Are you looking for the best forex trading platform? Below you will find inn depth review & rating of the most popular trading platforms, including MT4, MT5, Currenex, ActTrader, droidTrader, iPhone and Android trading apps
Metatrader 4 is by far the most popular forex trading platform in the world today. It was released back in 2005 by Metaquotes Software and quickly became the traders’ favorite piece of software because of its user-friendly interface, variety of tech indicators, and auto-trading capabilities. MT4 client terminal is free for download. Everything you need to do in order to try it is to register a free demo account with a Metatrader forex broker.
That’s right, Metatrader 5 is the MT4’s successor, released in 2010. However for the 5 years since MT4 release its fans built an incredibly exuberant ecosystem of EAs (standing for Expert Advisors, auto trading bots for Metarader), custom indicators, forex signal solutions etc. Unfortunately MT5 wasn’t designed to support EAs and custom indicators, coded for Metatrader 4. Traders wasn’t motivated to migrate to MT5 and refused to give up the old but gold MT4 platform. For a long time most brokers only offered demo MT5 accounts, however up to date there is a large enough number of brokers letting you trade live on the platform.
Currenex is an ECN forex trading platform, actually the biggest spot fx networks around. if you are trading via Currenex forex broker, your trades are transmitted to a number of liquidity providers that the broker has agreements with via sophisticated trade matching technology.
Usually you need at least $20,000 to open an account with a forex broker offering Currenex trading platfrom.
ActTrader is a full-featured forex trading platfrom that allow traders to customize workspace using tabs and detachable windows. Unlike MT4 and MT5, ActTrader comes with built-in One-click trading feature, that allows traders to open and manage positions in the fastest manner.
In 2011 ActForex launched FXApps, an analog of Metaquotes' MQL4 CodeBase. FxApps is an app store for Traders to find the best automated trading strategies, desined exclusively for the ActTrader platform.
For those that don't have programming skills, ActForex released ActVat, an Visual Strategy Editor in the ActTrader platfrom, that allows you to automate your trading strategies directly from charts without writing a single line of code.
Mirror Trader is a forex trading platform, that uses cutting edge technology to provide traders with wide set of trading strategies. With Mirror Trader you can choose from three trading modes:
Automatic Mirroring - Mirror Trader will automatically execute selected trading strategies on your forex account. No manual confirmation needed.
Semi Automatic Mirroring - You will be able to view all the strategies’signals in real time and confirm manually only the trades you want to mirror to your forex account.
Manual Trading - make discretionary trading decisions
cTrader is a true ECN platform developed by Spotware. It offers traders a large set technical analysis tools, access to a deep pool of liquidity providers such as Boston Prime, Citi and Sucden Financial, and lightning fast execution.
Android trading platforms
Metatrader 4 is undisputed leader among the desktop trading platforms, but Metaquotes didn’t develop a mobile MT4 for Android. Fortunately it was done by an innovative US based company, called Forex On the Go. Its droidTrader is the most popular forex trading platform for Android powered devices. It brings real time pricing, charts, and trading to your Android phone or tablet and allows you to access your MT4 trading account on the go.
However Metatrader 5 has an Android version, developed by Metaquotes.
Meanwhile several Forex brokers released in-house designed apps – for instance FX Trade for Android by Oanda and FOREXtrader for Android by Forex.com .Here is the full list of brokers offering android trading platforms.