Let us take a look at why Metatrader 4 is the best CFD or spot trading software for beginners, available free of cost.

Financial trading is performed online via an electronic trading platform. The trading software industry is dominated by MetaQuotes Corp, which started in 2000 coinciding with the advent of online retail forex trading. MetaTrader 4 (MT4), which is the most popular software used by traders in the retail Forex or CFD market. Even though there are a few other options, MetaTrader 4 remains a hot favourite for beginner and intermediate traders.

MetaTrader 4

Typical tasks of any broker, such as account management, processing of trades and transmitting quotes, are executed in MetaTrader 4 with high efficiency. In addition, the public interfaces (API) allow the platform to provide backup and data recovery functions and a powerful security system.

MetaTrader 4 includes all elements needed to perform brokerage services. Trade servers, access points, manager terminals, various gateways and data feeds — all the elements are provided in MetaTrader 4 back office.

MetaTrader 4 is a platform, which was specifically designed for FX trading in 2000 but has evolved into a software embracing more than 3000 multi asset trading instruments offered as CFDs .

MT4 is a reliable trading platform that provides traders with features like:

• 1-click trading

• Expert Advisors or auto trading trading. Also called algo trading or robot trading.

• Technical analysis indicators

• Different Order Types including Pending orders and Limit orders

• Multi charting

• Nine different time-frames

• News Feed

• convenient mobile facility

• efficient algorithmic trading

MT4 software applications are available for nearly any type of operating system, including iOS, Android, and Windows.

Disadvantages

The platform can be tweaked by plug-ins developed by unscrupulous brokers who are not regulated in well known jurisdictions.

So traders have to be very careful in choosing brokers to work with. Should avoid all brokers who are not regulated or are operating in new countries or who have no reputation or scheme for safety of investors' funds. Regulators' main job is to provide safety of funds and manipulation of prices.

Rogue brokers indulge in malpractices like increasing spreads arbitrarily even when market is not so volatile, particularly before the regular breaks for pre-trading hours, lunch hours or after-trading hours