Which FXOpen Trading Platform Suits You Best?

The reason why you cannot use your old MT4 account in MT5 is because the two platforms are built on different software architectures. MT5 has been designed with more advanced features and capabilities, and therefore, it requires a different account structure.

While it may be inconvenient to open a new account, using MT5 can provide you with access to more advanced features and analytical tools that can help you make better trading decisions. It's important to weigh the benefits and drawbacks of each platform before making a decision on which one to use. So, Same as the author said, I also suggest to open demo account first, both in MT4 and MT5 to know which one is better for you

additional information, while MT4 and MT5 have similar interfaces and functions, they are built on different software architectures, which means that the two platforms have different features and plugins.

MT5 has several advanced features that are not available on MT4, such as a built-in economic calendar, additional chart timeframes, and more advanced analytical tools. MT5 also supports more types of pending orders, and allows traders to use a wider range of order execution modes.

In contrast, MT4 is a more lightweight and user-friendly platform, which is why it remains popular among traders, including experienced ones. While it may not have all the advanced features of MT5, MT4 is still a reliable and efficient platform for trading.

TickTrader and MT5 are both awesome trading platforms that FXOpen offers. TickTrader is web-based, so you can use it easily from any web browser, without downloading or installing anything. On the other hand, MT5 is a more advanced platform that offers a ton of features, like the DOM feature that shows the order book, advanced charting tools, and automated trading with expert advisors (EAs).

Both platforms are great for ECN trading, but they have some differences. MT5 has more advanced features for experienced traders who want to customize their trading experience. But if you're new to trading or just want a simple and easy-to-use interface, TickTrader is a great choice. It even lets you trade directly from charts and offers different types of orders like market, limit, stop, and trailing stop orders.

So, when it comes down to it, both platforms have their unique benefits, and it's up to you to decide which one fits your trading style and needs better.

When it comes to the assets that can be traded, it seems that this is decided by the brokers and both MT4 and MT5 can handle this. As mentioned in the comments above, MT5 is more advanced than MT4 and offers a more complete choice of specific assets such as cryptocurrencies. 

However, I agree with the previous comment that if you are unfamiliar with MT5's features, it may be best to stick with MT4. Don't worry if you feel that MT4 is a little outdated as it is still a reliable platform that many traders continue to use. You can read more about its reliability here: (Is MT4 still relevant?).

Thank you for the information. As you mentioned earlier, I'm concerned that choosing MT4 could mean opting for an outdated app since it has been in the Forex industry for years and updates might not be as frequent as one would hope. I've also read about other trading platforms offered by FXOpen, such as TickTrader, which seems to be an advanced platform with more features than MT4 that could potentially help traders perform better. However, I also agree with you that MT4 is still a reliable and relevant platform today

Hey mate, no worries, happy to help! When it comes to installing expert advisors on TickTrader, the process is actually pretty easy. First, you need to download the EA file from a trusted source. Then, open TickTrader and go to the "File" menu, and "Open Data Folder." This will open a window with the folder where all of TickTrader's data is stored.

From there, navigate to the "MQL4" folder, then "Experts," and drop the EA file in there. Once you've done that, restart TickTrader and the EA should appear in the Navigator window under the "Expert Advisors" section.

Now, all you need to do is drag and drop the EA onto the chart you want to use it with, and you're ready to go! Of course, it's always a good idea to test out the EA on a demo account first to see how it performs before using it on a live account.

I hope that helps, mate!

@Tuanzebe:TickTrader is a trading platform developed by Soft-FX that offers advanced features and capabilities for traders. While TickTrader is not as widely used as MT4 or MT5, it does offer access to expert advisors, which are automated trading programs that can be used to trade the markets.

To install EAs on TickTrader, the process is similar to that of MT4 or MT5. Here are the general steps:

Find a TickTrader-compatible EA: There are several online marketplaces that offer EAs for TickTrader, including the FXOpen TickTrader marketplace, where you can browse and download EAs.

Download the EA: Once you've found an EA that you want to use, download it to your computer.

Install the EA: Open TickTrader and click on the "File" menu, then "Open Data Folder". In the data folder, go to the "MQL4" folder and then the "Experts" folder. Copy the EA file into this folder.

Restart TickTrader: After copying the EA file, close and then reopen TickTrader to activate the EA.

Apply the EA to a chart: Once TickTrader is open, the chart you want to apply the EA to, right-click on the chart, and then "Expert Advisors". Choose the EA you want to use from the list and then click "Attach to Chart".

Once the EA is attached to the chart, it will start trading according to its programmed strategy. It's important to note that not all EAs are created equal and some may perform better than others. It's always a good idea to test an EA on a demo account before using it on a live account.

