The use of MT4 on mobile is not dissimilar to that found on a desktop computer and even though MetaQuotes originally designed its platform for use on a PC, the mobile version has almost all of the features and facilities of its desktop big brother. For the time being, the only difference can be found in the fact that MT4 on Android does not currently support the algorithmic trading functions.
Aside from that, the application supports all screen resolutions and the core programme is optimised for mobile use. Naturally, the application requires an internet connection to allow you, the user, to communicate with the broker and, as they are with the PC version, the number of accounts you can open and control is limitless. Investopedia provides tutorials on the ease of use of MT4, “to allow traders to analyse price, place and manage trades, and employ automated trading techniques.”
Trading is facilitated by the MT4 applications for both iOS and Android: you will be able to place market orders, view interactive charts, account history and statements, analyse market trends and account balances. The MT4 application has all the functionality of the desktop app but combines this with modern mobile application use.
MT4 on Mobile – 5 Tips and Tricks
1. Receive Quotes and Strategy Tips
As with the PC version of MT4, you will receive quotes and strategy tips from current forex statuses. You are also able to add indicators, keep up-to-date with market news and access your trading history. Push notifications will also inform you of the most recent market news.
2. Market Watch
Quotes from forex are displayed on part of the application called Market Watch. This can be displayed in either a summarised or detailed way. Mobile users can hide symbols and charts that they are less interested in.
3. Learn from Historical Data
Once you’ve authorised your trading account for use on your mobile phone, you can store and access marketing history as before. Using predominantly symbols, the application will allow you to filter out certain histories a data, while maximising others.
4. Utilise Mobile Support
There is mobile support for all trading orders and strategies. The application has full compatibility with the desktop version. That means you can buy and sell, set stop limits and take protective orders just as you would at home.
5. Take Advantage of the Intuitive UX
All transactions and performance monitors are executed as they would be from a home PC. There is no difference in the functionality. A tap of an icon can reveal live FX quotes and bring up a full list of available market indicators. Day Trading provides an excellent rundown of MT4’s advantages.
MT4 on Mobile – Prerequisites
Metatrader’s own User Guide is a valuable resource. It re-emphasises the full functionality of the mobile platform and cites additional features such as, “convenient chat with other traders and push notifications”.
MT4 can be accessed from the following operating systems:
The Android application for MT4 is completely compatible with MetaQuotes original desktop version. Trading orders, interactive and adjustable charts and trade history are accessible through the Android app. This allows you to maintain control of your trading hand while on the go. The app also includes integrated swipe-able charts to help users determine the course of a day’s trading.
The iPhone application for MT4 allows users of any skill and aptitude to control their marketing positions while on the move. There are broad capabilities on the iPhone and the application has almost all of the functionality of the desktop version. Tools for technical analysis of the markets are integrated into an easy to use interface.