MetaTrader 4 Alternatives and their Comparison

That being said, our research found that there are at least 3,006 (counted on mobile) MetaTrader 4 (MT4) servers, and an even larger number of MetaTrader 5 (MT5) servers globally. The number of actual brokers will be fewer than the number of servers, as many brokers will offer multiple servers in order to cater to different groups of clients and across various locations. You can start trading using TradingView in minutes and get access to some of the best financial solutions right now. The financial products offered by the promoted companies carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

So, you have to look out for a trustworthy and reputed broker. The platform offers exceptional tools for complete price estimation (technical and fundamental). You can also use automatic trading techniques (trading robots) and copy trading (trading signals). TradingView has superior charting tools and a far greater number of indicators than MT4. However, you should always do your own research to find the MetaQuotes alternative for MT4 and MT5 platforms that suit your personal trading style and goals the best. Voted Most Innovative Tech 2021 by TradingView and best Mobile Platform/App 2022 by Investment Trends, is a leading platform in trading technology.

Why MT4 was removed from the App Store?

Nowadays, the eToro platform is the most popular platform for traders and it has offered many solutions to clients. This also allows users to follow other investors and copy their portfolios for a small fee. It has nine order types, three order execution options, 30 built-in technical indicators, and nine timeframes to choose from when placing orders. The MQL4 language advisors, Scripts, and indicators may all be customized on this platform.

mt4 alternative

Rather, they are the automated trading systems created by traders to execute a trading strategy. MetaTrader 4 is based on a prior generation (version) of software, whereas MetaTrader 5 is the latest version. In addition to CFDs and forex trading, MT5 can support stock trading and futures trading, making it more of a multi-asset platform. MetaTrader 4 is a third-party trading platform that connects to a broker for forex trading.

Forex Industry

We’ve evaluated over 60 forex brokers, using a testing methodology that’s based on 100+ data-driven variables and thousands of data points. IC Markets is our top pick for best MT4 broker overall in 2023. It executes more trading volume than any other MetaTrader broker each month and offers the full MetaTrader suite alongside competitive pricing, add-on trading tools, and quality market research. The signals market available on the MQL5 Community enables users to copy the live trades of approved signal providers. Also known as social copy trading, each signal provider charges a different subscription fee for access.

mt4 alternative

Moreover, thanks to its social trading approach, eToro lets users follow other investors and copy their portfolios for a small fee. This is a great opportunity for newcomers that do not yet follow advanced trading strategies and would like to get exposure to the financial world. Although it’s been around since 2005, MetaTrader 4 is the most popular forex trading platform out there. It’s a favorite of retail investors and is the platform of choice for most forex brokers.

M2 Trading System

Even more impressively, the MT4 platform remains prominent despite the evolution of newer and more efficient trading platforms. Just like MT4 and MT5, cTrader is a complete package and the Best Metatrader 4 Alternative platform. The cTrader platform displays all the prices, quotes, and asset specifications same as the MetaTrader. MetaTrader 4 alternatives do exist, and cTrader is an example of another popular forex trading platform. AvaTradeGo offers a range of trading tools and features, including real-time charts, news feeds, economic calendars, and risk management tools like stop loss and take profit orders. The platform also offers a range of educational resources and webinars to help traders improve their trading skills.

mt4 alternative

Traders can use Expert Advisors combined with technical indicators to develop, test and apply their own algorithms on MT4, making it the benchmark for online forex trading. If you are searching for the Best Metatrader 4 Alternative platform, TradingView would be the best. This is currently working as a website with a wide range of tools for investors. TradingView offers you the most advanced solutions to choose which type of trading pair you want to invest in or which commodity you want to buy. You can connect this platform to your cryptocurrency exchange or a broker account if you are an advanced trader and you can start trading with TradingView in minutes. EToro is one of the leading social trading platforms in the globe due to the fact that they offer different services in which the community is largely involved.

A possible solution? Connect to TradingView

After almost two decades of success with traders and forex brokers, an MT5 and MT4 ban could be around the corner. There has been a lot of speculation about the reasons for the MT4’s removal from the App Store, the latest being a $1m crypto cyber scam, as reported by Forbes. Initially, it was claimed that the move was linked to the Western sanctions on Russia, but this claim has been refuted. CTrader provides a superior trading experience for FX and CFD products, and the platform’s look &  feel is just incomparable to MT4.

Benefits you will gain with trading on MetaTrader 4 – Vanguard

Benefits you will gain with trading on MetaTrader 4.

Posted: Wed, 26 Oct 2022 07:00:00 GMT [source]

There is no reason for day traders to start stressing out, because there are plenty of alternatives to the MT4 Apple App. But we all know very well that traders are so busy trying to perfect their trading skills, and changing trading apps and platforms can be a tough learning curve. The MetaTrader 4 (MT4) platform is predominantly used for forex trading. However, depending on the broker, MT4 often comes with a range of other symbols — such as CFDs on indices, commodities, futures, energies, and metals. Both MetaTrader 4 and MetaTrader 5 provide an easy-to-navigate layout, with customizable templates that can control the appearance of default charts.

Is there a better professional platform than MT4 and MT5 for traders?

However, beginners can brush up quickly with access to a large depth of educational materials. So far this software was predominantly employed by multi-asset brokers and banking institutions. While cTrader is an excellent choice for smaller-size FX/CFDs brokers, Protrader is a superior choice for large brokers that mostly or only rely on MT4.