There are various variations of the MetaTrader or forex trading platforms like the MetaTrader 4 or 5, Tablet, PDA and SmartPhone platforms. So trading this days can be done anywhere,traders no longer need a computer or laptop with installed MetaTrader 4 or 5 and modem because Tablets, PDA and SmartPhones are more portable and lighter than a laptop or desktop computer and can be used to place an order anywhere, even if you are on transit.
The MetaTrader 4 is an electronic platform widely used by most traders, it is a software that was developed by MetaQuote software and it can be downloaded and installed by forex traders no their PC’s for accessing the online forex market and seeing realtime forex quotes, charts, orders and account management which can be done on this platform. This type oftrading platform is more suited for beginners and newbies into forex trading for easy trading.
The MetaTrader 5 is an electronic platform that is not widely used by most trader, it’s a software developed but MetaQuote software and it can also be downloaded and installed from the broker’s site by traders on their PC’s just like the MT4 and used for trading. It is more professional and can only be used by professional forex traders.
(Note: Both softwares MT4 or MT5 utilizes a proprietary scripting language, MQL4/MQL5 which enables forex traders to develop Expert Advisors, Custom indicators and Scripts.)
Furthermore, the PDA and Tablet platforms are also available for traders using Personal Digital Assistant and Tablets. This type of forex trading platform control a traders trading account through gadgets such as PDAs, Tablets and iPad. These gadgets runs a Windows pocket PC’s that are compatible with them and can be used to access prices, charts, orders and account management from anywhere, because of the portability of these devices.
Hence, the SmartPhone platform is the most portable form of trading platform that can be used from anywhere, it is installed on SmartPhones like Androids, BlackBerry, iPhones and so on. It is used to control atrading account through a mobile device such as SmartPhones that runs a Windows Mobile 2003, iOS and Androids. These devices are used to view realtime forex market prices, charts, orders and account management can be done from anywhere with the help of this SmartPhones platform. Trading can be done from anywhere because of the portability of these devices.
Finally,trading can be done this days on various forms of trading Platforms that are more portable and lighter than the laptop or desktop installed MT4 or MT5. PDAs, Tablets, iPads and SmartPhones are more portable and can be used to make forex traders from anywhere, at any time 24/7.