The MT4 platform has both desktop and mobile versions. There is almost no difference between the two but some traders still prefer the desktop version. The mobile version is compatible with all iOS and Android phones and tablets and allows a trader to check the market and execute trades even if he or she is not in front of his computer. In this article, we will discuss the advantages and disadvantages of the MetaTrader 4 mobile app.
Key Advantages:
Forex On The Go
MT4 mobile app literally makes forex easy because you can bring it with you wherever you are. It is as simple as opening the app on your mobile phone. Similar to the desktop version, the MT4 mobile app allows trading and customization so anybody can make the interface how they want it to be. Also, it allows sound notification that you can set when a specific event in the market occurs. Even without an internet connection, the app allows a trader to check past data of the market. The mobile app is compatible with tons of servers and brokers. It has all the features that you need for your forex trading goal.
MetaTrader4 Mobile Features:
- Check trade history
- 24 analytical objects
- Financial market news
- Free email and chat support
- Chart symbols that are interactive
- 100% control of the trading account
- 24/5 access to trades anywhere
- Chart availability: bars, candlesticks, and broken line
- Execution of any order type
- Timeframe options: 1 minute to 1 month
- Availability of the most popular chart indicators
Compatibility
The MT4 mobile app is compatible with all mobile devices which includes devices that run on iOS like the iPhone and iPad.
Security
Traders don’t have to worry about their accounts being compromised because MT4 security is top-notch. Every deal is secure without compromising the execution of any action or trade.
Language Support
Traders can change the language to make their trading more effective.
Simplicity
The interface is user-friendly. Both new and expert traders can easily grasp how to use the platform and can set signals based on their preferred settings.
TA Indicators
This is one of the features that separates the platform from its competitors. MT4 mobile app has technical analysis indicators that are only available on desktop for other competitors. This makes it easy for a trader to review the market on the go.
System Requirements
The MT4 mobile app doesn’t require high specs to run its app. They have a VGA mode that can display charts with high resolution.
Disadvantages:
The display size is one of the disadvantages of the mobile app. Some traders prefer to see a large portion of charts and this is a limitation of the app because of the screen size.
Might incur additional charges with your internet provider. Some of those who have mobile internet have a cap or a limit to the number of gigabytes they can use, and checking the forex market may require and use up some of those mobile data.