What is the best trading platform?
To trade well, you need a good trading platform. This article answers the following questions:
- On which trading platform to trade?
- Which is the best forex trading platform?
- Which is the best CFD trading platform?
- Which is the best trading platform for beginners?
- Which is the best trading platform in Australia?
- Which is the best free trading platform?
- Overall, which is the best trading platform?
At Admiral Markets, we have chosen to work with MetaTrader 4 and MetaTrader 5, two of the best trading platforms in the world, chosen by many brokers. If you want to test these two platforms, you just need to open a demo account and see for yourself!
MetaTrader 4 – The most widespread forex and CFD platform
MetaTrader 4 (also known as MT4) is a reliable and stable forex trading platform for forex and CFD trading. With more than a hundred thousand users for more than ten years, it is the most popular investment platform and considered by many to be the best forex trading platform.
Moreover, it is a free platform which allows anyone to access stock market prices, as well as commodity or even crypto currency prices!
MT4 is also an excellent forex technical analysis software, providing you with many forex technical indicators and oscillators (more than 50) and other advanced technical analysis tools.
The MT4 forex platform offers different types of orders. Indeed, on top of market execution orders, pending orders can be open such as:
- Buy limit
- Sell limit
- Buy stop
- Sell stop
Other types of orders (OCA or OCO) are also available with the Supreme Edition of MetaTrader 4 (see below). All these features and types of orders make MT4 a real trading tool and a professional forex trading platform.
You can download the MetaTrader 4 trading platform for free here.
MetaTrader 5 – The most complete CFD and forex platform
MetaTrader 5 is a multi-market trading platform for trading forex, equities, futures, and CFDs.
One of the main differences between the MT4 and MT5 trading platform is the fact that MetaTrader 5 is an equity trading platform and not just forex or CFD one!
Thanks to the "Depth Of Market" tool and a separate order and position accounting system, the MT5 trading platform represents a powerful trading system. It supports two accounting systems:
- The traditional compensation system
- The hedging system
The platform supports all types of orders, such as :
- Market execution orders
- Pending orders
- Trailing stop orders, which can be executed according to four modes:
- On request
- Market price
- On execution
In terms of technical analysis, MetaTrader 5 goes even further than MetaTrader 4 with more than 80 technical indicators and analysis tools, up to 100 currency pairs and shares, and 21 time frames available.
Besides, equipped with the MQL5 programming language, the MT5 trading platform offers you the possibility to create your own indicators.
If you have limited time to trade, MetaTrader 5 also allows copy trading! To do so, simply choose one signal provider among the hundreds available, and the platform will automatically trade for you.
To go even further in automatic trading, MT5 offers trading robots (expert advisors) that trade for you by analyzing quotes and performing trading analyses based on their underlying algorithms.
All these features and many more make MetaTrader 5 one of the best trading software available.
You can download the MetaTrader 5 trading platform for free here.
MetaTrader Supreme Edition – Free trading plugin to optimize MT4 and MT5
The Supreme Edition of MetaTrader is a plugin available for the MT4 and MT5 trading platforms that further enhances their capabilities.
MetaTrader Supreme Edition offers tools for forex and CFD trading, such as:
- Sentiment trader
- MetaTrader Mini Terminal
- MetaTrader Trade Terminal
- MetaTrader Connect
- MetaTrader Tick Chart Trader
- MetaTrader Indicator Package
- MetaTrader Trading Simulator
- MetaTrader Mini Chart
With the Supreme Edition of MetaTrader 4 and MetaTrader 5, opening and managing your trading positions is easier than ever, thanks to:
- Predefined stop losses
- Predefined take profits
- Predefined trailing stops
- An integrated margin and lot size calculator
- A model for OCO and OCA orders
MetaTrader Supreme Edition also provides you with a real-time economic calendar (with the Admiral Connect tool), as well as powerful features such as the Sentiment Trader expert advisor (EA) and the latest technical indicators.
On the chart side, MetaTrader Supreme Edition offers a Tick Chart Trader and different types of charts such as Japanese candlestick or line charts. Finally, with the MetaTrader Mini Chart indicator you can see several frames and chart types on a single chart (renko, kagi, and others). Moreover, you can display specific time frames such as the 2-minute or the 12-hour.
The Supreme Edition plugin makes the MT4 and MT5 trading platforms even better for you. You can download the MetaTrader Supreme Edition trading platform for free here.
How to download MetaTrader Supreme Edition
The best thing is to see it in images!
