Trading forex requires a trader to use a trading platform. If you are just learning how to trade forex, you also need to know that you should have a reliable trading platform. The kind of platform that you choose needs to be compatible with your device.
Currently, MetaTrader4 (MT4) is the most common trading platform. It is common because of its ease of use and that it can accept top operating systems. So, whether you are using your PC, iOS device, or Android device, you are sorted with the MT4 trading platform.
Trading with MetaTrader on PC
From the onset, using a PC is ideal for any trader who wants to trade forex. The size of your computer screen is a key benefit for trading using a PC. This is the top reason why many traders prefer to use PC when trading on an MT4 trading platform.
You are less likely to make mistakes when using a computer because you can see everything laid out bare on the charts. With clear charts, you are likely to make informed decisions.
Another reason why many traders prefer using PC is that they have self-developed trading indicators that are unavailable on mobile devices. Installing an Expert Advisor pane on mobile phones would weigh down the phone because the bots are so system intensive.
Trading with MetaTrader4 on Phone (iOS, Android, and Tablet)
Another option of trading with the MT4 platform is using a phone or tablet. All you need is a MetaTrader4 download on your device. Ensure that the operating system is compatible for you to use the trading platform.
The good thing is that the MT4 trading platform is compatible with both the iOS and Android operating systems. Higher versions of the operating systems will always work better when trading on the MT4 platform.
The key benefit of trading using mobile devices is portability. The fact that the devices are portable and you can walk with them everywhere allows you to trade conveniently at any time. You don’t have to be at home or at your workplace to start trading forex.
Another reason for trading using your mobile phone is that the MT4 application meant for phones is not data intensive. The mobile apps are lightweight and use less data. However, you have to stick to the MT4 trading platform and not the MT5, which uses more data.
Another key benefit of using mobile devices is that they are simple and easy to use. You don’t encounter lots of technical terms as you would while using a PC. Just remember that the simplicity is because the Expert Advisors have been disallowed.
Final recommendations
When you are a beginner, it is always smart to start trading with MT4 on a PC. It will give you an overview of the market moves that you need to understand when trading. However, if you are competent enough and have gathered enough knowledge, you can trade on the go with an iOS or Android mobile device.
