What is MetaTrader?
When people first get into forex trading, many look for help. Some try to learn all they can about foreign currency exchange markets. Others look to managed accounts and help from experts. However, there is another option aside from these: MetaTrader.
MetaTrader is an electronic trading platform that is commonly used for trading of foreign currency exchanges. It is ideal for forex. It first came out in 2005. It is first licensed to foreign exchange brokers, who then pass the software on to their clients. The software has a component tailored to the clients, but it also has a server component as well.
On the client side, the client can use MetaTrader to see live, streaming prices and charts. The client can also use the software to manage their forex account and place orders. The server side is run by the broker.
MetaTrader has become popular in forex trading. A lot of this is probably due to how easy the software makes trading. In MetaTrader, clients can write their own trading scripts that will run automatically without the client having to touch another button. While the original version of MetaTrader has been popular, there was an update to the software released in 2010 that also got picked up by traders and brokers in forex.
In addition to the ability to write scripts, MetaTrader also has a free library of software, articles and help contributed by users. For many brokers, MetaTrader is a standalone solution to their forex software needs.