MetaTrader WebTrader – Online trading platform
Whether you are a frequent traveler looking for the best country to trade from or simply a nomad trader who needs to connect from anywhere, MetaTrader WebTrader is probably the best trading platform for you.
With this web interface, you can use the basic features of the MT4 and MT5 trading platforms directly in your browser from anywhere and on any operating system. Moreover, it is one of the few forex platforms available for iPhone and Android smartphones.
You can trade the forex market as well as other markets, and benefit from basic technical analysis tools such as Fibonacci retracements, and 9 time frames.
With MetaTrader WebTrader, you can also use the following types of orders:
- Market execution orders (Buy / Sell)
- Pending orders (Buy limit / Sell limit)
- Stop orders (Buy stop / Sell stop)
- Stop loss orders
- Take profit orders
As you can see, the MetaTrader WebTrader's interface is similar to those of the MT4 and MT5 trading platforms, and you can connect to it with your existing trading account.
All these features, including mobility and simplicity make it the best trading platform for retail traders on a web browser. You can connect to MetaTrader WebTrader for free here.
Stock market platform – Trading platform comparative
Now that we have been through several trading platforms and tools, let's see together what is the best trading platform, the most suitable for you!
MetaTrader 4 advantages:
- Easy to use
- Flexible trading software
- Reliable platform
- Fast and responsive
- Several languages available
- Advanced chart options
- MT4 automatic trading
- Available for CFD share trading
- Fully customizable
MetaTrader 5 advantages:
- Flexible trading system
- Professional technical analysis
- Fundamental analysis
- Trading signals and copy trading
- Mobile trading
- Algorithmic trading
- Available for equity trading
- Virtual hosting (VPS)
MetaTrader Supreme Edition advantages:
- New MT4 and MT5 trading tools
- Efficient management of your forex account and all your orders
- Tick charts
- Real-time economic calendar
- Latest indicators
- Trading simulator
- A single chart for several time frames and chart types
MetaTrader WebTrader advantages:
- Mobility, trade from anywhere
- Secure trading every time
- No installation / no download
- Launched in a few seconds
- On PC, Mac or Chromebook
- Trouble-free connection
Trading tool – The MT4 vs. MT5 trading platform comparison
To go further, let's look at an in-depth comparison between MT4 and MT5:
Policy for partial filling of orders
Order filling policy
Filled or canceled
Filled or canceled
Immediate or canceled
Types of pending orders
Hours (stock market data)
Transfer of funds between accounts
Integrated MQL5 community chat
Forex / CFD
Forex / CFD / Futures / Options / Shares / Bonds
Choosing the best trading platform
Here are briefly the categories of trading interfaces you may be looking for:
- A trading platform for beginners
- A professional trading platform
- An ECN trading platform
- An English trading platform
Usually, the majority of people tend to choose the free options when it comes to trading platforms.
You still have to be aware that a free platform will probably be less elaborate than a trading platform that you have paid for.
That being said, in the field of free trading platforms, MetaTrader is one of the market leaders in terms of efficiency, robustness, and experience. Just take a look at the forums dedicated to the MT4 or MT5 trading station to find out!
Moreover, MetaTrader is evolving with time, giving Admiral Markets the opportunity to offer you a professional plugin with many advantages both in terms of technical indicators and expert advisors who will assist you in your daily trading. This is, of course, the MetaTrader Supreme Edition Plugin!
What does the best trading platform look like?
It is known
Of course, you must choose a well-known trading interface that is efficient and reliable. It should be noted that Metatrader has been in existence since 2002 and has since been used by millions of traders around the world.
It is intuitive
A good platform must be simple and intuitive in its daily use! You should have no difficulty understanding the basic operation of the interface and the most basic trading tasks.
It offers access to many trading products
Even if you are not yet trading several types of markets, it is always more advantageous to pick a trading platform that can give you access to a wide range of markets in order for you to diversify your trading such as:
- CFDs on stock market indexes
- Currency pairs (forex)
- CFDs on commodities (oil, metals)
- CFDs on bonds
- CFDs on crypto currencies
It works on multiple devices
The ability to use the platform on different devices such as Windows or Mac computers, tablets, or smartphones must be one of the main criteria for your new trading platform!
It integrates risk management tools
Traders can also be seen or considered as risk managers. That is why having a trading platform that focuses on risk management is a real advantage. Precisely on MetaTrader, the Supreme Edition plugin completes and guarantees compliance with risk management thanks to the automatic calculation of the position size (lots) according to the loss fixed in EUR or AUD by the trader.
