How does the MetaTrader trading platform differ among different brokers?
Just ten years ago, almost every brokerage company tried to be unique and offered its clients its own trading platform.
However, gradually, most brokers became convinced of the advantages of MetaTrader and gave preference to this trading platform.
This is not surprising, since MetaTrader 4 and 5 versions are currently considered the most popular trading program.
A huge number of third-party scripts have been developed specifically for MetaTrader, which are easily downloaded from the market or websites dedicated to exchange trading.
Metatrader is so versatile that you can select a broker and open an account within the program itself, sometimes without even having to visit the brokerage company's website.
However, despite this, the same trading platform may differ depending on the brokerage company.
What changes in MetaTrader when you change brokers?
To begin with, it should be noted that changes occur not only when changing a broker, but even when changing an account within a single brokerage company.
Number and types of assets
First of all, the differences concern the number and types of assets available for opening transactions.
For example, if you have an account on the MetaTrader 5 trading platform from RoboForex - https://roboforex.com/ - you can select an asset from the following list of symbols:
At the same time, the symbol selection window at Alpari - https://alpari.com/ - offers many more options:
Depending on the broker, the number of available assets sometimes differs several times.
Speed of work
It would seem that the same program is installed on the same computer, but as soon as you switch between brokers, MetaTrader starts working completely differently.
With one broker, timeframe changes are instantaneous, while with another, you have to wait a few seconds for the chart to update. Order opening times also vary.
Script operation
This isn't the first time I've encountered a situation where the same indicator, script, or advisor simply refuses to work with a particular broker.
Often these are restrictions imposed by the brokerage company itself, and in some cases the conditions are written into the script code itself.
Therefore, sometimes it's not worth wasting time configuring a non-working tool; it's enough to test its functionality in another broker's terminal.
Trading conditions
Despite the fact that there is only one trading platform, transactions are opened in accordance with the trading conditions of the currently active account.
Parameters such as spread size, swap, and leverage will depend solely on your broker's trading conditions.
This also applies to various restrictions – the ability to hed , order placement parameters, minimum and maximum position sizes, and much more.
It's fair to say that the MetaTrader trading platform provides the basic functionality that underpins the trading process, but most of the nuances depend solely on your broker and the account type you're trading on.
Brokers with Metatrader 5 - https://time-forex.com/vsebrokery/broker-metatrader5
