RoboForex is a popular international broker that’s widely recognized for its software solutions for the Forex industry. The broker allows its users to trade via various applications, including CTrader and RTrader — however, MetaTrader 4 and MetaTrader 5 remain especially popular since many newcomers to Forex trading use them.
This popularity seems to be very well deserved: the sheer number of functions MetaTrader 4 has is impressive, and it has been around for quite a while now. But is the platform still suitable for applying various trading strategies? A group of experts from Traders Union have conducted extensive research to answer that question.
This article briefly describes their findings. Let’s find out whether RoboForex MetaTrader 4 is versatile enough — and what trading strategies are recommended by Traders Union for the platform users.
MetaTrader 4 overview
While MetaTrader 4 (MT4) may seem dated to some, it remains as popular as ever in 2022. It is still used by millions of Forex users, and you can use the platform to trade with RoboForex or just about any other broker out there. MT4 allows you to choose between different versions developed to be used with your RoboForex account on various devices.
MT4 Desktop is the most common edition of the platform. It gives you a wide variety of tools to choose from, and its user-friendly interface is another clear advantage. Just be aware that it works on Windows only, so if you want to trade on a Mac, use the web edition instead.
This mobile app enables you to participate in Forex trading anywhere you go. What’s so great about this version is that it won’t let you miss any important chances. It was specially designed to run on phones or tablets. However, MT4 Mobile retains all the features and tools of the most common desktop version.
It is another convenient version of the platform that allows you to use it on the go. All you need is a PC or laptop with a relatively stable Internet connection. This MT4 version also shares all the features of the desktop edition.
RoboForex MetaTrader 4 trading strategies
Alright, let’s move on to the main part and learn what the experts of Traders Union have been able to find about the MT4 trading options. RoboForex MT4 features several trading strategies you may employ.
Algorithmic trading is a must-have feature for all trading platforms. Basically, employing this kind of strategy means you rely on a bot (a program) to monitor market trends and even make trading decisions on your behalf. This approach helps eliminate emotions from trading, and it can be a much quicker and thus profitable way to trade — if your bot is smart enough.
RoboForex fully supports bot trading, and MetaTrader 4 remains one of the most reliable and generally suitable platforms for automated trading. MT4 enables you to create your own bots, backtest them, and then apply the resulting algorithms to actual trading procedures. It applies to operations with commodities, crypto, and other instruments.
MetaTrader 4 is completely free, and it has a remarkably user-friendly interface that provides users with a considerable number of easy-to-use tools. The platform makes building your own Forex bot as simple as possible, and if you need some help with that, there are many research and educational materials included. That makes it a perfect choice for beginners.
There is also MetaTrader Market, a marketplace for trading robots made by other developers, traders, and experts. You can find some free products there, too.
When it comes to fundamental analysis of markets, MetaTrader 4 is also incredibly useful. It’s designed to give you access to important financial news, signals, and expert forecasts right in your trading terminal. This way you can quickly change your tactics and use excellent chances to make potentially profitable decisions.
The experts from Traders Union have found MetaTrader 4 to be incredibly versatile, especially for new users. The platform supports most basic trading strategies and remains equally useful both for automated strategies and those based on analyzing the current events. These can really be recommended as a good starting point for all new traders.