Forex traders have a preference which platform to use for trading. Nevertheless, this option is interlinked with Forex broker preference, since not every type of trading platform is provided by each broker.
In addition, some brokers do not have true compatibility with certain Forex trading platforms, but offer access through a bridge, which is a piece of software that connects the dealing system of a Forex broker to the platform. This can work satisfactorily but it can adversely affect trade execution and management if the bridge malfunctions or is late.
The trading platform Metatrader 4 is very well known and can certainly be said to set industry standard. I have never seen a Forex broker offering trading either directly through the exchange or through an in-house connection to the market, though this may be at the cost of a slightly higher spread and/or fee.
The Metatrader 5 trading platform, though developed by the same company (the Cyprus based MetaQuotes Software Corporation), is somewhat less widely offered. We need to take a closer look at the process to understand why that is the case. See our list & reviews of top MT4 Forex brokers.
infographic by: www.dailyforex.com
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