Kinds of Forex Trading Platforms
From trying to register at various forex brokers, in the end, I also began to recognize various types of trading platforms that can be used for transactions in forex. It turned out that I felt each had its own advantages and disadvantages. Here I will try to discuss a little about the various trading platforms. Indeed, this discussion may be specifically for "original newbie" like I used to when I first tried to jump into the world of forex trading. Okay, let's look at some of the following types of trading platforms.
Meta Trader
MetaTrader is the most widely used trading platform by forex brokers in the world. Currently the most widely used is MetaTrader4, although there are several brokers offering MetaTrader5. As the most widely used trading platform, MetaTrader does have many advantages, for example: allowing traders to use Expert Advisors (EAs) and custom indicators. The appearance is also easy to set according to taste.
In addition to being software for downloading and installing on our PC / laptop, MetaTrader is also available on mobile packaging for trading via smartphones and tablets. If you are able to use MetaTrader, there will be many broker alternatives for trading, because most brokers provide this trading platform.
Streamster
This is the first trading platform I know, because Marketiva, a broker that uses this trading platform, is the first broker I know. One of the advantages of Streamster is the default display that is more "clean", available news and alerts that are already integrated, and there are already chat rooms to connect directly with Marketiva's support officer and with other fellow forex traders.
However, Streamster unlike MetaTrader, does not allow traders to use EAs or custom indicators. So, the only option to trade with Streamster is trading manually. It's not usually Streamster for EAs to be installed and custom indicators are a complaint for some traders. But in my opinion, precisely by practicing trading manually, later traders will be more confident in conducting analysis, and not just the habit of relying on EA alone.
But in fact, for traders who are accustomed to using EAs and custom indicators, there is also a MetaTrader-Streamster bridge that allows traders to "send orders" from MetaTrader to Streamster. It's just that, for the setting it needs to be isolated. As with MetaTrader, Streamster is also available in mobile versions lately that allows traders to trade from smartphones.
Different Web Based Forex Trading Platform
In addition to the MetaTrader used by most Brokers and Streamster used by Marketiva, there is also a web-based trading platform. That is, to trade in the broker, we simply access the web from the broker via a browser (Chrome, Mozilla Firefox, or others) and immediately trade on the web without downloading its own trading platform platform.
In the past, various web-based forex trading platforms were provided separately by each broker, so the system was different. But now, even Metatrader4 and Streamster are available in software form, they also have their own version of the webtrader.
Well, that's some type of trading platform available to transact online on the forex market. Which is the safest and most convenient to use? Mmm, that depends on preference. There are a number of fellow traders who prefer MetaTrader, but there are also some who say they already love Streamster so it's hard to move to another heart, bro, hihihi!
There are still several other types of trading platforms. Check out more in article 5 Alternative to the Popular Forex Trading Platform.