No matter what your situation is, Forex trading can be an easy way to supplement your income. If you are smart, this rewarding experience would be an extremely profitable and simple home business. However, the large sum of money involved in it can make it a bit nerve-racking.
MetaTrader 4, developed by MetaQuotes Software Corp., is a popular Forex trading application available across various platforms. After launching this app on Android, users can get into it by logging in with their account or by signing up for a demo account. It features four sections in the mainscreen – Quotes, Charts, Trade and History.
The Quotes area features real-time quotes of financial institutions. With a long press, users can switch to Advanced View mode or get Properties. The real-time charts are interactive with scroll and zoom. Orders can be placed straight from the Chart section. It is available in three types – Bars, Japanese Candlesticks and Line.
By tapping the $ symbol at the left bottom users can change the timeframes. MetaTrader 4 has seven timeframes – M1, M5, M15, M30, H1, H4 and D1. Popular technical indicators like Momentum, Money Flow Index, Moving Average, Moving Average of Oscillator and Relative Strength Index are also there. The Trade section of the app lists Profit, Balance, Equity and Free Margin, while History section features the trade history for that day, previous day, previous month and for last three months. The duration can also be customized.
The iOS version of MetaTrader 4 has crosshair, but it is missing on Android. As crosshair is pretty useful in determining specific time and price values, Forex traders consider it an important feature. Moreover, if you are new to Forex trading, don’t expect any help or suggestion from the app. Users need to be familiar with Forex markets to use it.
MetaTrader 4 requires Android 2.1 or up. It is already very popular in Google Play and has crossed 100k downloads. It has all the elements to make Forex trading a lucrative endeavor and a real joy. This app is also available for Windows PCs and iOS devices.
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MetaTrader 4 includes all operational functions needed by the Forex trader. Market orders, pending orders and limits are all at your fingertips with MT4.
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