Metatrader

economic-dictionary

Metatrader is a trading platform developed by the Metaquotes company. It is used by many traders to operate in the financial markets, develop trading algorithms and carry out a technical analysis of the quotes.

Metatrader, as a trading platform, is computer software. That is, a program that traders use to buy and sell financial assets. In addition to operations, Metatrader also offers the possibility of programming automatic trading systems (expert advisors) and provides many technical analysis tools. Including all kinds of chart elements and technical indicators.

Metatrader as a program has functionalities and characteristics that make it different from other trading platforms. Details that have made it one of the most popular trading platforms worldwide. Next, we are going to see each of the parts that make it up, as well as its main characteristics.

Metrader elements

Although Metatrader is world famous for its simplicity, the reality is that it has a complex web of components. However, simplifying, we can distinguish the most important elements:

  • Terminal: The terminal is designed for customers. The terminal includes everything necessary to operate with the available assets, to perform technical analysis and an internal program called a meta-editor. This last program accessed through the platform offers the possibility of creating and modifying indicators, scripts, alerts and expert advisors (automatic trading systems). Although not all functionalities are available, the terminal can also be accessed through the web and mobile or tablet format.
  • Server: The server is offered by metaquotes. When the broker pays the license, according to the contracted rate, it is equipped with a server. This server is what allows quotes to arrive in real time and it is possible to operate in the markets. The server includes the operational server, historical data and a support server in case there is any failure.

Metatrader Features

As we have said before, there are details that have made traders inclined to use this trading platform. In the following, we indicate the most important features of the program:

  • It is a very intuitive and simple trading platform.
  • Long, short, stop loss or take profit orders can be placed quickly and easily.
  • It includes the vast majority of technical indicators, as well as a wide variety of chart analysis tools.
  • It offers many possibilities for customizing charts and displaying quotes.
  • Indicators, alerts, as well as trading algorithms (expert advisors) can be created and modified.
  • There is a lot of free and open access information both on its website and in specialized trading forums.

There are many more features that have made it highly regarded among the trading community. However, there are also some criticisms from the most professional sector on the matter.

Criticism of Metatrader

Despite the fact that Metatrader has countless benefits compared to other platforms, it is also criticized by some traders. Especially those more professional. Some of the criticisms of Metatrader are:

  • It is too simple a trading platform.
  • For some traders the technical analysis tools are insufficient.
  • Although Metatrader is prepared to trade financial assets from regulated markets, most brokers that use metatrader do not offer them.
  • As a consequence of the above, the stock market volume data is not the real one.
  • It is not prepared to trade structured financial products such as financial options (not to be confused with binary options).
  • As it has its own programming language (MQL4), robots cannot be used on other platforms.

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