MetaTrader is not the only trading platform in the Forex market, despite its tremendous popularity in the financial sector. Let us look at other systems used as a substitute to MetaQuotes Software Corporation’s MetaTrader.
We can assure you that with MetaTrader, nothing is wrong! It is the most robust platform for trade and information, which works perfectly well.
There are two likely alternatives to MT4 if your brokerage is looking at delivering a superior way to trade: cTrader and Protrader. Let’s look at all of the options to see which one is a better match.
As their primary (and usually the only) trading site, most smaller FX brokers focus on MT4. And cTrader can be found as a convenient substitute for most such brokers. It provides a web trading interface similar to the desktop version and a comprehensive set of features.
For FX and CFD goods, cTrader offers a superior trading experience, and the look & feel of the platform is only incomparable to MT4. Besides this, since it can be conveniently related to TopFX liquidity, it is also a perfect forum for start-up brokerage firms.
Multi-asset traders and financial companies have mainly utilized this software so far. Although cTrader is an excellent option for brokers with smaller FX/CFDs, Protrader is a superior option for big brokers who depend mostly on MT4. It is a liquidity-neutral trading site, which ensures that a significant trader can combine the new liquidity pools. Hence, it would be quite a seamless operation to switch customers from MT4 to Protrader. This device comes with a similar functionality set as a standalone platform, iOS, smartphone platforms for Android, and as a web trading framework.
One of the critical distinctions with Protrader is that it is a forum with many properties. This is extremely useful for major brokers who are seeking to expand the spectrum of their goods. In addition to this, brokers will be forced to launch new goods to sustain their trading volumes, considering recent reforms to European regulations. It is possible to sell Forex (spot) and CFDs and Equities, Futures, Options (vanilla), and Spread Betting inside the same trading site with such tools as Protrader.
Finally, Protrader comes with comprehensive customization choices, both to appeal to consumers’ demands and the operating specifications of different brokers. Also, Protrader comes with certain unique features that can only be accessed with the aid of third-party plugins in MT4.
MT4 is somewhat behind other current trading technologies, both in terms of architecture and functionality. While a substantial share of traders still prefers MT4, the largest FX brokers have shifted most, or even all of their customers, to other trading platforms. Although smaller retail FX brokers can be far better off integrating with cTrader, it is advised to go to Protrader for larger MT4 brokers.
You may use other sites to do research or for other social reasons, including though you are trying to sell on Metatrader. Any platforms are built for particular purposes (more accurate and quick analysis and testing, scalping, multi-indicator trading). Using hybrid online trading systems that incorporate several benefits is a great solution.