Meta Trader Out Look: The MetaQuotes Software is a Russian software company that specializes in the development of software for foreign exchange trading. MetaQuotes main product is the MetaTrader family of online trading platforms are MetaTrader 4 and MetaTrader 5. The MetaTrader 4, also known as MT4, is an electronic trading platform widely used by online retail foreign exchange speculative traders. The software is licensed to foreign exchange brokers who provide the software to their clients. The software consists of both a client and server component. The server component is run by the broker and the client software is provided to the broker’s customers, who use it to see live streaming prices and charts, to place orders, and to manage their accounts.
History of Meta Trader:
Meta Trader first version MT4 (Meta Trader 4) was developed by MetaQuotes Software and released in 2005. Its developer, MetaQuotes Software, had previously released a number of versions of the MetaTrader platform starting in 2002. MetaTrader 4 was a significantly enhanced version and was released in 2005.The Meta Trader 5 (MT5) MetaQuotes released on 2010. However, uptake was slow and as of April 2013 most brokers still used MT4.
MetaQuotes Software Corporation was established in 2000 in Russia with the launch of FX Charts, an online charting package used for margin FX trading. It became popular with traders as it could be run on a Windows PC and did not require dedicated and expensive equipment. This was followed by a number of different versions, starting in 2001 when the trading was added and the product renamed as MetaQuotes. Version 3 was released in 2002.
MetaQuotes Company developed a software in 2005 TeamWox, a CRM system started for the company internal use. In 2009, the first public commercial version of TeamWox was released and went on to win various industry awards
The Foreign Exchange markets more popularized key reason behind Meta Trader Software as its easy to place an order. MetaTrader played major roles in Forex Evolution. Between 2007 and 2010, a number of brokerages added the MT4 platform as an optional alternative to their existing trading software due to its popularity with traders and the large number of third party scripts and advisors. MetaTrader’s popularity largely stems from its support of algorithmic trading.
The client terminal includes a built-in editor and compiler with access to a user contributed free library of software, articles and help. The software utilizes a proprietary scripting language, MQL4/MQL5 which enables traders to develop Expert Advisors, custom indicators and scripts. MetaTrader provide two types of trading orders, Pending Orders and Market Orders. Pending orders will be executed only when the price reaches a predefined level, whereas Market orders can be executed in one of the four modes: Instant execution, Request execution, Market execution, and Exchange execution.