Which one do you use and why? I am confused majorly between the first 2 but still open to other suggestions too, thanks.
I use MT5 because it offers me all I need to see. Once I learnt how to action the platform properly, a few times enquiring how to do this or that, it sits comfortably on my laptop.
My latest query to IC markets was how do I open the DAX index - that’s if you have it - as it was not shown on my market watch tab. Simple solution, just right click on market watch and then pan down to ‘show all’ tab. Dozens of exotic trades which I never knew existed…Same on MT5 FP markets.
And if you right click any time frame on the bar above the chart, you’ll get a menu with a customise option to tick. On my IC & FP Markets 12 TF’s, there are nine additional TF’s you could use. Good for scalpers.
Basically, if you were a fan of Windows 98 use MT4/5. If you want a lot more functionality in a Platform unlocked by the power of Windows 10 have a look at Ctrader 4.0…
Though I personally prefer mt4, but I have used the Acttrader and I kind of like it as it is more customizable and user friendly.
Isn’t the time frames to do with the trading platform? Or do different brokers offer different ones?
Is acttrader a common platform?
To clarify. The bar above any chart shows various time frames, from M1 to Monthly. This is the initial platform set up. When you download MT5 on a live account, about 9 different time frames are included.
What isn’t included are several more TFs, mostly minutes used by traders for scalping, if you wish to use different chart time frames.
For example I scrapped 4hr but included 3hr instead. Others could include 2m, 3m, 6m etc.
However, on demo MT4 /MT5 accounts some brokers don’t provide the whole set. Why? Probably because they don’t want to encourage demo scalping traders who clog up their system network with dozens of trades.
So what I understand is that brokers don’t want traders to scalp! Aren’t the servers advanced enough to handle that kind of thing? I’m a little surprised here to be honest
Brokers want traders to scalp on LIVE accounts. That’s where they make their money. To be fair, IC Markets provided me with a daily account and a monthly account throughout my 8 month demo experiments. But I wasn’t scalping big time…
IC market’s no doubt a good option but the only problem I’ve faced with it is that they carry a very restricted, or to put it in a better way, ‘limited’ portfolio. I had to go for Fidelity investments because IC doesn’t include stocks.
ICM Global has a huge list of US Stock CFDs on Nasdaq and NYSE. same with bonds, metals, coins etc etc. In fact it’s got a huge list of everything.
On a LIVE MT5 account, maybe also MT4, that is. Open Watchlist, right click, and tick the 'Show All in the middle list menu.
First of all, congrats on the username. Not that I’m stalking you, but your profile does seem professional. (No you’re not wasting your time posting facts and figures) Going out on a limb and guess that your fundamental analysis game is tight. And that’s my weak point. How long have you been trading? Wanna be my TWB?
Depends on what you are looking for.
MetaTrader has more custom indicators and EAs in their Store.
cTrader has some as well on ctrader.com, but not that much.
cTrader has a better design and user experience with nice trading from a chart, close all positions button, etc. Also it has much more timeframes built-in (tick bars, Renko, and Range bars).
If you want to start developing your own EAs, definitely go with cTrader. It has a popular and easy-to-use C# language and you can use Visual Studio for development. It is much better compared to proprietary MQL language and MetaEditor used in MetaTrader.
I’m hooked on to ctrader these days. The tools and indicators are so cool and in fact the C# programming language is also very easy to understand. Nothing complicated which makes it easy to trade. Did you try the dot chart offered?
I’ve heard that the charting options over different time frames is offered for trading forex, commodities, indices, bonds, and other ETF’s? Are they any good?
Should a newbie go for acttrader instead of MT4 then considering all those benefits? All the experienced traders I’ve spoken to have suggested MT4 but if acttrader is better than this, I guess this is a better platform to begin with.
I like the Metatraders and their user-friendly interface. Acttrader seems too complicated to me.
I know lots of new platforms are springing every now and then but I’m still comfortable trading with metatrader. The easy and user-friendly interface helped me make some good trades when the market was highly volatile.
I had some problems a few months back on my turnkey forex platform and needed expert advisors to automate the trading. That’s when the customized EA algorithmic trading helped me to the core. Once it became easy, I could customize and use EAs easily with oanda too.
No it is not very common, a few brokers are offering it. You should definitely check it out. You can change the skins, build custom strategies, create a whole new personal workspace there is a lot more that I still need to explore.
Aren’t there commissions high for scalping?