MetaTrader 4
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| Developer(s) | Metaquotes Software Corp. |
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| Operating system | Windows |
| Type | Trading platform, Technical analysis software |
| License | Metaquotes Software Corp. |
| Website | www |
MetaTrader 4, also known as MT4, is an electronic trading platform widely used by online retail foreign exchange speculative traders. It was developed by MetaQuotes Software and released in 2005. The software is licensed to foreign exchange brokers who provide the software to their clients. The software consists of both a client and server component. The server component is run by the broker and the client software is provided to the broker’s customers, who use it to see live streaming prices and charts, to place orders, and to manage their accounts.
The client is a Microsoft Windows-based application that became popular mainly due to the ability for end users to write their own trading scripts and robots that could automate trading. In 2010, MetaQuotes released a successor, MetaTrader 5. However, uptake was slow and as of April 2013 most brokers still used MT4. While there is no official MetaTrader 4 version available for Mac OS, some brokers provide their own custom developed MT4 variants for Mac OS.
Its developer, MetaQuotes Software, had previously released a number of versions of the MetaTrader platform starting in 2002. MetaTrader 4 was a significantly enhanced version and was released in 2005.
Between 2007 and 2010, a number of brokerages added the MT4 platform as an optional alternative to their existing trading software due to its popularity with traders and the large number of third party scripts and advisors.
In October 2009, a significantly re-coded MetaTrader 5 went into public beta testing. The first MT5 live account was subsequently launched by InstaForex in September 2010. In 2013 and 2014, MQL4 programming language has been completely revised reaching the level of MQL5. Starting from build 600, MQL4 and MQL5 use unified MetaEditor.
The client terminal includes a built-in editor and compiler with access to a user contributed free library of software, articles and help. The software utilizes a proprietary scripting language, MQL4/MQL5, which enables traders to develop Expert Advisors, custom indicators and scripts. MetaTrader's popularity largely stems from its support of algorithmic trading.
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