The 3 best MetaTrader 5 alternatives – Comparison for traders
Table of Contents
MetaTrader 5 is unarguably the best trading platform for any trader. However, like everything has loopholes, MetaTrader 5 also has some. And because of this, traders often look for MetaTrader 5 alternatives.
Although MT5 is the best-suited trading platform for forex and CFD trading, you might want to explore more platforms. After all, sticking to one trading platform can get boring and limit your profit-earning potential.
If you need some MetaTrader 5 alternatives to make trading more fun, we have the best trading platform suggestions that you can try.
See the list of the 3 best MetaTrader 5 alternatives here:
Review & RATING: | PRICING: | AVAILABLE FOR: | Advantages: | Free account: | |
|---|---|---|---|---|---|
1. TradingView  | • Free version • $14.95 per month (Pro plan) • $29.95 per month (Pro+ plan • $59.95 per month (Premium plan) | Web browser, Android, iOS | # Huge selection of technical indicators # Analytical tools # Alerts and notifications # Social platform to exchange with traders # Customizable # Add-ons available | Free TradingView plans available on Vantage Markets: (Risk warning: Your capital can be at risk) | |
2. cTrader  | Free plan available, commission depends on broker | Windows, Mac, Web browser, Android, iOS | # Advanced charting # Custom indicators # User-friendly interface # Fast order execution # Depth of market | Free cTrader account available on Pepperstone: (Risk warning: 74-89 % of retail investor accounts lose money when trading CFDs) | |
3. ATAS  | • $69 (1 month) • $179 (3 months) • $299 (6 months) • $479 (1 year) • $1790 (for the unlimited plan) | Windows, Mac | # Fast order execution # News and market data services # Advanced automation possibilities # Wide range of indicators # Excellent risk management tools | Test ATAS for free: (Risk warning: Trading involves risks) |
(4.9 / 5)
(4.8 / 5)
The list of the 3 best MetaTrader 5 alternatives includes:
- TradingView – Powerful performance and thousands of indicators
- cTrader – Highly customizable
- ATAS – Professional trading at its best
Let us take a closer look at each of these trading softwares.
1. TradingView – Powerful performance and thousands of indicators
It is an exceptional trading platform that serves the traders’ needs. Traders prefer to use this trading platform because of its powerful performance. TradingView offers traders more than 30 technical indicators.
Besides, the functionalities of this trading platform are the best for any trader. It is why most traders consider TradingView as the best of all MetaTrader 5 alternatives.
Good to know!
Let’s explore some TradingView features to get a clear picture of what makes the best of all MetaTrader 5 alternatives.
TradingView features:
- The best thing about TradingView is that almost all trading platforms offer you a free trading account with this platform
- Users can trade their favorite underlying assets on TradingView
- Conducting an accurate trading analysis is possible on this trading platform
- Traders can enjoy trading using the automated trading feature
- TradingView offers plenty of charts and trading tools to traders
- The trading tools and charts are highly customizable for users of TradingView
- The setup and user interface of TradingView are simple. So, even beginners can use TradingView without any hassle
- This platform allows traders to use and set their preferred time frame while conducting a technical analysis
- The charts on this trading platform have both light and dark modes. So, traders can set the chart depending on their requirements
- If a trader opts for the basic TradingView account, he can use only one chart. However, choosing the TradingView premium plan is the best for any trader because you can use up to 8 charts simultaneously
So, traders can use TradingView as the best of all MetaTrader 5 alternatives. As you can see, TradingView offers traders a sea full of features. Besides, they can connect with this trading platform very easily.
Good to know!
So, a trader must find a TradingView broker that is reliable and also extends the best services to traders.
Additionally, TradingView’s basic plan is easy to access without any cost for traders. However, if you opt for TradingView Pro or Pro+, you must pay the charges.
