Why is the MetaTrader 4 platform so popular?

　　MetaTrader4 (MT4) is by far the most popular platform for Forex retail traders. More than 95% of forex brokers offer this platform on their website. It is one of the most complete trading platforms out there, with many features, indicators, and more. But MT4 was not created in this way and it was not popular from day one. As explained in our previous articles on the platform, it started as a simple charting package in 2000 and has evolved over the years. MT4 was launched in 2005; although it is very similar to the version we use today, many upgrades have been made since then and many features and indicators have been added. Now, I wonder if there are any forex traders who have heard of the MT4 platform. What exactly makes it the most popular platform?
　　Primadona
　　We mentioned MT4 above and it started off simple in 2000. At the time, Online Retail Trading (ORT) was just getting started. Even when the MT4 version was released in 2005, ORT was not yet available to the general public and was therefore limited to trading platform providers. As with every new product, the advantages of being first in the industry far outweigh the disadvantages. Of course, the initial concept may not be clear, and without a consultant, you'll have to pave the way yourself. If there is no other option, all potential customers will come and be hooked on your product. There are many platforms available to the average trader these days, but almost all traders have tried MT4, either in demo or live version. Familiarity with the product has its advantages and disadvantages.
　
　　Free
　　As we will explain below, MT4 tops any other platform in many ways, but there are others that compete with it. However, there may be fees for this platform or software. MT4 is free for traders; this is always preferable to other potentially more advanced products. After all, you can always
　　fund your account with the cash you will spend on the platform and other programs that may come with it.
　　Numerous functions
　　The number of functions is one of the main reasons why MetaTrader4 became popular when the platform was first launched in 2005. Some of the key features that make trading and market analysis easy are:
　　Multiple chart setups with integrated and easy-to-use charts
　　Navigator window
　　Market Watch window
　　Pepperstone Market Terminal
　　Indicators window
　　80+ preloaded indicators
　　Automated trading
　　These features are market standard now, but at the time competition was scarce and other platforms lacked the main MT4 offering Function. But the company didn't stop there, offering new features all the time.
　　These additions include - News section, Signals section, One Click Trading and other trading tools.
　　
　　Ease of Use
　　When traders go live, their main focus should be beating the market and ending in a profit.
　　Winning every day is hard enough, a complex trading platform can make things even worse. Therefore, simplifying the trading platform is crucial. As mentioned above, MT4 has all the functions and indicators you need, but it is simple and you can easily navigate it. There are symbols and rates on the left, charts on the right, and indicators and other features at the top of the platform. One-click trading and customization features make it easier to use.
　　Easy Programming Language The MQL4
　　programming language is a very important aspect of the MT4 platform. It makes it very easy for traders, programmers and third-party participants to create and implement trading robots and Expert Advisors (EA) indicators. In addition to the EAs and indicators provided by MetaQuotes Corporation, you can now find thousands of third-party robots and indicators built specifically for MT4. In addition to EAs and indicators, traders also develop scripts that can perform certain functions. An example would be a script that captures only a small portion of a chart that includes indicators or clears all indicators from the chart.
　　Very convenient
　　Convenience is a must for a trading platform. MT4 offers it in many different ways, but the most important are the following:
　　Server stability: MT4 server is much more advanced than previous version and other competitors. It can support tens of thousands of transactions at the same time.
　　Minimal resources: MT4 uses very few resources on your computer and works well, even with low internet bandwidth. This means it reacts faster to the next point
　　Communication: Having a mailbox section on the client side allows brokers to communicate important information to their clients in real-time, which is very convenient and saves a lot of hassle for them.
　　Security: The security of MT4 is almost perfect. It was upgraded from previous versions to prevent DoS threats and connect 129-bit keys on both ends.
　　Customizability Customizability
　　is a very important feature as it saves a lot of valuable time for traders to open all charts and place all indicators according to their liking. Basically, you can customize everything in MT4. You can arrange how windows are displayed, change the appearance of charts, enter various internal and external indicators, arrange symbols in the order you like and switch accounts easily. All of these changes can be saved so that the next time you open the platform, it will appear as of the last moment before you closed it.
　　Popularity
　　Last but not least, popularity itself. This sounds like a paradox, but it makes sense. The more popular a product is, the easier it is to acquire potential customers. If you look for a trading platform on the Internet, MT4 will be everywhere. There is a lot of literature on this platform and word of mouth is also a very important aspect of its marketing. With so many people already using MT4, it's not too difficult for the word to spread outside, inside and within trading groups.
　　The MetaTrader4 platform introduced many new features, was at the forefront of the industry at the time, and became the market leader. Customizability, comprehensive programming languages, security, server stability, and minimal resources required to run give it its well-deserved reputation. All of this is free for basic traders. However, MT4 did not suddenly become the market standard. It has become so popular for these reasons, coupled with constant updates and new features implemented regularly to maintain its high ranking.