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LCG MT4: The Best Trading Software for Forex Brokers

Analyst Team trader
Updated 26 Jul 2022

Since its introduction in 2005, LCG MT4 (also recognised as MetaTrader 4) has grown to become a universal and widely used trading platform for Forex traders. This trading platform gained prominence by the years 2007 and 2010, since many brokers began to use it as an alternative to their proprietary software.

LCG Experience

Today, it is seen as the best LCG MT4 broker platform for investors from around the world, as it allows users to place orders and see Forex prices and live quotes. In addition to handling Forex trading, MT4 also supports trading in CFDs, commodities and futures.

  • Smart trading options and functional tools
  • Fast and handy mobile trading
  • Security and convenience
  • Technical analysis and pricing structure

Smart Trading Options and Functional Tools

The MT4 LCG trading platform supports three trade execution modes. This also includes a trailing stop function and four pending, two market and two stop orders. It comes with quick trading options, which ensures that sending trading orders straight from the chart is seamlessly possible with a single click. You also obtain a reliable and precise manner to determine entry and exit points, owing to the built-in tick chart feature. The functionality provided by LCG MT4 allows traders to put into action various trading strategies in the Forex market.

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The platform offers relevant technical tools in addition to significant resources that help traders analyse the price dynamics of financial instruments. In addition to this, MT4 also provides automated trading programs to its traders.

This makes it trouble-free to trade in a befitting manner. With MetaTrader 4, traders can examine financial markets, run trading robots (Expert Advisors), perform advanced trading operations and copy the deals of other traders. MT4 is a trading platform as well as a charting package. It consists of a huge library of built-in indicators. This also includes Volumes, Trends and Oscillators. With the MT4 community available for free as well as on a commercial basis, you can also expand the platform with thousands of open-source indicators. The built-in programming language helps you write your own custom indicators, scripts and Expert Advisors. You can also backtest trading strategies in a rapid manner with the help of historical data.

Fast and Handy Mobile Trading

With mobile trading, traders can conduct trading processes even when they are on the move. This is done through the help of portable devices such as tablets, smartphones and pocket PCs. Traders using the mobile MetaTrader LCG trading platform gain access to many analytical options and alternatives. This also means obtaining a geographical display of quotes to complete trade account management. You can keep a watchful eye on the market as well as your own account in an effective way. This can be especially helpful when your desktop has crashed or you are unable to use it for some reason. MT4 mobile trading is similar to the desktop version of the MetaTrader 4 platform. This version is available to Android and Apple devices for free.

With MT4 for an Android OS:

  • Users can gain total control over their live account
  • Traders can establish dynamics of the symbol quotes through integrated charts
  • It comes with all kinds of orders

With MT4 for iOS:

  • You are exposed to more than 30 technical indicators
  • You gain compatibility with iPad, iPhone and iPod touch
  • For the iOS version, LCG MT4 permits traders to conduct systematic trading account management
  • It provides traders with all types orders
  • You gain access to the market from anywhere in the world

This way, traders who posses Android as well as Apple devices can make the most of this platform. MT4 also works for Windows phones.

Security and Convenience

The MetaTrader 4 platform stands true to the highest security standards that exist. Any type of data exchange between the client terminal and the platform severs is encrypted and untraceable, so your trading accounts are safeguarded in a secure manner. In addition to this, the platform also supports the utilisation of RSA digital signatures. The LCG MetaTrader comes with a brilliant line up of advanced analytical and trading features. This makes trading processes and procedures as well as keeping a watch on the market convenient. MT4 consists of a user-friendly interface and intuitive layout, which makes its functions and operation principles easy to understand.

It also only takes a few minutes for you to get acquainted with the workings of this platform. It comes with a User Guide with a thorough Q&A section that covers many of the issues you may encounter. The built-in programming language used is object oriented and is easy to use, especially if you are well versed with Visual Basic .NET, C# or Java. This works to extend the platform in a manner that is fitting to your needs. With MT4’s technical tools, you can analyse financing instruments and price dynamics. Customisable charting tools are integrated and you are provided with direct access to export historical data.

Technical Analysis and Pricing Structure

MT4 provides extensive analytical opportunities. To understand and comprehend the most all-inclusive analysis of price dynamics, the platform offers 24 graphic objects and 30 built-in technical indicators. Traders can visualise price dynamics in detail, owing to the fact that every symbol is displayed in nine time frames. Putting these tools together helps you understand entry and exit points as well as recognise trends. In this way, you can gain a broader perspective of market movements, which in turn helps you analyse the right time to trade. In terms of pricing structure, the LCG trading platform does not charge any fee for downloading and installing MT4.

