In this post, we will focus on the Best Metatrader 5 Alternative apps in 2022 that work for forex trading. Traders often note that they are searching for brokerage trading platform solutions that are quick and secure. 90% of MetaTrader 5 reviewers on YouTube and Instagram rated MetaTrader 5 4.2 out of 5. However, traders may be looking for more specialized offerings built for forex trading apps.
Let us look up the most popular competitors and top alternative to MetaTrader 5 for reviewers.
Best MetaTrader 5 Alternative 2022 – Banned Platforms
In September 2022, Apple took out the MT5 apps from the App Store. This leads to a smash of new and existing users. New users cannot download the MT5 application, and existing users will not be able to update it in the future. The app will not function without the necessary updates. But traders using the MT5 app on an Android device are not affected by this change. The user must switch to the best alternative for MetaTrader5 which workaround also gives you access to expert advisors.
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Best Alternative Of Metatrader 5 In 2022
Finding the Best Metatrader 5 Alternative and competitors. Traders must ensure to take an in-depth look at popular Financial Services platforms to find out which one is right for their needs. Find how these Financial Services software products act as MetaTrader 5 similar apps 2022 when it comes to features, ease of use, customer service and live support, and real user reviews.
Let us see the top Best MetaTrader 5 Alternative:
- Alternative #1 cTrader
- Alternative #2 TradingView
- Alternative #3 eToro
- Alternative #4 Capital.com
Alternative #1 cTrader
The cTrader’s first version was inaugurated almost ten years ago after being in development for a year. cTrader has won various platform awards and has been embraced by some of the most respected brokers in the industry. cTrader also offers rich charting tools, advanced order types, level II pricing, and fast entry and execution. It’s connected to the most sophisticated backend technology and made available on multiple devices by using the user interface.
cTrader also offers more complex tools and indicators for trading like MT5. But unlike MT5, cTrader uses a more common C# programming language for the design. It performs the Best Metatrader 5 Alternative.
Why is cTrader the Best Metatrader 5 Alternative?
- Features: cTrader helps build various properties for the orders that submit when using the one-click or double-click trading feature by users. One-click orders Take Profit and Stop Loss, one can apply a Limit Range to the order.
- Clean And Attractive: cTrader is very clean and attractive. The designers have great efforts to ensure that the entire platform is inbuilt to use.
- cTrader Account: cTrader is a trading platform for Forex and CFD brokers. The platform is covered with a full range of features to feed to each. And, in cTrader, every investment preference imaginable.
- Pricing: Charged the amount of 5% for the follower of the total equity allocated for his Copy Trading Account per year, which is USD 50 of the allocated USD 1000 per year.
- Support: Customer support is available 24/5 by email and phone support, to ensure complete availability during trading hours.
Features Of Product
- It has a large number of time intervals.
- It has tiki and points charts.
- Have automatic addition of TP and SL to the open position.
- It can be defined as the Break Even level.
- It has support for custom indicators and automatic strategies.
- It has storing platform settings on the server.
- You can choose your time zone.
- Have an MQL-cAlgo converter.
- Demo Account.
- Easy to understand.
- Simple navigation among tabs and features.
- Favorites tab for organizing the currency pairs
- It supports more than 20 languages.
- It is accessible from any device.
- The stop-loss order differs exceedingly.
- Each trader has to connect to Spotware’s global network.
- Have unreliable trading bots.
What People say about it: One of the best apps that I’ve used. It has a clean interface. I find that it’s easy to make entries.
- How To Install
- Download the cTrader installer.
- Download an official demo version from cTrader.com.
- Run the downloaded file.
- It will start downloading the cTrader.
- Wait for the installer to download.
- cTrader will start automatically after the installation.
Alternative #2 Tradingview
TradingView was launched in June 2012 as a social platform for active traders and characteristics its own scripting language that allows users to customize charts and indicators. It continues to be an approved choice between active traders and financial software companies because of its versatility.
Users can pursue new concepts, research market fluctuations, and possible chart outcomes, collaborate with traders, chat, ask questions, and practice trades with the TradingView platform on any device.
Why Is Tradingview The Best Metatrader 5 Alternative?
