Lecture 3

Metatrader ⅘ + Other reputable trading platforms

There is many trading platforms out there some more reputable than others likewise to brokers, Most often people use the 2 main platforms Metatrader 4 & 5 which are very good each with pros and cons but all regulated brokers are partnered with them so it makes for convenient swift trading but there is actually a few other platforms that are good for other features including the ever famous TradingView which is unfortunately not paired with any of the Metatraders so you have to open a account with one of their own partnered brokers which we actually discussed in the previous lecture but let's take a closer look at a few different trading platforms and what makes them so useful compared to others. 

• Metatrader 4 
• Metatrader 5
• TradingView 
• Ctrader

Metatrader 4:

A Forex trading platform that was specifically designed for trading the Foreign Exchange Market that being said depending on your broker you can still trade crypto, indices, energy, stocks and equities with the MT4 trading platform. They are very reliable and often the most favoured platform offering a variety of tools like:

- Multiple Different Indicators

-1 Click Pair Trading

-Expert Professional Adviser Support

-Multiple Time Frames

-Easy to use platform

-Limit/Stop Orders

Plus much more! One of the main features also has to be focusing on the reliability as its not often that you wont find a broker that isnt paired with this platform allowing swift trading on various devices however that being said some disadvantages would be that some traders claim the application is actually slower on execution compared to others and it has also been brought up that some brokers widen their spreads on the MT4 platform compared to their own platform ect, All in all this trading platform is recommended.

Metatrader 5:

Compared to its predecessor Metatrader 5 is often overlooked due to how comfortable people got with the original application when switching to this one there was often things we and others preferred with MT4 but that doesn't mean it isn't a good, reputable trading platform being faster, providing more indicators plus a few extra features however nothing out of the park keeping it rather similar to the previous platform. Some distinct differences in the platforms would be:

- Over 20 Different Time frames

- Six Different Types Of Limit/Stop Orders

- It Actually Offers DOM (Depth Of The Market) allowing clients to see the bids and offers of different instruments

- Lower Spreads

- Able to Trade Higher Volume

In conclusion Metatrader 5 overall is a good platform providing many features and quicker trading executions with a larger volume trading allowance but all in all again it just comes down to preference on which platform out ⅘ you prefer as many people do stick to using the first platform MT4.

TradingView:

Underdog of the card a very popular Trading View has to be on our list due to how good this website/platform is, Providing not only in house charting for trades but you can enter idea forums with analysis + speculations, Enjoy the various indicators provided with live market rates and fellow traders from all across the globe.

- Indicator Alerts

- Trading Forums

- Interactive Charts

- Supports Stocks/Crypto/Indices/Forex

- Partnered Brokers

Overall this is also a great platform to use and has many features the only downside to using Trading View is the lack of brokers you can connect with being only supported by its personal partnered brokers this is why Trading View for us is at the bottom of the 3 but that does not brush aside how useful this platform can be for others it all depends on your own preferences so again we recommend checking everything out and seeing what you like.