LMFX is certainly a well-known Forex trading platform, thanks to the easy to access tools and user-friendly platforms. And if you are one of the lucky traders there, you may already know that the MT4 or MetaTrader 4 trading platform is available both on mobile and online to the traders at LMFX. Again, if you have been in the trading world for long, you already know about it and its benefits. But if you are from the minority of the people who are dedicated to Forex trading but don’t know anything about MetaTrader 4, it is high time you did.
What is MetaTrader 4?
MT4 or MetaTrader 4 is actually an electronic platform for trading, which is mostly used by the online retail Forex speculative traders. MT4 was developed and scripted by MetaQuotes Software Company and then released around 2005. This software is only licensed to the Forex brokers for proving the software to their respective clients.
This software consists of 2 components. A server component and a client component. The server part is run by the brokers, while the client component is given to their clients or customers.
Why is it important?
A Forex Broker like LMFX offers it to their clients so that they can easily observe and stay up-to-date with the live prices, charts, and graphs, to place their order and to efficiently manage their own accounts.
Any trader can use this if provided by their broker like LMFX does for its clients. Although it is currently a Windows-based software, many brokers have provided their customers a variant specifically designed for Mac OS.
This software gained its popularity because of its ability for the end users to create and write their own trading script and a robot that could eventually automate trading.
In the year 2010, the software company MetaQuotes released their new version of the MT5 which is just the update to the version of MetaTrader 4. However, the update wasn’t taken so delightfully. It was found that MetaTrader 5 is slower than its predecessor MetaTrader 4, which is why the brokers stuck with the old one.
Although it might seem like all MetaTrader versions were well received except MetaTrader 5, the history says otherwise. Like its successor, MetaTrader 4 and the previous versions were also not appreciated properly because of MetaQuotes unsatisfying attempt to develop the previous versions. Since MetaTrader’s idea came to their minds in 2002, MetaQuotes has released quite a handful of versions. But it wasn’t until 2005 when MetaTrader 4 came out and threw out the expectations made from its predecessors.
Between the year 2007 & 2010, a big number of brokers added the MetaTrader 4 platform as an alternative to their own trading software and LMFX was one of those brokers. They didn’t need to add this to their platform, but back then, 3rd scripts were becoming more popular day by day. So, they didn’t miss the chance to engage their clients with up-to-date software and updates.
The guys from LMFX thought that it was a great opportunity for them to engage their customers with the MT4 platform for both mobile and online and they did so quite efficiently.
For more info, please visit: LMFX Broker Review
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