{"id":420035,"date":"2023-11-02T14:00:34","date_gmt":"2023-11-02T13:00:34","guid":{"rendered":"https:\/\/ftmo.com\/?p=420035"},"modified":"2023-11-08T17:16:39","modified_gmt":"2023-11-08T16:16:39","slug":"which-trading-platform-is-best-for-you","status":"publish","type":"post","link":"https:\/\/ftmo.com\/en\/which-trading-platform-is-best-for-you\/","title":{"rendered":"Which trading platform is the best for you?"},"content":{"rendered":"

The answer to how to choose the best trading platform is not simple, because here a lot depends on the preferences of the trader and the offer of each company. FTMO has been offering its clients the most popular platforms available on the market for a long time. Moreover, it is expanding its offer with a new web interface that further expands the options for the company’s clients.<\/em><\/p>\n

Choosing a trading platform is almost as important as choosing a broker or liquidity provider. It is a working tool that must be clear enough, but at the same time offer a number of necessary features and tools that make the trader’s job easier.’ How to choose the best platform for you? We will find out in this article.<\/p>\n

When selecting a platform, the trader should not focus only on marketing-interesting parameters. The number of tools or indicators available may sound appealing, but for someone who practices classic price action, it may not be necessary. It is similar to choosing a broker, where the number of instruments offered may not say represent the overall quality of its services.<\/p>\n

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FTMO offers its clients a choice of MetaTrader 4, MetaTrader 5 and cTrader platforms, with the addition of the new DXtrade web platform. This will further expand the options available to the company’s clients and offer another alternative to those clients who do not want or have the option to install the platform on their computer.<\/p>\n

Which platform is the most popular?<\/h2>\n

The most used platform among forex traders has long been MetaTrader 4 and this is also true for FTMO clients. This platform has been available to traders and brokerage firms since 2005 when, after several attempts, Metaquotes released a version numbered 4. The MetaTrader 5 platform from the same company appeared on the market in the second half of 2010, but it has not yet reached the popularity of MetaTrader 4. However, the number of its users is still growing. For example, within FTMO, the number of MetaTrader clients has increased by 46% since 2020, but the number of clients using MetaTrader 5 has increased more than 15 times. While the number of MT4 clients was 10 times the number of MT5 users in 2020, today it is already 1.5 times.<\/p>\n

cTrader is the newest platform with the most modern look and feel, but the number of its clients, even considering the prevalence among brokerage companies, is the lowest. Despite this, FTMO’s client interest in the platform continues to grow and has almost quadrupled since 2020.<\/p>\n

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DXtrade – the new web interface in FTMO’s offering<\/h2>\n

New among the applications that FTMO offers to its clients from the beginning of November 2023 is the DXtrade application from Devexperts, which launched this solution in 2020. This application will particularly suit clients who, for whatever reason, want to trade via a web interface so they do not have to install the application on their computer. Other applications also offer their own web interfaces, but these are often cut-down versions that lack some features compared to the full versions installed on the computer.<\/p>\n

However, DXtrade offers a full-featured solution through which traders can use various tools and add-ons, similar to other trading applications. An interesting feature that every trader will notice at first glance is the ability to customize the interface to their liking. It is up to the trader how and where to display the list of selected instruments, the chart, or the trading journal. Through widgets that the trader can place wherever he wants (drag and drop), he also has the possibility to make multiple interfaces according to his preferences and then switch between them.<\/p>\n

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The app offers traders classic chart editing and setup options, common timeframes on which traders can track price movements, and more than 90 indicators that traders can use in their trading. The selection of add-ons on the web application is very wide, and therefore the trader can try out many strategies and systems.<\/p>\n

Order entry is very well done, where we have the traditional Stop, Limit, Market, and also OCO (one cancels the other) orders to choose from. When entering SL and TP, the trader has the option to choose whether to enter the SL and TP value in pips, in percentage of account, in price, or in expected loss. At the same time, when changing one parameter, the trader immediately sees the change in the other three parameters, which means he does not need to use any calculators to calculate them.<\/p>\n

Of course, there is also one-click trading, where the trader executes a Market order and can adjust the SL and TP values later. An interesting option is to preset the SL and TP values for each instrument. When the trader places a one-click order, the order is automatically opened with the pre-set SL and TP values.<\/p>\n

You can see all the other tweaks of this app in the tutorial directly from Devexperts.<\/p>\n