Metatrader 4 would be the most widely used trading platform in the world, especially when trading in the FOREX market, with most Forex Brokers using it. However this is not the case when it comes to Binary Option Brokers, some will use something similar ( using a candle stick chart ) and others will use a Bee Line or a Tick Line chart or some brokers might even give you the option of choosing your preference.
No matter which Broker you choose I would strongly suggest downloading the Metatrader 4 platform ( Free to download ) onto your desk top computer and / or Laptop and install the Metatrader 4 App. onto your ipad / tablet or smart phone.
There are a number of tools on the Metatrader 4 platform that can be installed directly onto the charts, these are all default set, and changing these settings is easy. Most srtatergies will come with tools that you will have to lay onto your chart and you will have to adjust the settings. You can add as many of these tools as you like to your charts, although too many could make the chart rather confusing.
As I mentioned in one of my earlier articles on this site, always try these on a Demo Account before risking your money in a live account.
Some stratergies will require you to import some tools / programs, you will be able to do this only onto your desk top computer or lap top but not onto the Metatrader 4 App. I bought a Forex trading system thinking I could just download it onto my Metatrader 4 on my ipad and smart phone (as I spend alot of time away from home ),but as it turned out this was not possible, so I had to go out and spend more money on a lap top to allow me to trade using this new program. By the way this program that I purchased from a so called “Forex Guru”was a waste of time and money.
Install Metatrader 4 and have a play with all the tools and get used to the names of some of these tools as a few of them are common in the Binary Option Trading industry such as, Bollinger Bands, MACD, RSI and Moving Average Lines to name few.
Use Metatrader 4 to analyse your trade, then place your trade on your Broker’s platform.