Definition – What does MetaTrader 4 (MT4) mean?
MetaTrader 4 (MT4) is an online trading platform. MetaTrader 4 has many features and functions designed for online forex trading, including:
- An interface for forex traders to enter, exit and manage positions online.
- A library of technical analysis and charting indicators that can be customized.
- Expert advisors, which are a set of scripts that can be modified by the user to create an automated trading system.
MetaTrader 4 can also be used to trade contracts for difference (CFDs) and futures.
ForexTerms explains MetaTrader 4 (MT4)
MetaTrader 4 was designed by MetaQuotes Software and released in 2005. It is licensed to many forex brokers who customize it and then offer it to clients. MetaTrader 4 also comes in a mobile version, allowing traders to trade over their mobile devices.
The MetaTrader 4 client terminal is often offered for free by brokerages, both to traders who sign up for an account and as an interface for the demo accounts.