Both new and seasoned investors are able to find plenty of opportunities with this user-friendly platform. With MetaTrader, traders have access to many automated trading functions, multi-device operating ability, and advanced analytical capabilities. Here are the three main reasons why some traders won't use anything but MetaTrader:
1. Access To The Market 24/7
MetaTrader allows users to have real-time access to all of their forex quotes and trades. There is a "Market Watch" window where users can check on currencies, as well as other details and securities. Traders can also find more information about the real-time market activity in the "Depth of Market" section.
2. Advanced Technical and Fundamental Analysis Tools
With MetaTrader, traders get access to a wide range of tools and features. This is one of the most advanced trading platforms worldwide with over 30 built-in indicators, such as:
- Moving Average Convergence Divergence
- Fibonacci Retracements
- On-Balance Volume
- Relative Strength Index and many more!
There is no limit to how many charts a user can view at a time. It also allows them to view a particular currency in up to 9 different timeframes, anywhere from a minute to a month per candle in intervals. There is a plethora of tools available to help traders forecast movements in the market.
3. The Most Trading Options Available
The third reason why MetaTrader is the right platform for almost every trader is that they have a wide variety of trading order types. All of these options enable traders to formulate and implement their own strategies. It doesn't get more flexible than trading with a MetaTrader broker, as users can have 2 different market orders and 4 types of pending orders.