FX trade is incredibly popular in Japan and a considerable trade volume on the global Forex market can be attributed to Japanese traders.
USD/JPY is even one of the most actively traded currencies in the world. With a strongly developed economy and a robust financial system, FX -trade has been popular in the country for decades.
However, it is essential to acknowledge that Forex -trading entails inherent risks. The Forex market can be very volatile and traders can experience considerable losses without good risk management. Despite these risks, many traders actively continue to participate in Forex trade, where platforms such as Metatrader 4 (MT4) are used. Even while trading platforms continued to evolve and MT5 and Ctrader were released to the public, the use of the elder Metatrader 4which was released in 2005, was not reduced at the expected rate.
In fact, many Forex traders and brokerage companies still use MT4 as their primary forex trading software, despite the advanced depth of market functions and multi-asset support offered by Metatrader 5.
To understand why so many traders still prefer MT4 to this day, we must view the characteristics of MT4 and what benefits adhere to the software for modern traders and brokers.
Large characteristics of Metatrader 4
As we have already established, MetaTrader 4 is one of the most popular Forex trading platforms in the world, with millions of simultaneous users and a loyal user base.
MT4 was developed and published by Metaquotes in 2005 and has since become a support pillar between Forex and CFD Traders worldwide.
A second interpretation of the platform, Metatrader 5, was released to the public in 2010, but did not clarify MT4, which still remains the top choice to this day.
Below we can look at various important functions of MeatTrader 4 and why they have become so popular.
Simple and user -friendly interface
The interface offered by Metatrader 4 is simplistic and easy to process for every modern trade desk, which is characteristic of older platforms released in the early 2000s.
Finding the required technical indicators and functions of the platform is fairly simple and does not require much effort, which ensures a more user -friendly experience in general.
In addition, experienced Forex traders in Japan prefer the Legacy platform that they are used to, because it does not require that they get acquainted with a completely new platform that may not offer much in terms of new functions and technical tools to influence their returns.
Advanced tools and technical analysis aids
MT4 users have access to dozens of technical analysis tools and indicators that they can turn off on a price card to generate overbough and over solder, and buy and sell signals for their strategies.
The incomplete list of indicators includes:
- Exponential advanced averages (EMAs)
- The relative strengths index (RSI)
- Bollinger -Bands
- Retailing average Convergence -Divergence (MACD)
- Fibonacci Retracements
These technical indicators are the core characteristics of the trade experience using MT4 and can be used completely free of charge.
As an alternative, traders can code their own adapted indicators, using progressive averages of different periods than usual with the above -mentioned indicators.
Expert advisers and backtesting
MT4 also gives traders automated and algorithmic trade options with the help of the Function Expert Advisors, who can also be used to back -test existing strategies to see how they would have carried out during previous market conditions.
MT4 uses the MQL4 Programming language, with which traders can make their own adapted bots and they can implement in algorithmic trade strategies.
Multi-device compatibility
Metatrader 4 is available as a web -based platform, as well as iOS and Android, making it accessible to various demography of traders in Japan, making them easy to access their trade accounts along the way.
The mobile MT4 platform is not a compromise on the essential functions that Metatrader 4 has made the most popular Forex trading software in Japan and beyond.
Broad broker support
MT4 uses hundreds of Forex grant companies around the world as their primary trading platform, despite the existence of Metatrader 5 and Ctrader, which are newer and offer more advanced functions.
Due to the popularity of Forex Trading in Japan, experienced Forex traders prefer the simplistic design and the convenience of access by Metatrader 4.
Regarding beginners traders, the broad acceptance of MT4 among Makelaars offers a basic line that she introduces in various technical functions, strategies, backtesting options and more, whatever the demand for switching platforms for beginners reduces.
Conclusion
Although newer Forex trading platforms, such as Metatrader 5 and Ctrader, are both available to Japanese traders, the simplicity and long-term experience of Metatrader 4 has led the trader base to stay with the older display of the software.
What further strengthens this choice is the broad support for MT4, which is also the most popular trading platform for brokerage companies. That is why traders prefer the already known interface, layout and characteristics of Metatrader 4, which is also less stressful on their computers, thanks to the simplistic design and low graphic reliability.
