# 3 best MetaTrader 4 alternatives Test & comparison 2023

EToro is known for being one of the leading social trading platforms in the world due to the fact that they offer different services in which the community is largely involved. At the same time, this platform allows investors to trade CFDs, cryptocurrencies, stocks, indices, precious metals, commodities and many other instruments. Most retail investors and forex brokers like to consider MetaTrader 4. Although if you want to try out other trading platforms, you can look for the best MetaTrader 4 alternatives. We examine a wide range of features and evaluate forex brokers based on our own data-driven MetaTrader-specific variables.

Customers can make use of them and gain momentum in the brokerage industry. In addition, TradingView is an extensive choice of diverse securities that traders can invest in. Therefore, you can obtain more than 6,000 markets all over the world.

Metatrader Alternatives

Therefore, while there can be pros to using an automated strategy, traders must be aware of the pitfalls and know how to assess any strategy before using it to manage their investment capital. Today, MT4 and MT5 have extensive documentation, codebase, and articles to help developers create algorithmic trading systems. The MetaQuotes Language (MQL) syntax enables programmers to create automated scripts and trading systems. I’ve been covering the forex industry for over twenty years, and I always recommend choosing a forex broker that is properly licensed and regulated. Our proprietary Trust Score can help you find a regulated, trustworthy broker – click here to learn how it works.

ATAS is the top analytical and trading platform for order flow and volume trading. It consists of all the functions that you need for order flow and volume trading. Clients using metatrader alternative ATAS can benefit from a wide range of exclusive tools and indicators. CTrader has a simple configuration that helps people to get along with the platform without any trouble.

Does MetaTrader support copy trading?

Quantower® is a modern and high-performance trading platform developed for professional and retail traders. PTMC | Protrader Multi-Connect is designed for both professional and retail day traders or investors who want to trade stocks, options, futures, forex, ETFs, and OTC… There is a very high degree of risk involved in trading securities. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. When using MetaTrader platforms, such as MetaTrader 4 (MT4) or MetaTrader 5 (MT5), there are automated trading systems known as Expert Advisors (EAs), or Experts for short.

Thinkorswim, offered by TD Ameritrade, is highly regarded for its comprehensive suite of tools and features, making it a compelling alternative to MetaTrader. The platform excels in providing advanced charting capabilities, customizable studies, and a vast array of technical indicators, empowering traders to perform detailed market analysis. Thinkorswim’s paper trading functionality allows users to practice trading strategies without risking real money, making it an invaluable tool for both beginners and experienced traders. Furthermore, its seamless integration with TD Ameritrade brokerage services provides a holistic trading experience, offering access to a wide range of markets and asset classes. While both MetaTrader 4 and MetaTrader 5 have long been the go-to choice for many traders, it is essential to recognize that the financial industry is constantly evolving. New platforms are emerging with unique features, tailored to meet the specific demands of modern traders.

MetaTrader Alternatives

We do not provide financial advice, offer or make solicitation of any investments. Thus, the best trading platform for one broker might not be great for another. However, if we consider TradingView, ATAS, or cTrader, they are known to be the best MT4 alternatives. Although both offer various indicators and features, TradingView provides many indicators and functionality. Users have the option to fund and withdraw money from their accounts.

After almost two decades of success with traders and forex brokers, an MT5 and MT4 ban could be around the corner. There has been a lot of speculation about the reasons for the MT4’s removal from the App Store, the latest being a $1m crypto cyber scam, as reported by Forbes. Initially, it was claimed that the move was linked to the Western sanctions on Russia, but this claim has been refuted.

Is MetaTrader safe?

That platform provides a complete set of trade orders, including pending orders. Sierra Chart is a specialized platform designed for professional traders, particularly those engaged in futures and forex markets. With its robust analytical tools and direct market access, Sierra Chart provides a highly reliable and customizable trading experience. TradeStation is a powerful platform known for its robust technical analysis capabilities and advanced charting tools. Primarily focused on active traders and quantitative analysts, TradeStation provides a host of features for strategy testing, optimization, and automation. Consider the availability and functionality of mobile applications or web-based platforms offered by the alternative platform.

Full-fledged financial market trading is available on Desktop, Mobile (iOS and Android) and Web version of MetaTrader. Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.

What is an MT4 broker?

The number of indicators which form the default package of MT5 is 38, whereas it is several less for MT4. That means MT5 has more of the trend indicators and oscillators that MetaTrader users prize so much. There are also more timeframes available on MT5, with a default setting of nine (1, 5, 15, 30 minutes and 1 hour, 4 hours, daily, weekly, and monthly) and the option to create additional ones as well.

• Rather, they are the automated trading systems created by traders to execute a trading strategy.
• Rather, it is third-party software that brokers offer to their users, with all trades being conducted through the broker.
• Given the radical changes the online brokerage sector has undergone in recent years, how can a platform first released in 2005 still dominate the market to such an extent.
• Furthermore, its seamless integration with TD Ameritrade brokerage services provides a holistic trading experience, offering access to a wide range of markets and asset classes.
• However, depending on the broker, MT4 often comes with a range of other symbols — such as CFDs on indices, commodities, futures, energies, and metals.