A crucial part of forex trading is what type of broker you will select to deposit your money and start trading. In terms of trading platform there are two main categories of Forex and CFD Trading Brokers.
Some Brokers have their privately owned platform, such as EToro which has the best social trading Platform and Plus500 (a popular CFD Trading Platorm offering 2000+ instruments to trade).
The majority of Brokers use MT4 platform (Metatrader 4), the most famous forex trading platform. The latest years, more and more brokers are adding MT5 platform (MetaTrader 5 platform), a platform that has been designed to replace MT4 but up to today has no success on that.
Most Traders are used with MT4 Trading and they are not so keen to change their trading habbits, while Forex Brokers tend to promote more MT5 pltaform.
Usually when a broker offers MT4 platform to its traders, it also offers MT5. Most reputable brokers offer both platforms.
MT4 Brokers and MT5 Brokers Exclusive List
In this list we mention if a broker has only MT4, only MT5 or both options for traders.
1.) AvaTrade – MT4 & MT5 Trading Platform
AvaTrade Review (Update 2021)
- trade Crypocurrencies 24/7
- Fully regulated broker
- MT4, MT5 Trading Platform
- Social Trading via AvaSocial app
- No Fees in Deposits and Withdrawals
- Global customer support in 15 languages
2.) Admiral Markets: MT4 & MT5 Trading Platform
- Regulated by CySEC, FCA and ASIC
- MT4 & MT5 Trading Platform
- Scalping, Hedging and Expert Advisors
- 40 Forex Trading Currencies
- Over 3350 Stock CFD to trade (Trade.MT5)
FBS Trusted Review
- Best Forex Broker Asia 2018
- +190 countries traders Accepted
- Official FC Barcelona Partner
- MT4-MT5 Account
4. GrandCapital – MT4 and MT5 Trading
Grand Capital Trusted Review
- Regulated by FinaCom
- Expert Advisors Friendly
- High Leverage Broker
- Over 30 deposit/withdrawal methods
- Bitcoin Deposit and withdrawls
- Contests with cash prizes
- VIP accounts for deposits over $50 000
MT5 – A new innovative platform
MT5 is a popular trading platform used by Forex and CDFs traders. The MT5 trading platform is similar to the MT4 trading platform but MT5 contains more trading features. The MetaTrader 5 trading platform offers an improved trading platform with better analytical functions.
MetaTrader 5 was published in 2010, 4 years after the production of MT4. As of when MT5 was founded, MT4 has already gained a lot of grounds and was very popular in the Forex trading world.
The idea behind the production of the MT5 trading platform is to perform most of the functions that the MT4 trading platform cannot perform. MT5 can trade other markets like CFD Stocks, CFD Commodities and CFD Cryptocurrencies. Metaquotes must have anticipated the explosion of CFD Trading which led to the production of MT5 trading software that can suit the market.
ADVANTAGES OF MT5 PLATFORM
The advantages delivered by the MT5 trading platform are as follows:
- The MT5 platform offers a very good trading network that provides features like diverse trading and ordering accounts, it supports different types of orders, various types of execution, and also market depth. MT5 uses both the hedging method and the netting method. The hedging method allows a Forex trader to open many positions under one financial instrument, either in the same direction or opposite direction. Additionally, the MT5 trading platform allows a four order execution method, which includes the Request, Market, Instant, and Exchange.
- As a Forex trader, you need to be able to adequately indicate which direction the market will move in the future. This function will not only make you become a successful trader but also is one of the top criteria a good trading platform should process. The MT5 platform offers different analytical tools, which enable a detailed price analysis and predictions. With the MT5 trading platform, you’re given access to open as many charts as possible, up to 100 charts can be opened at a time.The MT5 platform comes with 21 timeframes, and also 11 types of minutes charts (M1, M2, M3, etc.). It also has weekly, daily and monthly charts. The MT5 platform has about 80 analytical tools and also inbuilt technical indicators, it comprises 39 graphical objects, 38 technical indicators, 4 scaling modes, and 17 display styles indicator a trader can choose from. These outstanding technical tools will help you have a successful and profitable trade.
- The MT5 trading platform provides its clients with devices used for conducting fundamental analysis such as the economic calendar, the financial report that is delivered by global news agencies, etc. This enables you to predict price movements of many financial instruments…
- The MT5 trading platform offers the best and most intriguing robotic or algorithm trading feature. Robots evaluate the market and make trading decisions on your behalf. All you need to do is determine the exact trade strategy and put up explicit instructions. The robot will execute your trade based on the given instructions. The MQL5 setting is what makes algorithm trading feasible. The MQL5 allows you to create, tryout, and use trading robots to fit your definite trading requirements. The MQL5 setting also gives rise to rapid order execution, unlike the MetaTrader 4 platform. Not only does the MT5 enable you to have sophisticated expert advisors (EAs), it also allows you to process a huge amount of data.
- The MT5 trading platform enables you to purchase extra services for improving its functionality. The MT5 platform offers trading robot markets, virtual hosting and copy trading aid, and also a database of freelance trading method creators.
- The MT5 system offers inbuilt advanced reports, that enable its clients to quickly and easily analyze read activities. This data allows you to trail the first and final deposit values, and it also helps traders to fully understand indicators such as Z-score, Profit Factor, and GHPR.
A simple and multifunctional trading platform is what every beginner or a professional trader should have. The success of a trade depends on how good and efficient the trading platform is. An MT5 trading platform offers all these functions and much more.
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