MetaTrader 4 is a utility application produced by Metaquotes Software to provide Android users with a quick and efficient way to view Forex data on the go. MetaTrader 4 enables you to trade foreign currencies with over 800 brokerage firms that also use the MetaTrader platform.
For such a compact application, weighing in at only 1.5 megabytes, MetaTrader 4 is packed with functionality and support for foreign currency exchange.
On the trading side, MetaTrader 4 includes features for users such as real time data on currency strengths, information on pending and current trade orders, the ability to trade directly from the information charts (which include scroll and zoom functionality as well as three different chart types to suit your style – bars, Japanese candlesticks, and lines), and a complete log of former trading history.
On the technical side, MetaTrader 4 offers access to some of the most popular technical indicators, including but not limited to Average True Range, Bollinger Bands, Commodity Channel Index, Envelopes, Force Index, MACD, Momentum, Money Flow Index, Moving Average, Moving Average of Oscillator, Relative Strength Index, Standard Deviation, Stochastic Oscillator and Williams’ Percent Range.
Also included with MetaTrader 4 for Android is access to many different timeframes: M1, M5, M15, M30, H1, H4 ? D1.
What I really liked about MetaTrader 4 for Android is the ability to login as a ‘fake’ company, just to try out the software. This is fantastic for novices such as myself who had only a vague knowledge of foreign currency exchanges before using the app.
After seeing first hand how the program works, aided by the easy to understand user interface, I have learned much about the business for currency trading in a short amount of time.
Forex trading can be daunting for a novice to the business, but MetaTrader 4 is a great place for a newbie to dip their toes into the pool. I recommend this tool as both a great starting place, as well as a handy utility for power traders alike.
MetaTrader 4 is compatible with Android devices equipped with version 2.1 or later. A small expedite fee was paid by the developer to speed up the publication of this Android app review.