The forex market is as lucrative as it comes. There are unlimited profit potential and numerous trading opportunities virtually around the clock. But to reap the rewards of this money-spinning market, a good broker, market knowledge and a robust trading platform are necessary. A trading platform is your gateway to this fast and dynamic market, and it is vital to utilize an intuitive one that will provide all the necessary functionalities to allow you to concentrate on that which matters most- your trading activities. The content is about A Review of AvaTrade Online Trading Platforms.
AvaTrade offers multiple trading platforms, which are designed to meet the diverse trading preferences and needs of traders globally.
Here is a review of the different
Probably the most powerful trading software in the world, MetaTrader 4 (MT4) is also the most popular platform among forex traders. The MT4 is light, stable and powerful, allowing for fast execution of trade orders. There are numerous financial assets available for trading including currency pairs, indices, stocks CFDs and commodities. The platform is also very user-friendly, allowing even newbies to navigate it easily so as to utilise its effective features.
MT4 allows for three order execution types and four pending order types. There are over 30 technical indicators and 9 chart timeframes to help traders perform comprehensive analyses on their favourite financial assets. Hedging and rollover trades are also accepted. Using the MQL4 function, traders can also code custom indicators and expert advisors (EA) to further enhance their trading activity. With AvaTrade partnering with multiple large liquidity providers, MT4 traders are guaranteed live interbank price feeds and can place trades with no slippages, no requotes, no rejections and with minimal spreads.
MetaTrader 5 is the latest iteration of the popular MetaTrader platform. It is a newer version, not necessarily a better one than MT4. While it has a similar interface to MT4, MT5 was designed to meet the needs of the modern multi-asset trader. Alongside the features of MT4, MT5 has additional financial asset categories such as cryptocurrencies, bonds, futures and stocks as well as new order types (stop limit orders) and added indicators and widgets to allow for even much more in-depth technical analysis.
The MT5 also comes with anintegratedEconomic Calendar, which enables traders to implement a fundamental strategy in the market in real time. It also features a vastly improved strategy tester for robots that allows for multi-currency pair backtesting. MT5 has 21 timeframe charts (9 more than MT4) and traders can also view the depth of markets (a graphical representation of bids and offers based on trading volume). For further functionality, MT5 also allows for partial order filling and docked charts.
A 100% native mobile platform, AvaTradeGO has brought flexibility and convenience to forex traders while maintaining the full functionality of the desktop alternatives. The app, compatible with both Android and iOS, is highly intuitive and interactive, allowing for various touch functionalities, such as zoom and scroll. Traders can switch between various accounts with just one click, and enjoy clear charts as well as a smooth trading experience literally on the go. They can also view their full trading history, watch other traders’ orders as well as create their own watch lists. The markets are on the move and AvaTradeGO lets traders be as well.
AvaOptions is AvaTrade’s platform for trading forex options. Featuring interactive chart-based trading, traders can place Call and Put orders on over 40 currency pairs, on gold and silver. They can utilize various strategies, such as Call and Put spreads, risk reversals,straddles and strangles, condors and seagulls, as well as automatic price improvements. The platform also features advanced charting tools and allows for placing Limit and Stop orders.
AvaOptions is available in both desktop and mobile platforms, with competitive leverage, professional spreads and volatility charts supported in both versions.
The Final Word
AvaTrade online trading platforms offers a wide selection of trading platforms to suit the individual needs of diverse traders. No matter your level of trading expertise, trading capital, trading style or preferred financial assets, you will no doubt find a platform best suited for you. Because a trading platform is your only portal to the online financial assets trading, you need powerful and reliable software from a reputable broker. AvaTrade has got you covered!