MetaTrader Platform - Basic Information about Features and Principles
- Trading Systems , Platform Technology
- 27.10.2021 12:52 pm
The financial sector is changing, but the Forex market is still an attractive place to invest. Therefore, many brokers are thinking about how to start a forex business. The number of trading platforms is constantly increasing, and innovative solutions allow users to be as efficient as possible. And, of course, traders and brokers are interested in using high-quality white label cryptocurrency exchange software. According to statistics, the MetaTrader platform (its MT4 and MT5 versions) are the most popular in the world. More than half of companies use them (54%). Let's find out more about the features of these platforms.
A Few Words about the Platform Developer
The developer of the MT4 and MT5 trading platform is MetaQuotes Software Corp, registered in 2000. Their most successful development (MetaTrader4) was released in 2005. This is the fourth generation of the platform, which has become extremely popular all over the world. About a third of traders (34.4%) worldwide prefer this particular platform. Of course, 15 years have passed since this debut, and a new generation of MT5 has been released, but the 4th version is considered the safest and most reliable. And its functionality allows starting cryptocurrency business to work effectively and efficiently with the Forex market.
The next version (MetaTrader5) appeared in 2010. The developer tried to improve his product by adding unique features and an expanded list of tools. A trader can get access not only to the Forex market but also to other sites. Today the MT5 version is used by 14.3% of users. But MetaTrader4 is still very popular and is preferred by many brokers.
Main Features of MetaTrader Platform
We have already said that forex prime brokers choose the MetaTrader platform. This choice is rational because the products combine convenience and functionality. Let's talk more about the second factor.
Efficient System for Different Trading Strategies
The MT platform offers clients a large list of different trading instruments. Thus, a trader can use pending orders, use stop loss, and take profit tools. Moreover, a flexible system of settings allows you to add the desired signals and indicators. All this allows you to use various trading strategies and start a cryptocurrency exchange business with maximum efficiency.
High Level of Analytics
The ability to carry out in-depth comprehensive market analysis is one of the main features of the MetaTrader platform. Successful traders understand that this is the real key to success. MetaTrader offers users a range of technical tools, a wide range of timeframes, interactive charts, etc. All these tools provide the most complete information about course changes, which allows you to build a high-quality forecast.
Compatibility with Other Trading Instruments
Newbies who decide to start a crypto exchange business on Forex face some problems. It is important to gain fundamental knowledge, and this is a difficult process. Thanks to the copy trading option (the MT platform offers this opportunity), beginners can copy trades of professional and successful traders. This avoids mistakes and increases profitability.
Thanks to this option, a trader can enter into transactions at any convenient place. MT4 and MT5 versions are compatible with iOS and Android mobile devices. The functionality and set of options remain the same. Moreover, good optimization allows you to work well, analyze the market and achieve success.
Inbuilt MetaTrader Market
Another important feature of the MetaTrader platform. The user can connect various trading robots and widgets. This process is free and secure. Moreover, there are also paid programs with advanced functionality and access to unique opportunities.
How Does MetaTrader Work?
The MT4 and MT5 versions offer similar solutions for starting a cryptocurrency exchange business. But there are also fundamental differences. Therefore, traders and brokers must decide which generation suits them best. The choice should be made between the proven and popular MetaTrader4 and the new iteration with additional features (MetaTrader5). Therefore, it is important to learn about the main functional differences.
1. Programming language. Version 4 is written in MQL4, and the fifth generation is written in MQL5. Also, MetaTrader5 can test advisors, which is very convenient.
2. Timeframes. MetaTrader4 offers traders to choose one of nine timeframe options. The fifth iteration is more variable in this regard (21 timeframes).
3. Indicators for analysis. MT4 has thirty trading instruments. This list has grown with the introduction of MT5. The client can use 38 indicators, create various Expert Advisors through the MetaIndicator and customize charts to his wishes.
4. Types of orders. This list is standard in MetaTrader4. The next generation provided the trader with an expanded list (Buy Stop Limit and Sell Stop Limit orders were added).
5. Access to markets. The MT4 version is designed to interact with Forex. The MetaTrader5 platform has received new software and allows the trader to work in other markets as well.
MetaTrader Platform and Cryptocurrency Market
Cryptocurrencies are an extremely liquid asset today. Therefore, many traders are thinking about how to start a cryptocurrency business. But it is important to find a quality platform for effective entry to the market and productive work with cryptocurrency. MetaTrader4 and 5 are compatible with such assets and markets. But let's talk about the important differences.
MetaTrader offers a small selection of cryptocurrency pairs. This is because the platform cooperates with brokers. Traders do not buy or sell cryptocurrency (they do not become an owner) but conclude CFD contracts on the selected digital asset.
The main purpose of the MetaTrader platform is to use it for margin trading. This approach is not very convenient for cryptocurrency spot trading. A thorough analysis of the pros and cons of each solution will help a trader start a cryptocurrency exchange business with good efficiency, avoiding unnecessary mistakes.
How to Get MetaTrader Platform - Two Ways
Every broker looking to create a crypto exchange must not only partner with a quality liquidity provider but also choose an excellent trading platform. A quality approach can contribute to business development and make a broker the most attractive to potential clients. And if we are talking about the MetaTrader platform, then there are two options. The first is buying a license. A good choice, but one should understand the price of such a solution. A standard license for MT4 and MT5 costs from 100 to 200 thousand dollars. Not every broker can afford such costs at the first stage of creating a cryptocurrency exchange.
However, this is not a reason to refuse a high-quality and reliable version of MetaTrader. Because there is a white label forex solution. By purchasing the white label crypto exchange software, the broker will get cheaper access to all the necessary MetaTrader tools. How does it work? An aspiring broker rents a white label trading platform from a company that has already purchased a MetaTrader product. This collaboration is the most effective way to get a branded and quality product.
B2Broker is a great choice. The company will help create your own crypto exchange while minimizing costs. Moreover, B2Broker constantly introduces innovative technologies, offers turnkey solutions, and also maintains a transparent pricing policy. Additional benefits include a wide range of individual settings and professional 24/7 support. Liquidity aggregator B2Broker helps you create the best white label cryptocurrency exchange.