Foreign exchange (Forex) trading is done online through an electronic trading platform. Many investors will question which platform is best. Currently, each platform has different pros and cons, they also depend on intended use. Speaking of Exness trading platform used by MetaQuotes Corp, we will cover MetaTrader 4, MetaTrader 5, WebTerminal, MultiTerminal products in article below.
MetaTrader 4 Platform (MT4)
MetaTrader 4 platform or MT4 for short is released by software development company MetaQuotes. MT4 is one of most popular forex trading platforms in world and is used by millions of traders globally. Simply because this trading software is very easy to use and very suitable for traders who are just starting to trade forex. MT4 platform offers 30 built-in technical indicators, along with over 2000 other free technical indicators, which you can download from various internet sources to use.
| Main features of MT4 | System Requirements |
|---|---|
| Work with Expert Advisors, built-in and custom indicators 1 Click Trading Technical analysis with over 50 indicators and charting tools Processing a large number of orders Change different custom and choose many different time frames. Historical database management and historical data export/import Ensure full backup and data security Internal mailing system Using .mq4 . programming language Mobile Trading for Android & IOS Web-based trading for Windows, Mac, Linux operating systems | Operating System: Microsoft Windows 7 or later Processor: Intel Celeron-based processor, with a frequency of 1.7 GHz or higher RAM: 256 Mb RAM or more Storage: 50 Mb of free disk space |
MT4 Exness trading platform also allows traders to execute different types of orders to suit market condition or trader’s trading style. Platform also allows traders to test trading ideas and strategies based on historical data through MT4’s historical data center. This, will be utilized by traders who specialize in programming code to build their own automated systems.
MetaTrader 5 – (MT5)
MetaTrader 5 platform is an upgraded version of MT4 platform, it offers more functionality. Such as ability to execute more order types and view market with more timeframes. This MT5 platform is suitable for more experienced traders, more here in terms of programming by building automated trading systems (EAs) and selling products on MetaTrader Trading Market ( MetaTrader Markets).
| Main features of MT5 | System Requirements |
|---|---|
| Multi-asset platform for over 1000 instruments: trade stocks, bonds, forex, indices, commodities, etc. Ability to display 100 charts at same time. Supports all 8 order types, including market orders (Buy, Sell), limit orders (Buy limit, Sell limit), stop orders (Buy stop, Sell stop), combined orders (Buy Stop Limit, Sell Stop) Limit) Over 80 Technical Indicators and 40+ Analysis Objects Using programming language .mq5 Mobile Trading for Android & IOS Web-based trading for Windows, Mac, Linux operating systems Internal mailing system Multi-currency checker and alerts | Operating system: Microsoft Windows 7 or later, 64-bit version of Windows 10 is recommended. Processor: SSE2 support suitable for all modern CPUs (Pentium 4 / Athlon 64 and above) |
Other hardware requirements are platform-specific (e.g. load from running MQL5 applications, number of active tools and graphs). But you don’t need to worry, almost any device can be used today.
WebTerminal – trade without downloading
WebTerminal (WebTrader) is a trading platform that allows traders to trade directly through a web browser right on Exness’s website. This is an option that will probably please traders who don’t want to download and install trading software to their computers. WebTrader Exness platform is a stripped down version of must-install software platform. However, it only provides some of most essential features, and an advanced tool will not be there.
Main features of WebTerminal (WebTrader)
- Accessible without download – PC and Mac OS.
- One-click trading
- Selection of time periods on History tab
- Active orders displayed on chart
- Close by and many requests to close by transaction
- Editable properties of graphic objects
MultiTerminal – Manage multiple accounts
MT4 MultiTerminal version is an advanced platform that will be useful to trader who trades with multiple accounts. This platform is best suited for traders who use multiple accounts to trade on multiple products, or manage other people’s accounts.
Currently, Exness does not support this type of software. But, in return traders can use a Social Trading Exness (also Copy Trading) platform similar to MultiTerminal.
Which Exness trading platform to choose?
As we mentioned above, MT4, MT5, WebTerminal trading platforms are all provided by Exness for customers to use, except for MultiTerminal. Often beginners, or hobbyists with it will choose MetaTrader 4 and MetaTrader 5 tend to get more positive reviews, because of its better programmability. Not only that, if you feel unfamiliar, they are available to use on a free demo account and practice on it.
Each of above trading platforms has different functions, along with their advantages and disadvantages, for average trader as long as they are suitable for different types of traders.
