Every Exchange board needs some platform, through which the costumers can trade and interact with the brokers. So for forex trading one should need platform, in forex trading there are different kinds of platforms like META TRADER, NINJA TRADER, WEB TRADING PLATFORMS.
META TRADER:
The meta trader platforms were developed by MetaQuotes software corporation. Till now they had released two versions Meta trader 4 (MT4) and Meta trader 5 (MT5). Meta Trader is the most popular of all the FOREX PLATFORMS, meta quotes started in 2002 for developing web base platforms for worldwide trades. Day by day it started growing and in my opinion meta trader is the first thing the beginners use to learn in FX TRADING, 90 % of traders use meta trader and remaining use different kind of platforms.
Why meta trader is so popular, we can say its reach towards the people around the world. The design of the META TRADER is simple and very useful in every aspect and it requires very much less internet data to load and work. The forex brokers around the world provides MT4 and MT5 to their traders. Every broker helps the new traders and beginners a lot through Meta trader Demo accounts to understand the trading, Swap rates,market conditions, practising new techniques, different kind of strategies and number of trading systems.
The availability of the custom indicators in MT4 and MT5 is very high compared to other platforms. Most of the coders try to develop best indicators for the MT4. It is very easy to use indicators, shapes, trend lines and all other objective things available meta trader. Its expert advice, strategy tester, code editor, etc moves the Meta trader to next level.
NINJA TRADER:
Ninja Trader is a private trading platform that everyone can use by purchasing it. One can trade Futures, Forex, etc., on this Ninja platform. We can say ninja trader is Trading software with its own brokerage, yes company itself provides brokerage but in meta trader, individual brokers will provide brokerage services. All types of charting system like Line chart, OHLC chart, Candlestick Bar chart available in this ninja tarder
Chart in Ninja Trader
Ninja trader is US based company which had patent and all permissions, good number of people use ninja trader for forex trading but not as high as meta trader. This ninja software looks very different from Meta trader software. it is somewhat best in few features compared to meta trader like object availability for chart analysis is very high
NINJA PLATFORM is not as flexible as MT4 and MT5. People who don't like to trade with meta trader then ninja trader is good choice for them. Finally very good numbers of indicators were available in ninja platform for analysis and trading purpose. So, it is the second best platform after MT4.
NINJA PLATFORM is not as flexible as MT4 and MT5. People who don't like to trade with meta trader then ninja trader is good choice for them. Finally very good numbers of indicators were available in ninja platform for analysis and trading purpose. So, it is the second best platform after MT4.
CTRADER:
Spotware Systems developed this CTRADER this is designed and developed for Electronics and Communication (ECN) accounts. If you don’t like market makers and want to trade directly with the inter banks CTRADER is the best option for you they connect directly to the inter banks and no re-quotes. This Spotware cTrader shows Tick Volume charts where no other Platform is as accurate as cTrader
It has level II pricing, different custom indicators. The charting time frames are very different in ctrader, they provide 26 time frames like 1 minute, 2 minutes, 4 minutes, 5 minutes and so on. Every operation in this ctrader is done by cAlgo algorithm.
Trader who wants to trade with ECN market directly with inter bank rates they will definitely love this spotware ctrader
Trader who wants to trade with ECN market directly with inter bank rates they will definitely love this spotware ctrader