Question: What is the merit/advantage of MT4 Standard account type?
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The Standard account is the most popular one.
It includes the basic set of necessary options in addition to the high leverage similar to the one of Mini account, really tight spreads starting with 0,1 pips and no commissions.
Stop Loss and Take Profit can be set both when opening of an order and after it.
The Standard account can be used for trading on daily charts and non-aggressive trading within a day.
Any trading strategy can be chosen for working on this account without any restrictions.
You can compare other account types with Standard account in a table here.
For more information or details of each account types, you may visit the official website.