MetaTrader 4 is an ideal Android app for the Forex trading platform
May 7, 2012 3:34 PM –
One of the most popular Forex trading platforms, MetaTrader 4, is now available on your Android phone or tablet absolutely free of charge. Trade currencies with any of 650+ servers of brokerage firms that use the MetaTrader 4 trading platform. With this application, you can control your account and trade in the financial markets.
Check out the latest MetaTrader 5 review!
Tested on: Samsung Galaxy Tab 10.1
Pros & Cons:
- You can access and participate in the MetaTrader Forex currency trading exchange on your Android device!
- If you don’t already have an account, but want to test drive the app, it is very easy to set up a demo account with full features to navigate around!
- No indicators or more complicated tools, just charts and basic information.
MetaTrader 4 is an app that connects to their currency exchange system, allowing you to access your portfolio, buy and sell currencies while on the go.
When you first load the app, you have the option of logging into an existing account or creating a demo account, which allows you to explore the options and decide if this is the app for you. I’ve used demo accounts in the past for apps like this, and I have to say, if you’re looking for a test drive, this is a great one.
Now, on to the app itself. I won’t pretend to know much about the Forex markets, or about trading in currencies, but I can say that the app is very well thought-out. I had no problems navigating around it, or figuring out, in a general way, what each of the sections was for. I even managed to trade a few currencies myself, using the demo account play money. (For the record, I immediately started losing money. I think it’s a sign not to try my hand at this with real money.)
One thing I did find though, when I started reading up on the app, is that the vast majority of users found a few features lacking, namely different indicators, the lack of any kind of news section and the inability to draw lines, only view certain basic charts. It adds up to the app itself being more for existing users who are looking for a way to make quick trades on the go, rather than as a stand-alone meant to be used for full account management.
MetaTrader New Order
For users of the MetaTrader 4 platform, this is a very useful app. It might not provide all of the tools you want, but it does give you access to your account on the go, and allow for buying and selling, so you can take advantage of opportunities even away from your computer.
Ease of Use:
I found the app, even as a non-financial person, very clean and easy to navigate – and that’s saying a lot. The interface is clean and user-friendly, and buying and selling was very simple.
This will vary by the user, but a power trader could be on this app multiple times per day while out and about. It’s a great way to check in on your portfolio and make small changes, instead of having to wait until you’re sitting down to examine the options.
As I mentioned above, the interface is very clean and well-thought-out making it easy to use and navigate. For something like this, you want to be able to get your information, trade a few currencies, then move on, so the interface simplicity works well here.