In order to successfully operate on the financial markets, besides knowledge, practical skills and a good trading system, a trader needs the best trading platform: a convenient, fast and reliable one. A platform which will provide the trader with a maximum of necessary trading and analytical information, will organize quality process and performance of the operations, and more.
In order that each and every trader could choose an optimal trading platform in the forex market, we have compiled this rating. The most popular platforms for forex trading are: Metatrader 4, Metatrader 5, Metatrader 4PDA and SaxoTrader.
Moreover, the availability of graphical tools and indicators to provide the most accurate technical analysis and of course the ability to quickly open a deal at the best price – all this is possible only at a high-quality trading platform.
A trader’s successful trading performance depends on many factors, but one of the most important is the ability to make analysis and to open a deal.
Respectively, for making fundamental analysis a trader needs timely and efficient delivery of information (political, economic and financial news), preferably from different sources, so that they can be always familiar with the latest events and stay relevant to the market. Moreover, the availability of graphical tools and indicators to provide the most accurate technical analysis and of course the ability to quickly open a deal at the best price – all this is possible only at a high-quality trading platform.
To date, brokers and dealing desks provide the traders with trading platforms that have either been developed by the dealing desk or by third-party manufacturers that are prevalent in the market, such as Metatrader platform. Moreover, in the struggle for customers both brokers and dealing centers, in addition to the basic functions (such as ability to make transactions with setting stop-loss and take-profit; controlling the account status; one-click trading etc.), fit their platforms with extra services for greater convenience of traders.
Benefits of Metatrader are:
- News feed (economic, political, financial news);
- Access to the market quotes at the best price (available is the choice of the best price from several providers);
- Access to the Electronic Communication Network (ECN);
- Possibility of creating trader’s own trading strategies, adding extra indicators, etc.
A broker can offer their clients one or several trading platforms with different functionality. Therefore it is not surprising that sometimes it is rather a difficult task to determine which of the existing trading platforms is the best.