Best Forex Trading Platform for MAC - MetaTrader 4 Forex Trading Platform
Forex Trading Platforms for Mac - the Best Forex Trading Platform for MAC is the MetaTrader 4 software. This is one of the most common Forex platform that is used almost by every other trader as well as almost every online forex trading broker.
In this learn Forex Trading Platforms for Mac tutorial we shall explain the MetaTrader 4 Interface so that beginner forex traders wanting to start learning this Best Forex Trading Platform for MAC, can then start from this tutorial.
Best Forex Trading Platform for MAC - MetaTrader 4 Workspace
Form the above screenshot of the this forex trading software there are several tool bars as well as chart windows.
You can download this Best Forex Trading Platform for MAC from your broker's website. Now after you download it, then you will need to learn one or two things about this Forex platform - Forex Trading Platforms for Mac:
The first thing is how to install this Forex trading software after you download. For example if you download the MetaTrader 4 platform, you will need to go to a Forex broker first, register for a demo practice account then after you register for a demo forex account you will be provided with a link where to download the MetaTrader 4 Forex Trading Platforms for Mac.
Now once you download this Forex trading platform, assuming you do not know much about PC Desktop computers, Open your Browser >>> Go to tools on left top corner of your browser next to 'file', 'edit', 'view' click on tools, choose download folder location, (shortcut: once you open your browser click CTRL+J or CTRL+Y), a down load pop-up will appear with links to down loaded items. select the MT4 software that you have just downloaded.
Installing MetaTrader 4 - Best Forex Trading Platform for MAC
To install this software after you have downloaded, launch the download from where you downloaded, from there an installation wizard appears and all you have to do is to follow the MT4 Forex Trading Platform for Mac installation instructions. After installation the MetaTrader 4 Forex Trading Platform for Mac will run automatically just like any other forex software. Read tutorial How to install MT4 platform. This MT4 platform for Mac is easy to install and this is another reason why this forex platform is the Best Forex Trading Platform for MAC.
You can open the MT4 from the start menu>>> Programs or from the desktop shortcut that appears as a desktop icon marked MT4 after installation.
Demo Account Opening and Login
To open an account on MT4 just click on "file" and then on open an account, to login to an account just click on "file" at the top right corner and click login from the drop down menu that appears.
Once youlogin to the MT4 platform you will get access to charts and other technical analysis tools such as technical indicators that you will then use to place trades within the market while connected to your Forex broker's servers.
Forex Platform Menu Bar and Toolbars
Menu Bar on MetaTrader 4 for Navigating within the Software - Best forex trading platform
Menu bar is used to operate and navigate this Forex platform from one single panel. From this panel you can set how to view toolbars, chart, data windows and even use the file tab to open a forex trading account - and also login to your account. This menu bar makes this platform easy to operate and this is also why this is Best Forex Trading Platform for MAC for beginner traders.
Form the menu bar you can click on the view tab and select chart toolbars like in the above pictured screenshot, these menu bars can be used to set up charts, indicators, time frames, and others things like drawing forex trend lines and Fibonacci retracement levels and Fibonacci expansion levels. To learn how to customize this software navigate to this MetaTrader 4 Forex Tutorial Section.
Now that we have looked at the toolbar and menu bar, we shall look at the main workspace interface of the MT4 platform.
Best Online Forex Trading Platform - MetaTrader 4 Forex Trading Platform for MAC
Market Watch window - This window is used to show a stream of the exchange rates that is obtained from your currency broker. In this market watch window you can right click anywhere on this window to select show all currency pairs or hide the ones you are not interested in and save some bandwidth at the same time. No need to have prices for 50 currency pairs if you are only interested 4 currency pairs. This make this platform easy to use with any internet connection another reason why this is Best Forex Trading Platform for MAC.
Data Window - Used to setup Technical Indicators, Expert Advisors and scripts, you can click on any of this menu sub items and expand/collapse the indicators or Expert Advisors used for automated forex trading.
Forex Charts Panel - This is where the currency price moves will be plotted.
Forex Charts Tab - Navigation from one currency pair to another is easy, just flip through the charts tab as shown above.
Terminal Window - This window is used to display a statement of your forex trades, profits and loses that you have made in your live Forex trading account or demo Forex trading account. To enlarge this window and view open trades, just hover the mouse on terminal tool bar until the cursor pointer changes, click and hold down mouse button and then move cursor pointer upward.
Connection bars – These are used to show the connection to the internet, red bars mean no internet connection, green bars explain there is internet connection.
Exchange Rates Graph - this shows the exchange rates for the currency pairs that you're trading so that to display if the exchange rate is going upward or downward.
Advantages of MetaTrader 4 - Why MT4 is The Best Forex Trading Platform for MAC
In the online forex market there are many Forex trading softwares available around the internet. But among the top Forex trading platforms the Best Trading Platform for MAC is the MetaTrader 4 Software, it is the best Forex software because of the following reasons:
Low Bandwidth Connection Requirement
Not everyone can afford the best internet connection, the T1, the satellite, ADSL or Fiber Optic internet connection; furthermore, these are not freely available to some residential areas and may be limited to office buildings. This is why it is best to choose a Forex platform that requires the minimum bandwidth, the MetaTrader 4 platform. Even with the best connection, sometimes the connection may not be available & you might need to use an alternative connection like the dial up or modem. MT4 platform is the least expensive if you are on a modem. To even reduce further the internet bandwidth usage go to market watch (Shortcut press CTRL+M), Right Click on any currency, Select "Hide all", now the platform will only stream the currencies quotes for the pairs you only need and conserve your internet bandwidth even further. Especially when using a mobile phone or i Pad or a Tablet where you are paying for phone credit doing this can save your internet credit. This is one of the reason why the MT4 is considered as one of the Best Forex Trading Platform for MACs online.
The easier it is to connect the easier it is open and close trades on time.
Provided by all Forex Brokers
Another reason why this Forex trading software is considered as one of the Best Trading Platform for MAC is because MT4 is liked by most traders all brokers provide it. Once as an investor learns the MetaTrader 4 platform there is no need to re-learn when you switch to another Forex trading broker. You can still use the same MetaTrader 4 software of the new Forex broker without the need to learn a new forex trading platform all over again.
Easy Technical Analysis
The other thing that makes this the Best Forex Trading Platform for MAC is the ease with which you can set up the technical analysis indicators on the currency charts. Even those using various web traders will do their technical analysis on the MetaTrader 4 chart and then place their orders on their web trader.
Technical analysis traders can also install custom indicators on this forex trading software, making it easier to add more technical analysis tools onto this software. Others also install automated Expert Advisors on this forex trading platform so as to trade automatically with these programs known as automated EA Forex Robots.
Best Forex Charts
The MT4 has the Best Forex Trading Platform for MAC charts representations available and implements many chart time frames from which an investor can choose.
Simplicity
Overall the simplicity of this software and the fact that any investor can learn how to use MT4 within one hour makes this the Best Forex Trading Platform for MAC for new and experienced currency traders.
