Plus500 vs MetaTrader

Plus500 vs MetaTrader 4

Plus500 vs MetaTrader

Plus500 is a broker offering a user friendly online trading platform designed for the trader who plans and executes their own trades. As such it offers a clear interface with a range of charting tools including 115+ technical indicators. For traders who use fundamental analysis as well as all traders who want to know about upcoming news releases, it offers specific news release information for each market from its platform.

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 brokers, 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. 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.

Beginners 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 is more immediately approachable. Given that Plus500 offers 2000+ market to trade (and a wide range) it can be used from beginner to advanced traders. The number and range of markets on MetaTrader depends generally on the broker, however MT4 tends to have up to around 200 markets (and can be less) while MT5 can have several hundred and even 1000+ markets to trade. At some brokers, 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 brokers, while Plus500's platform is offered only at Plus500.

So to sum up, Plus500 is a broker offering a user friendly platform across a range of devices (including a watch app). 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 broker 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 (115+) while the number of indicators can also depend on the broker, 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 with features which can vary from broker to broker. To let the trader test out both platforms, sign up links to an MT4 demo account are provided below, offered by FOREX.com, a major MT4 broker and to a demo account for Plus500. Both accounts can be turned into live accounts as well.

Plus500




Search this site

Translate