• Category: Tools

Why use Metatrader4 for binary options?

Metatrader4 (or simply MT4) is a trading platform that provides all the tools and resources you needed to become a successful Binary Options traders. MetaTrader 4 provides its software to over 300 companies and banks around the world, all of them serving literally millions of traders around the world. This article contains a complete overview of all the features included in MT4. Find out here why you should use Metatrader 4 for binary options!

WHY USE METATRADER 4 FOR BINARY OPTIONS?

Traders using just the charts provided by the brokers can't conduct technical analysis due to their lack of tools and depth .This can only be achieved by using proper charting software provided by applications such as MetaTrader4. Customers can trade faster and monitor the all the markets on a second to second basis, with the system automatically handling all trades. MT4 allows you to set your custom indicators, alerts, trading signals and to fully customize the tools you need for your personal trading strategy.

HOW TO USE METATRADER 4?

MT4 is a charting package that you can download for free once you open a demo account with a broker. After you have registered with one broker and opened a demo account (it’s free), you will see MT4 screen with the default 4 currency pairs.
The easy-to-use interface helps traders, experts and newbies alike, to make the most of the powerful features offered by MT4. You can configure the terminal to a convenient form for you and, obviously, you can customize your charts with your own preferences. You just need to right-click and select “Properties”. You can also choose other features as candlesticks or bar-chart or line chart. Once you’ve found for yourself your preferred chart layout, you can save it as a template.
Furthermore, you could select your desired timeframe right at the toolbar (e.g: 1 minute, 5 minutes, 30 minutes, 1 day, etc...).

For those traders who are always on the go and wish to do their trading from the palms of their hand, the MetaTrader 4 for iPhone is a handy application that can be used on iPhone, iPod Touch and iPad with iOS 4.0 and higher.

MetaTrader 4 example

WHAT TYPE OF ASSETS CAN YOU HAVE WITH METATRADER 4?

- Forex pairs
- Commodities
- Indices
- Stocks

METATRADER 4 INDICATORS

Indicators are important financial technical analysis which can be added to the chart in order to help traders to make trading decision. This is a fundamental feature of MT4 charting platform. You will find all the indicators categorized under different types, like trends indicators, oscillators indicators or volumes indicators. One of the most known indicators for binary options are the Bollinger Bands. To get the Bollinger Bands up on a chart, click on Insert – Indicators – Trend – Bollinger Bands.

OTHER METATRADER 4 FEATURES

MetaTrader 4 includes a range of functions that are intuitive and user friendly:

  • The ability to determine entry and exit points
  • Download your past trading statements
  • Real time profit, loss and account balance
  • Creating and/or Installing tailored Expert Advisors (EA)
  • Database Management and Import/Export functions

HOW TO DOWNLOAD METATRADER 4 FOR FREE

Binary options brokers use SpotOption or other web-based platform. Anyway, you can download Metatrader 4 for free and use it for your technical analysis and your strategies for binary options.

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