When it comes to trading, technology is essential. Its advance over the past decades was enormous, and thus it became fundamental to deal makers or deal breakers. The times when you called you broker over the phone to make a transaction are long gone, the internet took over our lives and the tools we use in our current activities are fundamental to our success of failure.
Now, all trading is more or less done online, via one platform of another. Some things are quite important in this endeavor: your computer, and how advanced it is, your internet connection, and how fast it is, and by far the heart of this system, the trading platform. All trading is technology-based today, and over the years, some markets developed better technologies than others.
State-of-the-art technology for FX
Maybe one the most advanced of them turns out to be the FX market, given the increased interest from investors in this type of market and the high stakes in terms of potential profits. In the FX world, some brokers use their own developed trading platform, while others rely on Forex trading platforms developed by software companies specialized in this sort of products. Over the years, one such software producer distinguished itself from the rest and managed to offer products that became softer of choice for a large part of the investment community. And we are naming Russian-based MetaQuotes Software, with their MetaTrader 4 (MT4) and MetaTrader 5 (MT5). It began, basically, as an online charting product, to transform into a complex platform.
MT4 and MT5, competitive solutions
MT4 offers traders the possibility to perform price analysis, place orders etc. You can personalize your analysis, using volumes, trend, accumulation, average true range and so on. You can also add time-frames – minutes, hours, days, months. Another interesting feature is that you can have your Expert Advisor (EA) working with the MT4, helping you in your trading venture. Basically, you introduce your strategy – sell or buy at a certain price, and then the EA implements it. You also benefit for a quite large MQL4 community that can offer support and advice at any time, and help you improve your trading.
Then came MT5, with more or less similar features, only improved to meet the needs of the investors. It offers Forex trading, stocks, futures etc., price analysis tools. It supports traditional trading, as well as hedging, all types of orders. All in all, traders can make any strategies and have at their disposal all types of tools to implement them. The EA is, of course, available in MT5 as well.
The MetaQuotes Software also developed the mobile version of the platform, available for both iOS and Android and equipped with all the trading function of your desktop platform, it monitors your trading history and account status. And, of course, allows you to stay connected with the markets even if you are away from your desktop.
Like a conclusion, if you are in the market for the best available FX trading platform, the MT 4 or 5 are those to look for, thanks to their complexity, wode community and adapted mobile solution.