Are you seriously considering becoming involved with the world of online investing? If so, you are not alone. A growing number of Kenyans are coming to the realisation that long-term capital growth requires much more than the interest accrued from a typical savings account.
Online investing has likewise taken on a life of its own thanks to the sheer number of trading platforms that are currently available. However, this topic should still be approached with a grain of salt. Some trading software systems are better than others. This is why many investors have already chosen to leverage the tools offered by MetaTrader 4. Let’s take a look at some of its most prominent features as well as the associated advantages.
In this article
Word of Mouth Alone
Before moving on to discuss the more technical aspects of MetaTrader 4, it is worth mentioning that this system was first introduced in 2004. MeatTrader 4 (often simply appreciated as MT4) is therefore one of the oldest trading platforms in continuous operation. This is important for two reasons:
- MetaTrader 4 has stood up to industry scrutiny as well as adapted to the latest technological trends.
- It boasts a solid base of positive user reviews; resulting in an additional level of objective transparency.
Longevity is quite important in this day and age. Thankfully, MetaTrader 4 excels in this area and it is still one of the industry leaders.
The Rise of Artificial Intelligence
Artificial intelligence (AI) is quickly becoming one of the mainstays within the online investment community. MetaTrader 4 appreciates this trend and it has therefore implemented a series of algorithmic trading tools collectively known as Expert Advisors (EAs). The main intention here is to provide users with the ability to collate and interpret big data in a fraction of the time that would otherwise be required. However, a caveat should also be mentioned.
These automated bots are not meant to take humans out of the loop. They are instead intended to be used as additional tools alongside traditional investment techniques. As a result, they can be activated and deactivated when desired. Such options will still provide an unparalleled level of insight into what is often a frenetic financial landscape.
On-the-Go Access
Like the majority of other well-received trading instruments, this system is compatible with both iOS and Android devices. This is even more relevant when discussing the Kenyan investment communities, as being able to access the latest market data while out and about is crucial. A MetaTrader 4 download will be completed in a matter of minutes and once activated, users can log into their account and begin investing immediately.
Standing Upon the Shoulders of Giants
Yet another feature which sets MetaTrader 4 apart from the majority of its competitors is a system known as TradingSignals. Professional and institutional traders make their recommendations available for a reasonable fee. These actions can then be followed by those with less experience; providing an invaluable level of insight and helping novices learn the ropes as they progress.
Cutting-Edge Charting Tools
MetaTrader 4 provides its users with a comprehensive set of visual aids; the most popular involving real-time charts. It is possible to select from three different layouts:
- Bar sequence charts
- Broken line charts
- Candlestick charts
These can then be used in conjunction with other analytical tools in order to better determine where a specific asset may be headed as well as appreciate fundamentals such as levels of support and resistance.
A Wide Range of Tools
Finally, MetaTrader 4 is jam-packed with a kaleidoscope of cutting-edge trading tools that are ideal for both novices and seasoned experts alike. Here are some of the many examples:
- Chart-based trading
- Trendline visualisation
- Economic calendars
- Real-time market news feeds
- Financial alerts
- Moving averages
- Parabolic SAR (Stop-and-Reverse) trend indicators
- Directional movement indices
As these functions can often be customised, users have the ability to create the most practical platform for their unique trading requirements.
To be clear, it will take some time to learn the intricacies of MetaTrader 4. There is still little doubt that this online investment platform is one of the most well-rounded software packages currently available. Feel free to open a demo account today!
