Does a good proprietary platform equate a good forex provider?

Hi guys,

When comparing two forex providers - both popular, if one of them is providing a much better and proprietary platform, and the other provides an MT4 - not very good in quality and functionality compared to the proprietary platform, does this mean that the one that gives the proprietry platform is a much better service provider ? Is there any correlation ? Is there anything to the thinking that the effort put into making this platform is a factor that contributes to the authenticity of the forex provider ? Because, of all the demo accounts I tried, this one is better than most. And reputable ones are providing only MT4, where as this guy has - atleast from a user perspective - a much better UI and functionality.

Thank you

Nothing that I can adduce any evidence for (though it wouldn’t surprise me if the [I][U]non[/U][/I]-MT4 brokers were somehow, overall, “better”, but that’s perhaps only prejudice speaking, rather than logic).

I suspect that to a large extent it depends on your own preconceptions and beliefs.

My own starting point is that there are no circumstances under which I’d willing to use MT4 (or - by extension - a broker who offers [I]only[/I] MT4), so I instinctively look at anything else as a potential plus. Everything I’ve ever seen, used or looked at has a better UI and functionality than MT4.

301 Moved Permanently

Hey Lexys,

Tahnk you for the reply :slight_smile:

In my opinion no just because one broker offers a propriety system over MT4 it does not make them a “better” broker but I would be skeptical if a broker only offers mt4.

Some brokers will offer mt4 since it is popular but I agree with lexy’s bias on mt4 it is just not a very good system.

Now with the above said just because a broker has there own propriety system there are some thing to watch closely like how is this system being paid for? As such as all systems can be manipulated just mt4 is notorious for manipulation. Then from there its all a matter of preference for you the user.

That really depends on what you are looking for. Most brokers do offer MT4 so the brokers who don’t, definitely stand out which eventually makes them different. I am not sure if solely the offering of platforms is connected to the service quality as we all know that a good service is much more than providing a great platform. You could open demo accounts with these brokers and compare the platforms, executions, company policy and the overall services. I think that this will the best way to see which broker is the better service provider.