It also does not impose charges for using the MT4 trading platform on any devices. Opening demo accounts to try out the platform is cost-free, as is opening live trading accounts with online brokerage firms on MT4. However, in case you are planning to invest your own funds through this trading platform, there are specific costs that come into the picture. The exact cost you have to pay can vary for online trading and depends upon the Forex broker. Other than this cost, it is safe to presume that downloading, installing, opening and using the account is free of charge. This proves to be immensely effective, since you gain a library of custom functions that can help you perform trading operations at no cost.

Getting Acquainted MetaTrader 4

Conducting an LCG MT4 review puts into perspective the short amount of time it takes to install MetaTrader 4. After you download the MetaTrader 4 program, a MetaTrader 4 setup window appears. After reading the licence agreement and clicking next, a new window pops up. Here, you can accept the default installation folder or identify a different one. You will then need to perform the necessary program setup tasks that come when installing any program. After you tick the necessary options, a new window appears that will give you a view of the installation progress. Select next and MT4 will launch its default parameters.

After this, you simply have to fill in your relevant details in order to open an account. By default, the account opened is a default account. Although it depends upon the processing power of the computer, it takes approximately 15 minutes or less to install the program. As soon as an account is open and funded, you can begin the trading process. It is advised that you use an Expert Trader, especially in the beginning. After you get familiar with the principles of trading, you can start managing your trades on your own. With more experience under your belt, you will be more aware of the apparent and obvious trading mistakes and can be cautious enough to steer clear from them.

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MetaTrader 4’s Advanced Options and Functions

There are a variety of reasons why MetaTrader 4 is considered to be one of the superior trading platforms used by all kinds of traders around the world. This platform comes with a set of areas and charts that users need to follow. The form and colour of the chart can be changed according to your own preferences. You can even create new charts and switch from one window to another with just a single click. You can utilise any amount of indicators you need by modifying charts. Traders can even change the type of currency when working with a particular chart. Doing this does not lead to any data loss.

The navigation platform is hassle-free and versatile and also comes with an array of advanced features, which are usually hidden from beginner users. For instance, you can utilise alert indicators such as RSI alerts and price level alerts for your charts. These can be seamlessly downloaded from the internet and set in the MT4 platform. When you activate the alert, you are sent an email. You can also create new charts, save your charts in the personal profile and open it all together. The indicators give you a glimpse of the time zones and the sessions that are active at that particular time.

Review of LCG MT4

Carrying out a broker comparison shows that MT4 has an upper hand owing to the following aspects.

  • User-friendly experience: Beginners as well as experienced traders can navigate easily and trade seamlessly in the complex and volatile market.
  • Low on resources: In contrast to other platforms, the MT4 platform is comparatively low on resources. This helps the platform react in a rapid way so that trade requests are processed instantly. It also lowers the level of disruption caused to your PC.
  • Flexible in nature: The platform is built with the ability to trade other markets, such as equities, commodities and futures. In addition to this, it also supports all currency crosses.
  • Real time communication: The platform fits in advanced communication tools for brokers, allowing you to post messages and interact with other traders in real time.
  • Effective customisation: MT4 supports full customisation features. This makes it easy for the trader to modify the platform in a manner that suits their trading preferences and choices.

If you prefer simplicity over new and improved features, MT4 is your best bet. The platform does not offer native support for OSX, while the lack of new features can make things repetitive. There can also be improvements in design as well as functionality. However, despite some of these drawbacks, traders, especially those in the beginning stage, still find the platform to be immensely useful.

The Bottom Line on LCG MT4

Conducting a LCG MT4 broker comparison helps you understand that LCG MT4 is a platform trusted by a majority of brokers, market exponents and traders, whether they are new to trading or experts. Powerful, dependable and easy to use, it is considered the best when it comes to online trading. The success of this platform is largely due to its algorithmic trading functionality, powerful charting functions and wide array of available indicators.

With expert advisors, an efficient user interface and invaluable tricks, it facilitates live access to global trading markets. The simple and straightforward interface helps traders of all experience levels pick it up quickly. With its mobile apps, speed as well as accessibility, flexibility and compatibility, MetaTrader 4 is a trading platform that can serve traders of all experience levels productively. The ease of use that the company provides, whether that be on desktop or mobile, is one of the reasons they are highly thought of.


The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.