What is MetaTrader?

[onemind]

Hi,

I come from a stock background and used amibroker for my tech analysis. I was searching for something similar for forex and came across metatrader.

Its hard to determine from the site what it is. Is it an actual live trading platform or is it stand alone software for charting? I downloaded it and it seems to me like charting software but dont get what the demo account is.

It is giving me free live price data and letting me use the software without restrictions. What do you get if you actually pay?

Anyone use this or are there better forex charting programs out there?

Thanks for any info

[n_aftab]

hi mate

its really 2 things

I use it for its charting, but i do not trade with it.

some of the brokers use it as their platform to allow you to trade with, but in that case you would download their version and connect to their servers.

It is similar consept to VTtrader which again is a charting package used by a some brokers as their platform.

So the demo account you have is similar to mine,\ it simply allows you accessto the charts if you look on the bottom right hand corner you will see who you are connected to. If you want to trade with it i'm sure you can find a broker that uses it.

N

[onemind]

Cheers N

Is it a popular charting package for forex? And if so, is this just because it is free? How reliable is the historical data?

And are there better forex charting software out there? Dont mind if their commercial because i am looking to set up a forex historical database and need a decent charting program for back testing ect.

Thanks again

[n_aftab]

Hi again

Its quite commonly used.

I've never had a problem with the relialbility, i often compare charts to saxobanks, just to make sure saxobank arent playing games!!!

As for other charting packages i'm going to have to leave that open,, ive always used saxo banks charts and metatrader.