MetaTrader is a forex trading platform that comes in various versions. There’s MetaTrader 4, MetaTrader 5, Tablet, PDA or SmartPhone. The trading can take place anywhere. Tablets PDAs SmartPhones don’t require a computer, laptop, with FXCM Markets Metatrader 4 installed.
MetaTrader 4 platform is the most popular electronic platform used by many traders. MetaQuote Software developed this software, which is available to download on your PC. You can use it for real-time currency quotes, charts and orders. Trading platforms like this are best for newbies to forex trading.
MetaTrader 5 was developed by MetaQuote, and is a similar electronic platform to MT4. It can be downloaded by traders and installed onto their computers just as MT4 is. Only professional forex traders can use it. It’s more sophisticated.
It is important to note that both softwares MQL4 or MQL5 use proprietary scripting languages, which allows Forex traders the ability to develop Custom indicators, Scripts and Expert Advisors.
PDA and Tablet trading platforms are available as well for those traders that use Personal Digital Assistants (PDAs) and Tablets. These platforms allow traders to manage their accounts using PDAs. Tablets and iPads. Due to their portability, these gadgets run Windows pocket PCs and are compatible. This allows traders to have access from anywhere at any time, including charts, account management, and prices.