In the fascinating and volatile world of foreign currency, fortunes may be won and lost in a blink of an eye. The reason for a loss is not always poor decisions but at times could be the technical glitches and unreliable trading platforms. Therefore, if you want to participate in forex trading, you will want to use an efficient trading platform.
While traders using Windows computers have access to a greater number of trading platforms. Windows users can easily get any trading platform to work on their systems; if they want, they can get MT4, which is the most popular trading platform, or if they want to use an upgraded version of it, then they can download MT5. Whereas, options for Mac users dwindle especially after the absence of MT4 and MT5 from Apple App Store. Platforms that are available for Mac users are not well optimised according to macOS.
Moreover, we understand that sorting through a number of trading platforms and picking out the best is a lot of work. We tried to take care of the hard part and identified some of the best trading platforms for Windows and Mac users.
Best 10 Forex Trading Platforms For Mac & Windows
1. MetaTrader 4
One of the top trading platforms is MetaTrader 4, which was created by MetaQuotes Software in 2005. Due to its user-friendly design, the MT4 trading platform continues to be preferred by traders worldwide. It is a free trading platform for trading forex and other financial products including CFDs, futures, indices, commodities, and cryptocurrencies. It is regarded as the industry standard among trading platforms. As a retail trader, you can access MetaTrader 4 through particular brokers that have their own special licences for the platform. Some popular features of MT4 trading platform are:
- User-friendly and customizable interface which appeals to beginners and seasoned traders alike.
- 30 built-in indicators + additional 2,000 free custom indicators, multiple trading orders, 9 time-frames.
- One-click trading.
- Compatible with several operating systems such as Linux, Mac and Windows.
- Supports automated trading.
2. MetaTrader 5
The MetaTrader 5 (MT5) trading platform was also created by MetaQuotes Software Corp. as the company's newest software. It is an updated version of the MT4 platform and boasts cutting-edge technology that gives users quicker market connectivity as well as access to additional instruments, sophisticated tools, and trading methods. As a multi-asset platform, MetaTrader 5 is better fit for advanced traders who want superior tools and data-rich experience.
MT5 trading platform is accessible via web, online, and mobile versions, and also provides extra services like integrated trading robots, a database of independent strategy creators, copy trading, and virtual hosting. To initiate MetaTrader 5 download, you can go to playstore or your broker’s website. Make sure that the broker offers the MT5 forex trading platform.
Some additional benefits of MT5 platform that may interest you are listed below:
- Eight types of pending orders, 38 Technical indicators, 44 graphical objects and 21 timeframes.
- Netting and hedging facilities.
- Lots of meta trader 5 brokers offer the mt5 platform.
- Depth of Market and fundamental economic calendar.
- Supports MQL5 programming language for developing automated strategies.
- MT5 demo account for testing the platform.
- Offers a wide range of trading instruments.
3. Web Trader
WebTrader is a cutting-edge trading platform created exclusively for traders seeking a clear and uncomplicated user interface. Online trading has never been more straightforward than it is with WebTrader’s user-friendly interface. The best part is that the platform is highly customizable and may be configured to meet your individual trading requirements.
The WebTrader trading platform offers a number of advantages:
- Runs directly from the browser, no download or Installation required.
- Amazing risk management tools.
- Offers an option to partially close positions.
Spotware Systems Ltd. created the online trading platform cTrader as a full-service forex trading solution for traders. Fast entry and execution, level II pricing, an extensive selection of orders, simultaneous order processing, and enhanced order protection are all features of cTrader that makes it efficient. It’s UI is highly responsive and intuitive.
Apart from that, this multi-asset trading platform is perfect for any sort of trader despite their experience, trading style or strategy. On a single platform, you may select between manual, algo, and copy trading, which gives you an opportunity to try different strategies. Due to its availability on the desktop, and mobile platforms for Android and iOS, cTrader may allow you to trade at any time, from anywhere. The unique features that cTrader platform offers are:
- 9 different chart types, including, dots chart, Renko chart, range chart, etc.
- Allows creation of unlimited watchlists.
- Offers advanced order protection features, like use of multiple take profit (TP) levels and trailing stop loss.
- Custom-built indicators and automated trading.
- Trading directly from the charts.
ActTrader is a unique trading platform developed by the ActForex Company. Due to the innovative new features that the platform provides, it has gotten a great deal of interest from traders. It has a workspace that can be easily tailored to the needs and preferences of the user, who may choose to trade CFDs, ETFs, currencies, stocks, and options directly from the platform. ActTrader is one of the very few platforms that consistently makes adjustments to its platforms to improve performance and features.