@Anggo: When it comes to choosing between MT4 and MT5 as an EA trading platform, it's a tough call, dude. MT4 is known to be more beginner-friendly, making it a good starting point for newbies like us. It's user-friendly and has plenty of indicators for technical analysis. On the other hand, MT5 offers more advanced features and tools, which could be useful for us as experienced traders in the long run.

In my opinion, if you're just starting out, go with MT4 to get the hang of things. Once you feel confident and want to level up, consider giving MT5 a shot for its extra bells and whistles. Oh, and don't forget to test both platforms with demo accounts first. That way, you can see which one fits your needs and trading style better. Remember, bro, it's all about finding what works best for you and your goals in the trading game.

@Mahamud Roy: If you're new to trading and trying to decide which FXOpen platform to use, you're not alone. It's common to hear that MetaTrader 4 (MT4) is the most popular platform, but don't count out TickTrader, which offers some advanced features.

As a beginner, your main concern should be finding a platform that is user-friendly and easy to navigate. In terms of user interface and features, MT4 has a more traditional layout and may be easier to navigate for new traders. On the other hand, TickTrader has a more modern and customizable interface, which could be a plus for more experienced traders.

Both platforms support the use of expert advisors (EAs) for automated trading strategies. However, there are some notable differences. MT4 has a larger library of EAs available, as it has been around longer and is more widely used. Additionally, it has its own programming language, MQL4, which can be used to create custom EAs. On the other hand, TickTrader supports EAs programmed in C# or Visual Basic .NET, which could be a plus for those familiar with those languages. Both is great in EA trading, so it is depending on your preferences!

@Leandro: Hey there! It's great to hear that you're familiar with MT4 and considering using it for your trading activities. Now, let's get to your question about transitioning from MT5 to MT4.

From what I've gathered, if you're already familiar with MT5, you'll have a relatively smooth transition to MT4. Although there are some differences between the two platforms, many of the core features and functionalities remain quite similar. So, you won't have to start from scratch and learn everything all over again.

One of the key differences you may notice is that MT4 has fewer advanced features compared to MT5. For instance, MT4 doesn't support certain order types, such as market depth and hedging. Additionally, MT5 offers more timeframes and technical indicators compared to MT4. However, the basic functions like opening and closing trades, placing orders, and using common technical analysis tools are quite similar in both platforms.

It's worth noting that some brokers may offer additional plugins or tools to enhance the functionality of MT4 and make it more comparable to MT5. (more you can read at here : Expert Talks: When Will MT5 Replace MT4?

@Willy:  Depth of Market (DOM), also known as the order book, is a super cool concept in trading. It's like peeking behind the scenes and seeing all the buy and sell orders for a specific asset at different price levels. Platforms like Metatrader and TickTrader have this feature, and it gives you a deeper understanding of what's going on in the market. (more detail? read in here : DOM Trading Strategies For Beginner)

Now, here's why having access to the market depth feature is awesome. You get to see how much buying and selling is happening at different prices. This helps you figure out if there's a lot of demand or supply at certain levels. It can also show you potential areas of support and resistance.

With this detailed information, you can make smarter trading decisions. You can find better entry and exit points, especially when things get wild and crazy in the market. You can also see how much liquidity is available at different prices, which helps you decide how much you want to buy or sell.

@Willy: 

Sure thing! Accessing and utilizing the built-in indicators and graphic tools in MT4 is relatively straightforward. Here's a step-by-step guide to help you get started:

• Open the MT4 platform and the chart you want to analyze.
• To add indicators, click on the "Insert" tab on the top menu. From there, you can choose from a wide range of indicators categorized by type (trend, oscillators, volumes, etc.).
• Once you've ed an indicator, a settings window will appear, allowing you to customize its parameters. Adjust the settings according to your preferences and click "OK."
• The indicator will now be displayed on your chart, providing you with valuable insights and signals based on its calculations.
• To access the graphic tools, click on the "Insert" tab again, but this time the desired tool from the "Objects" submenu. This includes lines, shapes, and text boxes that you can use to annotate your charts.
• Customize the graphic tools by adjusting their properties, such as color, style, and thickness, using the toolbar at the top.
• You can also save your customized indicator settings and graphic tools as templates for future use.

@Henderson: Hey dude! Let me answer your question. Usual, to find out if FXOpen is a legit broker and keep your money safe while trading, first, hop onto their website and see if they spill the beans about their regulators and license numbers. Next, pay a visit to the websites of these regulators to make sure FXOpen is on their good list. Don't forget to snoop around for online reviews and keep an eye out for any sketchy stuff. Read through the boring fine print (terms and conditions), and if things are still fuzzy, give their customer support a shout. If you're feeling super cautious, you can even call up your own country's money watchdog for the inside scoop. Just remember, regulations can change, so stay on your toes and remember, trading with a regulated broker gives your cash an extra layer of protection. Hope it can help, dude!