Trading platforms are the technological tool through which investors can follow price changes and execute their orders and purchase and sale operations in the financial markets in general and in real time, as the mechanism of the markets before the emergence of trading platforms was different from what it is at the present time, so they had to Dealers in the financial markets phone the brokerage company to find out the current prices and implement buy and sell orders, and many financial products can be traded through the trading platform, through a network with a financial intermediary or directly between the participants or members of the trading platform, and this includes products such as stocks, bonds, currencies and commodities Derivatives and others with a financial intermediary, such as brokers, market makers, investment banks, or stock exchanges.
Electronic trading platforms usually broadcast live market prices that users can trade on and may provide additional trading tools, such as charting packages, news feeds, and account management functions. They also provide several technical analysis tools that enable traders to analyze live price charts. Some platforms are specifically designed to allow individuals to access financial markets that were previously only accessible to specialized trading firms, they may also be designed to automatically trade specific strategies based on technical analysis or to do high-frequency trading.
MetaTrader trading platform
Perhaps one of the most famous if not the most famous trading platform ever in the forex world is MetaTrader 4 also known as MT4, which is an electronic trading platform widely used by speculative traders on online retail forex trading.
Pictures from the MetaTrader platform
MetaTrader 4 was developed by software company MetaQuotes Software and released in 2005, the software is licensed to foreign exchange brokers who provide the software to their clients. The software consists of a client and server component, and the server component is operated by the broker and the client software is provided to the broker’s clients, who use it to view live streaming rates and charts, place orders, and manage their accounts.
The client is a Microsoft Windows based application that has become popular mainly because of the end users’ ability to write their own trading scripts and forex robots that can complete the trading process. In 2010, MetaQuotes released its successor, MetaTrader 5. However, uptake has been slow and as of April 2013, most brokers are still using MT4, and although there is no official version of MetaTrader 4 available for Mac OS some brokers offer variants MT4 developed for their operating system.
MetaQuotes has also developed an update for the trading platforms that allow some companies to put some of their own plug-ins that may distinguish them from other companies, and it is an additional package called Supreme Edition on the components of the main trading platform MetaTrader and it has about 50 plug-ins that distinguish it from other companies In order to support investors’ decisions, this plug-in greatly increases the features of MetaTrader 4 such as the “Mini-Terminal” feature that gives users access to more flexible one-click trading and also enables OCA orders in addition to the ability to withdraw stop-loss and take-profit orders.
Trading platforms from the MetaTrader 5 version
It is very similar to the Metatrader 4 trading platform and one of the best forex trading platforms, in general the Metatrader 5 platform is a bit faster and supports other types of orders with more indicators and some additional features, there are no huge revolutionary differences in Metatrader 5 Compared to other trading platforms, both traders and brokers have the ability to deal with a larger amount of trading instruments compared to MetaTrader 4.
Some of the features of MetaTrader 5 can be shown as follows:
Time frame – which 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, where Most trading platforms like MetaTrader 4 only come with nine time frames.
Pending Orders – There are six types of pending orders including Buy Stop, Sell Stop, Buy Limit, Sell Limit, Buy Stop Limit, Sell Stop Limit, the difference is that MetaTrader 4 and other trading platforms only offer the first four types of pending orders. Toggle Order Mode – The ability to switch between Hedging and Netting mode allows for hedging mode with the ability to trade in opposing positions and revolutionizes trading options for forex traders. The “Depth of Market” (DOM) function that allows forex traders to view bids and asks at different prices for a financial instrument.
The upgraded version of MetaTrader 5
Despite all the previous features of the MetaTrader 5 trading platform, some companies feature the addition of MetaTrader 5 Supreme Edition, which provides more advanced trading and analysis tools, some of which can be reviewed as follows:
The “Mini Terminal” feature, which allows the ability to open and manage deals more effectively through an integrated calculator for contract size and margin, and smart order lines for partial closing and time stops.
Add advanced trading indicators such as candle countdown, pivot points, renko charts, and more.
A trading history analyzer that allows you to view detailed statistics on your trading performance in order to help improve your trading decisions in the future.
Trading Central’s award-winning technical analysis pattern recognition
cTrader trading platform
The cTrader platform was developed by “Spotware” company as a competitive trading platform for forex traders, but there are some differences between it and the popular MetaTrader trading platform.
MetaTrader is the most popular among forex and currency traders and therefore has a large online community that shares new strategies and indicators, it also makes it much easier to find online support for MetaTrader platforms, while support may be limited for cTrader’s auto-trading capabilities.
The cTrader platform does not allow customization of indicators and has restrictions on the use of external software, while MetaTrader excels in the possibility of fully customizing the platform.
The MetaTrader platform is equipped with additional features such as economic calendar, real-time market news and “trading signal” functions while cTrader does not have any of these features.
Also, the cTrader platform started on web pages and recently developed smartphone applications, but it was limited to Android and iOS operating systems, and for computers it was limited to Windows 7, 8 & 10, making etaTrader 4 and 5 definitely the best forex trading platforms on mobile devices.
cTrader trading platform
NinjaTrader trading platform
The NinjaTrader trading platform has been around since 2004 for forex, futures and stock traders, and although the platform offers sophisticated charting, automated trading strategies and also offers virtual trading, those who wish to execute trades from their platform must purchase a lifetime license or lease The platform is on a quarterly or annual basis, which distinguishes the MetaTrader trading platform from it as it is free and available to all users. In addition, NinjaTrader as a trading platform is not a market data provider which means that in order to receive real time market data users need to connect their platform to one of the market data providers that NinjaTrader works with such as Google Finance or Kinetick.
Ninja Trader platform
eSignal trading platform
They are platforms that provide all the modern expected standard features that enable users to create their own trading strategies through the available programming language, they also provide the ability to display up to 500 symbols at once and provide advanced drawing tools such as time and price boxes and Gann boxes, but To access the real-time data, traders need to connect the platform to one of the brokers supported by eSignal This means that users have to rent the platform from eSignal for a monthly or annual fee.
iSignal trading platform
ProRealTime trading platform
ProRealTime is a charting software and trading platform that offers high quality charting, analytical tools and reliable market data directly from exchanges from ProRealTime that makes it a powerful decision support tool.
Developed in France by IT-Finance and is a web-based software backed up on the company’s cloud, ProRealTime offers a wide range of advanced charting and analysis tools, and what sets it apart is the ability to create custom market scanners and trading strategies using They have their own ProRealCode language and users must pay a software license to use the platform Furthermore, there is an additional fee to access real-time market data.
In general: There are many considerations that must be taken into account when choosing the preferred trading platform, even with the MetaTrader 4 and MetaTrader 5 trading platforms at the top of the list of the most popular platforms in the world of Forex.
The best trading platforms are:
Meta Trader 4 – One of the most popular if not the most popular trading platform in the forex world
Meta Trader 5 – Very similar to MetaTrader 4 trading platform and one of the best forex trading platforms
cTrader – developed by “Spotware” company as a competitive trading platform for forex traders, but there are some differences between it and the popular MetaTrader trading platform
Ninja Trader – as a non-market data trading platform which means that in order to receive real-time market data users need to connect their platform to a market data provider
eSignal – A platform that provides all the modern expected standard features which enables users to create their own trading strategies through the available programming language
Pro Real Time – is a charting software and trading platform that offers high quality charting, analytical tools and reliable market data.