Trading platforms are an integral part of today's online forex trading。This article will discuss some of the most popular platforms, including online platforms, Metatrader 4, Metatrader 5, cTrader, and SIRIX。

Trading platforms are an integral part of today's online forex trading, they essentially connect brokers and clients, enabling forex traders to get quotes, real-time charts, execute orders and other additional advantages。With the advancement of technology, forex trading platforms have also become the object of competition among forex brokers。

In this context, understanding the various Forex trading platforms in the market is necessary to improve the quality of trading.。The 5 most popular Forex trading platforms are:

1. Online platform: accessible in the browser, so traders do not need to download and install any applications。
   Metatrader 4: the "standard" trading platform used by most traders worldwide。
   Metatrader 5: A more advanced version of MetaTrader 4 for trading in more diverse markets。
   cTrader: Complex Platform with Depth of Market (DoM)。
   SIRIX: dedicated to social traders。

We will explain one by one in this article。

Online Platform

The web platform is the oldest online trading system and later developed into installable forex trading platform software。The advent of online platforms has opened up unlimited possibilities for retail investors to trade online forex easily, instantly, anytime, anywhere。Before the advent of online platforms, forex trading was quite cumbersome and required manual redemption or payment by bank transfer.。

After registering with a certain forex broker and receiving confirmation of username and password, forex traders can access the web platform like any website on the web。The function, appearance and performance of the network platform itself may vary between different forex brokers.。

In general, the main advantage of the network platform is that it can be accessed from any PC without having to download any software first, so forex traders can truly trade anytime, anywhere。In addition to this, web platform functions are usually simpler than general forex trading platforms and include similar analytical tools。

To this day, some forex brokers still offer web platforms as an alternative, although they may already offer other types of forex trading platforms。Online platforms are also a favorite of binary options brokers, and more and more binary options brokers use online platforms instead of paying to use externally developed software or spending effort to build internal software。Some Forex brokers that still offer online platforms include XM Webtrader and Exness Webtrader, among others.。

Metatrader 4

Metatrader 4 (also known as MT4) is undoubtedly the most widely used Forex trading platform. It was developed as software by Metaquotes Software Corp, released in 2005, and then licensed to Forex brokers, which then customized it for customers.。

Just like online platforms and other forex trading platforms, forex traders can track quotes and movements on charts, as well as analyze indicators and execute orders using a variety of technical。However, the advantage of MT4 is that it is the best in the development and application of automated / algorithmic trading。

Automated trading in MT4 can be developed by brokers, traders themselves, and third parties.。MT4 enables Forex brokers to signal their clients through the platform, but the installation of third-party expert advisors / robots and custom indicators is also very simple。Best of all, every trader can build their own automation system using the MQL4 programming language。

Unlike the online platform, which is only accessible via PC / MAC, MT4 is more convenient and can be used in PC and mobile versions of almost all operating systems. These advantages make it a favorite of Forex brokers and traders, with few exceptions (Japanese brokers and traders are reportedly less interested in MT4)。Visit the broker you want to join, they are likely to offer you MT4 trading platform。

Metatrader 5

Metatrader 5, aka MT5, developed by Metaquotes Software Corp and officially released in mid-2010, is expected to replace the legacy MT4 with its various added advantages。MT5 has many features that MT4 does not have, such as 21 time frames (instead of 9), independent economic calendar, integrated market, etc.。

However, Forex brokers and traders seem reluctant to adopt the new platform, with many preferring to stick with MT4 for two reasons:

• Expert advisors and custom indicators built with MQL4 do not work in MT5 and must be rewritten if the trader wants to use the same system。As a result, the investment and effort spent building automated exchanges in MT4 may be wasted。
  MT5 is set by default in accordance with the U.S. regulator's NFA rules, excluding hedging and implementing a first-in, first-out (FIFO) rule, which contradicts the strategies of many traders and sometimes offends people just because it is set in accordance with NFA rules。

Due to this situation, a large portion of MT5 users are new traders and Metaquotes is having a hard time maintaining MT4 with updates that include MT5 features, some Forex brokers that offer MT5 platforms include Alpari and IronFX。

cTrader

cTrader was built by Spotware Systems and launched in 2010 with cAlgo to support algorithmic trading。Spotware claims that cTrader's trading desk intervention is not possible and therefore guarantees improved direct market access for brokers and the trading experience for traders.。The advantage of cTrader is that it complements the lack of speed and execution accuracy of Metatrader。cTrader is usually available in multiple versions, including desktop, Android, iOS and online-based versions, and its unique features and clean appearance have made it a new favorite for traders。As a result, some Forex brokers have turned to cTrader and MT4, or MT4 and MT5, for their clients, which include OctaFX and Fibogroup.

SIRIX

SIRIX is the youngest Forex trading platform on the list, developed by Leverate。It lacks algorithmic trading capabilities and lacks some indicators, but it integrates social trading within the platform for the first time。Thus, it displays not only charts and necessary indicators, but also the trades made in the social trading system。
The Forex trading platform does not have a desktop version, but is user-friendly and can be accessed in web, mobile and tablet versions。In this way, SIRIX provides the freedom of a web platform, the ease of use of cTrader, and the advantages of social trading on one platform。

It has begun to gain a reputation among retail forex brokers and traders, with some brokers launching it as an alternative to known MT4, such as Forex Broker Inc and FXPRIMUS.。If you want to simply experience SIRIX trading, you can directly enter its official website for simulation without registering or depositing any funds。

In addition to these five, there are many forex trading platforms developed by forex brokers specifically for their clients, some of which are well-known including AGEA Streamster and FXCM Trading Station。Some brokers also offer designated platforms for certain accounts, such as PAMM。

Each Forex trading platform has its own advantages and disadvantages, in order to choose the one that suits you best, please consider the following points:

• What advantages do you want to have when you trade？
  Is the platform compatible with your computer / tools？
  Can you use it to trade effectively and smoothly?？

To know the answer, first try the simulation platform for testing until you are sure that you can use it proficiently。