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MetaTrader 4

The Successful Duo – Metatrader 4 and CoreSpreads

As well as offering their own CoreTrader2 account, Core Spreads also provide access to the ever-popular, industry-favourite MetaTrader4 account.

MetaTrader 4 is perhaps the most famous online trading platform designed to provide brokerage services to retail customers in Forex, CFD and Futures markets. It was developed by MetaQuotes Software – a Russian company registered in Cyprus – and first released in July 2005. Among the main features of the platform are the following:

  • Market Watch window, which lists the available instruments for trading, bid/ask prices for each of them and the exact time (usually the UTC time zone is used)
  • Navigator window, where traders can see their account(s) as well as a large selection of indicators, EAs (expert advisors) and scripts
  • Terminal, which has several tabs: Trade, Exposure, Account History, News, Alerts, Mailbox, Market, Code Base, Experts, Journal. Traders can click each one of them in order to become familiar with the particular type of information they contain. The “Trade” tab, for example, is the place where open orders and trades can be viewed, including the symbol, trade entry price, stop loss levels, take profit levels, closing price and profit or loss. The “Account History” tab, on the other hand, lists all of the activity that has occurred, including closed orders, over a selected time period.
  • Charts come in three different flavours: line, bars or candlesticks. They are highly customizable – from the colours for each variable, like background, foreground, grid and bars to zoom in/out feature and multiple periodicity options (starting with the 1minute timeframe and going up to the monthly one). Furthermore, a variety of technical analysis indicators can be added to any price chart.
  • Order window, where positions can be opened – either through instant execution or via pending orders – or closed and stop loss and take profit levels can be entered
  • Expert Advisors (EAs) which can be used to implement strategies and automate trading. They are very popular particularly with traders that have programming skills.

The fact that by now hundreds of brokerage companies have chosen Metatrader 4 is the best testimony that it delivers outstanding value and meets both their and traders’ expectations.

With all the above in mind, it’s easy to understand why CoreSpreads decided to concentrate on MT4 as part of its rebranding efforts. Core Spreads is an independent, low-cost financial spread betting and CFD broker that launched in September 2014 and is owned and operated by Finsa Europe Ltd – a company that is authorised and regulated by the Financial Conduct Authority (reference number 525164). CoreSpreads also have a license in Australia and are regulated by ASIC there (operated by Finsa Pty Limited).

As far as I can tell, the choice of trading instruments available through CoreSpreads is quite impressive: 27 FX pairs, 12 leading global indices and 4 commodities (Brent Oil, Gold and Silver amongst others). The advertised spreads for each category of products are also very competitive, for example 0.5 pips on EUR/USD, 1.2 pips on GBP/USD or 1.8 pips on GBP/JPY while some indices like UK 100 or DAX30 come with spreads of 1 point.

Financial spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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