Forex Mt4 To Retire Discontinue In 2020

Forex traders who have been using MetaTrader 4 (MT4) for their trading activities may find themselves looking for a new platform in the near future. That’s because the MT4 platform is going to be retired by MetaQuotes, the company that developed it. The discontinuation of the MT4 platform is set to happen in 2020, leaving traders with a limited time to find and transition to a new platform.

What is MetaTrader 4?

MetaTrader 4, also known as MT4, is a popular trading platform used by forex traders worldwide. It’s known for its user-friendly interface, advanced charting tools, and the ability to use automated trading. It has been around since 2005 and has become a staple platform in the forex trading industry.

Why is MetaTrader 4 being discontinued?

MetaQuotes, the company behind MetaTrader 4, is discontinuing the platform because it has developed a newer version, MetaTrader 5 (MT5), which offers more advanced features and improved functionality. The company wants to focus on the development and improvement of MT5, making it the go-to trading platform for forex traders.

What are the differences between MT4 and MT5?

MT5 offers several key improvements over MT4. These include:- More advanced charting tools- Improved order execution speed- Additional technical indicators and analytical tools- The ability to trade stocks and futures in addition to forex- Support for hedging (a feature not available in MT4)- Improved back-testing capabilities for automated trading strategies

What should MT4 users do in response to the discontinuation?

MT4 users should start looking for a new trading platform to use before the discontinuation of MT4 takes effect. They should consider transitioning to MT5 or exploring other trading platforms that suit their needs. It’s important to note that some brokers may not offer MT5 or may charge additional fees for using it, so traders should do their research before making a decision.

How can traders transition from MT4 to a new platform?

Traders can transition from MT4 to a new platform by following these steps:- Research and compare different trading platforms to find one that suits their needs.- Open an account with a broker that offers the new platform.- Transfer funds from their MT4 account to their new account.- Familiarize themselves with the new platform and its tools.- Begin trading on the new platform.

What can traders expect from the transition to a new platform?

Traders may experience a learning curve when transitioning to a new platform, as each platform has its own user interface and features. However, they can expect to benefit from newer, more advanced tools and features that can help them make better trading decisions.

What are some popular trading platforms to consider?

Some popular trading platforms to consider include:- MetaTrader 5- cTrader- NinjaTrader- TradingView- ProRealTime

Conclusion

The discontinuation of MetaTrader 4 means that forex traders will need to start looking for a new trading platform. While it may be challenging to transition to a new platform, traders can benefit from newer, more advanced tools and features. It’s important to research and compare different trading platforms before making a decision on which one to use.

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FAQ:Q: When will MetaTrader 4 be discontinued?A: MetaTrader 4 is set to be discontinued in 2020.Q: Why is MetaTrader 4 being discontinued?A: MetaQuotes, the company behind MetaTrader 4, is discontinuing the platform because it has developed a newer version, MetaTrader 5 (MT5), which offers more advanced features and improved functionality.Q: What are the differences between MT4 and MT5?A: MT5 offers several key improvements over MT4, including more advanced charting tools, improved order execution speed, additional technical indicators and analytical tools, the ability to trade stocks and futures in addition to forex, support for hedging (a feature not available in MT4), and improved back-testing capabilities for automated trading strategies.Q: What should MT4 users do in response to the discontinuation?A: MT4 users should start looking for a new trading platform to use before the discontinuation of MT4 takes effect. They should consider transitioning to MT5 or exploring other trading platforms that suit their needs.Q: How can traders transition from MT4 to a new platform?A: Traders can transition from MT4 to a new platform by researching and comparing different trading platforms, opening an account with a broker that offers the new platform, transferring funds from their MT4 account to their new account, familiarizing themselves with the new platform’s tools, and beginning trading on the new platform.Q: What are some popular trading platforms to consider?A: Some popular trading platforms to consider include MetaTrader 5, cTrader, NinjaTrader, TradingView, and ProRealTime.