What is the Best Platform to Use for Forex Trading in 2018?
By TLB Contributing Financial Writer: Andrew
The forex trading business rarely sees the inception of new major trading platforms. But when that happens, these platforms end up being completely dominant. This is exactly what happened when MetaTrader 4 first hit the markets in 2005. The platform is part of a series of trading programs developed by MetaQuotes Software. Since its development and rise to fame, other platforms have also been developed but none quite challenges MT4’s dominance. While this platform is extremely popular, it does not mean that there are no other competitors that can do what it does. Here is a quick look at the best forex trading platforms available today as well as a mention of what makes them great.
MetaTrader 4 (MT4)
The first platform is the ubiquitous MT4. This platform appeals to the masses because it is a very stable program for trading. The platform almost never falls short of performing the tasks it is supposed to perform. Trading with this platform is fast, secure, easy and convenient. The platform is available for virtually any popular computer and mobile device system. The features offered on MT4 are also quite extensive and unique. With the platform, users can be able to:
• View multiple charts simultaneously
• Access a plethora of indicators
• View multiple time frames
• View pending orders
• Trade fast with 1-click
These among others are the features that make this platform so popular. MT4 is without a doubt a top-tier platform and a strong candidate for the best platform overall.
As its name suggests, this platform is also developed by MetaQuotes Software. It is a successor of MT4 and comes with most of the capabilities that the predecessor platform has. This platform was released in 2010 and over the course of the decade, it has grown by leaps and bounds. The platform emphasizes improvements in speed and general features. Much of what is done by MT4 can also be done by MT5. The only difference between this platform and its predecessor is the overall popularity of each. Most forex traders who loved the first version of the Metatrader programs seem to have stuck with it since it is in no way inferior to the new version.
Ninja Trader (NT)
This platform is one of the formidable forex trading alternatives that are outside the MetaQuotes Software realm. In many ways, NT is a modern and capable forex trading platform. It has a user-friendly and flexible interface that can be tweaked to suit the needs of a trader. The platform also comes with the ability to display multiple charts within the same interface. The several indicators available on the program can also be displayed concurrently when necessary. Of all its features, the most significant feature of the NT platform is its simplicity. The platform has a straightforward approach to analysis that has made it a favorite for stock traders, forex traders and options traders alike.
In conclusion, when a topic about forex trading platforms is raised, the major names that will arise are those mentioned above. There are also a few other popular and rising platforms like cTrader. However; for its popularity, simplicity, and reliability, Metratrader 4 remains the undisputed king of forex trading.
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