Find the best forex trading platform to trade currencies at ease! The best forex trading platform will discuss in this page because a reader of Daily Investing Tips is quiet curious which trading platform he should use. A trading platform is the one that a trader execute trades (buy and sell) forex. Forex trading is not scam, some forex brokers and other people who take advantage of forex trading are somehomew become illegitimate and scammers
The are many forex trading platforms available for forex traders. A good forex broker allows their traders to use the following trading platforms; Meta Trader 4, Meta Trader 5, Web Trading Platform, Broker Trading App.
Best Forex Trading Platform – Meta Trader 4, 5 or Broker’s Trading App?
Meta Trader 4 Forex Trading Platform
Excerpt from Wikipedia
“MetaTrader 4, also known as MT4, is an electronic trading platform widely used by online retail foreign exchange speculative traders. It was developed by MetaQuotes Software and released in 2005. The software is licensed to foreign exchange brokers who provide the software to their clients.”
This is one of the popular forex trading platform. Since it was released on 2005, there are many traders who use this trading platform especially for forex traders who prefer automated trading. Many expert advisors aka Forex Robots have been developed and only suitable for Meta Trader 4, aside to that MT4 forex trading platform is user friendly.
Meta Trader 5
Excerpt from MetaTrader5.com
“MetaTrader 5 is a free application for traders allowing to perform technical analysis and trading operations in the Forex and exchange markets.”
Meta Trader 4 and Meta Trader 5 have similarities but of course some advanced features for Meta Trader 5. One of its good feature is that you can drag the stop loss and take profit after you take an entry. Or just input the stop loss or take profit in the platform while you are entering a trade without using the price instead use number (say 100 pips).
Web Trading Platform
If you prefer to use the web when you trade, just visit the website broker and find out how can you access their platform using web by giving you exactly the URL address of the web trading platform.
Recommended for forex traders who prefer not to isnatll anything on their phone or personal computer is using a web trading platform. However, web trading sometimes is just a use of MT4 or Mt5 by accessing the platform on the web only.
Broker’s Forex Trading App
A good broker should have its own trading app for its traders. I think almost all brokers has their own trading platform apps that can installed in android phone, windows phone, IOS phone, smartphone.
Forex traders prefer to install Mt4 or Mt5 in their phone and just use the login details in their phone app. In my case, when I trade forex, I will use the personal computer when reading charts, sometimes I access the web to analyze forex charts and then enter a trade using mobile phone.
So, the best forex trading platform is Meta Trader 4, you can install it in personal computer, laptop, android phone, smartphone, IOS phone and trade anywhere and anytime.
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