When we talk about Trading Platform the first name that comes to our mind is undoubtedly MetaTrader 4. Like me, I think all members of this community, which now mostly use the Dukascopy Platform - JForex, has experienced the well-known MT4 offered by dozens if not hundreds of forex brokers. But is it the famous MT4, the best option for trading in the FOREX market today?
Choosing the right trading platform for each one matters a lot. The most important thing is that the platform chosen should be a perfect match for the user. As each of us who have used both: MT4 and JForex, we can conclude that both of them have been designed to meet the needs of every trader. So what are the major differences between these platforms and what are its strengths and weaknesses. Of course, some of the things presented here are already known to all of you, others are my personal opinion, since I have used both platforms, for manual and automated trading.
- Platform OS: JFOREX - 1 vs MT4 - 0
- Platform API: JFOREX - 1 vs MT4 - 0
- Platform Programming Languages and IDE's: JFOREX - 1 vs MT4 - 0
- Platform Strategies Backtesting: JFOREX - 1 vs MT4 - 0
In contrast with others automated FX solutions providers, like MetaTrader 4, which tests results usually are not very accurate due to the use of data interpolation instead of the real tick data, JForex solves this problem by offering a real tick data for historical back tests, improving the tests' accuracy. While developing their strategies, traders can utilize the Market Depth as an additional resource, providing information about the current market. As I said, MT4 does not provides reliable data source for back tests, once again with some tricks and a lot of work we can download data from external providers and use it in MT4 EA's backtesting. JForex backtesting and programming possibilities are much more advanced than in MT4, my vote goes again to JForex.
- Platform Popularity: JFOREX - 0 vs MT4 - 1
Why traders continue choosing MT4 for manual and automated trading?
If we look on the internet is easy to see why most traders prefer to use MT4, because there are hundreds of expert advisors, custom indicators and other useful tools available for MetaTrader 4. When only few of them for other platforms, like JForex. Possibility to run operations with different financial market instruments (FOREX, Futures, CFD) in real-time mode, while in JForex only have access to FOREX. MT4 continues to dominate the market because of its flexibility and its customized features. All these advantages have been experienced by new and many professional traders. This is why they would rather stick with MetaTrader 4 trading platform.
Why should you chose JForex for manual and automated trading?
Jforex trading platform was developed by Fair Trading Technology for online Forex trading, so it is recommended for traders or developers experienced in programming and interested in automated trading. JForex can run in different operating systems, including MAC, Linux and Windows. The servers of the platform with which the users interact are reserved on-site and hence keeping latency low. Its Multi-way connections help a trader places a trade on one platform and easily synchronized it on other platforms simultaneously. Dukascopy is recognized for its transparency in SWFX market place, with Jforex platform, they offer direct access to the interbank Forex market liquidity.
Choose wisely your trading platform!
Your opinions are welcome in the form of review...