What do you guys think?
With MetaQuotes latest issues with third party providers, it seems that many traders/broker and third party providers seem to be getting fed up with MQ’s “monopoly” of the Forex platform market.
I have used MT4 for a while, as it’s the most popular platform out there,and I am generally quite used to it, but I was wondering if there are any new platforms out there that you think can start taking the mantle away? Is the way forward a more “open spurce” approach to platforms? ]
Traders will tend to want to use the popular platforms out there, and brokers will want to use the platform that traders want; so who needs to initiate a change then? I would think it should be traders, but then again, are we savvy enough and more importantly do we care enough to move to a broker solely because we prefer the platform? Or are we still bothered just about silly retail Market Making offers (bonus, high leverage etc.) to make the effort to change broker for the platform.
I have been looking a little at new platforms coming out more recently, such as cTrader and Tradable…do you think platforms such as these have enough to take a good share of the market from MT4? Do you think there are others out there which are more notable?
I’m actually quite interested to know what you think 
PS: If you are a platform provider rep or broker rep with 1 or 2 posts looking to make a fake post saying how your platform/broker is the best imaginable, please…don’t bother!
PPS: I made the same post on the platforms section, but then I thought the response might be better in this section as it’s more populated, so here we are…
I don’t think MetaTrader will be unseated any time soon. And I honestly don’t see traders moving away from brokers they have developed a trusting relationship with. I’d rather deal with a couple of weird quirks or nuances than go through the research process of trying to ensure the broker I’m dealing with won’t possibly rip me off in the future or screw with my money. To me, that’s more important than the platform.
I think an Open Source project has the possibility to do well but it would need a good, dedicated team to develop the basis and keep the core in a functional state. I know I use Open Office (an Open Source MS Office equivalent) and I love it. It’s fantastic.
So I don’t know. I guess it really depends on what is important to the individual trader.
Unless there is a trading platform that extremely superior to MT4, nobody will switch. The pain of learning a new platform and writing/finding new EAs is high. The pain of switching is so high most MT4 users didn’t even both switching to MT5.
Nothing will change in then near future, and it will never unseated in the long term, just since its too strong and gather too many traders.
That’s the thing, on one side having the right broker is crucial, so that is a consideration to be had, but on the other hand some traders don’t want to move to another platform because they perceive a difficulty there. Bearing in mind that anyone new to Forex won’t have these issues to start off with, they will go with whatever is understood as being “the most popular”.
So basically any change has to come from the brokers and/or the third party providers.
I’ve tried cTrader, and it seems pretty good and in a way not too different from MT4 in certain ways, so if you know MT4 it will take 15 minutes to learn cTrader, having said that it will depend on whether their coding langauage is easy for providers to use to create the EA.
Tradable looks very interesting, as it uses an App model with the aim of being able to customise the trading workspace with as many apps as providers create. Interesting model, just I don’t think it’s ready yet as the amount of Apps is not big.
At the same time, I can’t see us using MT4/5 in 5 years time…it was actually launched in 2005!
I think ctrader and Jforex are decent platforms. They have made MT4 very similar to dealbook. I would like MT4 to be unseated because I think that the way it processes orders is not efficient (queuing orders), but I don’t think that will happen anytime soon.
Interesting post as I am fairly new to Forex- I’ve been trying out Jforex and mt4. I must say, JForex is a really great bit of software. I’m no expert though! 
Problem with Jforex is that it is a proprietary platform, used basically only by Dukascopy…
It’s good to be able to have a choice of brokers IMHO
I’ve been using Jforex on FXDD and Everest Markets- I spoke with one of their representatives and they said they take their feed from Dukascopy. Guess kinda like a white label solution? :10:
Nope! Let AndyRoseFx himself/herself tell us the advantages his/her favorite trading platform has over the MT4. These advantages ought to be what Mt4 cannot offer.
Sorry, but I don’t understand what you mean by your post or it’s purpose.
I use MT4. I have been using MT4 for the last 3 years. It is by default my “favourite” platform. But at the same time, I was interested to know what else might be on the horizon. Especially as recently the issue that MetaQuotes has been having with third part signal providers ( Your Times Up ‘Mate a Trader’ – Says Platform Community | Forex Magnates) (there are more articles, but if you are interested you can look them up) has brought up the issue of MetaQuotes’ dominance but also inadequacy on certain levels. So the purpose of my questions was to see what other people thought on this topic, and also their experience with other new platforms out there. Who would drive a change, customers or brokers/providers?
It’s not only about offering something completely different, but also about whether there is something that can be done better. Not to be underestimated is also the impact that the recent shift to an increased amount of automated and “social” trading is having on the retail forex market in the last couple of years can have on technology providers in the forex world.
I thought forums are a place to exchange thoughts and ideas, not just somewhere to present one’s own.