No platform is the best. There are too many trading styles and assets (very few forex traders focus exclusively on forex). Traders have favorite commodity trading platforms. They switch platforms based on goals. Some platforms are good all-rounders or leaders in options trading, mobile trading, or social trading. Visit Multibank Group.
MetaTrader 4: Web-Based Trading System (MT4)
MetaTrader 4, or MT4, is the original and still the most used trading platform in the world. It has swiftly become the preferred platform of millions of traders due to its various benefits.
The MT4 platform is widely used and is available through most retail forex brokers. Logic demands that if you are going to fight, you should practice with the weapon you will be using. This is since no one would risk going to war with an unproven weapon.
If you want to start trading with real money, you’ll need to begin learning on the MetaTrader 4 platform. In addition to familiarizing oneself with the platform that will be used in actual trading, novices can improve their proficiency in the financial markets by making use of the unique features offered by MT4.
MetaTrader 5: Web-Based Trading System (MT5)
For brokers and traders, needs are always evolving, and MetaTrader 5 (MT5) aims to meet those needs. The MT5 Platform is compatible with all the features offered by the MT4 Platform, but it adds some of its own, like enhanced trading capabilities and more robust scripting tools for creating unique indicators and automated trading robots.
The MetaTrader 5 platform is the most advanced version of the MetaTrader family of trading systems. Many of MT4’s features have been kept, but they’ve also been improved upon and even changed slightly. Regarding Metaquotes, the future of MT4 and MT5 is shrouded in mystery. Although MetaTrader 5 was released to replace MT4, it has not yet achieved the same degree of market penetration as its predecessor.
Why MT5 is the Better Trading Choice
Metaquotes is happy to allow retail brokers to use both systems because of this flexibility. Foreign exchange companies have taken steps to encourage the use of MT5 by limiting the range of available financial products for trading on the platform. As a result, it shouldn’t come as a surprise if you come across brokers who restrict the use of the MetaTrader 5 trading platform you’re provided with to the trading of only stock CFDs or cryptocurrencies.
Considering this, MT5 is the optimal next step for a novice once they have mastered MT4. Learning MT5 will be significantly less of a challenge because of the parallels between the two systems. MT5 is available as a web-based platform as well as a generic mobile app through the Play Store and the Android Market. The MT5 website provides access to both shops.