There are several features that makes ActTrader a suitable trading platform:
- Trading terminal for beginners
- A plethora of charting tools and options for various time frames
- ActTrader is extremely customisable, both for the broker who offers it and for the individual trader.
ThinkOrSwim is one of the most popular trading platforms that is available for Mac users. It has a professional interface tailored to the needs of traders with different levels of experience. The amount of customisation extends from the basic design to the trading tools used on each window, as well as the ability to modify the backdrop colours.
The key strength of ThinkOrSwim platform lies in its powerful trading tools for active traders, which include real-time quotations, technical indicators and studies, backtesting capabilities, a highly configurable interface, an excellent charting solution, integrated news, and many other features.
- Ability to create customs alerts
- Lets you trade an array of trading products
- Get access to over 400 technical indicators and economic data for analysis.
- Easy market monitoring through heat maps and graphics.
NinjaTrader, which was founded in 2003, provides software and brokerage services to active traders. The platform is suitable for active traders looking for a wide range of technical analysis tools. It also has superior charting, real-time analysis, customisable technical indicators, Chart Trader and dozens of third-party applications and add-ons.
NinjaTrader's primary data supplier for live brokerage accounts is CQG Continuum, while Rithmic is also supported. The platform is extensive, with several tools and resources, and learning how to use all of the capabilities takes some time. NinjaTrader, fortunately, offers free weekly seminars to assist you get started. The ability to conduct simulated trades is an excellent feature of the site. It can be especially beneficial to rookie traders who haven't had much experience placing trades — or coping with the inevitable blunders that occur.
- Allows partial or full automation of trading strategy.
- Lightening fast trade execution
- Supports thousands of add-ons and apps developed by third party developers.
- Countless technical indicators and pro charting features.
- Access to daily webinars and video library.
Tradingview is a charting software and web-based social network for traders that allows users to network, discuss trading ideas, and trade straight from its powerful charts. It offers price feeds from nearly every financial market, including forex, stocks, commodities, cryptocurrency etc. and provides simple charting software with an easy-to-use interface and an all-in-one window for everything you need to trade profitably. The platform has garnered thousands of positive reviews from traders, investors, and even major businesses due to its pleasant UI and straightforward UX.
- A superior charting system.
- A comprehensive stock and cryptocurrency screener.
- Alert system that notifies you of pricing changes.
- A large community for traders and investors to share trading and investing ideas.
- Scripts that can be modified to provide unique indications..
- Access to a diverse range of worldwide marketplaces.
- Backtesting Capabilities.
- Indicator templates.
The functionality and usefulness of the xStation platform are two of its main appeals. Anyone who is familiar with similar trading platforms will be able to navigate the interface layout right away. Moreover, newcomers may also quickly grasp the key features.
On xStation, you may trade over 2,000 assets, including FX, indices, precious metals like gold, stock CFDs, and ETF CFDs. The Web Trade Platform from xStation is easy to use and also provides access to more sophisticated capabilities for experienced traders. It works flawlessly with almost all the web browsers including Google Chrome, Mozilla Firefox, Safari, and Opera. The desktop version comes with the same features as that in the web version. It comes with a mobile app with all the features required to trade and manage investments with ease. Both iOS and Android users can download the xStation app and start using it on their mobile devices.
- Customizable charts with lots of drawing tools and indicators.
- Ability to place a trailing stop loss before and after the trade execution.
- Three-click chart trading.
- Investment baskets and an option to breakdown the portfolio.
10. IQ Option
Last but definitely not the least on our list is IQ Option. The platform has been around for almost 10 years. Over the years, IQ Option has grown to provide a wide range of products, which include forex, equities, cryptocurrencies, commodities, and ETFs. The platform runs smoothly on macOS without any limitations. It offers state-of-the-art trading technology with amazing functionality and a diverse selection of assets on a variety of trading instruments. Traders may take advantage of an easy-to-use interface, instructional materials, and friendly customer support.
- Offers a wide array of trading instruments including Forex, Stocks, Commodities, Cryptocurrencies etc.
- Access to free video tutorials, informative blogs and market news.
- Compatible with desktop (Mac and Windows) as well as mobile (iOS and Android) devices.
- Well-organized design.
Not all trading platforms are created equal. Therefore, make sure that you compare different trading platforms, test them with virtual money on a demo account and then decide which platform provides the best solution for your personal trading style. Though we have tried to cover all the important information, you may need in the process of selecting the best trading platform but if you still have any questions, you can comment down below. And don’t forget to mention, which trading platform are you most intrigued to try out!