Forex Trading Platform
To trade forex, you must use trading platform. What is a trading platform? A trading platform is software, which connects a trader with a broker. Trading platform provides information in the form of market data in real time.Traders can place orders via trading platform and then those orders are executed by forex broker.
Here are commonly used trading platform in forex market:
MetaTrader (MT) is well-known trading platform, which was developed by MetaQuotes Software. It was released in 2005. Here's why MetaTrader is the most popular forex trading platform
Right now, there two version available: MetaTrader 4 and MetaTrader 5. MetaTrader 5 is just an improved version of MetaTrader 4, which was released in 2010. What To Choose: MetaTrader 4 or MetaTrader 5?
Some brokers will also provide a “multi-terminal” version of Metatrader which allows you switch between and trade multiple forex accounts.
MetaTrader available in Windows based platform, but some select brokers also offer Mac compatible versions of MetaTrader as well.
There are two MetaTrader client software versions that traders can use: Desktop and Mobile.
2. WEB BASED TRADING PLATFORM
Many brokers offer web based trading platform that allows you to trade via browser only. No need to download software. These web based platforms usually have less feature compared to MetaTrader, however, you should still be able to perform most basic Technical Analysis functions.
3. BROKER'S OWN TRADING PLATFORM
Some forex brokers also have it's own trading software. For example, if you open forex account here, you may also use cTrader application