Metatrader Brokers

MetaTrader (MT4)is a free program that is specifically designed for online trading, technical analysis, and for the development and execution of automated trading systems. Automated trading programs (also called trading robots) do the trading for you whether you're at your computer or not. If you like to program and want more information about the MT4 package go to the Metatrader homepage.

Some forex brokers use the MT4 Platform which allows you to write your own trading program and/or use an existing program that was written by another programmer to trade your account.

I include the information about the Metatrader brokers only because I use them for the free DDE data feed that they offer which drives the unique trading tools I use in the Trend Zone - Forex Trading System. I've traded in their practice accounts, but never found the platform comfortable.

However, some traders think they will find an automated trading program that will make them rich without them having to put any effort into trading. You will find no shortage of folks that want to charge you thousands of dollars for these programs claiming that they will bring you great riches in a short period of time. They will offer you great back testing results to prove their claims.

In my opinion, back testing is meaningless. Anyone who writes one of these programs can run back tests until they find an optimal window of time for the test that shows great success. I've tried several of these automated programs (ones that I could obtain for free) in my demo MT4 account and found them to lose much more money than they gain. I'm sure the ones you have to pay for are no different. Remember, the brokers are trading against you in most cases, and they know how to spot a trading robot and short circuit it before it takes their money.

Trading is serious business, and if you are looking for a business that will make you rich without you having to do anything you need to find another direction.

For the sake of fairness, I am including links to all the MT4 brokers I know of so you will have multiple sources for your free DDE data feed. You can try their platforms to see if you like them, and if you do that's great. However, I will warn you to use great caution if and when you decide to try automated trading.

Here is a list of links to the MT4 brokers that I've used for demo accounts and for DDE data feeds. Each one has slightly different offerings outside of the common trading platform.