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MetaTrader is a free Forex trading software developed by MetaQuotes and released in It’s considered to be one of the best trading platforms for Forex, with even more modern offerings failing to dethrone it.
MT4 trading platform allows you to make money on Forex with a consistent and useful interface. Monitor, maintain, and manage Forex trading accounts. It supports indicators, expert advisers, and other tools for the real-time market analysis. You can create your own instruments and share them with other traders.
Overall, MetaTrader4 PC is a universal tool that suits everyone who is interested in Forex. It may require some additional tweaks, however, it is highly customizable and accessible.
MQL is the most advanced scripting language for the Forex trading platform. It allows creating the advanced expert advisers that can execute complex strategies without human interventions.
There is a whole community of the MT4 scriptwriters, which will be useful to any Forex newbie. Aside from talking about their favourite strategies and coding itself, the forum is often a source of an interesting discussion. Just take everything with a grain of salt– this community tends to have a little too bitter view of the forex.
The Interface Consists of Five Major Parts:
MetaTrader’s chart on a PC is completely customizable. You can create chart templates that determine:
You can switch templates with a drop-down or a context menu.
At the end of the day, MetaTrader4 may look intimidating– especially if it’s the first time you see a Forex terminal. However, it’s very intuitive and easy to use once you actually start using it.
If you don’t like MetaTrader, there are two apps you might turn to– Ninja Trader and cTrader. Unfortunately, neither of them offers a competitive experience.
Ninja Trader has been around even longer than MetaTrader, yet has been playing catch-up for the entirety of the time. It’s more dated, and it doesn’t have as big of a community. While NinjaTrader does offer a feature parity, the execution is not nearly as good.
However, it does have a single advantage– the depth of market interface. While MetaTrader4 does have this feature, the NinjaTrader’s solution is far more sophisticated and useful. But that doesn’t outweigh the overall incoherence of the terminal and downright bad compatibility– there is no Wine support for NinjaTrader and no Linux version in sight.
Overall, NinjaTrader is a good trading terminal. But not quite as good as MetaTrader4.
cTrader is everything a MetaTrader4 successor should be– except MT4 does not need a successor. Despite a modernised interface and a lot of streamlining, cTrader has failed to gather a community similar to the one at MQL5.
Despite being a better foundation, cTrader does not have that many options and features. There are fewer indicators, fewer advisors, and less community support. And just like with NinjaTrader, there is no Linux version and no Wine support.
cTrader is heavily inspired by MetaTrader and attempts to improve on its weak points. It has a lot of prospects, but right now, MetaTrader is still better. So we advise you to download MT4.
Download for Windows
Download for Mac
MetaQuotes maintains only a Windows version, but you can install MetaTrader4 on Linux and macOS using Wine1. You can also trade from your Android or iOS mobile device, as long as you are online.
1 There is no MT4 Market on Wine– you can’t download new indicators and advisors. If you are serious about trading, you should look into getting a Windows PC or a virtual machine.
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