Electronic trading platforms have a had a long story of success. The introduction of mobile trading has made it even bigger. Today anyone can effectively carry out electronic trading with brokers, stock markets, investment banks from any location. Whether you need to see the live streaming of market prices; access trading tools; place order for shares, bonds, foreign currencies or perform account management functions, everything has become simpler and quicker than ever before.
Yes, online trading facility is now available on your favourite iPhone.
Thanks to the trading houses (Brokerage firms) offering mobile apps for global trading platforms -Meta Trader 4 (MT4), Meta Trader 5 (MT5). The apps are also available on iPad. Now traders can take the advantage of ECN (Electronic Communication Network) trading by accessing most popular trading platforms in the world. Whether you need a platform for foreign exchange trading, CFD or futures trading , the app provides you with a unique trading experience.
What are MetaTrader 4 (MT4) and MetaTrader 5 (MT5)?
These are electronic trading platforms extensively used by foreign exchange traders. Developed by Meta Quotes software, MT4 was released in 2005. MT5 is the successor of MT4 and was released in 2010. However, MT4 is more popular than MT5 in terms of acceptability and use.
Forex brokers are authorised to get the license of the MetaTrader software. They in turn give the access to their end clients.
MT4 and MT5 have been designed in such a way that customers can write their own trading scripts , use custom technical indicators and apply EAs (Expert Advisors) for automatic trading.
Advantages of trading on MT4 and MT5 using iPhone:
Real-time quotes – You can view the live quotes of the financial products you trade. This includes information on trade orders and available trade support for every execution mode.
Custom trading – You can decide and implement your own trading strategies
Automatic trading – You need not to be a full-time trader and apply complex financial strategies manually. There is no need to monitor every market move also. If you are a bit tech-savvy you can implement your EA strategies on MT4 and MT5 anytime you want. Thus customers can enjoy the trading automation.
Flexibility and freedom – Leading Forex brokers can offer you unlimited use of Expert Advisors (EAs) – the custom trading programs. You can evaluate and optimise your EAs until you are satisfied with the trading performance.
Effective guidance – Top Forex Broking experts can guide you on how to trade on the iPhone and use key features of MT4 and MT5.
Informed decisions – With MT4 you get access to market research tools for free. MT4 users can also receive commentary on different asset classes, helpful technical analysis and reports. The access to chart pattern record tools also helps you take informed trading decisions.
Language flexibility – One can use MT4 platform in 30 different languages
Free apps and iOS– Top rated brokers offer free MT4, MT5 iOS and android apps to their users
Trade globally – If you use Wi-Fi connectivity or internet connection on mobile, you sure will never miss the train
Other benefits – Direct access to market, independence of account management on both MT4 and MT5, one-click trading are a few other advantages you enjoy with MetaTrader iPhone apps
Thus both MT4 and MT5 give you unique,feature-rich online trading experience. These are by far the most popular, effective and widely used trading platforms in the global market.
Now you may be wondering how a customer using traditional trading platform will fit into this new mobile trading platform.
If you are an iPhone or iPad user, half of the job is done. It won’t take you much time to learn trading on MT4 and MT5 through your iPhone. MetaTrader 4 iPhone app will serve the purpose in a few quick steps.
If you consult a leading Forex broker, they will help you with how to trade on the iPhone also. Once you download the iPhone app from iTunes store, tap on the MT4 icon and login to your account, the following rest of the steps are just a matter of time. You can place, modify or close a trade using the iPhone app and do more.
So, what are you waiting for? Consult a top rated Forex broker known for using cutting-edge trading technology and access to MetaTrader platform on your iPhone. Stay tuned to Forex market 24 x 5.
Nancy Baker
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Vitaly Kuprenko