The world of online trading has grown exponentially in recent years, offering both experienced and novice traders a plethora of options when it comes to trading platforms. Two of the most well-known and widely used platforms are ActTrader and MetaTrader. Both platforms have their own unique features and advantages, catering to different types of traders and their specific needs. In this article, we will delve into the comparison of ActTrader and MetaTrader, highlighting their key features, strengths, and weaknesses to help traders make an informed decision on which platform suits them best.
Introduction to ActTrader and MetaTrader
Before diving into the comparison, let’s briefly introduce both ActTrader and MetaTrader.
ActTrader
ActTrader is a trading platform developed by ActForex, Inc. It was designed primarily for forex and CFD trading, providing traders with a user-friendly interface and a comprehensive suite of tools and features. The platform is renowned for its stability and security, making it a popular choice among brokers and traders alike.
MetaTrader
MetaTrader, developed by MetaQuotes Software Corporation, is one of the most widely used trading platforms in the world. It comes in two versions: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). MT4 was the first version and is still widely used, especially for forex trading, while MT5 offers more advanced features and is suitable for various financial markets, including stocks, commodities, and cryptocurrencies.
User Interface and Navigation
A crucial factor for traders is the user interface, as it can significantly impact their trading experience and efficiency.
ActTrader
ActTrader boasts a user-friendly and intuitive interface. The platform’s layout is well-organized, allowing traders to access various tools and features with ease. The charting capabilities are respectable, providing multiple chart types and timeframes to analyze price movements effectively. Moreover, traders can easily customize their workspace to suit their preferences, making ActTrader adaptable to individual needs.
MetaTrader
MetaTrader also offers a user-friendly interface, especially in its MT4 version. The platform’s layout is clear and straightforward, with a comprehensive toolbar and easy-to-navigate menu. MT4 is particularly famous for its charting capabilities, offering a wide range of technical indicators, chart types, and drawing tools. However, some traders might find MT5 slightly more complex due to its expanded functionalities, which could lead to a steeper learning curve.
Asset Selection and Market Access
The variety of assets available for trading and the level of market access are vital considerations for traders looking to diversify their portfolios.
ActTrader
ActTrader primarily focuses on forex and CFD trading, offering a decent selection of currency pairs and popular CFDs like indices, commodities, and precious metals. While the platform caters to the needs of forex traders, those interested in a broader range of assets might find ActTrader limiting.
MetaTrader
MetaTrader, on the other hand, excels in providing access to various financial markets. MT4 offers an extensive selection of forex pairs and CFDs, while MT5 expands the offering to include stocks, commodities, and cryptocurrencies, making it a more versatile platform for traders interested in diversified trading opportunities.
Order Types and Execution
Efficient order execution and a variety of order types are critical for traders looking to implement different trading strategies.
ActTrader
ActTrader provides traders with standard order types like market orders, limit orders, and stop orders. It also supports more advanced orders, such as OCO (One Cancels the Other) and trailing stops. The execution speed is generally reliable, ensuring traders can enter and exit positions without significant delays.
MetaTrader
MetaTrader stands out in this aspect, offering a wide range of order types, including market orders, pending orders, and stop orders. MT5, in particular, introduces more advanced orders like stop-limit orders and OCO orders, allowing traders to implement sophisticated trading strategies. The execution speed on both MT4 and MT5 is considered fast and dependable, which is essential for active traders.
Automated Trading and Expert Advisors
Automated trading is a sought-after feature for traders who wish to execute trades based on pre-defined algorithms or trading signals.
ActTrader
ActTrader supports automated trading through its proprietary scripting language, ActFX. While it allows for basic automation, it might not offer the same level of advanced capabilities and community support as MetaTrader’s Expert Advisors (EAs).
MetaTrader
MetaTrader’s Expert Advisors (EAs) are renowned for their flexibility and robustness. Using MQL4 (MT4) or MQL5 (MT5) programming languages, traders can create, backtest, and optimize complex trading algorithms. The MetaTrader platform also hosts a large online community where traders can share and download ready-to-use EAs, providing access to a vast library of automated trading strategies.
Mobile Trading Experience
In today’s fast-paced world, the ability to trade on the go is crucial for many traders.
ActTrader
ActTrader offers mobile trading applications for both iOS and Android devices. The mobile app provides essential features, allowing traders to execute trades, monitor positions, and access real-time market data. However, the mobile app’s functionalities might be relatively basic compared to its desktop counterpart.
MetaTrader
MetaTrader’s mobile applications for MT4 and MT5 are well-developed and offer an excellent trading experience. Traders can access advanced charting tools, manage multiple accounts, and receive real-time price alerts. The mobile apps are user-friendly and perform exceptionally well, making them a popular choice for traders who prefer trading on their smartphones or tablets.
Security and Regulation
Security and regulatory compliance are paramount in the world of online trading, as traders want to ensure the safety of their funds and personal information.
ActTrader
ActTrader places a strong emphasis on security, employing various measures to protect its users. However, the platform’s security level might vary depending on the broker that offers the platform, as brokers can add their security protocols.
MetaTrader
MetaTrader is also a highly secure platform, utilizing encryption protocols to safeguard user data and transactions. Additionally, its popularity ensures that most brokers offering MetaTrader comply with industry standards and regulatory requirements, providing traders with an added layer of protection.
Platform Customization and Third-Party Integrations
Traders often have specific preferences and might require custom indicators or other third-party tools to enhance their trading experience.
ActTrader
ActTrader allows traders to customize their platform by adding custom indicators and tools. While the selection of third-party integrations might not be as extensive as MetaTrader’s, traders can still find useful add-ons to improve their trading strategies.
MetaTrader
MetaTrader has a vast community of developers creating custom indicators, scripts, and trading tools. This extensive library of third-party integrations gives traders nearly limitless possibilities to customize their trading platforms according to their needs.
Customer Support and Resources
Reliable customer support and educational resources are essential for traders, especially for those new to trading.
ActTrader
ActTrader’s customer support quality can vary depending on the broker. Traders should ensure they choose a broker with excellent customer support services. As for educational resources, ActTrader might provide basic tutorials and documentation, but it may not offer the same extensive library of educational materials found on the MetaTrader website.
MetaTrader
MetaTrader is known for its strong customer support and comprehensive educational resources. Traders can find a wide range of tutorials, videos, and articles to improve their trading knowledge and skills. Additionally, the large MetaTrader community provides ample opportunities for traders to learn from each other.
Conclusion: Choosing the Right Platform
Both ActTrader and MetaTrader are reputable and widely used trading platforms, each with its own set of strengths and weaknesses. The decision on which platform to choose ultimately depends on individual preferences, trading goals, and asset preferences.
If you are primarily focused on forex and CFD trading, ActTrader’s user-friendly interface and stability might be appealing. However, for traders seeking access to a broader range of financial markets and advanced trading tools, MetaTrader (MT4 or MT5) is a more suitable option.
Regardless of the platform chosen, traders should conduct thorough research on the broker offering the platform to ensure regulatory compliance, security, and reliable customer support. Moreover, testing the platforms through demo accounts can help traders get a firsthand experience of each platform’s features, enabling them to make informed and confident decisions.
If you are looking for a reliable MetaTrader broker, then IC Markets have very low spreads and competitive commission fees along with excellent customer support.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
