Hello everyone. For almost 8 weeks I have been on a demo account with FXCM using the Marketscope platform. I have read a lot about Metatrader 4 which I downloaded today. I am attempting to set up Metatrader but don’t seem to find it as user friendly as Marketscope in setting up indicators and finding what I need. Is there a big difference between the 2? Any suggestions for a newbie?? Thank You.
See just start with MT4, its a proven platform which is used by many trader as its user interface is very good and convenient to use.
I use mt 4 to make trades because that’s what my broker uses but for setting up trades and analysis I like c trader
I have been using mt4. It is a good platform to trade and it is very simple to use.
Thanks everyone. I will begin to migrate and practice on MT4. Ironically, due to not having my home computer with me at work, I do much of my practicing on my iPhone FXCM app. I’ve become much quicker with my phone then my home computer.
What is c trader? what sre the benefits of this platform?
MT4 is the best for a newbie. It is easy to understand and work with.
As you progress and refine your strategy you can look at other platforms like ninja trader or tradestation to see if these may help with your performance at all.
I have same mind with you. For me, mt4 is good platform and I am using it as good choice for trading in any broker. I ever knew some other platforms beside mt5, they are mt5, jforex, streamster, and webtrading but the most comfortable platform is mt4 because almost all indicators can work in this platform and almost all scripts can be used in this platform too.
Zax, Sounds like you were not really happy with MT4 and got talked into it by others. Maybe you should think about it before following what others tell you. Some love MT4, personally I rather dislike it but in the end you really need to decide what is best for you and trade with a platform because many others like it.
C trader is good for manual trading. If you use EA then its better MT4. especially for newbies.
If you’re looking for slick and motley interface you won’t probably find it on MT4. It’s purely PRO traders platform with rich and full kit of trading tools including technical templates, signal integrations, backtesting means etc. Modern platforms go in a stride with current vision of interface and usability while MT4 were programmed on inception of usability PC design.
So take your time and learn it inch by inch. BTW it’s quite easy to use, got a clue on how to use it for several days…
MT4 is the most widely used platform by traders. You can find countless indicators if you want to use any of them and also there are 90% of trading systems that are mt4 based.
I use vertexfx for manual and auto trading,
Mt4 is a very comfortable platform and it is suitable for beginners due to it simplicity
I found MT4 easy for get me started and there many options available. For the mobile MT4 i can only use it to check or close my current trades !
I’m starter and I use only MT4 as well. It’s quite simple and I learned that MT5 is not much better actually.
I use mt4 because my broker offers it and i find it very comfortable .It is user friendly.
I also use MT4 as my tool for making money in Mayzus broker and Liteforex, I attach my scalping EA there and have been working to attracting my fund about 10K.
MT4 is quite bad actually, many brokers love it for a reason:
You should also read some of this in this thread
Eventually I will migrate all my accounts to either sierra chart or ninjatrader, MT4 is terrible for market orders and sometimes takes forever to get filled and I’m very suspicious of this mt4 plugin which was created by metaquotes which is the same company that created MT4. Sometimes is much better to spend some money and use a commercial platform and just pay for it than to use this garbage. I’ve heard that motivewave is actually a much better solution since they support most of the forex brokers out there like oanda and mbtrading and their price is much better than ninjatrader and it comes with a market replay feature which is very useful for newbies to practice trading after hours.
The good thing about MT4 is that a lot of brokers offer it, so you are not stuck learning different platforms every time you change brokers!