- Reason #1: TradingView resolves this for server-side alerts. For this aspect, we can set up price alerts on individual assets and get advice on any of their platforms when the current price hits that defined amount.
- Reason #2: Since TradingView focuses on the social features of trading, you can as well as share your custom-built indicators with the community and secure feedback on them. You will see two built-in ones and the ones created by the community, in the public library.
- Reason #3: Be gentle that TradingView is not a trading platform per se. They do support several brokers that you can connect to perform buy or sell orders, but if your broker is not supported.
- Reason #4: For TradingView, we have an approach to a broad set of market data on stocks, futures, commodities, forex, CFDs, and cryptocurrencies like bitcoin. Indices are balanced and there are over 50+ exchanges and data feeds available for us to slice into custom time intervals as required.
- Reason #5: Technical analysis is at the core of what TradingView officers. For every ticker, they retain track of several oscillators, moving averages, and pivots. It allows them to provide a quick preview of each company’s stock price.
Features Of TradingView
- Senior charting system in HTML5.
- Supports a large number of markets and exchanges.
- Supports numerous asset classes.
- Backtesting trading analysis.
- Cross-platform includes web, iOS, and Android.
- Server-side alerting system.
- Quality of a few authors, some misleading ideas, trolling.
- Profiling of a few asset classes like ETFs is of low-quality.
What people say about it: I refer to a wide range of tools and indicators that allow me to at the same time learn from the trading ideas of others while sharing my analysis with the trading community.
- The TradingView platform is available for Android and IOS mobile devices.
- Go to the Google Play store.
- Download MetaTrader 5 by MetaQuotes Software Corporation.
- Log in to your account by selecting the broker server.
- In the TradingView app, open WebTrader.
- Choose any instrument.
- Click the TradingView icon
- Select the protection duration.
- Check the managing fee structure and finish date.
- Lastly, complete the trade.
Alternative #3 eToro
eToro is a multi-asset brokerage company with 10 offices worldwide. This platform licenses both manual and social investing and is convenient both on www.eToro.com and the eToro mobile app. With manual investing, eToro officers a wide selection of stocks, currencies, commodities, crypto assets, and ETFs and guides through its own innovative investment platform. Using the professional tools and analyses on eToro, our clients can track and invest in a diversity of financial instruments.
Why Is eToro The Best Metatrader 5 Alternative?
- Reason #1: Social-media-like graves of user thoughts and comments are currently throughout the eToro platform. You see a general grave immediately when you log in that balances user thoughts on crypto, markets, and investing broadly.
- Reason #2: CopyTrader and Important Investor are flip sides of the same coin. When users enroll in CopyTrader, they can duplicate the strategies of researching traders, termed Popular Investors.
- Reason #3: eToro imposes a 5 bps transaction fee for price takers and price makers. Also, the exchange operates for an inverted maker-taker model. That fact price takers are paid a rebate or charged a lower fee.
- Reason #4: eToro provides separate customer service for eToro and eToro. Both platforms provide help centers and assistance along with support tickets. But as with many other crypto exchanges, phone support isn’t obtainable.
- Reason #5: eToro is a traditional online trading company, a secure, regulated platform for crypto trading with a track record of storing investor funds for well over a vicennial.
Features Of eToro
- The minimum transaction amount for copying is $1.
- Useful functionality for passive investing.
- Managed by independent monitors.
- It is feasible to purchase contracts for fractional shares.
- It is feasible to buy shares at once on the US stock exchanges.
- Well-established platform.
- Useful in numerous jurisdictions.
- Special social trading capabilities that allow users to match the moves of popular traders.
- High circular.
- Periodic technical failures following execution.
What people say about it: I’ve been working for eToro for many years. I started copying trades, as this is what this platform is about. I researched and switched to trading on my own. Now, I offer my trading strategy to other traders and earn added income from it.
- Look at the Google Play store.
- Sort in “eToro MetaTrader5”.
- Choose the eToro MetaTrader 5 app.
- Click to install.
- Open the eToro MT5 app on an Android device and sign in with an IG account.
Alternative #4 Capital.com
Capital.com is a British Forex broker that offers its services to traders and investors worldwide. The company’s activities are managed by two bodies CySEC and FCA. The company is checked by Deloitte and cooperates with both large European banks. Capital is prepared to cooperate with active traders regardless of their experience, also with active investors who use shares of various companies for their work.
