Our clients have free access to a variety of trading instruments and state-of-the art information technology and software products from leading companies, such as the popular MetaTrader 5. All of our trading options are accessible when you open a WesternFX trading account online. Demo accounts can be accessed by filling in a form, you can select the deposit amount on this initial form. The trading conditions of the demo account are not stated so it is not clear which account they mimic, there may be a choice of this later in the signup process. There is also no mention of any expiration times so hopefully, they last indefinitely.
- Both MetaTrader 4 and MetaTrader 5 provide an easy-to-navigate layout, with customizable templates that can control the appearance of default charts.
- If you want to get in contact with WesternFX you can do so by using the online submission form, simply fill in your query and you should get a reply via email.
- Features that our researchers look for include custom Expert Advisors (Experts), the availability of the signals market, the ability to use VPN, number of account types and execution methods, among a host of other data-driven variables.
- The MetaQuotes Language (MQL) syntax enables programmers to create automated scripts and trading systems.
- WesternFX offers the award-winning MetaTrader 5 to facilitate trading through Windows, Mac, iOS and Android platforms.
There is also a phone number available as well as individual email addresses for General Informal, Customer Support, Deposit/Withdrawal and also a contact name for Skype. The support team is open 24/5 and is closed at the same time as the markets over the weekend and on bank holidays. The spreads are variable (also known as floating) so this means that when the markets are being volatile, the spreads will often be seen higher. It is also important to note that different instruments and assets have different starting spreads, so while EURUSD may start at 1.4 pips, other assets like GBPJPY may start slightly higher. Immediately before the open, the Trading Desk refreshes the rates to reflect current market pricing.
MetaTrader 5 WebTerminal
He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content. Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).
Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. All your trades will be executed instantly and confirmed online at once. If you want to get in contact with WesternFX you can do so by using the online submission form, simply fill in your query and you should get a reply via email.
Q: Who is WesternFX’s liquidity provider?
If you’d like to learn more about how CFDs work – or you’d just like to see our list of the best CFD trading platforms – check out our full-length guide to the Best CFD Brokers and Trading Platforms. There is a web-based version of MT4 and MT5 available, though these are not offered by all brokers. It’s important to note that the web version does not support automated trading. Any broker that offers the MetaTrader 4 (MT4) trading software can be considered an MT4 broker. MetaTrader 4 and MetaTrader 5 (MT5) belong to a suite of trading platforms developed by MetaQuotes Software Corp. for mobile, web, and desktop computers. WesternFX offers our customers some of the best trading conditions available.
Who created MetaTrader?
In addition to offering MetaTrader, some brokers also build their own custom in-house trading platforms. Based on our assessments of over 60 forex brokers, we’ve found that the best forex brokers also offer proprietary platforms. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.
This is largely due to the fact that for the first few hours after the open, it is still the weekend in most parts of the world. At ForexBrokers.com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies (click here to learn about how we calculate Trust Score). When using MetaTrader platforms, such as MetaTrader 4 (MT4) or MetaTrader 5 (MT5), there are automated trading systems known as Expert Advisors (EAs), or Experts for short.
Account Types
All this is available
anytime and anywhere where there is Internet access. There are 5 different accounts available, each one offering their own entry requirements as well as features and trading conditions. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. In order to assess the best brokers for traders looking to use the MetaTrader platform, we research and test each individual broker’s MetaTrader offering.
You can choose your expected type of account to suit your trading needs. You can compare details information about different type of account from table bellow. Experts, which are automated trading systems in MT4 and MT5, are built by traders and rely on backtesting to prove their profitability. As the famous market adage says, “past performance is not indicative of future results.” The problem with automated strategies is that they rely on the benefit of hindsight bias.
It executes more trading volume than any other MetaTrader broker each month and offers the full MetaTrader suite alongside competitive pricing, add-on trading tools, and quality market research. While it looks and feels similar to MT4, MT5 is a faster, more modern trading platform. Check out our MetaTrader 5 guide to learn about the platform’s advanced features and to get a behind-the-scenes look at mobile, web, and desktop versions of the platform.
Does MetaTrader support copy trading?
Choose the right broker for you that offers MT4 (or MT5), and then download the broker’s version of the platform directly from the broker’s website to start trading (or practicing with a demo account). ForexBrokers.com has been reviewing online forex brokers for over six years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research.
WesternFX is an established Global STP forex broker serving both individual and corporate clients around the globe. We offer all of our customers a comprehensive range of trading options specializing in FX and CFDs (Contracts forex broker listing For Difference), precious metals, energy and indices. WesternFX’s technical support, and consulting services, with the goal of making the trading process efficient, hassle-free, and above all highly profitable for you.
The reality is that very few trading systems are profitable over the course of an entire year. The signals market available on the MQL5 Community enables users to copy the live trades of approved signal providers. Also known as social copy trading, each signal provider charges a different subscription fee for access. It can also cost money to hold trades overnight — known as carry charges or overnight rollover premiums — depending on the live account type you have (Sharia-compliant accounts are usually interest-free, but may incur other costs). Having used MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for more than a decade, I wanted to create a comprehensive guide for traders.
