What are Different Types of Forex Trading Platforms?


Trading Platform is the trading software on which trader trades, execute orders, does the market studies, chart analysis, auto trading with expert advisers. Different forex trading brokers offer different types of trading platform or software, from desktop to mobile version with a wide range of indicators. Here will enlist all different type of trading platforms.

Web Platform:

This is the web version of the trading software, it is very efficient for traders as it doe not require any installation of any application or software. You can start trading from your web browser. Just log in rate, all chart & trade quotation will be visible in your browser.

Top features:

  • No extra software download required.
  • Can be accessed from any device.

The only disadvantage is, this platform is for a basic level of trading, it does not include all indicators or custom indicators.

Metatrader:

Forex Trading platforms

This is the most popular trading software by MetaQuotes Corporation. It has two version Metatrader 4 & Metatrader 5. Metatrader 5 is the most advanced one for large capital traders, it supports future contract, stock, bond trading. Metatrader 4 is the common one widely used by most of the forex traders globally. Top features of Metatrader is, you can use a robot for auto trading and can use custom indicator. Metatrader Query Language (MQL) is listed in 33 among worlds top programming language. You can code your own custom indicator. Use Virtual Private Server(VPS) for automatic trading.

Top Metatrader features:

  • Programmable trading software, where the user can code their own custom indicators, auto trading expert advisors(EA), Libary and script.
  • With VPS trader run an automatic trading system 24x7, hassle-free. Trade get automatically executed by itself with your preset trade logic.
  • MetaQuotes Community to help traders. A trader can get technical support from the forum.
  • Buy Sell Custom indicators, EA Robots, scripts from the marketplace. Higher programmer to code your logic.
  • Copy trade signals from other traders.

CTrader:

Ctrader is another popular trading platform, widely used by all types of trader. With CTrader trader code their own indicator with C# programming language. Ctrader supports Tick Charts.

Top Ctrader features:

  • Tick Chart is available to view & trade from it. CTrader supports tick chart from 1 tick to 60 tick.
  • You can build your own application with Ctrader Open API.
  • With C# programing language
  • You can build your own auto trading system with coding.
  • Copy trade signals.
  • cTrader provides the industry’s standard FIX API trading interface with no cost.

NinjaTrader:

This trading platform mainly designed for Futures trading. The trader can trade currency futures with this platform. Paid platform.

Top Ninjatrader features:

  • Custom indicators are available, custom add-ons are available to install.
  • With the trading simulator, new traders can practice in live market, can test their trading performance. Trader can play, pause & rewind the markets.

FIX API:

FIX API stands for FIX(Financial Information Exchange) API(application programming interface) is the currently trending among high frequency traders. It is the most faster trading platform for large volume trading. Many brokers currently offer FIX API trading platform starting from $5000 deposit. The trader who are money managers, or have their own brokerage, FIX API is a suitable option for them.

Top FIX API features:

  • Light weighted & faster trading platform, unlike the traditional ones.
  • Can execute large volume trades with lower latency.

CQG:

This is a trading platform for sophisticated large-scale traders. Most advance trading software with varieties types of trading orders, limit orders like bracket orders, OCO, trailing limits etc. The broker who supports CQG generally provides liquidity from top tired banks with 5 level deep pricing.

Top CQG features:

  • Larger range of order types.
  • Can execute large volume trades with lower latency.
  • Direct Market Access to all global exchanges.