Forex traders have a choice of which trading platform to use. However, this choice is interlinked with the choice of Forex broker, as not every type of trading platform is offered by every broker. Moreover, some brokers do not have true compatibility with certain Forex trading platforms, but offer access to them through a bridge, which is a piece of software that connects a Forex broker’s dealing system with the platform. This can work satisfactorily, but if the bridge malfunctions or is slow it can adversely affect trade execution and management.
The Metatrader 4 trading platform is very well known and can definitely be said to set the industry standard. I have never seen a Forex broker that does not either offer trading directly through the platform or through an in-house bridge to the platform, although this can be at the cost of a slightly higher spreads and/or commissions. The Metatrader 5 trading platform is somewhat less commonly offered, although it is produced by the same company (the Cyprus-based MetaQuotes Software Corporation). To understand why this is the case, we need to take a closer look at the platform. See our top MT4 Forex Brokers List & Reviews.
infographic by: www.dailyforex.com
