Download MetaTrader 4

It's no secret that to successfully trade binary options, traders use additional trading terminals such as MetaTrader, QUIK, TraderStar, NetTradeX, and CQG. We recommend using the MetaTrader 4 terminal. In our opinion, MT4 is the simplest and most convenient platform for both beginners and experienced traders, and it remains one of the most popular terminals in the trading community.

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Contents:

• What Can You Use the MetaTrader 4 Terminal For?
• What Operating Systems Does the MetaTrader 4 Terminal Run On?
• MetaTrader 4 Terminal Functionality
• Trading through the MetaTrader 4 Terminal
• Technical and Graphical Analysis in the MetaTrader 4 Terminal
• Advisors and Robots in the MetaTrader 4 Terminal
• Testing Strategies and Indicators in the MetaTrader 4 Terminal
• Visual Setup of Charts in the MetaTrader 4 Terminal
• Training in the MetaTrader 4 Terminal
• What Other Features Does the MetaTrader 4 Terminal Provide?
• Conclusion

What Can You Use the MetaTrader 4 Terminal For?

The MT4 terminal was originally designed for trading in the Forex, CFD and Futures markets. When trading binary options, you will primarily need its real-time quotes and built-in indicators. The platform also contains full price history for all assets on which options can be purchased. MT4 is ideal for identifying option entry points, and a well-chosen set of indicators can help you build your own binary options trading system.

On our website you will find a wide selection of accurate indicators and strategies specifically designed for the MetaTrader 4 terminal.

What Operating Systems Does the MetaTrader 4 Terminal Run On?

The MetaTrader 4 terminal can be installed on a PC running Windows, Mac OS (instructions) or Linux, as well as on smartphones running Android and iOS. You can download the free MT4 terminal both at the end of this article and from the official website metatrader4.com.

It is worth noting that using MetaTrader 4 on Android or iOS is limited to tracking quotes with standard built-in indicators, since custom and third-party indicators are not supported in the mobile version. That said, if your trading strategy relies on standard indicators, a smartphone or tablet can be a very convenient tool — all you need is an internet connection.

Note: MetaTrader 4 for Windows and Mac OS gives you access to the terminal's full functionality.

MetaTrader 4 Terminal Functionality

This terminal can be used for a wide variety of purposes and offers extensive functionality. Brokers provide the ability to execute trades using MetaTrader 4 on the Forex market, but the platform can also be used to great advantage when trading binary options.

Below, we cover how to use the MetaTrader 4 terminal correctly and what features it offers. At the end of the article, you can download the MetaTrader 4 terminal for free.

Trading through the MetaTrader 4 Terminal

It is also possible to trade binary options directly within the MetaTrader 4 terminal. This option is currently offered by brokers GC Option and World Forex. Other binary options brokers use their own proprietary terminals for trading.

As for Forex brokers, virtually all of them offer the MT4 terminal for trading, as it is a universal and highly convenient platform that supports trading in currency pairs as well as many other instruments, including cryptocurrencies.

You can open trades in the MetaTrader 4 terminal using both pending orders and market orders. The platform also allows you to set a stop loss, take profit, or trailing stop.

Technical and Graphical Analysis in the MetaTrader 4 Terminal

The MetaTrader 4 terminal is widely regarded as one of the most convenient platforms for graphical and technical analysis, offering a broad range of tools, including:

• Trend lines of all kinds.
• Various types of channels.
• Gann instruments.
• Fibonacci tools.
• Chart patterns.
• Icons.
• Text notes.

In addition, the terminal includes a variety of built-in indicators that have stood the test of time and are widely recognized as industry standards. These indicators fall into the following categories:

• Trend indicators.
• Oscillators.
• Volume (tick) indicators.
• Bill Williams indicators.

You can also download additional indicators for MetaTrader 4, as well as advisors and strategies, both from our website and other trading resources.

Instructions for installing indicators in MetaTrader 4:

Advisors and Robots in the MetaTrader 4 Terminal

Robots and advisors in MetaTrader 4 help automate the trading process, which saves time and eliminates the emotional factor from trading. This approach also makes it possible to automate complex strategies or trading systems that would be difficult to monitor manually.

All advisors and scripts for the MT4 terminal are created using a dedicated programming language — MQL4:

Testing Strategies and Indicators in the MetaTrader 4 Terminal

Any standard or custom indicator or advisor can be backtested using the MetaTrader 4 strategy tester, which makes it possible to evaluate their effectiveness and overall performance:

When backtesting an advisor (an automated strategy or trading system), you receive comprehensive trading statistics:

The report shows maximum account drawdown, the most profitable and unprofitable trades, and much more.

Visual Setup of Charts in the MetaTrader 4 Terminal

Charts can be customized to suit your preferences, with almost every visual element adjustable:

Any custom settings can be saved as a template and applied at any time, eliminating the need to reconfigure each new chart from scratch. The terminal also includes a set of standard color scheme templates ready to use out of the box.

You can also save or print screenshots of any chart and share them on social networks, forums, or your own website or blog.

Training in the MetaTrader 4 Terminal

If you want to practice trading in MetaTrader 4, you can easily open a demo account with any amount of virtual funds. This allows you to execute trades and get a thorough feel for how the terminal works before going live.

What Other Features Does the MetaTrader 4 Terminal Provide?

Beyond everything covered above, the terminal also lets you:

• View your full trading statistics.
• Receive news and updates from your broker.
• Set price alerts.
• Use the built-in marketplace to purchase indicators and other tools.
• Browse paid signal statistics and subscribe to signals.
• Read articles about trading.

Conclusion

The MetaTrader 4 terminal gives any trader the opportunity not only to sharpen their trading skills, but also to apply them directly to binary options trading. This can significantly increase trading efficiency and profitability — the extensive set of tools allows you to customize charts to your liking, build your own trading system, and test it both in the strategy tester and on a demo account.

Download the MetaTrader 4 Trading Terminal

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See Also:

• How to make money on binary options
• The best arrow indicators for binary options
• Autochartist Technical Analysis Indicator for MT4
• Reversal Indicators for MT4