Understanding the Forex market can be a complicated subject. Not only is a great deal of knowledge and intuition essential, but only the most reputable trading platforms should be chosen. This could have been quite difficult in the past.
Thanks to high-speed Internet and a host of different online brokers to join, such a variable no longer needs to be a concern. One of the most recent advancements is the creation of the Meta Trader 5 system. For those who are looking for cutting-edge technology paired with real-time capabilities, this platform is not to be missed. So, which brokers offer Meta Trader 5 and what are some of the other advantages that they provide?
Let us take a closer look.
EXNESS is an online Forex broker which has been in existence since 2008. Located in Cyprus, it is governed under the regulations stipulated by CySEC (as well as other international foreign bodies).
Interestingly enough, EXNESS provides both the Meta Trader 4 and the Meta Trader 5 platforms to choose from. Payment options include Payweb, Skrill, Neteller and wire transfers (PayPal is not supported here). Mobile, one-click and automated trading are all possible and with no less than 134 different currency pairs to choose from, EXNESS is one of the most flexible systems currently available.
This is another worthwhile platform to consider. Having been in existence since 2009, Roboforex provides an impressive 48 different currency pairs. As opposed to EXNESS, gold and silver can also be traded on this portal. Minimum account sizes of only one dollar enable Roboforex to be ideal for novice traders.
One of the other advantages of this site is that Meta Trader 5 is available in a demo account alongside Meta Trader 4, Currency Viking and cTrader. Therefore, one can determine which system is the best suited before he or she is ever required to make a financial commitment. It is for this reason along that RoboForex should be seriously considered.
Forex4You has been online since 2007 and while perhaps not as known as EXNESS or the larger brokers, the fact that Meta Trader 5 is available has allowed Forex4You to be a viable option. However, we should mention here that ONLY the Meta Trader 4 platform is available on the demonstration version. Meta Trader 5 can be accessed should one open an account. Trading instruments include Forex, gold and silver, CFDs, stocks and futures. This is one of the widest selections to be seen online and is another defining feature of Forex4You. A final quirk in regards to Forex4You is that there are more than a dozen different accounts to choose from; each catering to a very specific type of trader.
LiteForex is based out of the Russian Federation and therefore governed by the RAFMM financial authorities. Meta Trader 4, Meta Trader 5 and WebTrader can all be accessed through their demo platform and since LiteForex has been in existence since 2005, it is also considered to be one of the most trustworthy companies. High leverages allow this portal to be quite profitable (although such figures indeed carry their fair share of risk). Accounts can be opened for as little as one dollar and five different trading levels are offered. Some other perks offered by LiteForex include automated, mobile and one-touch trading methods. The types of customer support include callbacks, live chat, email and a dedicated online forum.
FIBO Group Holdings Ltd. has offices out of both Cyprus and Indonesia. Both Meta Trader 4 and Meta Trader 5 are offered on their demonstration platform. However, it needs to be pointed out that either of these will be deactivated as a result of 60 days or more of inactivity. Meta Trader 4 is only available for fixed and floating accounts (in terms of spreads) while Meta Trader 5 can be enjoyed with their “NDD” account. Gold, Silver and Forex are all trading instruments and Forex leverages can be as high as 1:200. Finally, FIBO offers other amenities such as mobile access, hedging, trailing stops and pending orders.
With a minimum account size of only five dollars, NordFX is certainly worth a look. Meta Trader 4 and Meta Trader 5 are both offered. The only drawback is that each will become deactivated after only 14 days of inactivity. This is substantially less than the 60 days provided through FIBO. However, this can be offset by the impressive Forex leverages of up to 1:500. Islamic accounts are also available for those in the Middle East or other parts of the world. NordFX is not accessible by traders within the United States. Meta Trader 5 is ONLY offered through their Standard-MT5 account. All others will employ Meta Trader 4 or another similar platform. VIP accounts can be opened by anyone who wishes to deposit $50,000 dollars or more. Like the other systems, NordFX offers one-touch trading as well as smartphone access.
This broker should be mentioned due to the fact that it can be accessed by traders within the United States. Offering Meta Trader 5 and MT4 Mobile, this platform is another popular option. Metals, futures, CFDs and currency pairs can all be traded and with leverages as high as 1:1,000, Forex-Market may indeed produce massive amounts of profit. 62 currency pairs are available and scalping is forbidden. Finally, Forex-Market is able to provide both fixed and variable spreads depending upon the needs of the trader.
It needs to be observed that Meta Trader 5 is still a relatively new trading platform. Thus, the number of brokers which offer this system is likely to increase into the future. For this reason, it is recommended that any serious trader always check back to determine whether or not any new providers have joined this growing list.