What Is MAM and How to Use It on the MT4 Platform

To start trading Forex, you need to choose a reliable broker. We recommend AvaTrade, the brand has proven itself to be the best and has a good reputation and positive reviews. The company has been working on the global market since 2006 and has all the necessary certificates (registered in Dublin). You can view the documents and check them in the “About Us” section on the official website. AvaTrade offers a convenient interface, necessary trading tools, and comprehensive functions, so this platform is good for both newcomers and experienced traders. If you go to the website, you can see that the broker offers several access points to the financial markets, one of which is the MT4 implementation.

It is known that you can trade CFDs on AvaTrade, making money from changing exchange rates of fiat money or crypto without owning assets. If a novice trader does not have enough experience, they can copy the trades of more skilled market participants; thus, they can earn income even at the initial stage of their career, using the knowledge and experience of professionals. You can get tutorials and take webinars at AvaAcademy to learn more about Forex and trading in general. If it is more convenient for you to use a mobile device, you can download the AvaTrade terminal on your smartphone and trade from anywhere with internet access. So, let’s highlight the main advantages of AvaTrade:

• 
  licensed broker with a good reputation;
  
• access to advanced platforms (MT 4 and 5);
  
• CFDs trading opportunity;
  
• copy trade function;
  
• educational materials on AvaAcademy;
  
• availability of a mobile application.
  

Choosing the MT4 Platform

Imagine that you have already chosen an AvaTrade broker, and the next step is to choose a platform for currency trading. If you are a novice trader, then experts are likely to recommend MT4 to you, as it is the simplest and, at the same time, the most functional platform at the moment. You will be able to analyze your trades using various charts, indicators, and orders; you can also use automated trading. Expert Advisors are trading bots; they can be connected to the MT4 platform to make your work easier. To get started, you need to open your own account. To do this, you would fill out the form and confirm the email address, then you can select the platform.

You can try trading on the platform in demo mode using virtual money. If you are comfortable and want to try real trading, then you need to top up your account. We remind you that the minimum deposit on AvaTrade is $100. You can install MT4 on any device: PC, laptop, tablet, or mobile phone. You can increase the effectiveness of your activities by using a Guardian Angel. Optimizing the process will help you achieve higher performance and increase profits. If you understand programming, you can modify robots by making corrections to the code. To learn more about this, you can get instructions on AvaAcademy.

What MAM Is and How to Use It

MAM is a multi-account manager that can be integrated with MT4. This software is indispensable at the moment and is actively used, as it provides a number of advantages. Using MAM, you can manage multiple accounts at once using a single MT4 interface; this will allow you to implement more complex strategies and achieve greater earnings. Moreover, you can become a money manager (MM). In this case, you can have ten or more clients, each of whom has opened their own account and trades CFDs. If you manage other people’s trades, then clients are required to pay you a commission.

If you have too many clients, you can group their accounts for convenience and manage blocks of accounts at once. In MAM, you can sort your clients by capital size, status, and other parameters. We remind you that standard order executions are available for MM: stop-loss and take profit; they are applied automatically to each account that has been included in the deal. Funds are credited to client accounts and debited automatically, depending on the trading results. In MAM, you can manage the distribution of client money by distributing it according to the criteria: balance, percentage, capital, or lot. You can manage large transactions and the smallest ones, which amount to only 0.01 lots.

A Little More About MAM

Admittedly, MAM is very popular among MM, as it is reliable and easy to use. The flexibility of the program and the ability to make complex decisions make MAM an excellent tool for those who manage customer accounts and trade on their behalf. MM can make profits as affiliates or IB. To become an MM, you can study at AvaAcademy, use free online materials, or understand all aspects of trading from your own experience. You can use MAM on the MT4 platform after creating an account on the AvaTrade broker’s website. You can try it in trial mode to get comfortable and understand the basic principles of Forex trading.

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