For those of you that enjoy keeping up-to-date and trading in the financial markets, then the MetaTrader 4 app from MetaQuotes is an absolute must have for your Apple iPad, and we are about to tell you just why you should have this app installed and ready to use.
The software has been designed specifically for both iPhone and iPad so you can access your account and the financial markets on the move. In this review, we want to focus our attention on the iPad version because the screen size of an iPad really does give you the most out of this app. The larger display allows you to view more charts, and you can benefit from that one-click trading feature which we will tap into a little later on.
So we come to the initial thoughts of MetaTrader 4, and before we go into detail on the first impressions, we need to install the app. The app is available in the Apple store and weighs in at just under 8MB and comes with no charge.
Once you have installed the app you will need to register an account so we can start using the program and gain access to all of its features. If you do not want to register just yet, then you can use the demo account that MetaQuotes provide, and this will give you a chance to get a feel for the program.
The first thing we will see is that the screen is split into a few different sections, on the left you can view the different quotes, trading and history. This data is then shown in the centre of the screen where you should see a graph.
The great thing about the graphs section is that you can switch between the types of charts you want to see the data in, so you can see the data in a format you are happy with. The default style is candlesticks, but you can choose bar charts or line charts by simply tapping the crosshair symbol on the left (this is highlighted in blue below).
For a closer look at the graphs, simply use the pinch and zoom action on the screen, which will show you more detailed information in a certain timeframe. You will see from the example below that the timeframe has been reduced down to a single day so we can measure performance down to every 2 hours.
If you want to start trading then you will first need to tap on the two-arrow symbol on the left hand-side of the screen. This will now pull back current trading statistics in simple mode, however if you want to see the low’s and high’s then pressing the Advanced tab will give you this data.
On the right side of the screen (see pic below), you can see the graphs that we talked about earlier which will show you a custom date range of currency performance. We have zoomed back out here to display a wider scope that measures a 5-day period.
To trade simply select the currency exchange of your choice from the list on the left (we have selected GBP to USD in this example), and then you can chose to sell or buy using the red or blue buttons on the left.
Useful Features for iPad users
If you know what you are doing then you can chose to turn on the one click trading mode, but be aware that this is a one-step process so don’t expect any confirmation prompts when buying or selling. It is worth reading through the disclaimer before you accept and activate this feature.