The trading platform is an important part of today's forex trading activities. The
forex trading platform connects brokers and clients, and allows forex
traders to monitor price movements, live charts, conduct analysis,
execute orders, and use various other benefits. Along with
technological advancements, the number of trading platforms is
increasingly diverse, even becoming a competition tool between forex
brokers. As a result, this provides many new trading platform options with captivating features for forex traders.
For
forex traders themselves, the main benefit of trading platforms is
their ability to create comfortable trading conditions where optimal
decisions and maximum profits can be achieved. In
this case, both beginners and experienced traders should open
themselves to using the most suitable trading platform for themselves. However, until now Metatrader 4 (MT4) is still the most widely used trading platform for traders. The main reason is because people are already comfortable with the same thing, and are hesitant to change platforms. Indeed, to switch trading platforms is quite risky because each platform has different characteristics. But even though you have started trading with a common platform like
MT4, isn't choosing a trading platform that is able to optimize your own
trading style even more profitable in the long run !?In this article, we will briefly discuss some types of old and new
trading platforms that already exist and have many fans, including the
Web Platform, Metatrader 4, Metatrader 5, cTrader, and SIRIX.Web PlatformWeb-based
platform is the oldest online trading system that became the beginning
of what was later developed into today's forex trading platform
software. Before
the Web Platform was born, forex trading was quite troublesome because
it had to be done manually or transfer payments and exchanges via the
bank. The presence of the Web Platform has opened unlimited opportunities
where retail investors can trade forex easily, instantly, anywhere.Forex
traders can access the Web Platform easily in the browser just like
opening a normal website, after they register with one of the brokers,
and receive a confirmation username and password. The
features, appearance, and performance of the Web Platform of each
broker can vary, but in general the advantages of the Web Platform are
easy accessibility from any PC without having to install any software. Besides that, the Web Platform feature is also simpler than the
trading platform in general, with analytical tools that are also quite
complete.The
Web Platform is starting to be outdated because of the emergence of the
forex trading platform in the form of software whose performance is
smoother, lighter, and can be 'affixed' by trading robots. But
until now, a number of brokers still provide the Web Platform as an
alternative option besides Metatrader 4, including XM Webtrader and
Exness Webtrader. The Web Platform is also a popular choice among emerging binary options brokers.Metatrader 4Metatrader 4, otherwise known as MT4, is inevitably the most widely used forex trading platform in the World. MT4
was developed by the company Metaquotes Software Corp and released in
2005 to be licensed to forex brokers, who then used it to facilitate
online forex trading. Like the Web Platform, traders can follow price movements, conduct analysis, and execute orders on the platform. But unlike the Web Platform which is only available via a browser, MT4 must be downloaded and installed first. Because
it can be downloaded and installed, MT4 is also available in a mobile
version and can be applied in a variety of OS (Operating System). The main advantage of MT4 lies in the development and application of automatic algorithmic trading.Automatic trading on MT4 can be developed by brokers, traders themselves, and third parties. MT4
allows brokers to provide trading signals directly to the platform, but
expert advisor / robot installations and custom indicators from third
parties are also very easy. Moreover, traders can create their own automated trading system with the MQL4 programming language. The community of trading device developers with MQL4 already exists,
has an extraordinary number of members from various parts of the world.The advantages of MT4 make it a leader among the forex trading platforms and are liked by traders. Visit any forex broker, so almost certainly they provide MT4.Metatrader 5Metatrader 5, otherwise known as MT5, is the 'sister' of MT4. Developed
by Metaquotes Software Corp and officially released in mid-2010, MT5 is
expected to replace MT4 with various additional features. MT5 comes with a number of features that MT4 does not have, such as
the 21 timeframe instead of 9, a separate economic calendar, and an
integrated marketplace.However, brokers and forex traders seem reluctant to adopt this platform. Conversely, many choose to continue using MT4. Some of the reasons are:
Expert advisors and custom indicators built with MQL4 cannot be used in MT5; if a trader wants to trade with the same automated system, he must rewrite the program with MQL5. Thus, the effort and cost of making a reliable trading system on MT4 can be wasted.
Default MT settings
Expert advisors and custom indicators built with MQL4 cannot be used in MT5; if a trader wants to trade with the same automated system, he must rewrite the program with MQL5. Thus, the effort and cost of making a reliable trading system on MT4 can be wasted.
Default MT settings
cTrader is available in several versions, including desktop, android, iOS, and the Web. Its unique characteristics and 'clean' appearance have made cTrader a new favorite among traders. Therefore,
a number of brokers are motivated to provide this forex trading
platform for their clients, including OctaFX and Fibogroup. OctaFX even holds weekly demo account competitions with special prizes for traders who are practicing using cTrader.SIRIXThe
youngest among the other forex trading platforms in this article, SIRIX
was developed by Leverate as a platform that integrates social trading.
SIRIX
does not have algorithmic accommodating trading features and the number
of indicators available on the platform is relatively small, but social
trading integration provides a competitive advantage for SIRIX. Thus,
this platform not only displays charts and indicators, but also orders
that are opened by traders in their social trading system. In the SIRIX display image below, the social trading system appears on the right side.
SIRIX
is not in the form of software that needs to be installed on a PC, but
Web-based, so that it can be accessed like a Web Platform via a browser.
But traders' mobility is guaranteed because SIRIX is also available in mobile and tablet versions. In short, SIRIX offers the freedom of the Web Platform, cTrader
convenience, and the benefits of social trading directly on one
platform.The rise in prestige of social trading helped boost SIRIX. In its high-tech system, a community of 100,000 traders has been netted. As
a result, SIRIX has become more popular and has gathered many fans, so a
number of brokers also provide SIRIX as an alternative to MT4. Among the brokers are Forex Broker Inc. and FXPRIMUS. If you are interested in testing trading with SIRIX, you can register
for a demo account at these brokers, or visit the official website to
try the platform in the form of a free demo without the need for
registration.
Besides the five platforms, there are still many more platforms specifically developed by each broker for their clients. Some of the most well-known trading platforms of this kind are Streamster AGEA and FXCM Trading Station. Each forex trading platform certainly has its own pluses and minuses. To choose which is most appropriate for you, consider:
Besides the five platforms, there are still many more platforms specifically developed by each broker for their clients. Some of the most well-known trading platforms of this kind are Streamster AGEA and FXCM Trading Station. Each forex trading platform certainly has its own pluses and minuses. To choose which is most appropriate for you, consider: