It is the leading Forex trading platform used by top Forex brokers like FXCM. Alpari. InterbankFX. Forex.com. Its portability to mobile devices and multiple accounts makes the list endless. It is simple to connect to your account and install the software. The MT4 platform has customizable windows and screens. The platform has an easily accessible buy and trade order form, and 50+ indicators built-in.
Its most important feature is its automated language MQL4, which allows traders to automate their trading strategy. This trading platform offers a forum and intensive support for both newbies and experienced traders who want to automate their winning strategies and earn passive income. Comes with a back-testing strategy tool to test out your winning strategy using historical currency data.
The Tradestation is a very popular software amongst experienced traders. MT4 is more popular with the average house-hold trader. The software has customizable windows and screens, as well as an indicator built-in. This software is also able to trade multiple accounts and includes a program EA to add to your trading account. Easylanguage is a programming language similar to MQL4 in MT4, but it uses structure text and plain English rather than C programming. The trader can easily convert their trading strategy to a computer program.
It is a multi-currency trading software platform that comes with indicator charts. NinjaScript is included to automate your trading strategies. It comes with a simulation to test out your trading strategy using historic results. This trading platform is also supported by a number of forums, websites offering technical assistance and knowledge.
It is less well-known but slowly gaining in popularity because it is built on JAVA. The software also includes a built-in chart indicator and multi currency trading. It is programmed in Protrader, which allows for automated strategies. Support web, desktop or mobile applications.
In house develop software
In-house developed software is a term used to describe the many different software platforms that Forex Brokers offer. To enhance and upgrade their software, they have their own in-house research and development team. These software can be operated via Web, Desktop or Hand Phone. Most in-house software is not programmed, which makes it a disadvantage compared to MT4, NinjaTrader and tradestation.