What platforms would you recommend based on your trading style?

Discussion in 'Forex Brokers' started by Riley.R, Apr 22, 2022.

  1. Riley.R


    I was pondering that there are many platforms for forex trading other than mt4 or mt5. Though I am still using mt4 to trade forex and indices. However, there are many other platforms by few good brokers those are offering these platforms such as;

    Fxview has acttrader,

    IC Markets - cTrader

    FBS - FBS trader

    Are you using any of these? Please share your views how the one you are trading is on par with mt4 or mt5.
  2. benten


    I have heard about acttrader and ctrader though I am sticking to MT4 only.
  3. The world uses Trade Station for accurate back testing and stupendous Easy Language (but only 1 sim account) vs Ninja that has horrible back testing but unlimited number of sim accounts. I once saw a list of over 80 trading platforms.
  4. TheDawn


    When I was trading forex at one point, cTrader was my favourite if you are into programmed trading. VT Trader is, imo, the best chart trading software around and if you are a chart trader you are going to love VT Trader. It's been around for 10+ years. It's the most versatile, user-friendly, and solid trading software around. VT Trader also has a scripting tool that allows you to write scripts to do a bit of automation if you so wish. It's a trading software built by traders so it really thought of everything that a forex trader would need when trading forex. I would stay away from MT4 or MT5. Some forex brokers that operate under the market-making model (I call it the casino dealer model) put in a Virtual Dealer plug-in that can really put you at a disadvantage when you are trading with them to the point that they can even change the price bar information on the chart to suit their needs and purpose since forex is traded OTC so they can quote you whatever price they want.

    So if you are using MT4 or MT5, you are always vulnerable to that possibility because you won't even know whether the broker is using the Virtual Dealer Plug-in or not. Beats me all the time how can MT4/MT5 developers allow that plug-in to be installed in the first place when that plug-in helps the brokers to engage in unfair dealing against the traders.
    bookish likes this.
  5. Thank you for posting this. I talked about Metatrader's "interference switch" for brokers to manipulate and block orders in another FX post recently. These virgin traders still don't get it....
    TheDawn likes this.
  6. TheDawn


    Cuz it's not obvious. People are used to trading assets that are traded on central exchanges and have relatively less experience trading assets OTC. It took me a while to realize the difference between OTC market and central exchanges too and when people first pointed out to me the difference and their implications, I totally didn't get it either. And especially when it comes to a trading platform, you don't even know how it works in the background.
  7. bookish


    Please file complaints with sec, cfta, etc
  8. Rodri


    Since I trade with currency pairs, I prefer the MT4 platform based on my trading style and the most suitable broker for it is FP Markets because their spreads are tight and the spreads on EURUSD average 0.0 pips even when the market is highly volatile.
  9. Sim21on


    I recently switched to MT5 trading platform as it has more time frames than MT4 along with 38 built in indicators which helps in making more robust strategies.
  10. I prefer MT4 as it is a much easier trading platform
    #10     Apr 28, 2022