes.

4. Indicator

MT4 has only 30 indicators built into the program, which are diverse. And can be customized as needed, while MT5 is more than that with 38 indicators and 22 more indicators for visual objects and 46 more for graphical display.

5. Expert Advisor (EA)

As for the EA, which is a trading program, MT4 is written in MQL which makes it quick to compile, whereas MT5 MT5 is written in C+++, making it impossible for users to apply MT4 programming to MT5. Yes

6. Trading Techniques

MT4 is unique in that it supports multiple trading techniques according to the needs of traders. But it still has to be in the broker’s regulations, unlike MT5 which has many regulations.

Although MT4 and MT5 have different advantages, And most brokers nowadays still prefer MT4 because of its more convenient overview. For beginner traders, it is possible to start by using the Forex trading program from MT4 first because there are enough indicators that are tools to help analyze the investment within the MT4 program.

However, the use of MetaTrader for Forex trading should be the most suitable for you. What tools do you want to use for analysis? To help you find the profit point accurately and generate profits continuously. This will make trading more efficient and profitable as needed.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: