Not all online trading platforms are equal, as you will see when you read through this next part of our guide.

Both of these platforms were developed by software design specialists Metaquotes and the MetaTrader MT4 version was first launched as far back as 1998, although there have been a fair few updates since that time. The MT4 was developed specifically for Forex trading and to this day remains the most popular platform for traders in that market.

The MT5 was launched in 2010 with the intention that it would eventually supersede the MT4. Interestingly, although the MT5 has more functionality and can be used to trade other financial products as well as Forex, it has never enjoyed the same level of popularity with the online trading community.

There are several things that recommend both the MT4 and MT5:Vast library of add-ons, many free available direct from MetaQuotes for both platformsFree, unlimited demo versions of both platforms are available from the developer, no need for a broker accountNative app versions are available for both iOS and Android devicesEasily ‘tweaked’ to add EA, advanced analytics and much more if you have the technological knowhow

Some brokers use their own adapted versions of these platforms as an option, or in some cases as their main platform, because they are so versatile for their applicable markets.

The WebTrader is a browser-based platform originally developed by BDSwiss in 2012. It is available to any online brokerage that obtains a licence to use it, after which it can be adapted as the broker sees fit, dependent on the trading needs of its clients.

In the same way as the MetaQuotes platforms, WebTrader is often developed further by brokers to make it unique to their operation. For example, free software may be added to the basic platform as an incentive for new clients.

Points in favour of the WebTrader platform:Very easy to learn and useAvailable for any device and suitable for use in any browser

Trading platform specialists Spotware, who are based in Cyprus, released the first version of the cTrader in 2010, primarily for CFD trading purposes, where it became an instant hit with retail traders, quickly earning a reputation for ease of use and accessibility.

The cTrader platform is completely versatile meaning you have the freedom to use it as a browser-based format, download native apps for iOS or Android or install it on your PC or Mac. In a similar way to MT4/5, you can also download a demo version from the developer.

What many traders like is the incredible amount of additional features that already come as standard with cTrader, making it the ideal tool for the day trading markets.

These are just a few of the many benefits of cTrader:Fast entry and execution of ordersAsynchronous order processingLevel pricingA good range of advanced order types

You are certain to encounter a number of bespoke-developed platforms tooJaipur Investment. Most often they are provided by brokers who offer stock trading opportunities or alternative options like copy trading or social trading availability.

Being unique, they do not necessarily cater for everybody’s needs or suit all strategies such as swing trading which many traders believe is best confined to professional platforms due to the diversity needed.

Some brokers develop and offer a unique market-specific trading platform alongside a selection of generic platforms, giving you the opportunity to choose the best one for your needs.

Invariably these are bespoke platforms which have considerably more built-in functionality for professional traders, together with the opportunity to import the specialist software needed for particular trading styles or strategies. In any event, there is always a cost factor involved to use them and you would need to weigh up the advantages and disadvantages according to your needs and budget.

With the increasing trend towards mobile trading, it is typical for brokers to offer mobile accessibility to trading accounts. However, not all options are as good as others and some may not provide sufficient functionality for certain types of trading or a particular strategy.

If your broker offers only a web-based option, then it needs to be mobile-optimised rather than just mobile-friendlyKolkata Stocks. The former is a web platform built to suit mobile devices whereas the latter is a bare bones option meaning you can access the platform as a mini version of the main platform, which does not always make using it easy.

Lastly, avoid at all costs any standalone trading apps, or suffer the consequences. These are not valid online trading platforms and if there’s no website, there’s no security, no comebacks and for you, no money left when it disappears untraceably into the ether.