Which Platform to Use as a Beginner Forex Trader?

With so many options around it can be very easy to get lost when making a choice sometimes. The problem of choosing a trading platform, especially for beginner traders, is not an exception as well. 

Which Platform to Use as a Beginner Forex Trader?
[image: pexels by nataliya vaitkevich]

Fortunately, we are here to give you a direction and some options you can choose from. In this article, we are going to tell you about such trading platforms as MT4, MT5, cTrader, and NinjaTrader, we will get acquainted with the benefits of each and understand which one is more convenient for newbie forex traders

So let’s start now with the platforms:

The Metatrader 4

The Metatrader 4 is a trading platform that is designed mainly for Forex traders. Thousands of traders carry out their processes of purchasing and selling every day. With a simple interface for any level trader, MT4 offers using numerous charts and functions such as analyzing financial markets in general. It helps make the right decision when making deals that are beneficial to both beginner and professional traders alike because it takes care of all needs without being overwhelming on anyone’s system. 

The Metatrader 5

If you are looking for a trading platform that has more features than the latter one, then Metatrader 5 is the right choice for you. 

Unlike MT4, it offers functions like a built-in VPS and an economic calendar. In addition, it has more timeframes, which can help to determine data more accurately and will help the beginner to trade better. 

By the way, in case of anyone get bored from buying and selling currency pairs, the Metatrader 5 gives access to other financial markets as well.

cTrader

One more well-known and efficient trading platform for beginners is cTrader.

With its user-friendly interface, CTrader provides traders with everything they need for any trading style. The platform offers indicators and tools that can be used b both by beginners and experienced traders, through its Straight Through Processing (STP) technology which allows users to trade directly with banks around the world. So due to this, you can execute trades without waiting on delayed responses time after time. 

NinjaTrader

NinjaTrader has been around for a long time. It is a popular trading platform that offers traders many different features that can help beginner traders get started with trading, and make it easier to trade with less risk. The interface is clear, so traders can see what’ going on with their trades as they happen. Besides, this top-notch platform offers some lectures and educational guides for every newbie can learn how to trade from the very beginning.

Which platform is better to use?

In fact, each platform is unique and the choice depends on the trader’s preferences and trading goals. There is no single answer to the question ‘’which one is better?’’ - the choice is up to a trader. 

We would like to add a little tip - pay attention to a broker choice, and before making a decision sure the brokerage company offers the trading platform you would like to trade on.

Conclusion

The article introduced you to 4 trading platforms that can be convenient for beginner forex traders. As you see, it is important to remember that there is no single answer when it comes to the question of which platform is better or the best – the choice depends on the individual trader’s needs and preferences. With that in mind, start exploring each of the platforms and choose the one that will fit your trading needs best.