This has revolutionised trading as for the first time in ages, retail traders have a wealth of information at the tip of their hands. And what’s more, some of the more advanced trading platforms out there are now powered by machine learning and artificial intelligence which means that they can analyse huge chunks of historical and correlated data and come out with predictions that are eerily similar to present market trends.
How to Choose the Perfect Trading Platform?
But not everyone who comes into retail trading has prior knowledge of the market and sometimes the overflow of options can seem daunting and even scare some of the newer players away. This is why online trading platforms which offer simple intuitive controls are in high demand among these newcomers.
How to Choose the Perfect Trading Platform?MT4- Is it Worth it?Forex Trading Platforms: How do they Differ?
On the other side of the pond we have seasoned veterans who do not jump into a trade before conducting rigorous research about the company as well as the niche. These people prefer to have all the historical data available to them and the very best trading platforms make it easy for their users by consolidating all of these data into easily interpretable graphs. Not only that, they also include panels that provide trading signals through social trading functions and also include various other important metrics such as market volatility and moving averages over a certain time period. Now most automated online trading platforms out there are geared towards either simplicity and ease of use or towards sophisticated data mining with a slightly complex user interface. The problem that most retail traders face is that once they become accustomed to the easy to use interface, they are reluctant to make the jump across to a more feature and information rich platform because of the steep learning curve involved.
MT4- Is it Worth it?
So is there a solution- a platform that would let traders enjoy the best of both worlds? Well turns out there is one. Forex metatrader 4 platform otherwise commonly known as MYT4 is the most popular platform forex traders use and the reason behind it is because of the immense customisability and ease of use that it offers. From historical data to one click purchase and sell of stocks, MT4 allows the newcomers to ease themselves into the process by letting the expert
Forex Trading Platforms: How do they Differ?
advisors and trading bots handle the bulk of the work while it lets the experienced retail traders have granular control over their trades and set up trade limits and individual algos using MQL4. But then going on popular opinion has led to the downfall of many a retail trader so instead of basing our judgment on opinion, we will try to set up a few guidelines for what makes a good online trading platform and see if MT4 fits the bill. With the help of Expert Advisors, trading bots and near instantaneous trading capabilities, MT4 checks all of these boxes making it one of the better choices out there for retail traders looking to venture into the automated online trading scene. However, software is always a matter of choice and not one size fits all, so if any other trading platform covers all of these vital points, then they’re worth checking out as well!
