Modern technologies have greatly facilitated trading. Its main tool now is special software that provides interactive access to current quotes and makes it possible to carry out purchase/sale transactions. It contains everything you need, starting from indicators with oscillators and ending with round-the-clock investment monitoring. Such applications are called terminals or Forex trading platforms. The terminals are easy to use; you can download MT4 for trading in Nigeria on the broker website, as well as they are free of charge.
What are Trading Platforms
Before you start working, you need to install those platforms. They are installed not only on a PC but also on different mobile devices (smartphones, tablets, etc.) which are always near you. In each case, you must download the appropriate version. The program provides real-time monitoring of asset prices, both in Nigeria and in any country of the world.
The list of commodities depends on the broker but is usually represented not only by currency but also by oil, gold, silver, securities, futures, etc. Charts are used to better understand the situation. They are available in several forms; some terminals make it possible to add new ones.
To find entry and exit points, technical tools and indicators are used. Their list is quite wide, they contain the most popular ones, but it is also possible to install additional reserves. The news line reports on all important events: social, political, economic ones. It takes data from major news agencies having sometimes useful analytical reviews of currency exchange and expert forecasts.
Any such program reliably protects the funds in the account, giving their owner access to them at any time. If desired, the trader can always withdraw part of the capital or replenish the deposit. When opening an order, the trader receives all the necessary statistics on it: the size of losses and profits, the amount of available funds, rates, margin level.
List of Platforms
In recent years, the currency market has gained unprecedented popularity. In this regard, numerous terminals have been created and it is quite difficult to make a competent choice between them. When getting down to work, it is suggested to trust the opinion of experienced traders and pay attention to the most popular ones. In this case, the list of Forex platforms will consist of the following most famous programs. MetaTrader is the ultimate leader in this area.
It is distinguished by ease of use, an extensive selection of popular instruments, the presence of all types of orders and main charts for Forex signals. Installing it, you have the opportunity to earn on different assets (from currency to stocks) almost in all markets (Forex, Stock, etc.) and from one account. The functionality contains broad analytical capabilities convenient for professionals, while tooltips will greatly help newcomers. To date, two versions have been released — the 4th and 5th. There are no serious differences between them.
The entire trading process in the Forex market is carried out through the trading terminal. In fact, a trading terminal is software that reflects information about the state of the market online, while it contains various assistance functions, including analysis building.To date, developers have created several interesting trading terminals; however, not all Forex trading platforms are equally popular.
MT4 and 5 (MetaTrader) Trading Platform
This platform is the most popular and downloaded program. It is available for free and supports demo trading, which is an undeniable pro for a beginner. Among the other advantages of the terminal, it is possible to note the ability to work with several dialogue boxes at the same time, since the transition between them does not take time; just one click is enough. Moreover, developers want to implement trading with one account in different markets. The interface is easy to understand, making it possible for beginners to get used to the trading process very quickly.