HFM MT4 is a forex trading platform trusted and chosen by many investors. So what is HFM MT4? What is the difference between HFM Markets MT4 and MT5 trading platforms? What are the special features and what should you keep in mind when trading on the MT4 platform? Let’s Learn Forex Trading yourself in the article below.
Overview of HFM forex? Find out what is HFM MT4.
Before learning more about HFM MT4, first, you need to have a brief understanding of HFM forex as well as the concept of HFM’s MT4 trading platform.
What is HFM? Some information about HFM exchanges
HFM was formerly the foreign exchange exchange HotForex. HFM Forex was established in 2010 in Cyprus. Currently, HFM is a trading exchange under HF Markets Group, providing investors with about 17 different trading tools with more than 150 financial products. Including Stocks, bonds, cryptocurrencies, energy, metals, indices…
The exchange is licensed by many reputable organizations such as FCA, FSC, and CySEC. After more than 10 years of establishment and development, up to now, the HFM trading exchange is a trusted address for many investors around the world. The exchange has more than 2 million opened accounts.
See more: Latest HFM login instructions
What is HFM MT4? Differences between HFM MT4 and HFM MT5
MT4 is the acronym for Meta Trader 4. This is an online trading platform used by investors to trade in the forex market. Besides, thanks to this platform, traders can also use tools and indicators to analyze the market as well as receive advice from experts to have the most accurate view of future trends.
In addition to the MT4 trading platform, investors on the exchange can also use another platform, MT5. So what’s the difference between these two trading platforms?
Platform interface of HFM MT4 and MT5
The first difference between MT4 and MT5 is the platform interface. The interface layout of the MT4 platform includes Market Watch, Navigator, Trading, and Charts. The interface layout of MT5 is Market Watch, Navigator, Trading, and Charts. Besides, MT5 also has changes in display buttons compared to MT4.
Trading time frames of MT4 and MT5
Second, the MT4 trading platform supports users to trade with 9 different time frames from M1 (1 minute) to MN (1 month). In case the user wants to use additional time frames, they need to install additional scripts. Meanwhile, the HFM MT5 platform allows users to trade with 12 time frames from 10 minutes, 20 minutes, 2 hours, 4 hours to annual, and many other time frames.
System of technical indicators and analysis objects provided
Next, the MT4 trading platform has 30 built-in technical indicators and 31 analysis objects. Meanwhile, the Meta Trader 5 platform provides users with 38 technical indicators and 44 analysis objects.
Match orders and manage trading orders
Regarding order matching, the MT4 platform provides 3 types of order matching and 6 types of pending orders. MT5 provides 4 types of order matching and 4 types of pending orders.
Finally, there is the management of trading orders. While MT4 wants to cut losses and take profits through One Click Trading, MT5 can set stop losses and take profits with the mouse, as a default feature.
Key features of HFM MT4
Currently, the HFM MT4 trading platform is trusted and chosen by many investors around the world. That’s because of the following useful features:
Many indicators and analytical tools on HFM Markets MT4
Currently, HFM forex’s MT4 trading platform provides users with 30 different types of indicators and 31 analysis objects. Besides, investors can also seek advice from experts on this platform to have the most comprehensive view of the market.
The number of trading accounts is unlimited when performing on the HFM exchange
The number of accounts that can be opened for trading on HFM is unlimited. Investors can choose the type of trading account they want to test different investment strategies. From there, choose for yourself the most suitable strategy for long-term trading.
HFM Markets MT4 allows tracking live price data and past price history
Another feature of HFM Markets MT4 is that it allows users to track live price data as well as past price history. From this price data, investors will have a more comprehensive view of the market in the future.
Some notes when trading on the HFM MT4 platform
To be able to trade on the HFM MT4 platform smoothly and effectively, you need to keep in mind the following notes:
Switch to UK during trading on HFM’s MT4 platform
The HFM MT4 trading platform supports users in many different languages. Therefore, if you do not know English or your English is not high, you should switch to the UK for ease of use. However, currently, the UK on the MT4 platform is not supported very well and still has many errors, but it will still be much better than if you try to use English and do not clearly understand the meaning of the words. This can lead to misunderstanding the meaning of words and placing wrong orders.
See more: Instructions HFM sign up account on the phone
Enable email alerts when using MT4
While using the MT4 trading platform, you should enable email alerts. When there are any unusual fluctuations in the market, MT4 will send alerts via email to customers to promptly monitor and adjust their transactions. From there, unwanted risks and losses can be limited.
Enabling email alerts is relatively simple. You just need to use the key combination Ctrl + O to open the Options tab. Then select Email and fill in all necessary information.
Please check the information for accuracy and completeness and select OK to enable the process of enabling email alerts to be officially completed.
Besides, during the actual trading process on the platform, you will gradually gain many valuable experiences. Besides, if you are still not confident, you can use the HFM demo account to practice making transactions before officially investing in the market.
Conclude
In general, compared to the MT5 trading platform, HFM MT4 supports fewer tools and indicators and is also less flexible. However, MT4 has a more dominant number of traders. Because not all improvements are suitable for users. Many people are used to using MT4 effectively so they do not want to change. Please carefully refer to the above article of Learn Forex Trading to choose the trading platform that best suits you. In addition, if you don’t have an account, register now to receive a bonus. There is currently an HFM 30$ bonus for newbies.
(FAQ) Some frequently asked questions about the HFM MT4 trading platform
To better understand the “national” trading platform MT4, people can refer to the following questions:
Is the HFM MT4 trading platform safe?
The answer is that HFM Forex’s MT4 platform is safe, reputable, and legal. User information is also absolutely confidential. Therefore, investors can completely feel secure in making transactions.
Is it possible to change the time zone on the MT4 platform?
The time zone on the MT4 trading platform is fixed and cannot be changed.
Should I use the MT4 or MT5 trading platform?
There is no exact answer to this question. Using the MT4 or MT5 platform depends on each person’s preferences and needs. Everyone can refer to and choose the most suitable platform for themselves.
