Today, we live in the age of technology and have changed our way of life. He has contributed to almost every sector, including trade and economics.
As a result, we can now trade online from any corner of the world. And when it comes to online trading, the Forex or the exchange becomes popular every day.
Forex online trading is the first choice of people interested in online trading because it has incredible trading platforms. Many traders are often confused as to the best platform.
So for them, I’m going to present today some of the best trading platforms of 2019 (approved by professional traders).
Therefore, without wasting time, let’s start.
When it comes to FOREX trading online, most brokers will provide you with various trading platforms, but the MetaTrader platform is the most common. This software was developed almost ten years ago.
MetaQuotes Corp. – MetaTrader 4 and MetaTrader 5 are the two main choices of trading platforms.
MetaTrader 4 is a Forex platform, specially designed for currency trading. As the retail industry is a relatively new industry, the third-party software was unreliable until the appearance of MetaTrader 4.
It is a reliable trading platform that offers traders many useful features, including:
- 1-click trading
- Many Expert Advisors available
- More than 50 indicators
- Order pending
- Limit order
- Multi charting
- Nine different time frames
Benefits of MetaTrader 4
These are just some of the benefits of MetaTrader 4. One of its main strengths is stability. You can really rely on this platform. Apart from that, it also comes with a set of powerful mobile apps.
This application is available for almost all types of operating systems, including iOS, Android and Windows. Needless to say, this mobile platform is also very stable and strong.
Disadvantages of MetaTrader 4
You will sometimes find that some brokers offer broader spreads on the MT4 platform compared to the smaller spreads they offer through their main trading platforms (assuming that the relevant broker offers multiple trading platforms at the same time). the negociation).
In addition, some professional traders claim that platforms are slower than other trading platforms.
Similar to MetaTrader 4, this is one of the best Forex trading platforms. In general, MetaTrader 5 is slightly faster, supports several types of orders, includes more indicators, and has several additional features.
Although this is a better platform, there is no big revolutionary difference that can make MetaTrader 4 redundant.
The advantage of MetaTrader 5 for traders and brokers is that it can handle more trading instruments than MetaTrader 4.
Benefits of MetaTrader 5
Although MetaTrader 5 is similar to MetaTrader 4, there are many benefits that are not found in other forex trading platforms. For example, MetaTrader 5 has:
21 times that traders can see. This includes 11 types of “minute” charts (such as M1, M2, M3, etc.), seven types of “hourly” charts (such as H1, H2, H3, etc.) as well as daily, weekly, and monthly charts. . .
Most platforms, such as MetaTrader 4, have only nine slots.
Six types of pending orders are: stop-buy, stop-sell, limit-buy, limit-sell, limit-buy-stop and limit-sell-limit. MetaTrader 4 and other platforms typically offer the first four types of pending orders.
Ability to switch between “cover” mode and “net” mode. The hedging mode allows you to trade opposite positions and has revolutionized the trading options for Forex traders.
Market Depth (DOM) which allows traders to view offers and offers at prices different from those of financial instruments.
In recent years, Spotware has developed ‘cTrader’ as a competitive trading platform for Forex traders. Although the platform offers sophisticated mapping and trading capabilities, there are some differences similar to the MetaTrader platform:
As MetaTrader is one of the most well-known platforms for automated trading, MetaTrader has a large online community that shares new strategies and indicators.
It also makes it easier to find Internet support for the MetaTrader platform, while support may be limited to cTrader’s automated trading capabilities.
cTrader does not allow setting of indicators and limits the use of third-party programs, while MetaTrader excels on a fully customizable platform.
MetaTrader offers additional features such as the economic calendar, real-time market news and the “trading signal” feature, while cTrader does not.
Since this platform is available in web browsers, the focus has not been on mobile application development so far. Currently, cTrader is available for Android and iOS devices only.
While this may include most merchants, it prevents those who use Windows phones. MetaTrader 4 and 5 are certainly the best Forex trading platforms for cellular trading.
The trading platform NinjaTrader exists since 2004 and is designed for forex traders, futures and active traders.
Although the platform offers advanced graphics, automated strategy development and trading simulations, those wishing to trade from their platform must purchase a lifetime license or lease the platform on a quarterly or annual basis.
One of the main reasons why the MetaTrader platform is so popular and popular is the fact that they are free for traders through their brokers.
In addition, NinjaTrader acts primarily as a Forex trading platform and not as a market data provider.
This means that to receive end-of-day or real-time market data, users must connect their platform to one of the market data providers operating with NinjaTrader, such as Google Finance or Kinetick.