Platforms compared: MT4, MT5, cTrader, TradeLocker and TradingView
In this lesson you'll learn
- What a trading platform does, and how it differs from the broker
- The strengths of the main platforms
- How to choose, and why your platform choice isn't permanent
Broker and platform are different things
The broker holds your money and executes trades. The platform is the software you trade with. Most brokers offer more than one platform, and the same broker account type can feel quite different on each.
The main platforms
| Platform | Strengths | Watch out for |
|---|---|---|
| MetaTrader 4 | The classic; huge library of indicators and Expert Advisors (EAs) | Old design; being phased out by many brokers |
| MetaTrader 5 | MT4's successor: more timeframes, an economic calendar, more symbols, faster testing | MT4 EAs don't run on it without rewriting |
| cTrader | Modern and clean, depth of market, transparent pricing, cBots in C# | Fewer brokers than MetaTrader |
| TradeLocker | Browser-based, simple, popular with prop firms, TradingView charts inside | Newer, with fewer automation tools |
| TradingView | The best charts and community; can trade through connected brokers; alerts | Charting first: execution goes through a linked broker |
How to choose
- Your broker or prop firm often decides for you: check what they offer.
- Automation: MetaTrader for EAs, cTrader for cBots, TradingView alerts for no-code rules.
- Mobile: all have apps; TradeLocker and TradingView work well in a browser.
- Charts: if you analyse in TradingView, you can still execute on another platform.
You're not locked in
Many traders analyse on one platform and trade on another, or run accounts on several. Copy tools connect them, so a trade placed on one can be mirrored on another.
Common mistakes
- Choosing a platform before checking the broker's regulation.
- Assuming an MT4 Expert Advisor will run on MT5 or cTrader.
- Switching platforms in the middle of learning a strategy.
How this works when you copy trades
Goldman Copier copies between MT4, MT5, cTrader and TradeLocker, and from TradingView alerts, so each of your accounts can stay on the platform you prefer.
Check yourself
1. Who holds your money: the broker or the platform?
2. Do MT4 Expert Advisors run on MT5 unchanged?
3. Which platform is known first for its charts and alerts?
Key takeaways
- The broker holds your money; the platform is the software.
- Choose by broker support, automation needs and how you like to work.
- You can analyse on one platform and trade on another.
← Choosing a broker safely: regulation, red flags and scamsReading a chart: candlesticks, timeframes and trend →
Education, not advice. Goldman Academy teaches how markets and tools work. Nothing here is a recommendation to buy or sell, and no lesson promises profits. Trading leveraged products carries a high risk of losing money; only trade money you can afford to lose. · Written by Goldman Academy, reviewed by Faisal