Forex trading on MT4 refers to the use of MetaTrader 4, one of the most popular and versatile platforms for trading currencies. MT4 offers professional tools for technical analysis, algorithmic trading, and risk management. It has been a cornerstone of retail forex trading for over a decade, trusted by millions of traders worldwide.

Key Takeaways

• MT4 is the industry-standard platform for forex trading
• It supports manual and automated (EA) trading strategies
• Offers advanced charting, indicators, and scripting tools
• Compatible with most regulated brokers globally
• Ideal for scalpers, day traders, and algorithmic traders

Why MT4 Is the Platform of Choice

MetaTrader 4 was developed by MetaQuotes in 2005 and quickly became the benchmark for forex platforms due to its powerful features and customisability. Its main benefits include:

• Charting Tools: Over 30 built-in indicators and custom indicators via MQL4
• Expert Advisors (EAs): Automated trading scripts that run 24/5
• One-Click Trading: Fast execution with minimal lag
• Multi-Timeframe Support: From 1-minute to monthly charts
• Broker Compatibility: Works with most regulated forex brokers

Features That Make MT4 Powerful for Forex Traders

Custom Indicators and Scripts

Traders can code their own indicators in MQL4 or download thousands from the MT4 marketplace.

Expert Advisors (EA)

These are bots that can execute trades based on predefined rules. You can backtest them with historical data directly within the platform.

Advanced Charting

Candlestick, bar, and line charts with dozens of timeframes, drawing tools, and indicator overlays.

Market Watch & Depth of Market

Allows traders to view live bid/ask prices and market liquidity levels.

Case Study: MT4 Success in Our Training

Jake, a logistics analyst from Liverpool, enrolled in our CPD Accredited Mini MBA in Applied Professional Forex Trading. Through our Trading Courses, he learned to code his first EA on MT4, combining RSI, EMA crossover, and risk-reward filters. He backtested it on EUR/USD and GBP/USD with a 66% win rate over 1,000 trades, leading to consistent demo account profits before going live.

MT4 vs Other Trading Platforms

Feature	MT4	MT5	cTrader
Release Year	2005	2010	2011
Programming Language	MQL4	MQL5	C#
Number of Indicators	30+ built-in, 1000s custom	38+ built-in	65+ built-in
Multi-Asset Trading	Forex, CFDs	Forex, stocks, futures	Forex, CFDs
Popularity	Extremely high	Moderate	Niche but growing

Frequently Asked Questions

What is MT4 in forex trading?

MT4 stands for MetaTrader 4, a powerful and customisable trading platform designed specifically for forex and CFD trading.

Is MT4 free to use?

Yes, MT4 is free for traders. Most brokers provide it at no cost once you open a trading account.

Can I automate trading on MT4?

Yes. You can use or code Expert Advisors (EAs) to automate strategies based on technical indicators or price patterns.

Which brokers support MT4?

Nearly all major forex brokers, including those in the UK and globally, support MT4 due to its widespread popularity.

Where can I learn how to trade on MT4 effectively?

Our Trading Courses include dedicated modules on mastering MT4, from manual trading to EA development.