MetaTrader 4 is a Forex platform, which was specifically designed for FX trading. As retail Forex is a relatively new industry, it didn't have reliable third party software available until MetaTrader 4 appeared. These are just a few of the benefits of MetaTrader 4. One of its strongest selling points is its stability. You can really count on this platform. In addition to this, it is also supplied with a powerful set of mobile apps.
Quite similar to MetaTrader 4, this is one of the best Forex trading platforms. In general, MetaTrader 5 is slightly faster, supports more types of orders, comes with a larger amount of indicators and has some additional features. Whilst it is a better platform, there aren't any huge, revolutionary differences which can make MetaTrader 4 redundant. What is good about MetaTrader 5 for both traders and brokers is that it can handle a larger amount of trading instruments compared to MetaTrader 4.
in recent years, Spotware has developed 'cTrader' as a competing trading platform for Forex traders. While the platform does offer advanced charting and trading features, similar to the MetaTrader platform there are some differences: As MetaTrader is one of the best known platforms for auto-trading it has a large online community that share new strategies and indicators. It also makes it much easier to find support on the internet for the MetaTrader platforms, whereas support may be limited for cTrader's auto-trading capabilities.
The NinjaTrader trading platform has been around since 2004 and is designed for active forex, futures and stock traders. While the platform offers advanced charting, automated strategy development and trade simulation, those who wish to execute trades from their platform must purchase a lifetime licence or lease the platform on a quarterly or annual basis. One of the main reasons MetaTrader platforms are so popular and commonly used is the fact they are free to the trader via their broker.
The eSignal trading platform is geared towards advanced traders who enjoy fully customisable features. While the platform offers all the standard features expected of a modern trading platform, users can create their own trading strategies or market screeners through the coding language. The platform offers advanced drawing tools such as time and price squares and Gann boxes, as well as the ability to view up to 500 symbols at one time. However, to access streaming and real-time data feeds, traders need to connect their platform with one of eSignal's supported brokers.