| Online Broker | Minimum Deposit | Plus500's Platform vs MetaTrader |
|---|---|---|
| Plus500 | $100 Minimum Deposit | Plus500 does not offer MetaTrader. Plus500 is a CFD provider offering a user friendly platform across a range of devices, with 2000+ markets to trade. Plus500 offers 105+ technical indicators and fundamental news data on its platform as well as Market News and the +Insights tool, which provides insights into the activity of other Plus500 traders. Plus500 vs MetaTrader |
| XM | $5 Minimum Deposit | MetaTrader currently consists of MetaTrader 4 (MT4) and its successor MetaTrader 5 (MT5). MetaTrader 5 (MT5) provides a number of improvements on MT4. Each platform supports automated trading with robots and traders who execute their own trades. Both MT4 and MT5 are available at XM, which has a low minimum deposit, offers a Cent account and has 1000+ markets to trade on MT5. Plus500 vs MetaTrader |
Plus500's CFD Trading Platform vs MetaTrader - Plus500 Does Not Offer MetaTrader
Plus500 is a CFD provider offering a user friendly online trading platform designed for the trader who plans and executes their own trades but does not offer MetaTrader. Its CFD trading platform provides a clear interface with a range of charting tools including 105+ technical indicators. For traders who use fundamental analysis as well as all traders who want to know about upcoming news releases, Plus500 offers specific news release information for each market from its platform. Plus500
MetaTrader is currently two third party platforms, namely MetaTrader 4 (MT4) and its successor MetaTrader 5 (MT5). MetaTrader is a platform which can be found offered by a range of providers, but not Plus500. MetaTrader offers support for traders who plan and execute their own trades but additionally provides support for traders who want to use online trading robots to execute trades on their behalf.
| Feature | Plus500 Platform | MetaTrader |
|---|---|---|
| User Friendly Platform Feature | Plus500's platform is designed to be user friendly and intuitive, with a wide range of features integrated into the platform, including market news, an Economic Calendar and the +Insights tool, which offers insights into the activities of other Plus500 traders Plus500 Platform | MT5 is arguably more user friendly than MT4. Both platforms have a focus on providing features for advanced techniques such as automated trading. MT5 offers an integrated Economic Calendar and news feeds are typically provided for these platforms MetaTrader |
| Copy Trading Platform Feature | Plus500's platform does not offer copy trading Plus500 Platform | MetaTrader, both MT4 and MT5 may offer copy trading via MetaTrader Signals, depending on the provider. Third party copy trading platforms such as DupliTrade can connect with MetaTrader accounts MetaTrader |
| Automated Trading Trading Style | Plus500's platform does not offer automated trading Plus500 Platform | MetaTrader, both MT4 and MT5 does offer automated trading via Expert Advisor (EA) robots. Robots can be downloaded (T&Cs apply) but may also be built by the trader using the MQL4 (for MT4) and MQL5 (for MT5) programming languages MetaTrader |
| Markets To Trade Platform Feature | Plus500's platform can offer a wide range of CFD markets to trade (2000+) Plus500 Platform | MT4 tends to offer typically around 100-300 markets to trade. MT5 can accomodate more and a wider range, with thousands being offered at some providers MetaTrader |
| Indicators Platform Feature | Plus500 provides 105+ technical indicators on its user friendly platform Plus500 Platform | MT5 offers more inbuilt indicators than MT4, however providers may offers more and the trader can download others (T&Cs apply) or build them MetaTrader |
On MetaTrader, robots are called Expert Advisors (EAs) and can be downloaded (typically for a fee) and designed by the trader, if they learn how to program in MQL4 (for MT4) and MQL5 (for MT5). To program strategies, the trader would generally need to understand how strategies work, thus using and implementing EAs can be seen as a pursuit for more experienced traders. Plus500's platform does not support robots.
Traders of different experience can use MT4 and MT5 (and MT5 can be offered with a more user friendly interface) but they may need to learn how to use it initially. Plus500 is particularly user friendly and arguably intuitive thus the trader may find it more immediately approachable. Given that Plus500 offers 2000+ market to trade (and a wide range) it may be used by traders with different experience, including more advanced traders.
The number and range of markets on MetaTrader depends generally on the CFD provider, however MT4 tends to have up to around 200-300 markets (and can be less) while MT5 can have several hundred and even 1000+ markets to trade. At some CFD providers, social trading features may be enabled for MetaTrader either from the platform or another platform, but not necessarily. Plus500's platform does not support social or copy trading.
Forex traders can use either platform, however which to use may depend on the kind of Forex trading utilised by the trader. Forex trading encompasses a wide range of trading styles. Traders who do not use automated or social trading may appreciate Plus500's design, while those who want to utilise methods including robots, may find MetaTrader of interest. As a third party platform, if traders make the effort to use MetaTrader, then they may use it at a range of CFD providers, while Plus500's platform is offered only at Plus500. The infographic below offers a comparison of Plus500's CFD Trading Platform with MetaTrader.
So to sum up, Plus500 is a CFD provider offering a user friendly platform across a range of devices (including a watch app) but does not offer MetaTrader. MetaTrader is currently MT4 and MT5, two distinct platforms, one of which (MT5) has a number of enhancement on the other (MT4). MetaTrader is a third party platform which supports a wide range of trading styles, from discretionary to fully automated trading with robots.
Plus500 has a relatively large number and wide range of market to trade, while the number of markets and the range depends on the CFD platform providing MT4 or MT5, though MT5 may be offered with more in terms of range and number. Plus500 has a relatively large number of indicators (105+) while the number of indicators can also depend on the platform, though the platform is generally provided with at least 30+. However as well as downloading or programming EA robots, the trader may also download or build technical indicators.
With Plus500, the trader gets a fully featured, user friendly platform, while MetaTrader is customisable from its basic offering but with features which can vary from depending on the CFD provider. Sign-up links to AvaTrade (AvaTrade offers both MT4 and MT5) and to Plus500 are provided below. The trader can test out MT4 and MT5 on a demo and try out Plus500's Platform on a demo initially as well.
