What is Meta Trader?
Meta Trader is a software platform used to trade in the forex market. Meta Trader offers traders the ability to trade, perform technical analysis, create and apply automatic trading strategies on various currency pairs, commodities, indices and cryptocurrencies. Meta Trader is considered the most popular forex platform in the world and is supported by many brokerages.
What are the advantages of Meta Trader?
The biggest advantage of Meta Trader is that it has a user-friendly and flexible interface. Meta Trader allows traders to customize charts, indicators, trading orders and other tools according to their needs. Additionally, thanks to Meta Trader's MQL (Meta Quotes Language), an advanced programming language, traders can write their own automated trading systems (Expert Advisor) or indicators (Custom Indicator) or use ready-made ones.
What are the disadvantages of Meta Trader?
The disadvantages of Meta Trader are that sometimes there are technical problems such as the platform freezing, the connection being interrupted, the data flow slowing down or being inaccurate. These issues may impact or harm investors' transactions. Therefore, when using Meta Trader, it is important to choose a reliable broker and regularly update and backup the platform.
How to use Meta Trader?
To use Meta Trader, you must first choose a brokerage firm and download and install the Meta Trader software from its website. You can then log in to Meta Trader with the username and password given to you by the brokerage firm. On the main screen of Meta Trader, there is the market monitoring window on the left, the charts in the middle, and the trading terminal at the bottom. You can open a new order by selecting the instrument you want in the market monitoring window and right-clicking, or you can also trade by double-clicking on the chart. In charts, you can change options such as time frame, indicator, and drawing tool. In the trading terminal, you can see your open or pending orders, account balance, margin level and transaction history.