Trading Platforms Comparison
The term trading platform or trading terminal refers to a software solution used to gain access to international financial markets online. A trading platform is just a tool provided by an intermediary institution – a forex broker. With this tool, a trader can see the changes in the market and get information about their deals. If you are interested in forex trading, probably you can start with a forex bonus.
There are a lot of cutting-edge developers of trading platforms in the market. We decided to make a comparison of the best terminals and tell which brokers offer them under the best trading conditions. Let’s get down to business!
The Best Trading Platforms in 2022
- MetaTrader4 is one of the most popular software solutions to trade on forex. It was developed by MetaQuotes. The developers did a great job to create a terminal with an intuitive interface and advanced technical features. It has 9 timeframes and provides traders with the possibility to operate with 2 pending orders – take profit and stop-loss. Plus, with MT4, you can test different trading strategies both manually and with algorithms. One more feature worth considering is that MT4 provides access to trading signals from the MQL.Community, which enables almost automated trading strategies.
- MetaTrader5 is an upgraded version of the previous trading terminal. MetaQuates added a feature that allows tracking market volumes, but it’s available only on the stock exchange. In addition to a hedging system of orders, MT5 added a netting system where all the open orders are summed together, and the payout is the average price. More pending orders are available with MT5. In addition to the previous ones, you can use Buy Stop Limit and Sell Stop Limit. The number of indicators and timeframes is also bigger
- cTrader was developed by SpotWare. This is a trading terminal for professionals. Basically, it has all the functions one solution can contain. With cTrader, you can earn not only on Forex, but on ETF, futures, and options. One more distinct technical feature is called cAlgo. With it, traders can benefit from different indicators, scripts, and advisors. With cTrader, you can also benefit from the system of algorithmic trading called cBot. There are two markets and two pending orders. Because of its sophisticated functions, cTrader isn’t as popular among beginning and intermediate traders as MT4 or MT5.
The Best Forex Brokers with Advanced Trading Platforms
No matter what trading solution you use, if you work with an unreliable intermediary. Your success from trading and investing heavily depends not only on the functional features of the platform but also on specific conditions offered by forex brokers. Here is our recommendation on the 3 best forex brokers with advanced trading platforms:
|Broker||Trading Instruments||Trading Platforms||Supported OS|
|DotBig||Forex, stocks, CFDs, indices, commodities, ETFs, crypto||MetaTrader4, MetaTrader5, DotBig Web||Windows, Android, iOS|
|Libertex||Forex, stocks, CFDs, indices, commodities, ETFs, crypto||MetaTrader 4, MetaTrader 5, Libertex||Windows, Android, iOS|
|RoboForex||Forex, stocks, CFDs, indices, commodities, ETFs, crypto||MetaTrader 4, MetaTrader5, cTrader, R Trader||Windows, Android, iOS|
Among the displayed solution, we suggest that you should explore the DotBig trading web platform. DotBig Web has a very user-friendly interface that helps beginners to deal with their trades. Besides, it has a lot of indicators and advanced trading signals, enabling algorithmic trading.
Trading Platform for Beginners
Although MetaTrader4 and MetaTrader5 are user-friendly solutions, it might be complicated for beginners to master them. That’s why we suggest starting trading with ZuluTrade if it’s supported by your forex broker.
ZuluTrade is the first-ever trading platform created for copy trading. Copy trading is a very good feature for beginners because they can learn from more experienced traders. They can examine their performances and copy all their deals automatically. This is also a good tool for advanced traders because they can make a passive income by sharing their strategies. Currently, ZuluTrade is used by more than 90,000 traders from all over the world.
To start trading with ZuluTrade, you need to make a minimum deposit of $100. Other commissions aren’t applied. All trading fees are included in the spreads. Nonetheless, bear in mind that ZuluTrade is just an instrument. Your broker can impose additional fees.
With ZuluTrade, you can access any market available with your forex broker. You can copy even crypto deals. Currently, ZuluTrade is supported by more than 50 international trading companies.
Experiences of Real Traders
Testimonials of real users are one of the best indicators of the quality of a trading platform. We managed to find the following reviews about the displayed solutions:
- “MT4 makes it easy for us to open, close, and maintain operations in real-time without delays or errors in execution. This software is lightweight and adapts quite well to our mobile and portable device. It also has easy integration with the VPS service when it comes to performing operations on autopilot.” – Evan B. on G2.
- “MetraTrader 5 makes trading so simple and easy to do provided you already have the knowledge to trade the money and capital markets. I enjoy trading on MetraTrader 5 so much as it makes my trading of CFDs so easy unlike other complex trading platforms.” – Daniel K. on Capterra.
- “I trade through the DotBig web terminal. The platform is convenient, it has all timeframes and indicators. It’s perfect for me. I like the ability to trade automatically. For this purpose I connected the platform for copy trading. The minuses for me are high commission. To get the money faster, you need to apply on weekdays. The financial department does not work on weekends. It takes the longest time to withdraw through a bank, so I choose to withdraw by card.” – Terry A. on Sitejabber.
Conclusion: How to Choose the Best Trading Platform
When choosing a trading platform, pay attention to its key features, available indicators, timeframes, and usability. If you are a beginner, you are unlikely to understand how cTrader works. It’s better to pay attention to the DotBig trading Web platform or to MetaTrader4. Similar to ZuluTrade, the original trading platform of the DotBig company has a copy-trading feature. MetaTrader4, on the other hand, is available to the majority of international brokers. Explore the conditions and trading options, and choose your best platform.
How to choose a trading platform for forex?
Examine the number of available orders, timeframes, and indicators. Also, see how its interface works. It should be intuitive and user-friendly.
What are the most important features to consider when choosing a trading platform?
Security, reliability, user-friendly interface, trading fees, and extra features (such as algorithmic trading and trading signals) are the most important features to consider.
What is the difference between MT4 and MT5?
MetaTrader5 is an upgraded version of MetaTrader4. MT5 added some new features such as additional indicators, more pending orders, and a trading calendar.