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It is almost unanimous that MetaTrader 4 (MT4) is the best platform for trading Forex and CFDs. Nearly every broker offers MT4 for free, as even its successor, MetaTrader 5, has failed to reach the same heights. The biggest downside of MT4 has been that no native software has been created for Mac operating systems.
Which, for the growing number of Mac users, is incredibly frustrating. There have been workarounds, such as installing Windows on your Mac, but I cannot believe that any Mac user wants (or even tolerates) that.
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Lately, the best Forex and CFD brokers have begun offering a version of MetaTrader 4 for Mac.
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This is their own adaptation, and not a product from the MT4 developers. And so, you might be wondering whether it matches up to the Windows version.
1. Functionality is the same ...
When it comes down to it, MetaTrader 4 software for Mac does just about everything that the Windows app does. It has all the functions and analytic tools. Execution of trades is exactly the same.
The interface is the same, which makes it just as user-friendly and intuitive as the original, Windows version.
It is also straightforward to install, working as any other Mac software does. As with the Windows version, MT4 is a pleasure to use.
2. ... with a caveat
Okay, so it’s not exactly the same. The difference is apparent when it comes to automated trading. Automated trading relies on the very accurate application of scripts, an accuracy that MT4 for Mac cannot ensure.
Since it is an emulated app, Expert Advisors, custom indicators, and trading robots may not function as intended.
Look, I tend to shy away from automated trading in the first place. In my opinion, it’s quite a sloppy way to trade, and I haven’t seen many traders make a lot of money that way. However, if automated trading is for you, MT4 for Mac is not. You're better off finding a way to use a Windows computer to do your trading.
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3. It’s heavy
Finally, one of the most significant differences between the original software and MT4 for Mac is that MT4 for Mac is a much “heavier” app. While the Windows app is lightweight and fast, the Mac app is around 200MB. It’s cumbersome, and nobody - especially not Mac users - enjoys a cumbersome app.
Instead of being quick to download and a pleasure to load, it will drain your system’s resources.
Now, while this is a downside, it should not be a reason to stay away from MT4 for Mac. After all, there is no better software than MetaTrader 4, and this is the best option you have for using it on your Mac computer. All of the other workarounds have the same downside, along with many others.
Conclusion
MetaTrader 4 is known as the best Forex trading platform. Now it is available for Mac users and is mostly reliable. If you intend on using automated trading, you should try find another option, but for any other traders, MT4 for Mac is your best bet.
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MetaTrader 4 (MT4) is a trading platform designed for the purposes of trading and analysing financial markets, specifically for Forex and CFDs. MT4 provides traders with several enhanced trading tools, together with, a swift, secure, and dependable setting.
User Experience
MT4 offers an easy-to-use interface, allowing both beginner and seasoned traders to trade comfortably within an intricate, erratic market. MT4 is available to download for desktops and handheld devices.
Flexibility
MT4 enables traders the ability to trade with all currency crosses, together with, the option to trade in disparate markets for securities like futures and equities.
Expert Advisors
An extremely crucial and popular aspect of the MT4 feature portfolio, Expert Advisors provides traders with the option to automate trades through a customisable interface which is suitable for them. MT4’s success and popularity is largely attributed to its algorithmic trading.
Communication
Excellent, enhanced communication tools are another crucial aspect of MT4 that links brokers and traders, ensuring swift, instant communication.
Low Resources
In stark comparison to rival platforms, MT4 requires minimal resources in order to perform at an optimal rate, thus preventing major disruption to your PC or handheld device. Additionally, this feature allows the platform to operate much quicker, thereby enabling trade implementation and trader requests to be fulfilled instantaneously.
Security
Security is always a priority, but especially when handling Forex trading. Traders need to be secure in the knowledge that they are not susceptible to hacking or attacks. MT4 is primed with encryption software that protects the data traded between traders and the server via a 129-bit key. Moreover, IP addresses are concealed also.
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