Trading platform

[rexxer_0]

which is the best trading platform to practice in kenya

[flamingoproxy]

welcome to the forum!

the best trading platform to practice on (anywhere) is the same one you’re going to use later when you’re trading with real money

part of the purpose of practice on a demo account is to get used to the platform, so that when you switch from a demo account to a live account, that practice will have been useful and helpful and you won’t need to re-learn a new platform at the same time as having real money at risk for the first time - this is hugely important

this usually means you need to decide which broker you’re going to use before even starting on demo

in my opinion, the two best trading platforms to learn and practice on are cTrader and TradingView (both are very good, just choose either, according to whichever broker you like and trust offers one of those), but as a general principle anything that avoids using the one called MetaTrader is worth considering: starting off on MetaTrader is putting yourself under a big handicap and is quite a big part of the reason why so few people ever achieve success in forex trading

[VasilTodorov]

i think it is not important that where you live
if you are ready for trading real money then do it but if it is not your time then just choose a platform and trade on it demo for now
i think you shouldnot pay for plaftoms because you an find good free one like mt4 or mt5 but you have to choose at the end

[flamingoproxy]

@VasilTodorov

i think you shouldnot pay for plaftoms

i agree completely

cTrader is free

some good brokers (e.g. Oanda) have a free version of TradingView available which includes all the features of the top-of-the-range paid-for TradingView platform

wanting your platform to be free is not, therefore, a reason for using MetaTrader

[FranziskaSchulz]

Can you tell me some disadvantages of mt4/5? and at the same time mention advantages of using Tradingview?
or maybe, Just convince me to change my platform

[VasilTodorov]

that is right my friend
i will try the c trader because you say it is good

@flamingoproxy

wanting your platform to be free is not, therefore

i alway like free things flamingo, i try to spend less money in everything because i have to pay more important things
but here believe me, this is not just for money i like mt5 very good but i will try c trader and i will tell you how it is

[PeterBorren]

personally, i think where you live actually is not a matter, you can choose MT5 , from my first day of trading i have been using this platform and still its sounds very good.

[LauChoKun]

can you please tell me Forex trading allow in Kenya Govt ? i have a little doubt

[Peter_Siddle]

yes anyone can trade from Africa even kanya .

[flamingoproxy]

@FranziskaSchulz

Can you tell me some disadvantages of mt4/5?

i think i can answer you by giving you a link to a very short thread, and then a link to a single post (neither of them my own), but please click on and read the links inside the posts, as well as just the posts - they’re also important!

here’s the thread:-

Is Metatrader really necessary?

Is Metatrader really necessary or will your favourite broker’s in built charting software do the job? Is there any other charting software that people have had a better experience with (whether free or paid for) or is Metatrader really the bees knees?

and here’s the post:-

Scalping strategy to finish the year strong

Cyprus along with the Seychelles, St Martin, Grenadines Vanuatu all have loosely regulated Financial institution laws… Hotbeds for scams, money laundering and here one day, gone the next CFD Market Brokers… Yes, any Algorithm’s that are compiled (encrypted!), require Dll (Dynamic link library) access to your system can be a Trojan horse for all sorts of malicious logic, code and whatever else a hacker might have an interest in… [Robot(TimeZone = TimeZones.UTC, AccessRights = AccessRights.Fu…

@FranziskaSchulz

or maybe, Just convince me to change my platform

unless you’re an Oanda user (and can therefore use TradingView’s full, top-of-the-range platform without paying for it), i would look at cTrader, perhaps? it’s very, very good, widely used by real traders, and is free

[flamingoproxy]

@VasilTodorov

i like mt5 very good but i will try c trader and i will tell you how it is

pleased to hear it, Vasil

MT5 is a lot better than MT4, i must say … but it still doesn’t display all the indicators correctly, and doesn’t have renko bars or range bars or momentum range bars or any ATM (how do people trade without an ATM?!) …

[NaguibSawiris]

MT5 is a first choice for all kinds of traders even all professional traders choose this platform as their first option.

[flamingoproxy]

@NaguibSawiris

even all professional traders choose this platform as their first option.

hi Naguib, i don’t want to be rude to you, but what you said there is so hugely, totally wrong that there just isn’t a super-polite way of replying: as anyone who has ever worked professionally in any part of the trading industry, or even just any long-term successful independent trader will confirm, absolutely NO professional trader would touch MT5 with a barge-pole - the idea is actually ridiculous to the extent of being laughable!

no offense meant, but you just couldn’t be more ironically wrong, if you tried

[waltoncharles]

@rexxer_0

which is the best trading platform to practice in kenya

Mt4 and mt5 are free platforms to be used by traders. Doesn’t Kenya govt. allow Forex trading?