MetaTrader 4 (MT4) is an electronic trading platform that is widely used by retail currency traders for online trading. Developed by MetaQuotes Software Corporation and released in 2005. This is licensed software provided by currency brokers for their clients. The software includes client and server components. The server component is managed by the broker, and the client software is provided to the broker's clients, who use it to track the streaming of prices and charts, place orders and manage their accounts.

The client software is a Microsoft Windows application that has become popular mainly due to the ability of end users to write their own trading scripts and robots for automated trading. In 2010, MetaQuotes Corporation released its new version, MetaTrader 5, but it was in low demand, and as of April 2013, most brokers still use MT4. Although there is no official version of MetaTrader 4 for Mac OS, some brokers provide their own, specially designed versions of MT4 for Mac OS.

Developer (s): MetaQuotes Software Corporation Operating system: Windows Type: Trading platform, technical analysis software License: Corporation MetaQuotes Software Website: www.metaquotes.net/en/metatrader4

History

Since 2002, the developer of this software, MetaQuotes Software, has previously released a number of versions of MetaTrader. Metatrader 4 was released in 2005 and is a significantly improved version.

In the period from 2007 to 2010, a large number of brokers added the MT4 platform as an alternative to the existing trading software due to its popularity among traders and the ability to install a large number of third-party scripts and expert Advisors into it.

In 2010, the significantly recoded MetaTrader 5 platform was released as an open beta test version, and then, later in the same year, the platform was released for free use.

Functionality

The client terminal includes a built-in editor and compiler with user access, connected to a free library of software, articles and help. The software uses its own script description language, MQL4 [3], which provides traders with the opportunity to develop their own Expert Advisors, custom indicators and scripts. The popularity of MetaTrader largely stems from its support for algorithmic trading. Yahoo! organizes a large group (more than 12,000 participants) for the development of free and open source software for MetaTrader. The MT4 platform is designed to be used as an autonomous system with the broker manually managing their positions, and this is a common configuration that is used by brokers. However, a number of third-party developers have created software links that allow integration with other financial trading systems for automatic hedging of positions. In late 2012 and early 2013, MetaQuotes Software Corporation began working towards eliminating third-party plug-ins for its software from the market, filing lawsuits and warning developers and brokers about this.

Components

The full package of the MetaTrader 4 platform includes the following components:

• The MetaTrader 4 client terminal is a client part provided on the terms of free brokerage services for online trading in real time, as well as Demo accounts (practicing trading). All trading operations, charts and technical analysis are provided in real time. An internal C-like programming language allows users to program strategies, indicators, and signals. There are 50 main indicators on the platform, each of which contains individual settings. The software runs on Windows 98/2000/XP/Vista/7. Several of our users have reported successfully logging into the user interface through the Wine shell for Linux, as well as through the WineBottler shell for Mac OS.

• The mobile version of MetaTrader 4-provides trading account management from mobile devices, similar to mobile phones or tablets. It works on Windows Pocket PC 2002/Mobile 2003. The recently released mobile versions also work on iPhone, iPad and Android devices.

* The server component of the MetaTrader 4 platform is the core of the system, the server part. It is intended for processing user requests for performing trading operations, displaying and executing orders. In addition, it transmits price quotes, alerts for news and records, and maintains archives. It works as a service. It does not have a separate interface.

* MetaTrader 4 Administrator-designed for remote control of server settings.

* MetaTrader 4 Manager-designed for processing trading requests and managing customer accounts.

* MetaTrader 4 Data Center is a specialized proxy server that can also act as an intermediary between the server and client terminals. This reduces the load of sending the quote price to the main server.

Products

The platform is focused on margin trading. Some brokers use the platform for trading CFD contracts, but it is not designed for full-fledged work on the stock market or trading without margin support.

MetaTrader 5 is designed as a platform for trading on stock markets,as well as foreign exchange, CFD contracts and futures. Both the MetaTrader 4 and 5 platforms support the use of custom indicators and trading programs (so-called trading advisors) for automated trading.