In today’s fast-paced and ever-changing world of trading, having access to a powerful and innovative trading platform is essential. Award-winning, technology driven financial services company Fxview offers a range of advanced trading platforms to cater to different trading styles and preferences.
Choosing a trading platform
When it comes to trading platforms, many traders may be concerned about their complexities and ask questions like: what level of experience is required?
In answer to this, Fxview provides user-friendly platforms for a broad range of trading experience. Starting from newcomers to trading and going all the way up to the level of seasoned expert, Fxview traders have a choice of three popular, customisable trading platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), and ActTrader.
How to choose between the three? Every trader has their own unique financial goals and strategies. The overview and comparison of each of the platforms that follows may assist traders to make an informed decision and find the proper fit for their trading journey.
MetaTrader 4: The Trusted Classic
MT4 is a widely recognised and chosen trading platform. It has been in the market for nearly two decades and is well known for its user-friendly interface and powerful analytical tools. Besides that, MT4 has an extensive library of technical indicators and Expert Advisors (EA) options.
Featuring nine global trading time frames, 30 default indicators, and market execution for trading orders, MT4 is a popular choice for traders seeking to access international financial markets, including forex, commodities, and indices, all from a single platform interface.
One of the key advantages of MT4 is its compatibility with multiple operating systems, including:
● Windows
● Mac
● Android
● iOS
● and the web-based platform Web Trader.
This wide operating system compatibility means that traders can trade anytime (during the market operating hours), anywhere, and on any device that suits their convenience. Whether the preference is to trade on a desktop, laptop, or mobile phone, MT4 offers seamless movement between devices and assists with identifying various trading opportunities.
Advanced charting capabilities
Another standout feature of MT4 is its advanced charting capabilities. The platform provides a wide range of chart types, timeframes, and customisation options, and is compatible with MQL4 programming language. These features may assist traders to analyse market trends and make informed trading decisions.
Equally important for traders who prefer an automated approach to their strategies, MT4 supports automated trading through the use of expert advisors (EAs), which are pre-programmed trading strategies that can execute trades on a trader’s behalf based on predetermined criteria.
On top of all these features, the MT4 News Section feeds a 24/5 stream of market news, economic developments and company news directly into the trading platform interface, keeping traders fully informed about day-to-day changes that could affect asset prices.
MetaTrader 5: The Next Generation Trading Platform
MT5 is the successor to MT4 and while it includes all the features already discussed, it also offers several enhancements and additional advantages.
Most notably, traders have the option to invest in stocks and cryptocurrencies alongside other instruments like forex, commodities and indices. This expanded range of tradable instruments may provide traders with opportunities to diversify their portfolios and explore different markets.
Other additional features in MT5 are:
● MT5 features 21 time frames compared to nine time frames in MT4.
● Six pending order types are available in MT5 versus the four offered in MT4.
● An Economic Calendar highlights more information about trading events.
● A Market Depth chart giving insights into the current state of demand and supply for trading instruments and their underlying assets.
● MT5 has 38 default indicators compared to MT4’s 30 default indicators.
● Like MT4, MT5 features the MQL4 programming language plus one more language: MQL5.
ActTrader: Strengths in Order Control and Analysis
The exceptional features of ActTrader include its advanced analytical charting capabilities, such as a suite of 48 default indicators and detachable Windows to make it easier to view charts. Furthermore, unlike MT4 and MT5, ActTrader supports visual algorithmic trading, enabling traders to take advantage of additional trading tools and strategies.
ActTrader offers a choice of forex, global indices, commodities, and stocks. Key features like the Multi Account Manager, pre-defined Lot allocation, and pre-defined Stop Loss/Take Profit for every symbol, might fit traders seeking advanced order controls.
In terms of compatibility, ActTrader is available for Windows operating systems, iOS, Android and Web Trader across different devices.
What sets it apart:
● A user-friendly interface ensures easy navigation and effortless customisation.
● Unlike its counterparts, MT4/5, ActTrader boasts three distinctive interfaces – the Fx Voyager toolbar, Application Menu, and Skins.
● A comprehensive range of indicators, from trend analysis tools like Moving Averages to oscillators such as the Relative Strength Index (RSI).
● Real-time data feeds provide timely market insights.
● ActTrader's integration of advanced drawing tools, such as trendlines and Fibonacci retracement levels, simplifies intricate technical analyses.
What is the proper fit?
Each platform offers its own set of features and advantages, catering to different trading styles and preferences. Fxview ensures that traders have the option to choose a platform that may fit their needs and provide a personalised experience.
Finding the proper fit for a trader’s needs is instrumental for seeking market opportunities. So it’s worth it for traders to take the time to explore the features and capabilities of MT4, MT5 and ActTrader to make sure they are a match for their trading goals and preferences. To start their trading journey with Fxview, traders can open an account directly from the website or try a demo account to familiarise themselves with the platforms.
To further inform their trading platform choice, traders can refer to the user-friendly Platform Comparison Tableon Fxview’s website. This table provides a side-by-side comparison of the three platforms, highlighting their key features and compatibility with different operating systems.
With Fxview's innovative and versatile trading platforms, traders have a personalised trading experience that empowers them to take advantage of the market.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.31% of retail client accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
