Why choose MT4 for automated trading

There are many trading platform available for trading of stocks, Forex, commodities and options. Choosing a good trading platform with features that enable you to automate the process is very important beside other common factors like charting, real time access and instant trade executions.

MT4

This is by far the most popular Forex trading platform in the industry and used by many of the top Forex broker like FXCM, Alpari, InterbankFX, Forex.com and many more. The list is endless due to its portability from desktop to hand phone and multi account trading. The software is easy to install and connect quickly to your trading account. The MT4 platform comes with customizable screens and windows. It features an easy to access buy and sell order form and comes with 50+ built in indicators.

The most importance features is the automated language MQL4 which comes with it, enables traders to formulate their strategy into programs thus trade automatic for them. The trading platform comes with intensive support and forum for newbie and experience trader who are looking to automate your winning strategy and gain passive income. Also comes with a strategy tester to back test your strategy with historical database currency prices.

Tradestation

Tradestation software is very popular among experienced trader as compare to MT4 which is more commercially popular to every day house hold trader. This software comes with built in indicator and customizable screens and windows. Also able to multi trading different account and comes with program EA for adding on to your trading account. The easylanguage programming is similar to MQL4 from MT4 but built upon using structure text or plain English instead of C programming jargons. This allow trader to easily automate their strategy into computer program.

NinjaTrader

This is another software trading platform which allows multi currency trading and comes with built in indicator chartings. Fully customizable and comes with NinjaScript to automated your trading strategy. Is comes with a simulator to back test your strategy using historical results. There are also a lot of forums, technical support and know-how website contributing to this trading platform.

Protrader

This is less known but is slowly gaining popularity due to its built entirely on JAVA and its full portability. It also comes with built in chart indicator, mutli currency trading and a programming Protrader language for automation of strategies. Provide full support to web, desktop and hand phone application.

In house develop software

There are many software application platform that various Forex Broker provides and are so call in house develop software. They run their own research and programming team to enhance and update their software. Most of these software are develop to fully operate via Web, desktop or hand phone. But most in house software does not comes with programming language, with makes it a disadvantage as compare to MT4, tradestation and NinjaTrader.

Final words.

Another new versio
MT5 is coming out and improves the execution speed and overall experience better then MT4. I personal like to use MT4 and love the feel of this platform. You can try out the other platform to see if it suits your trading experience. Last and most important to know is your Forex Broker, does it provide this platform for you?

Source: http://www.bestforexranking.com