Top 3 financial trading software platforms by investfox experts

In this guide, we would like to provide thorough reviews of the financial industry’s leading trading platforms such as MT5, cTrader, and SaxoTraderGO. investfox experts have taken into consideration every crucial feature of these programs and want to give you a proper idea about their qualities.

MetaTrader 5

MetaTrader 5 is a very popular trading software developed by MetaQuotes, and it is a follow-up product of the previous version called MetaTrader 4. This is a multi-asset software that lets you trade stocks, Forex, and futures. It supports hedging, which means opening a certain position and then opening another position in the reversal direction. Also, MetaTrader 5 supports  4 order execution modes – request, instant, exchange, and market execution.

When it comes to analytical tools, MT5 gives you the opportunity to open over 100 charts of currency and stock quotes at a time. You will be able to thoroughly analyze the currency price movement with the help of 21 timeframes in this program, and more importantly, 80 in-built technical indicators are provided along with graphics objects in order to analyze quote dynamics. Besides built-in indicators, you will also come across nearly thousands free of charge indicators, 2500 algorithmic applications, and custom indicators from expert programmers. The great news is that the MQL5 programming language allows users to establish their own indicators with their unique characteristics.

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Lastly, we want to outline that MT5 will furnish you with a fundamental analysis tool, news reports, and an economic calendar. All these resources help to monitor the market, find out the latest news, and analyze the impact of main macroeconomic indicators on different financial instruments. You can check out the XM review here as it is one of the best Forex brokers offering MT5. XM is a licensed broker providing over 1,200 assets such as Forex, shares, indices, commodities, and cryptos. What’s more, there is an extensive educational department comprising videos, podcasts, detailed guides, and articles. XM does not charge any withdrawal fees and opening an account is very easy on this broker.

cTrader

cTrader is also a highly famous trading software platform launched by a Cyprus-based company called Spotware Systems. We want to emphasize that cTrader contains a spotless and easy-to-understand design, so you won’t have a hard time navigating through the platform. It is a complete trading platform for CFD and Forex traders packed with a wide range of high-quality features. You will come across rich charting tools, level 2 pricing, and advanced order types. What’s more, cTrader provides a revolutionary investment service since users have a chance to copy other traders’ strategies for a commission or fee.

If you would like to execute automated trading, cTrader Automate, which is an integral part of cTrader desktop application, allows you to develop algorithmic trading robots. cTrader’s modern C# API makes it possible to write codes inside the software, and also, check the working mechanism of robots as well as indicators. As for the cTrader’s Open API, it helps users to establish their own applications without any cost in order to connect them to any cTrader account. Whereas a FIX API in this program is completely free to access and is solely intended for retail traders. Lastly, we want to highlight that this program can be accessed with all types of devices, including computers, tablets, and smartphones, and keep in mind that the mobile app consists of every essential trading feature. Read this Pepperstone review to learn more about one of the top brokers providing cTrader software. Pepperstone is regulated in 7 jurisdictions and does not charge any fees for deposits and withdrawals. You can open an account on this website in less than one day and don’t have to pay extra money for being inactive. Apart from cTrader, it also supports MetaTrader softwares and additional social copy trading platforms.

SaxoTraderGO

SaxoTraderGO is an excellent trading software platform that provides a comprehensive range of investing and trading features. You will encounter an innovative product called an enhanced trade ticket in order to place trades quickly and efficiently while displaying every relevant information in the ticket itself. Furthermore, SaxoTraderGO has developed equity research tools for traders to analyze the fundamentals of companies and see analyst sentiment indicators for every stock on major exchanges. While this trading platform is available with a number of brokers, we recommend you check Saxo Bank review by investfox, since this is the brokerage that is behind SaxoTraderGO (as the name implies) development.

When it comes to technical analysis tools, you will experience live charts, automated Trade Signals, and other annotation resources in order to identify patterns across many instruments. You are able to trade directly from their live, integrated chart, and also, take advantage of over 40 drawing tools and technical indicators in SaxoTraderGO. All in all, this is a great trading software to execute trades of stocks, futures, indices, options, and other financial instruments.