One of the most notable of these is the market-making algorithm, which allows traders to create synthetic instruments based on two existing ones. This is particularly useful for platforms operating in emerging markets with poorly convertible national currencies. Order types are essential in trading platforms since they help traders place trades according to their preferences. TickTrader provides its users with a wide range of order types, including Immediate or Cancel (IOC), Stop-Limit, Iceberg, and Hidden orders, positioning it as a strong MetaTrader 4 alternative. Traders can use the different order types to limit their risk exposure and manage their trades efficiently. One could say that TickTrader is a MetaTrader 4 alternative designed to address some of its shortcomings.
- Trades, deposits, and withdrawals are executed by the broker, not directly on MT4.
- Several platforms are currently available for those users that are searching for the best MetaTrader 4 alternatives.
- One of the most popular platforms for traders is MetaTrader, with its versions 4 and 5 being used by millions worldwide.
- It is still used in several Forex brokers (mainly, the US ones), but it is more popular in futures trading.
- Users can modify the interface, including the layout and color schemes, to enhance visual appeal and usability.
In line with our motto of “quality over quantity”, we guarantee that only the highest quality trading signals are published. TradingView has superior charting tools and a far greater number of indicators than MT4. When looking for MetaTrader alternatives, make sure you conduct your own research before creating an account with a new platform. MetaTrader iOS – the MT4 and MT5 apps – have been removed from the App Store.
E*Trade Web Platform
Additionally, MT5 uses MQL5 for coding, unlike MT4’s MQL4, and offers 21 timeframes compared to MT4’s nine. So, since the security of your funds and the integrity of your trades depend significantly on the broker’s reliability, it is essential to choose one that is well-regulated. One of the drawbacks of MT4 is its user interface, not beginner friendly, which we feel it’s outdated and overly-complicated compared to more modern platforms like Tradingview.
MetaQuotes, the company behind MetaTrader, has been a dominant player in the financial trading platform market for over two decades. MetaTrader 4 (MT4), released in 2005, quickly gained popularity and became one of the most widely used trading platforms worldwide. Its successor, MetaTrader 5 (MT5), was released in 2010 with the goal of replacing MetaTrader 4, but many brokers continue to use both platforms. Conversely, numerous other Forex brokers specialize more directly in copy trading platforms and social trading platforms, with eToro being a prominent example of this focus.
Trading Terminal Features
We’ll check the key factors that are crucial for optimal trading platform performance of top 10 trading platforms that can easily replace MetaTrader. Several platforms are currently available for those users that are searching for the best MetaTrader 4 alternatives. In the next sections, we go into the details of each of these platforms to understand which are the services they offer and how we can start using them. CTrader Automate allows traders to build algorithmic trading robots to automate their trades using cTrade’s Open API. CTrade’s Open API empowers developers to write codes for apps that can connect to and trade with any cTrader account.
MetaTrader 4 (MT4) is among the most popular platforms to trade in the forex market and perform technical analysis. It features real-time insight, powerful trading tools and visual snapshots to get an overview of your portfolio. EToro is a prominent social trading and multi-asset investment company that focuses on providing financial services to a global user base. The platform stands out for its unique approach to investing, offering a virtual portfolio where users can explore, learn, and practice with $100K in virtual money to hone their trading skills. EToro provides a multi-asset platform that has revolutionized trading by allowing millions of investors worldwide to share their ideas and strategies in a community-driven environment. After almost two decades of success with traders and forex brokers, an MT5 and MT4 ban could be around the corner.