Best trading platforms for forex trading in 2020

What are the best trading platforms for forex trading?

The most critical
component of the human body is blood. The blood is responsible for the overall
development of the human body. Similarly, for a retail Forex trader, a
trading platform works as blood. The trading platform connects traders with the
foreign exchange market. It is a tool that enables traders to build their
trading empire. 

The choice of a good
trading platform, therefore, becomes indispensable for a retail Forex trader.

101Investing offers the widely used trading
platform, MetaTrader 4. Apart from this, the broker also provides several other
services like quick deposit and withdrawal, low spreads, 24/5 customer support,
and a range of tools for trading.

But the question is
which trading platform is best suited for beginners and professional Forex
traders.

Which
is the best trading platform for Forex trading in 2020?

MetaQuotes trading platform

The trading platform
created by MetaQuotes has managed to capture the attention of many Forex
traders. The Forex trading
begins and ends with this trading platform. Why not when they are
straightforward to use and understand. It is available on desktop, mobile
phone, and cloud.

The MetaQuotes trading
platform comes in two variants Metatrader4 and Metatrader5. Metatrader4 is the
oldest version of the trading platform, and the Metatrader5 is the latest
version offered by MetaQuotes.  

MetaTrader 4 (MT4)

MT4 is one of the most
eminent and used trading platforms. It is available as a desktop application, a
web-based platform, and there is an application for iOS and Android devices. It
offers critical degrees of customization and is acceptable with dozens of indicators
and analyses tools.

Note
that MT4 is used by the most top brokers, including 101Investing. The platform comes preloaded with up to 30 technical
indicators.

There is a motivation behind why it is one of the most used platforms.
It is a direct result of its powerful functionality. It offers an ongoing
offer/ask value cites in the market watch window. MT4 highlights a single signal
trading and trading from the charts.

The platform has scripting, testing, and establishing master consultants
(EAs) components, which mechanizes trading strategies. MT4 has complex charting
more than nine time periods and various chart types. Platform highlights can
expand utilizing add-on applications that created using the MQL4 language.

The trading platform offers numerous request types and risk management
instruments. MT4 platform additionally furnishes its clients with value ready
warnings using SMS, email, and pop-ups.

MetaTrader 5

It is a trading platform that is meant to replace MT4, even though the
previous remains progressively well known. MT5 goes with the majority of the
comparative place features as MT4, notwithstanding extra limits and new
features. It is a moving trading platform suitable for proficient brokers. MT5
is open as a WebTrader, mobile applications for Android and iOS gadgets, and
desktop applications on Windows and MAC OS.

MT5 offers profundity of Market apparatus, which shows the degree of
liquidity accessible in the market. It underpins the utilization of MQL5 to
content module applications and has EAs for computerization of techniques.

One can send multi-cash technique tests to backtest EAs over verifiable
data. MT5 Allows upwards of 100 charts to open all the while.

MT5 offers merchants with complex charts with three chart styles,
displayable more than 21-time spans. The platform contains 38 technical
indicators that can be used by brokers for inside and out investigation. MT5
likewise accompanies the financial schedule and offers value ready warnings
offices to the clients.

NinjaTrader

The NinjaTrader platform
launched in 2004 is intended for dynamic Forex trading. While the platform
offers progressed charting, mechanized technique advancement and exchange
reproduction, the individuals who wish to execute exchanges from their platform
must buy a lifetime permit or rent the platform on a quarterly or yearly
premise.

Besides, NinjaTrader
acts fundamentally as the trading platform and isn’t a market information
supplier. It implies to get end-of-day or ongoing business sector information;
clients need to interface their platform to one of the market information
suppliers.

cTrader Trading Platform

The cTrade is a prominent multi-resource Forex and CFD trading platform.
It offers rich charting instruments, propelled request types, level II valuing,
and quick section and execution. It has a splendid UI supported with modern
backend innovation and is accessible on various gadgets. The cTrade additionally
offers the chance to broker to fabricate algorithmic trading robots to
computerize their trading procedures. One can likewise build up their
application utilizing cTrader’s Open API.

eSignal Trading Platform

The eSignal trading platform centres around cutting-edge dealers that
appreciate completely customizable highlights. The platform offers all the
standard highlights expected of a cutting-edge trading platform. Clients can
make their trading techniques or market screeners through the coding language.

The platform offers pushed drawing instruments, for instance, time and
worth squares and Gann boxes. It gives the capacity to see up to 500 images one
after another. Nonetheless, to get to spilling and continuous information takes
care of, merchants need to associate their platform with one of ESignal’s
bolstered specialists. It implies that clients should rent the platform from
eSignal for a month to month or yearly expense.

ProRealTime Trading
Platform

ProRealTime is a technical analysis and trading software that has
815,422 clients around the world. With ProRealTime, one can exchange 580,985
monetary instruments. The platform is remarkable as it is a web-based software
supported by the organization’s cloud environment.

The platform itself offers a broad scope of cutting-edge charting and
analytical instruments. It provides the capacity to make altered market
scanners and trading procedures utilizing their ProRealCode language.
Notwithstanding, clients must compensate for software permits to use the
platform. On top of this, there are extra charges to get continuous market
information.

MetaStock

The trading software
applications, MetaStock, provides more than 300 technical indicators. The
platform offers work in drawing tools like Fibonacci retracement to complement
technical indicators and incorporated news. It additionally furnishes central
information with screening and sifting rules, and worldwide markets inclusion
over different resources. The MetaStock Daily Charts Subscription and MetaStock
Real Time bundles incorporate its exceptionally adulated stock charts software.

Closing
thoughts

101Investing
provides traders with the Metatrader 4 trading platform. 101Investing is operated by FXBFI Broker
Financial Invest, LTD with registered office at 79, Spyrou Kyprianou Ave., MGO
Protopapas Building, 1st Floor, 3076, Limassol, Cyprus, regulated by CySEC,
license number 315/16. The Company Registration Number is 351508.

Clients can perform a commission-free exchange on more than 250+
CFD instruments covering Forex, cryptocurrencies, commodities, stocks, and indices
from four core types of trading accounts called Silver, Gold, Platinum, and
Pro. The broker likewise offers Islamic swap-free accounts and demo trading
accounts.

The broker provides educational materials such as webinars,
instructional exercises, articles, and courses. One can access the economic
calendar and earnings calendar on the broker’s site.
For bank trade ideas, check out eFX Plus