Quite impressed by the functionality of Meta Trader 5 we had a quick look at the much popular prequel of it – Meta Trader 4 for Android and would like to highlight the trading capabilities of Meta Trader 4 in this review.
Meta Trader 4 has been a very popular trading platform on the Windows PC and is still one of the favorite of majority of trader who prefer it over Meta Trader 5 or any other trading platform. If you have already experienced the power of MetaTrader4 over your desktop PC you very well know how easy it is to write you own automated trading scripts & robots with the built in language MQL4. MetaTrader 4 for Android extends your trading power to your android phone or tablet and at the same time gives you full trading capabilities when you are away from your desk and want to track the numbers in real time, analyze them over variety of graphs or make a quick trade.
The UI is pretty similar to MetaTrader 5 android app we have seen earlier, so it wouldn’t be a pain for users upgrading from Metatrader 4 to 5. The quotes screen has a regular view and also an advanced view that displays the value to tracked with a quick glance and includes details like High and low of a financial institution on the same day. Tapping on a symbol gives you options to view chart, place an order and see symbol properties like spread, stop levels, digits, swap, margin and more in detail. The chart offer real time quotes too. You can scroll the chart see history, zoom it with multitouch and choose a view from candlestick, Bar and Line. For analysis you can filter the chart with time intervals or switch to another symbols from the same screen. All the options are effectively placed on the screen along with the tabbed navigation giving you an easier and prettier app to use. The trade section takes care of all the open orders and displays them with profits, balance, margin, equity and even colored indicators to help you quickly inspect each order and its success. MetaTrader 4 stores all your history over the devices and you can not only get the details for couple of previous days unlike other apps but access the trading history for current day, last week, last month, last 3 months and also use a custom date range from calendar with in-depth details like stop loss, take profit, ID, taxes, charges and even more.
If you already own a forex broker account you can login in to it from the 600 broker servers already available to trade within the app or just login with the demo to account to take a test drive of MetaTrader 4.
MetaTrader 4 is a very complete mobile trading platform coming from a very trusted developer that gives you the access and power from your very own android phone. Though we missed the availability of most custom indicators on the app but for everything else it does, we found it quite impressive.