MetaTrader vs IQ Option

MetaTrader vs IQ Option

MetaTrader vs IQ Option Comparison - Platform vs Broker

MetaTrader is a third party platform supported by a wide range of brokers, typically available as a desktop download, webtrader and mobile app. Its two current versions in general use are MT4 and MT5. MT5 is the successor to MT4 and has a number of enhancement on MT4. MetaTrader is associated with Forex trading, but both MT4 and particularly MT5 can support a range of other markets, including Stocks CFDs. However MetaTrader is perhaps equally well known as a platform which supports automated trading by robots, as well as trading where the human trader executes their own trades. Both MT4 and MT5's online trading robots are called Expert Advisors (EAs). These can be downloaded or even built by the trader to execute strategies, for example trades based on indicator signals.

Robots have a number of advantages over the human trader, but can also produce drawdown or losses in the trader's account, in situations where the trader might exercise their discretion and exit a trade. However the very fact that robots will continue executing a trade in the face of drawdown is one reason they are used, as the trade may (or may not) work out in the end.

For the trader who executes their own trades and wants to perform their own analysis, MT4 and MT5 have the usual range of charting tools such as technical indicators. MetaTrader can also include social and copy trading, whether these features are supported or not depends on the broker. A point to consider about MetaTrader is that the trader signs up with a broker to trade on it and the broker decides which features to support and what markets to provide, within the capacity and constraints of the platform.

IQ Option is a broker and offers a platform available as a desktop download, a web trader and as a mobile app which has been developed over a number of iterations. It aims to be user friendly and has an arguably attractive appearance. This platform is designed for the trader who executes their own trades, it does not include the capacity to automate trades or the capacity to use social trading information or to copy trade. IQ Option has 300+ markets to trade encompassing a relatively wide range of markets. Thus the range of markets offered at IQ Option can be greater than that offered by a MetaTrader broker.

In short then, MetaTrader is a platform, while IQ Option is a broker offering a platform. The range of market and features offered by the MetaTrader platform depends on the broker while similarly IQ Option determines the features offered by its platform and the markets available to trade. If the trader wishes to try out MT4 (and its other platforms), they can try out a demo at FOREX.com, one of the major MetaTrader brokers. If they wish to try out a demo of IQ Option's platform, they can try out the platform via the sign up form or the link below.

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