Trading Platform – Chapter 13 | Learn Forex

Trading Platform is the trading software on which trader execute trade orders, does the market studies, chart analysis, runs auto trading robots or expert advisors. Forex brokers offer varieties of trading software on the desktop, smartphone.

Some commonly used trading platforms:

Web Platform:

The web version of the trading software, it is very efficient for traders as it does not require any installation of application or software. You can start trading directly from your web browser. Just log in to your web account to view all currency rates, market charts and then execute trade orders.

Top features:

  • No extra software download required.
  • Can be accessed from any device.

The only disadvantage is, this platform is for a basic level of trading, it does not include custom indicators.

Metatrader:

forex trading platforms
Metatrader is the most popular trading software by MetaQuotes Corporation (Russia). It has two versions Metatrader 4 and Metatrader 5.

Metatrader 5 is the most advanced one for large capital traders, it supports future contracts, stock, bond trading. Allow traders to view market depth more efficiently.

Although, Metatrader 4 has higher popularity than MetaTrader 5. Because most of the forex brokers support MetaTrader 4 version as Metatrader 5 is a bit premium. Also not to mention Metatrader 4 is light weighted.

Metatrader 4 and Metatrader 5 get abbreviated as MT4 and MT5 respectively.

Top features:

  • Programmable trading software, where the user can code own custom indicators, auto trading expert advisors (EA), library and script with Metatrader Query Language (MQL). Listed in 33 positions among the world’s top programming languages.
  • Can use Virtual Private Server(VPS) to run an automatic trading system 24×7, hassle-free. Trade get automatically executed by itself with preset trade logic.
  • MetaQuotes community to help traders. A trader can get technical support from the forum.
  • Buy Sell custom indicators, EA Robots, scripts from the marketplace. Hire freelance programmer to code your logic.
  • Copy trade signals from other traders.

CTrader:

Ctrader (Cyprus) is another popular trading platform, widely used by all types of forex traders. Even with CTrader, trader can code their indicator and supports Tick Charts.

Top features:

  • Tick chart is available to view & trade directly from it. CTrader supports tick chart from 1 tick to 60 ticks.
  • You can build your own application with Ctrader open API With C# programing language
  • You can build your own auto trading system with coding.
  • Copy trade signals.
  • cTrader provides the industry’s standard FIX API trading interface with no cost.

NinjaTrader:

This trading platform mainly designed for Futures trading, developed in the United States (2003). The trader can trade currency futures with this platform. It is a paid platform. The basic software version is free but required a funded account. Advance version either you can buy it with a lifetime license or subscribe with a quarterly lease.

Top features:

  • Custom indicators are available, custom add-ons are available to install.
  • With the trading simulator, new traders can practice in live market, can test their trading performance. Trader can play, pause and rewind the markets during simulation.

FIX API:

FIX API stands for FIX(Financial Information Exchange) API(application programming interface), which is the currently trending among high-frequency traders. It is the fastest trading platform for large volume trading. Many brokers currently offer the FIX API trading platform starting from a $5000 deposit. The trader who are money managers, or have their own brokerage, FIX API is a suitable option for them.

Top features:

  • Light weighted & faster trading platform, unlike the traditional ones.
  • Can execute large volume trades with lower latency.

CQG trader:

This is a trading platform for sophisticated large-scale traders. Most advance trading software with varieties types of trading orders, limit orders like bracket orders, OCO, trailing limits etc. The broker who supports CQG generally provides liquidity from top tired banks with 5 level deep pricing.

Top CQG features:

  • Larger range of order types.
  • Can execute large volume trades with lower latency.
  • Direct Market Access to all global exchanges.

Forex School

Train yourself to be the best forex trader with premium forex lessons.

Forex News Trading – Chapter 14 | Learn Forex

Forex News Trading – Chapter 14 | Learn Forex

If you are learning how to trade forex, then forex news releases play a major role. All short term traders should mind news releases. Even bigger political events affect long term traders too. News trading is an advanced level of trading, required a proper understanding of the market direction. Economic calendar: One can find about […]

Forex Leverage – Margin – Chapter 9 | Learn Forex

Forex Leverage – Margin – Chapter 9 | Learn Forex

Lotsize or Position Size The lot size is the amount or the trade volume unit. How much money a trader will invest in trading a currency pair or instrument. More clearly, the number of currency units traders will buy or sell. The table below explains the details of forex trading units. Lot Size Lot Size […]

Forex Market Hours – Chapter 6 | Learn Forex

Forex Market Hours – Chapter 6 | Learn Forex

Forex Market is a 24 hours market available 5 days a week. Thus a trader can trade it anytime. But during the 24 hours, not all currency pairs stay active or having tradable liquidity. Some currency pairs stay volatile during a certain time of the day. The 24 hours of full-day covers almost 10+ major […]

Latest posts

Check all recently updated & newly posted forex articles, forex trade analysis, MetaTrader indicator manual update.

IQ Financial Astrology Metatrader Indicator

IQ Financial Astrology Metatrader Indicator

Last updated on November 15, 2021

Forex Market Hours

Forex Market Hours

Last updated on October 10, 2021

Referral Program – Forex Rebate

Referral Program – Forex Rebate

Last updated on August 18, 2021

0 0 votes
Rating
Subscribe
Notify of
guest

This site uses Akismet to reduce spam. Learn how your comment data is processed.

1 Comment
oldest
newest most voted
Inline Feedbacks
View all comments
Quick Chat
1
0
Would love your thoughts, please comment.x
()
x