It allows customization
Being able to customize the workspace and the tools is something that many retail and professional traders require.
All the elements of the forex platform must be customizable, regarding:
- The colors of the chart
- The resolution of the chart
- The colors and period of the indicators
- The different possible price representations
- The configuration of the platform
It offers fast and efficient market orders
Whether you want to enter a trade at the current market price or through a pending order, you must be able to execute your trading strategy as you want and in the way that suits you best!
The order execution is essential, especially for scalpers who need to be fast and responsive when trading. This is why another criterion in choosing your CFD trading platform should be the speed of the order execution on the trading software.
It protects your trading account(s)
The trading platform must also be able to host systems to protect your trading account, just as MetaTrader 4 and 5 do.
It allows you to create sound alerts (which can be received by email/SMS)
Whether you are a part-time or full-time trader, you probably need to be alerted in case of a major market move, or perhaps just to know when a particular financial instrument reaches a level you are interested in.
You can be informed of the evolution of a scenario or opportunity thanks to the customizable alerts available by email, or audio!
It enables you to trade from the chart
Trading from the chart is a real comfort for traders or technical analysts who study charts in search of great opportunities that match their strategy. Depending on the trading style selected such as scalping, day trading or swing trading, traders must be able to enter and exit the market as soon as they want to.
Let's face it: once our analysis is done and the opportunity confirmed, the sooner we get into the market to get the entry price we want, the better! That is why the ability to take trades quickly from the chart is highly important!
The MetaTrader Supreme Edition's Mini Terminal present on MT4 and MT5 allows traders to trade from the chart, in particular with pending orders for breakout scenarios which are very popular with range and trend traders!
It allows you to perform simple and complete technical analyses
The vast majority of traders use technical analysis, so it is essential that the trading platform you choose gives you the opportunity to perform complete technical analyses.
It authorizes the use of trading robot or expert advisors (EA)
Technological progress has enabled us to improve trading platforms but also to assist traders in their daily routine. Therefore, it is essential that the best trading interface offers an environment for programming and developing trading tools in order to assist the trader, and maybe automate specific tasks.
It works with VPS
Do you have an automated trading strategy?
There is nothing like a VPS server to be able to apply your trading strategy on your favorite forex pairs without having your computer turned on. This is perfect if you need to follow another activity while the execution of your orders is done in an ultra-fast and automatic way from your trading account.
It offers the possibility to open a demo account easily
The best way to find the trading platform that will suit you the best is to test them using a demonstration account. This way, you can see how it performs in a real environment, but without risking any real money.
Nothing replaces personal experience. Some platforms have excellent feedback from their users, but this does not mean that it will be the one that suits you best.
Who is the free MetaTrader trading platform for?
The MetaTrader trading platform is made for everyone, from scalpers to swing traders. It suits all trading styles and all levels of experience.
Let's go through the different profiles the platform is made for:
- Novice traders, who need to learn the basics of trading and perhaps start their training with swing trading, relying on robust and efficient tools
- Intermediate level traders who are starting to diversify their activity with day trading for example, and who need to be in an environment dedicated to analysis. Using the professional tools available in the MetaTrader Supreme Edition is a must
- Professional traders who complement their long and medium-term trading strategies with scalping, in order to smooth their performance day after day. This type of trading requires high-performance tools and ultra-fast order execution.
Which trading platform to trade with in 2019 – Review & Conclusion
We are now getting to the end of this article. Considering everything we went through, you should now be able to answer the initial question: Which platform to trade with?
As you may have noticed, we have shown throughout this article how MetaTrader can potentially be the best trading platform for you in 2019.
Nevertheless, you should keep in mind that there is no single trading platform that would meet the needs of all traders. However, there is a small number of trading stations that offer different functionalities and are adapted to different trading profiles.
- If you are looking for a trading platform for forex or CFD trading beginners, the MetaTrader 4 platform will probably be ideal for you
- If you are trading multiple markets such as forex, indexes, shares or bonds, then the MetaTrader 5 trading platform will also be appropriate
For more advanced trading, you can combine these two platforms with the MetaTrader Supreme Edition plugin, which will make them even better trading platforms.
Finally, if you are a nomad trader and need maximum mobility, you may prefer the MetaTrader WebTrader platform, perfect for travels.
Do not forget that we are at your side for every step of your trading journey, whether it is to answer your questions about the MetaTrader trading platform or about trading in general!
About Admiral Markets
As a regulated broker, we provide access to some of the most widely used trading platforms in the world. With us, you can trade CFDs, shares, and ETFs.