Frequently Asked Questions (FAQs)

MetaTrader 4 is the most popular Forex trading platform in the world. Also known as MT4, it is a free program that is used mostly in desktop computers, although it also has simpler versions to be used in mobile devices. Most major brokers offer it among their options to operate the Forex market. Moreover, there are countless Indicators, Expert Advisors (robots), and other programs designed for MetaTrader 4. And it is very easy to find MT4 programmers capable of developing more personalized tools.

Also called forex robot, the EA is a program developed to trade autonomously in MetaTrader 4 (MT4) and MetaTrader 5 (MT5). In general, the EAs are designed to operate the forex market in a similar way as a professional trader would. That is, continuously monitoring the market for certain chart patterns and conditions and, once these are identified, opening and closing trading operations. Learn more about Expert Advisor EA programming.

MQL4 stands for MetaQuotes Language 4, which is the programming language used to develop the programs supported by MetaTrader 4 platform. The number at the end of MQL specifies the version of MetaTrader terminal related to it. So, if you need to build an Expert Advisor MT4 then you must develop it using MQL4, and if you need an EA for MT5 then you must use MQL5.

MQL4 programming is the process of developing algorithmic software in the programming language MetaQuotes Language 4. These tasks are carried out by professionals specialized in MetaTrader 4 and who are commonly called MQL4 programmers.

MT4 uses the programming language MetaQuotes Language 4 (MQL4). Learning MQL4 is necessary to develop Expert Advisors (EAs), automated trading robots, financial market indicators, and other Forex trading tools for MetaTrader 4 (MT4). You can learn more about FX programming language in this post: What are MQL4 and MQL5?

Yes, we recognize that there are many terminologies and these can get confusing. That’s why we created the post “Different types of MT4 programmers“. Thus, for example, you will be able to distinguish between MQL4 programmers and EA programmers.

In a nutshell, MT4 programmers are software developers specialized in the design, creation, and modification of programs in the MQL4 language. These programs can range from a basic financial indicator to a complex Forex robot or MetaTrader Expert Advisor (EA), which would serve to analyze and trade the currency market (FOREX) through the MetaTrader trading platform.

Automate a forex trading strategy, visualize patterns and trends in a chart, develop robots or Expert Advisors, add alerts to an indicator, or modify programs developed by other coders. These are some of the tasks that will require the services of MT4 programmers or Forex EA programmers.

Finding a good MT4 coder is not an easy task. You must do at least a little research on the web to make sure that the MT4 programmer has experience, prestige and, of course, the desired skills. In this post, we offer you several tips that you should consider before hiring their services.

Yes, both denominations refer to the same type of programmer. In both cases, they refer to a coder who develops programs for the MetaTrader trading platform. In fact, other terminologies also exist such as EA programmers and Forex programmers. To clarify this more in detail, we have written the article ‘Different types of MT4 programmers‘.

There is not an exact figure on this. The income of an MT4 programmer varies depending on several factors. One of them is if the MetaTrader programmer works individually or for a company. It also influences their level of skills and experience. In many cases, MT4 programmers are not exclusively dedicated to developing programs for MetaTrader. Instead, they use MT4 programming as a complement to another main job. This makes it even more difficult to determine how much of their income belongs to the performance as an MT4 programmer.

Theoretically, MT4 programmers work about 40 hours per week. However, reality says that an MT4 programmer can reach on average 60 hours per week. Even in extreme cases, an MT4 programmer can work up to 80 hours per week. New technologies make it easier for MT4 programming to be done from anywhere with an available terminal. So MT4 programmers often work remotely, sometimes from their own home. This means that the time dedicated to work and personal life cannot be clearly distinguished.

If it’s any consolation, practically everyone has had some bad experience with an MT4 programmer at some time. However, there are certain precautions that you can take into account to avoid making mistakes again. You can take a look at the post ‘Tips to hire a MT4 programmer‘. There we give several advises on this matter.

These are algorithmic trading programs that can do multiple forex tasks automatically on the MetaTrader platform. Expert advisors or forex robots are developed in the MQL language as part of MetaTrader 4 programming. A trader can use them to monitor the financial market and execute trading operations without any human intervention. Learn more about MT4 Expert Advisor programming in this post: ‘Expert Advisors. Understanding Forex Robots‘.

One way or another, most of us operate the forex market to earn money. So, if you develop an Expert Advisor MT4 that consistently provides benefits, why would you upload it for free on the web? By pure common sense, this would make no sense. Our recommendation is that you only use a free MetaTrader Expert Advisor to study, as a source of inspiration, or as a starting point to achieve a superior EA.