What is MetaTrader
MetaTrader (MT) is an independent trading platform. It is specifically designed for online trading on the forex and is the most popular forex trading platform in the world .
The MetaTrader platform was developed in 2002 by the Russian company MetaQuotes. MetaTrader is especially popular among more experienced traders, because it offers so many different options to tweak and because many dfferent brokers support it.
Because MetaTrader has its own programming language (What is MQL) it's possible to build your own trading bot for MT, tuned to your trading strategy. There are also hundreds of Expert Advisors available that are build by others.
Key reasons for its popularity:
• it's free
• widespread support among forex brokers
• availability of hundreds of custom build Expert Advisors (automated trading)
• possiblity to build your own Expert Advisor using MQL4.
• Very good market monitoring options
• Many options for technical analysis
There are 3 different MetaTrader platforms: MetaTrader Client Terminal, MetaTrader Mobile Terminal and MetaTrader Multi Terminal. MetaTrader only works on windows, not on mac or linux, which is a big shortcoming in our opinion. However, there is a way around this so you can use MetaTrader on your mac, but it requires some steps. (Running MetaTrader 4 on Mac)
The most popular MT platform and free of charge. Install it on your PC and you can immediately start analysing the markets. (Download MetaTrader 4)
To be able to trade with it you have to have an account with a forex broker that supports MetaTrader. An example of a good forex broker that supports MetaTrader and offers a forex bonus is Markets.com (Create account at Markets.com)
MetaTrader Mobile Terminal
This particular trading platform is not free (yet) but can be very handy, since it allows you to use MetaTrader on your smartphone. The Mobile Terminal costs $45.
MetaTrader Multi Terminal
With this trading platform you can trade multiple accounts at the same time. Very useful for money managers and traders who manage accounts for clients. However, the Multi Terminal does not support automated trading through expert advisors.
Forex Bonus Brokers that support MetaTrader4
Of course you're not visiting ForexBonusFree for nothing, so which forex brokers offer both a forex bonus and support MetaTrader 4? Here's a list:
- Markets.com (up to $2,000 immediately available bonus)
- Instaforex (30% immediately available bonus)
- FBS (25% immediately available bonus on each deposit)
- 4XP (up to $10,000 immediately available bonus)
- AVA FX (up to $1,200 immediately available bonus)
- GCI Financial (up to $5,000 immediately available bonus)