Why Is Capital.com The Best MetaTrader 5 Alternative?
- Reason #1: Capital.com provides shares trading and CFDs across a variety of popular asset classes that include over 5,000 shares, as well as 23 indices, 138 forex CFDs, 477 crypto CFDs, 29 commodities, and nearly a dozen thematic indexes. Broadcast betting is only available for U.K. residents.
- Reason #2: Overall, pricing at Capital.com is in line with the industry average. Capital.com provides a universal account option that is obtainable to retail traders, and also a professional account for those who qualify as elective professional traders.
- Reason #3: Capital.com provides three mobile trading apps with its proprietary Trading app, the Investment app for education, and the MetaTrader 4 app – all of which are obtainable for iOS and Android and Google Play store only.
- Reason #4: Best Metatrader 5 Alternative escort is available at Capital.com for macOS and Windows operating systems, Capital.com’s unshared platform is an easy-to-use web-based trading platform that comes with a great balance of aspects.
- Reason #5: MT5’s captial.com mobile charts are user-friendly and allow for dozens of indicators. Useful functions like drawing trend lines and changing the time frame are straightforward.
Features Of Capital.com
- Many ways to deposit and draw funds.
- Customer funds are detained in segregated accounts.
- A range of training materials and tools.
- Multilingual support languages available.
- A broad range of trading instruments.
- A High number of educational articles and courses.
- Good diversity of video content for market analysis.
- eQ patented AI trade prejudice detection system.
- MetaTrader 5 is not available.
- Lacks extra licenses in Tier-1.
What people say about it: I focused on Capital.com’s MT5 and Investment app. I was unable to install the Trading app due to a country restriction imposed by the developer. For a stare at its stock trading app for forex trading.
- Look at the Google Play store or Apple App Store.
- Sort in “Trading app by Capital.com” on Android Play Store and in Apple App Store look for “Capital.com: Trading & Finance”.
- Choose the Capital.com app.
- Click to install.
- Open the Capital.com app and sign in with an Trading account.
Metatrader 5 Similar Websites In 2022
You cannot place real trades within the MT5 trading platform unless you open a live account with a forex broker. So, faced with the MT5 ban, forex traders could choose the Best Metatrader 5 Alternative websites that offer advanced trading software and high-tech trading tools.
Best Trading Platform Like Metatrader 5
Based on data from youtube reviews, one can see how MetaTrader 5 stacks up to the competition. Check reviews from current and previous users in industries like Financial Services, Accounting, and Information Technology, to find the top MetaTrader 5 alternative sites for trading apps.
Metatrader 5 Free Alternatives In 2022
People use MetaTrader 5 to help with contact management, investor accounting, and compliance management. Maybe it is not the right choice whether affordability, ease to use, rating, and value of your money is your priority. There are many free alternative platforms and many tools available that are the best alternative for MetaTrader 5. Compare features, ratings, pricing, and benefits, and find the best free alternative to MetaTrader 5 in 2022.
FAQ of Best MetaTrader 5 Alternative
Is MetaTrader 5 safe?
Yes, MetaTrader 5 is safe and secure.
Is MetaTrader 5 good for beginners?
Yes, MetaTrader 5 is good for beginners.
Is MetaTrader 5 free to use?
Yes, MetaTrader 5 is free to use.
TradingView might be the Best Metatrader 5 Alternative. Here We have discussed the top MetaTrader 5 Alternatives sites and MetaTrader 5 Similar apps in 2022. While analyzing all these five apps, Tradingview is considered the best. Because it offers multiple languages and supporting options for traders, they are the Best Metatrader 5 Alternative apps.
Conclusion – Best Metatrader 5 Alternative 2022
With these above Best Metatrader 5 Alternative apps discussions, TradingView and cTrader are the best ones to choose from and are considered the best alternatives for MetaTrader 5 first. They have excellent customer service, multiple language support, and commission fees. Provides many features and benefits. Reviews are good on youtube, Instagram, and telegram for these apps. The above five apps are the top MetaTrader 5 Alternatives in 2022 and are the best alternatives for MetaTrader 5.