Bitcoin Forum

MetaTrader is known for its dominance in forex trading but is it the right platform for trading cryptocurrencies?

https://forexmarketslive.com/is-metatrader-the-right-platform-for-cryptocurrencies/

I am using Metatrader 4 and Metatrader 5 Platform from past seven to eight years and i like the simplicity and fast order execution in these platforms and i believe that you can't match the speed of the transactions placed from this platform with anyone else. I really like and will support the Metatrader platform if even cryptocurrency brokers start providing the Metatrader platform for trading purposes.

Use MetaTrader for cryptocurrency trading is good choice when the market on bearish because we can make profit also from short potition, Meta trader is good platform for trading because offer alot of different trading tool, like many indicator, stop loss and trailing stop automatic. Personaly i used it also for crypto trading and to trade others asset like stocks, forex and commodities.

 I think yes, i have seen now many broker forex listed pair of crypto in their MT4 platform. But trade crypto on this platform, we are not really buy and sell the crypto but only the contract. Called Crypto CFD or Contract For Different is allow for trader to make profit also from bearish trend with leverage and margin option.

How can you tell if a platform is the "right one"?
Logically speaking, you imply that any other platform than MetaTrader is not the right one. Why is that? Because it is slow? Low volume? or what?


Tradingview can offer you the same. Bittrex, Binance, and others already provide it to. I don't think trading with other assets as a plus for crypto exchange, why should you do that in the first place if you wanted to trade cryptocurrencies?

very good to use, because Metatrader is a very popular platform so it is almost used exclusively by the majority of forex brokerage companies and banks around the world. This Metatrader is very easy to use and has sophisticated and detailed features such as graphs and indicators that can help to analyze the movements of currency pairs for a certain time unit.

MetaTrader can be used for trading cryptos on forex brokers which support cryptos: https://bitcointalk.org/index.php?topic=716530.0

Now we can trade crypto not only on the crypto exchange but also in others platform like MT4 and binary option trading,  Metatrader is good platform for trade all different asset include forex,  commodities,  stocks,  bond,  and crypto.  When we trade crypto on this platform we should know what margin and leverage to use and this is according to balance in trading account to avoid margin call.

I haven't seen yet the MetaTrader platform which allows only Cryptocurrency trading. I know, some brokers allow trading with cryptocurrency in their MT4, MT5 platform but it's not a real cryptocurrency trading which we do in any Cryptocurrency exchange market like as Binance, Bittrex etc. Cryptocurrency trading in forex trading platform is different. I am looking for the MT4 or MT5 platform which allows only Crypto trading. But I think, it's not happened yet.

Does anybody know a Broker/Exchange that lets you use Metatrader 4?

there are many of them listed in this topic: https://bitcointalk.org/index.php?topic=716530.0

GrandCapital

Trade crypto on Metatrader is mean we use margin and leverage and this is will be more risk than spot trading.  Trade crypto on MetaTrader is better only when crypto market down trend, and when up trend is better trade on the crypyo exchange because the risk is lower and also promising higher profit.

Oh now i know this. Thanks for sharing! I can download and try to use it. Can you show me how to use it? I do not want to make mistakes. Will the manager team upgrade this? Hope so.

Yes i think so, Metatrader is good platform to trade cryptocurrency because we can make profit by open potition buy and sell. But we should be understand this trading use leverage that we can use it to increase the potential profit and also the risk will be higher. Before use it with real money ,we should be try first in demo account to know which level leverage should be to use and how to set stop loss, take profit and trailling stop.

This is depend on the spread of each broker, there is not all broker offer low spread for crypto trading. So when trading crypto on Metatrader we should be chooce broker that offering low spread so will be more profitable for scalping and day trading.Metatrader is good platform to trade all different asset because this software has many trading tools that we need to use in trading.

All asset that tradeable in MetaTrader platform is using leverage and margin, so this platform is not recommended for newbie trader because the risk will be higher than trade on spot market.

i agree, im trading forex on icmarkets, they also offer btc, but with terrible spreads.