But since cTrader doesn't have this popularity, it finds a way around this obstacle in style. Due to the popularity of the MT4 platform, many programmers know the MT4 programming language, and they easily build trading bots with it. Other admirable features of this platform are its QuickTrade model and Price DoM trading ladder which scalpers would find themselves in awe of.Īnother interesting thing about the cTrader Forex trading platform is that it matches the dominating capabilities of MT4 automated trading with seamless ease. In addition, cTrader offers its users a variety of order types to help cope with their trading habits. The platform also allows you to interact with different chart types, including Renko charts and tick charts. It has enough trading and charting instruments to get even the advanced traders giddy with excitement. Advantagesĭon’t let its simple looks deceive you, cTrader is remarkably sophisticated. It has modern designs and looks which make it easy for novice traders to not get overwhelmed by a page of complete jargon they don’t understand. While interfaces of the MetaTraders 4 and 5 look like they were from the stone age, cTrader looks like a modern trading platform. If there is any trading platform in a fierce competition for Forex market share with the MetaQuotes duo, MT4 and MT5, it is cTrader. Also, you will not be able to automate your trades on the web platform because it does not allow it. To add to that, it has a relatively slow execution speed which could be a major disadvantage for high frequency traders. This could be a nasty piece of work for scalpers who rely on the smallest possible timeframes. One of such flaws is that it offers a few timeframes and still does not allow you to create a custom timeframe. You can also access through the web.Īs good as MT4 may be, it has its flaws. This is a good thing for both beginner and advanced Forex traders who depend on technical tools to trade.įurthermore, this beginner-friendly platform is available across different devices such as mobile and desktop. Being the first retail Forex service provider, it has a lot of developers that are constantly providing tools, such as MT4 indicators, to the Forex public. And despite the easy-to-use interface MT4 offers, there is also an abundance of educational resources to get you up to speed on trading on it.Īnother benefit that beginner Forex traders stand to gain from using the MT4 Forex platform is the abundance of technical trading tools. But getting answers to whatever questions you have concerning the MT4 trading platform is easy due to its popularity. It is normal that you have tons of questions that require urgent answers as a beginner Forex trader. What makes MT4 one of the best Forex platforms for beginners is its astonishing popularity and massive community. MT4 offers retail Forex services through hundreds of Forex brokers which allow traders to trade Forex pairs and other financial instruments. And since then, it has gained a huge market share which other newer trading platforms are still struggling to pry from its hands. When MetaQuotes released the MetaTrader 4 platform in 2000, it was the first of its kind. Now let’s expound on these top trading platforms for Forex novices, why they are the best, and their shortcomings.