why use mt4?

I see that almost everybody here are using MT4 for trading/codding etc.
Why?

I haven't decided what broker to choose, and after some brief platform overviews and speaking to users on this forum I can tell, that I'm not very excited about MT4. IMHO there is a lot of much more user friendly trading platforms.

But I'm very interested in Automatic dealing, so maybe someone can make me sure MT4 is the best or advice alternative?

TIA

MT5 is about to be released........ with many revisions...... perhaps you have to research it as well as any others you choose

I’ve never used it, I trade with acm and will add mt4 on July…

Thanks
but i am waitting for answer yet...)

You and me both, buddy. I could never understood why traders perfer MT over the vast list of platforms available, but then I realised the words, "EA-Expert Advisor" came to my attention. A lot of traders like the idea of a automated trading strategy or system ... over manual trading. I personally dont and cant stand MT4. Though I'm very much interested in trying MT5, which soon should be available (rumor only).

My preferred platforms are DealBook360 (GFT), Metastock (Reuters), & NinjaTrader.

Metatrader serves a lot of purposes..... one of them being that you can have several copies running at once as it uses little memory.

Backtesting is relatively simple

good selection of instruments and indexes

It comes down to the sheer number or EA's, programmers, indicators, ease of use, ease of programming, size of community, etc. - Its the big boy on the block just in sheer numbers of users. documentation is all over the web, discussion groups and its possible to buy/program profitable EA's. - 2nd choice is Ninja Trader but its a pretty distant second (but VERY nice auto-trading platform)

I don't know many friendlier platforms, and even if so, it comes instead of flexibility and important features.

I am using MT4 for 3 years now, wouldn't trade on any other (and I've tried several).

MT4 provides: comprehensive user-friendly charting, full-fledged programming language, strategy tester, historical data, live data feed, alerts, news facilities, trading platform, demo accounts, EA-based trading...... all for FREE. You can experiment for as long as you like, and it won't cost you a cent.

As has been pointed out, there are a vast number of third-party MQL4 indicators and EAs out there. Just plug and play.

It is very memory efficient, and (by storing price history on your hard drive) keeps internet upload/download down to a minimum.

There are at least a hundred brokers that use MT4 (e.g. see here), so if you ever need to switch brokers, finding another one - and without having to learn another platform - is easy.

Sounds like a sales pitch? LOL. I didn't intend it to be, but I guess those are some of the reasons MT4 is so widely used.

thanks to everyone! so as i understand you think that there is just one alternative (ninjatrader)?

If something happened to MT4 right now I will move to NinjaTrader without a doubt, they are very professional. MT5 was a total failure, they have done a better step trying to implement some new characteristics to MT4.

The best thing they could do, will be enhancing MT4 more. Like with a better backtesting, and other cool stuff. Dont try to reinvent the wheel!

Greetings

BeLikewater

if mt4 goes where will all the basket traders go?