Forex platforms & software

What Is Forex Trading Platform?

A piece of software provided by a broker, that clients can use to execute trades in the forex market, is known as forex platform or trading platform. Brokers offer different forex platforms including but not limited to MetaTrader4, Metatrader5 and Web Trader. Trading platforms are usually downloadable. Some web based forex platforms, however, don’t require any downloading. Instead, they can be accessed via online using a computer connected to the internet.

What Are Multi-Asset Trading Platform?

Software or forex platform that allows users to trade multiple assets including forex, stocks, currencies, commodities, indices, and CFDs is known as multi-asset forex platform. Clients are usually offered MetaTrader5 to trade multiple assets. Traders only need to open an account with a forex broker offering MetaTrader 5 as its trading platform.

What’s the Best Trading Platform for Traders?

It is a difficult question to answer. Since all trading platforms have minimum essential functions and sometimes even advanced functions in common, therefore, it depends on trader’s preferences that what kind of platform he/she deems suitable. If he/she only wants to trade forex, then he/she should opt for MetaTrader4 without any second thought. Traders, however, traders should go for MetraTrader5 (MT5) if they wish to trade multiple assets.

Top Trading Platforms

MetaTrader 4

MetaTrader 4 is the best trading platform. Because of its user-friendly interface, most traders prefer using MetaTrader4. Other features of Mt4 forex platform include;

  • Readily available and easy to operate
  • Offers automated trading as well
  • Traders can select a range of instruments using MT4
  • It has more than 50 indicators to offer
  • It offers Multilanguage customer support
  • It is compatible with mobile phone apps
  • It also offers charting facility to traders

MetaTrader 5

Traders who are interested in trading multiple assets mostly prefer using MetaTrader5. It is an upgraded version of MetaTrader4 forex platform. It is designed to satisfy the needs of modern traders. The main features of forex platform (MT5) are as follow;

  • It offers advanced features such as netting and hedging accounting systems
  • It offers unlimited 21-time frame charts following a one-minute quote history
  • It provides almost 80 built-in technical indicators with deep technical analysis and analytical tools
  • It’s trading signals features make traders copy trades of other skilled professionals automatically
  • It has built in Forex Virtual Private Server (VPS)
  • It issues alerts to keep traders informed well in advance about the upcoming important economic events
  • It is supported to be used on android, iOS, and windows based mobile phones and tablets

Web Trader

As mentioned earlier, a forex platform available online is known as web trader. It works the same way as MetaTrader4 (MT4) and MetaTrader5 (MT5) do. The only difference is that it doesn’t require clients to download anything. Since it is based on the web, therefore, it can be accessed online from any part of the world 24/7. Other features of the web trading forex platform are mentioned below.

  • It allows traders access forex market instantly.
  • It has user-friendly interface almost same as that of MetaTrader4
  • It offers clients a facility of one click trading
  • It provides real time quotes in the market
  • It is completely secured and encrypted by SSL protocols
  • It also has basic analytical tools available to assist traders in their decision making

Sirix Trading Platform

It is another famous trading platform offered by some leading forex brokers. The best part of Sirix trading platform is that in addition to regular trading, it allows you to copy trades of other professional traders. It means it also serves as a social trading platform.

  • It has an easy operational interface that even a novice trader can use it without any problem
  • It offers clients a facility of one click trading
  • It offers built-in HTML 5 with a great design and advanced protection
  • It has in-depth technical analysis and charting tools available
  • It offers seamless social trading experience
  • It can be accessed 24/7 online

AvaTradeAct

While searching for the best forex platforms, one cannot overlook AvaTradeAct. A simple yet innovative platform equipped with all necessary tools and functions making its way to attract hundreds of traders.

  • It is easy to operate
  • It offers advanced technical indicators and flexible charting tools available
  • It allows trading in more than 250 instruments
  • It can be accessed anytime, anywhere using a PC, mobile or other supported devices
  • It offers large number of order types
  • It offers flexible leverage
  • It offers step by step instructions to assist traders

Thinkorswim

Another top-rated forex platform is known as Thinkorswim. It is considered one of the most advanced forex platform in the market. It makes it very easy for you to trade stock, metals, indices, futures, and options etc. from a single account.

  • It offers unique and easy-to-use user interface
  • It offers advanced technical analysis and charting packages available for traders
  • It is supported for all operating systems i.e. mobile and tablet devices
  • It gives users immense pleasure while trading and offers a comfortable trading environment

Forex.com

In contrast to other famous trading platforms such as MetaTrader 4, MetaTrader5 and Web trader, Forex.com has its own reputation. It offers a complete solution for trading. The FOREXtrader pro is offered with a partner app “Tradable” making users go beyond the limits. Users of this forex platform can configure every bit of their trading plan.

  • It can be operated with an ease of reading instructional manual
  • It offers its clients a clear and competitive pricing model to execute trades
  • It keeps traders updated by bringing them real-time market analysis
  • It offers a complete control on forex platform optimized for maximum profits
  • It offers a wide range of leverage options for maximum profitability

MB Trading

MB forex platform is a specialized platform that offers different expertise levels for professional traders. It doesn’t only target professional traders but it also takes into consideration the needs of intermediate and novice traders. Key features of MB Trading platform are as follows;

  • It is convenient and reliable to use
  • It offers multiple platforms supported with android, iOS and windows based devices
  • It is highly customizable and has advanced analytical tools available
  • It offers you all necessary trading tools along with some advanced features and takes your trading to the next level
  • It offers traders to trade stocks, metals, futures and indices using one account

NinjaTrader

In the end, let us mention another award winning forex platform named as Ninja Trader. We have reviewed many forex platforms so far but this one stands out of all other trading platforms. It actually gives you the right to own it. Yes, you are no more dependent on brokers to use their platforms. Now you can have your own world of trading. Ninja trader forex platform can work with any broker after you purchase it. It will only cost you $999 for a life time license. Alternatively, you can lease it also. Other features of Ninja Trader include;

  • It is offered for free to test strategies, simulation of trades and advance charting
  • It allows traders to optimize and interpret the historical information of their trading strategies
  • It allows traders to take effective trading decisions by empowering them through real time market analysis
  • It gives personalization of trading platform to help traders focus on their trading plan and execute trades
  • It offers generous leverage along with additional features and analytical tools such as time & sales, hot lists, level II and much more