Forex trader vs metatrader
The vast majority of FX brokers continue to offer either MT4 or MT5 or both. We say this purely to demonstrate the gulf that still exists between professional grade trading platforms such as Ninja Trader, and retail platforms such as MetaTrader.
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The trading industry is gradually converging whereby retail users are vociferously demanding professional-quality services, state-of-the-art features and an razor-thin spreads to boot. Many retail traders are not fans of the MetaTrader platform, and are looking for better equipped alternatives. One of the more popular options is the NinjaTrader platform which is used by over 40, traders worldwide.
NinjaTrader was first released in catering for the high-performance trading and market data market. NinjaTrader has since introduced brokerage services to directly support futures and forex traders and continues to grow as a financial market participant and intermediary.
Since its launch, NinjaTrader has focused on active stock, futures and forex traders, but with a professional level of understanding and a professionally-sized trading account. Out of the box it offers advanced charting features, market analytics, automated strategy development, back testing optimization and trade simulation. Additionally, NinjaTrader Brokerage supports live trading for the futures and forex markets, and allows users to select from a range of counterparties to clear trades through.
Retail traders may recognise some of the names here, as several retail brokers are desperately trying to claw their way into the institutional space with higher trading volumes and bigger commercial opportunities. NinjaTrader offers vastly more charting customisation and features overall compared to MetaTrader. The whole platform is designed for customisation in mind so users can choose the level of historical data they require and have better options in applying it as part of back testing, or when applying charting indicators.
The platform itself is more robust, has better backup features and offers users access to multiple data feeds if required. Like with all other categories, NinjaTrader is aimed at the professional trader already versed in various terminology and features. NinjaTrader provides true market depth and allows for instantaneous order placement, amendments and cancellation at different prices simultaneously.
FX brokers have tried to catch on to this huge speculative market by showing market depth being offered in limited liquidity pools or their own order books, but FX market volumes at each price remain a pipe-dream for FX speculators unless FX becomes an exchange-traded product like FX futures have.
Both platforms provide support for those wanting to automated their trading of the financial markets, but which provides the best overall automated trading suite? MT4 and MT5 support Expert Advisors, or automated algorithms, that trade on the clients behalf.
Metatrader scripts are written in MQL4 or MQL5 respectively, with the unique MetaTrader scripting language borrowing heavily from the C family of programming languages.
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For more information on MetaTrader 4 and 5; read our MetaTrader v cTrader view here. The platform uses NinjaScript, which is nearly identical to the C language and those who have experience with C should be able to write trading programs for the NinjaTrader platform with little difficulty.
The fact NinjaTrader uses C , makes it relatively easy for individuals to rewrite robots for the platform. It also means that traders can tap into a pool of talented C programmers should they want to pay someone to write them a custom trading robot. What is particularly impressive about the NinjaTrader platform is the testing suite, which is some ways superior to the Strategy Tester included with the MetaTrader platform.
The NinjaTrader platform provides traders with the ability to back and future test their trading scripts, even if they are operating a live account. The platform also supports simulated data feeds which can be used to help test trend following robots. There is also the ability to use Monte Carlo simulation, which is something which is likely appeal to those with a background in statistics.
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The MetaTrader platform is very widely available. In fact, a number of brokerages offer the platform as their only option to traders, with the platform also being available in mobile formats allowing traders to manage their positions while on the move.
This makes it easy to find a brokerage who offers either MT4 or MT5, and MT4 remains by far the most widely-used. This is due to the fact that not all brokerages have picked up licences for MT5 which costs considerably more and is not a major selling point for many retail FX traders.
One huge gripe has been the disabling of hedging capability on MT5 despite this being a requirement only in the US. MT4 has been a hit with retail traders, and retail brokerages have been forced to take notice. View Top MT4 Reviews and brokers NinjaTrader NinjaTrader is only offered for free by a small number of Forex brokers who often place varying volume requirements on those who want to take advantage of the impressive trading platform. It is possible to download and use as a free version which allows traders to take advantage of some but not all of the platforms functionality.
Recently, NinjaTrader has launched its own brokerage which allows traders to use the platform to trade a range of different futures markets via the NinjaTrader platform. NinjaTrader is not widely available and retail traders may struggle to find a brokerage who will allow them to use the platform for free. If you are a novice trader NinjaTrader may come across as too daunting and difficult to get to grips with. If you are looking for a step up from the retail level, NinjaTrader could be the right first step.
Trading is not about the tools you have, but what you can do with the tools that are available to you. One good way to start trading in the correct way, or to correct any bad habits, is to participate in some training that is typically offered for free by brokers trying help their clients become better traders. Well established brokers like XM. NinjaTrader is often considered a superior platform due to some of the advanced functionality included with the platform.
Some of these features will simply be overkill for the average trader. One very important last point — it is often the broker that decides the quality of data, execution, connectivity, pricing a client sees, not the trading platform. So in many cases, traders not happy with a particular trading platform, may want to see how the same platform performs with a different broker. October 28, at Yet, there are several platforms which are better than the both above.
For example if we look at vertexfx and cTrader they both provide great services and platforms. I use both, and my favourite is Ninja. The reason is that I can use several windows in the same screen, syncronize them so that when changing to another pair all windows changes at the same time.
So, for example, you have EURUSD with 3 different timeframes in the same screen; you link the 3 windows and when changing to GBPUSD automatically the 3 windows change, and you can see the 3 timeframes very easy. MetaTrader is a good product yet bad team. Ninja trader was recommended and it seems to be a good terminal. I also came across VertexFX which by time seems my choice. I will not write a letter about what it gives for both traders and managers but the following video speaks it all https: Your email address will not be published.
Leave this field empty. Platform themes The trading industry is gradually converging whereby retail users are vociferously demanding professional-quality services, state-of-the-art features and an razor-thin spreads to boot.
Dancing with NinjaTrader NinjaTrader was first released in catering for the high-performance trading and market data market. Order types Probably the biggest, and most trader-coveted aspect of NinjaTrader is the order functionality. MetaTrader MT4 and MT5 support Expert Advisors, or automated algorithms, that trade on the clients behalf. MT4 and MT5 use different programming languages — MT4 uses MQL4, MT5 uses MQL 5.
Availability MetaTrader The MetaTrader platform is very widely available. View Top MT4 Reviews and brokers. I believe Meta Trader is about to expire not because of the technology but because of their team.
January 17, at 8: March 6, at Leave a Reply Cancel reply Your email address will not be published. All recommended firms on this website are supervised by one or more of the following regulatory bodies: Zulutrade Review Social Trading XM. Learn to analyze Forex like the pros with our comprehensive guide to technical and fundamental analysis: June 21, 2: High -leverage trading can be extremely volatile and cause substantial losses.
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