To stay profitable on a financial market without an efficient platform is just like wandering in a desert, trying to find a lost diamond ring. ‘Which trading platform can best serve an amateur?’ or, ‘Which forex trading platforms have the best tools to convey accurate market predictions?’, are the questions commonly asked by many such traders who want to occupy their position better in trading.
Forex players of all skill levels desire a great combination of tools in any platform to remain profitable in trading. Today, any trader would like to be a part of a well-equipped and technologically sound forex trading platform. While hunting down to determine which medium has the most advantages, we have come up with some trading platforms that have been quite popular among the traders.
Let’s check them out and discover how much potential they each hold to keep you running in the forex business.
Find the most reliable Forex trading platform in 2021
Numerous Forex trading platforms are out there competing to be the top favorite among its users. However, only a few of them offer advanced trading services. Some platforms offer better features, while others offer effective strategies to keep up on the trading race.
Make your analysis out from the suggested platforms we discussed here, and decide which one you prefer the most.
MetaTrader 4 (MT4)
MetaTrader 4 is still commonly popular among millions of professional forex traders to this date. This software is known for its great stability and is applicable for operating systems like iOS, Android & Windows. It offers the traders to use its built-in MQL language to form their individual indicators. They are quite advanced in their trading service, providing well-established technical analysis, flexible trading, excellent advisors & various mobile trading applications. It also has a reliable encryption system that holds every data safe & secure.
MetaTrader 4 Supreme Edition is quite advanced than MetaTrader 4, having 50 more types of tools & researching instruments to use for trading. They perform better when combinedly installed and operated altogether. Trading is very convenient with this latest edition.
One of the strongest features of MetaTrader 4 is its analytical functions with advanced technical indicators. The interactive charts will quickly show full details of quotes regarding any price changes. All these components make it the most suitable forex trading platform we have today.
This is a much better version than MetaTrader 4. It has more indicators than the previous one, better additional features & it can hold various types of orders. It performs quite faster than MetaTrader 4 and can efficiently operate a good number of trading instruments. Though MetaTrader 4 & 5 are quite similar, the latter has more potential.
Similar to MetaTrader 4, MetaTrader 5 has its own advanced version available called MetaTrader 5 Supreme Edition that has more upgraded tools & research instruments.
MetaTrader 4 & 5 are both advanced trading platforms that efficiently support new and experienced traders. They are great for Forex mobile trading as well. They both are highly reviewed than other platforms and are rated as the top best software.
cTrader has specialized charting features just like MetaTrader 4 & 5 with a great community that deals with new indicators & strategies. It provides limited auto-trading & customization capabilities.
It lacks essential features like an economic calendar, real-time news updates & smart signal trading strategies, which are already available in MetaTrader editions.
cTrader gives support only to Android and iOS devices, making it less dynamic than other platforms. Overall, this is a less desirable forex trading platform when compared to MetaTrader versions.
NinjaTrader is commonly used by forex & stock traders and had been in this market since 2004. It provides the new traders to utilize its free platform using more advanced tools like charting, market analysis & semi-automated execution. The opportunity is great for the new ones as it excludes using real money.
It also gives access to a variety of technical analysis functions for a better experience in demo trading. Free daily webinars are hosted and also provide Sim trading to help guide the traders better.
Traders extensively use this forex trading platform for day trading stocks and futures trading.
The eSignal trading platform provides great customization features that allow its users to develop their own trading strategies through the coding language. Customer service support is offered 24/7.
Some great components you can find from their service:
- well-integrated market scanner
- advanced charting tools
- real-time market data release
- user-friendly instruments
- time and price squares and Gann boxes
ProRealTime was originally developed in France and currently has 628,416 global users. Though it does lack a mobile trading app, it works well on windows. The main attraction of this platform is that it provides over 380,000 financial instruments to all its customers worldwide. The traders find their exclusive charting software & analytical tools very useful while trading.
The traders can do efficient trading using its ProRealCode language by customizing market scanners and trading strategies. Additional fees are required to access real-time market data.
Overall, ProRealTime is another great forex trading platform for improving your trading skills.
The forex trading platforms we discussed above are most convenient to use for both the new and the experienced traders. Some offer the best techniques while others are comparatively less competitive. But in general, they all provide great opportunities and learning experiences to explore the forex world in depth.
We recommend you to choose the one that goes best with your trading style.