Metatrader for iPad, similarities and differences

The development of various communication technologies and the global Internet allows almost every trader to keep abreast of all events.
If previously currency speculators could only trade through special trading platforms that were installed only on a personal computer, now you can trade through your phone or tablet.

The fact is that progress does not stand still, and emerging smartphones or tablets are now an order of magnitude more powerful than the computers that you bought literally five years ago.

Naturally, with the advent of technological capabilities, programmers and brokerage companies do not stand still, so the appearance of such applications was not some kind of super news.

Today, the two operating systems that are installed in almost every tablet are considered the most common in the world, namely Android and iOS from the mega corporation Apple. Trading platforms for tablets and smartphones have almost the same functionality, the only thing that differs is some design elements.

However, in this article we will try to get as familiar as possible with the MetaTrader program for iPad and also find similarities and differences with the version for MT4 for a personal computer.

Installing MetaTrader for iPad

In order to install MetaTrader on your iPad, go to the broker’s page, where you are offered to download the corresponding application. After you click on the appropriate logo, you will be automatically transferred to the iTunes store where you can download and install the application completely free of charge. You can also launch the AppStore yourself and use the search bar to find the program in the search.

After the first launch, you will see a traditional window in which the program will prompt you to create a demo account or select a server for an existing one. After you enter your account information, the application will launch, and you will get this view:

 Functionality overview

If you look at the appearance of the program, you can highlight the vertical menu, which is located on the left of the screen, as well as the horizontal one, which is located under the graph itself. It is worth noting that the horizontal menu is very similar to what is present in the MT4 trading terminal for a computer.

The horizontal menu has six tabs, namely “Trade”, “History”, “Mail”, “News”, “Journal”, “About”. Also in the same menu there is an icon that is responsible for the location of the chart. So, briefly for each tab:

1) The “Trading” tab displays the positions you have opened and the situation on your account. It is in this tab that positions are closed.

2) The “History” tab displays the positions you have closed.

3) The “Mail” tab contains broker notifications, as well as your notifications.

4) The log tab contains system notifications that occur during various errors, glitches, etc.

5) In the “News” tab you will receive important statistical data as well as political statements, as happens in MT4.

The horizontal menu itself is completely identical to the menu in the MT4 trading platform. In the vertical menu, by selecting a specific icon, you can launch additional functions that are present in the program.

 
By clicking on the first icon with a person's image, you can see your personal information and also change it. The second icon in the form of two multi-directional arrows corresponds to the market overview. It is worth understanding that initially the terminal does not display all currency pairs, so by clicking on the plus sign on the right you can add those currency pairs that you are missing.

The third icon allows you to communicate via chat with other traders registered on the developer’s website, and the fourth icon allows you to open a position.

At the bottom of the vertical menu there are five icons that significantly expand the functionality of the program. The first cross icon allows you to make standard changes to the chart in pips and candles. The sixth icon, in the form of candles, allows you to switch the chart type from candlestick to linear or in the form of bars.

The seventh icon will be especially useful for traders who use technical analysis, since thanks to it you can apply forex technical indicators. As in MT4, all indicators are divided into sections.

 
The next seventh icon allows you to conduct graphical analysis, namely draw trend lines, use Fibonacci tools, and also draw certain patterns.

Similarities and differences between the iPad and PC versions

If we ignore all the nuances in the design and take into account only the functionality, then we can clearly say that the version for iPad is practically a copy of the standard MT4 but with reduced functionality. The fundamental difference between these platforms is that the iPad version does not have the ability to use advisors, or use custom indicators and scripts.

In conclusion, I would like to note that the MetaTrader application for iPad allows you not only to monitor the current situation with open orders via a PC, as was previously the case, but also to conduct full technical and graphical analysis.

Download MetaTrader for iPad You can contact any of the Forex brokers.