Which Trading Platform Should you Choose?
At Trade Room Plus we recommend that traders use the MT4 platform as their main platform for forex and index trading of CFD and Spread bet markets.
Brokers all over the world use a number of different trading platforms and these platforms can vary between different brokers. Brokers generally have web based trading platforms, mobile apps and some have specific desktop versions. Many brokers have developed these platforms and each will claim to be better in some respect or another. We could try to do a long and in-depth review and comparison between the platforms but this is unlikely to help you become a more profitable trader. Profitable traders use a platform that enables them to get in and out of trades when they want. That’s all they need. And pretty much most if not all of the platforms will do this.
All traders expect to spend a bit of time learning to use a specific platform – and that is one of the main reasons for using a demo account. The problems traders face once they get used to a specific platform is that it tends to tie them to a specific broker and that is not always a good thing. Some traders are then reluctant to change brokers even if the service they are receiving is poor.
The MT4 platform is currently the most traded platform for forex and index markets globally and consequently nearly all brokers offer MT4 as either their number 1 platform or as an option separate from their own platform. Traders who use MT4 are therefore much more able to move from one broker to another without changing their trading platform.
This blog piece tells you everything you need to know about MT4.