(Risk warning: Your capital can be at risk)
2. cTrader – Highly customizable
Besides TradingView, traders have two other MetaTrader 5 alternatives. One of them is cTrader. The name of cTrader is well-known among traders looking for a highly-customizable trading platform. However, if you ask about the best MetaTrader 5 alternative, we suggest TradingView.
It doesn’t mean that cTrader is less efficient. It is a great trading platform from the perspective of price.TradingView plans can be a little expensive for traders. However, cTrader comes as better and budget-friendly trading software.
Good to know!
Like TradingView, cTrader offers traders a one-stop solution to fulfill all their trading needs. This trading platform makes trading fun for them. Additionally, several traders have reviewed this trading platform very positively.
Some cTrader features explain why traders could use it as one of the best MetaTrader 5 alternatives.
cTrader features:
- Traders can easily use the stop orders and limit orders functionality on this trading platform
- Placing trades on cTrader is very simple and takes only a few minutes. Thus, traders can expect faster execution of trades on this trading platform
- Traders can set their favorites on this trading platform. So you can have the best time trading all your favorite underlying assets
- In addition, several underlying assets are available on cTrader. It makes traders use the trading platform without worrying about any opportunity of missing out on placing a trade
- Traders can dig deeply into the market by using trading tools on cTrader
- This trading software also offers traders plenty of templates. So they can trade with the best trading tools
- Customizing trading indicators is another feature of cTrader. Besides, traders can access as many as 20 trading indicators on this software
So, the cTrader features are one reason many traders use it as the best of all MetaTrader 5 alternatives. This trading platform is widely accessible, as any genuine and leading broker would allow you to signup for it.
In addition, using cTrader does not require any cost. The platform allows traders to use it for free.
Good to know!
In addition, brokers might even charge you certain fees and commissions when you use cTrader.
(Risk warning: Your capital can be at risk)
3. ATAS – Professional trading at its best
Finally, ATAS is the last trading software or platform on the best MetaTrader 5 alternatives list. You can opt for this trading platform if you need something for professional trading. The benefits of using ATAS are immense. It is similar to the other two trading platforms we discussed.
Good to know!
That is why most traders prefer to trade on ATAS and consider it one of the best MetaTrader 5 alternatives.
ATAS is full of features that traders love using.
ATAS features:
- Market research becomes better by using the features that ATAS offers
- Traders can find several tools that come in handy when conducting technical analysis
- ATAS allows traders to dig deeper into the market to find the best underlying asset and whether it is worth it
- It has customizable features like cTrader and TradingView
- ATAS allows traders to place trades instantly. So, a trader can make an adept utility of time and enjoy trading with profit
- There are more than 15 indicators that you can find on ATAS
- All charts on ATAS are available in bar and line patterns. So, a trader gets a choice when using this trading platform. Besides, ATAS trading charts are easy to understand. So, a trader saves a lot of time by letting go of the complexities of trading
- This trading platform is quite affordable when compared to MT5. We ranked ATAS as the best of all MetaTrader 5 alternatives
- Swapping is possible on ATAS
- Systematic arrangement while trading is the best feature of ATAS. A trader can enjoy trading at his convenience when he uses ATAS
So, if a trader wants to try something other than MetaTrader 5, he can use ATAS. These three MetaTrader 5 alternatives make up for the loopholes that MetaTrader 5 displays.
Just like everything, MetaTrader 5 has several disadvantages that traders might know. Let’s discuss them.
(Risk warning: Your capital can be at risk)
Disadvantages of MetaTrader 5:
- When using the MetaTrader 5 trading platforms, traders cannot indulge in hedging. Hedging is an important practice in trading. And if a trader cannot indulge in hedging on MT5, it limits the use of the trading platform
- Coding of all trading indicators and expert advice in MQL5 is essential when using the platform. All this is nothing less than a hassle for traders
- A trader might be unable to open several positions using only one instrument. It is a great drawback of MT5, which is why many traders opt for MetaTrader 5 alternatives
- Besides, if a trader tries to open a new order or place a new trade, his previous order gets affected
- Windows Phone might not allow you to use the MT5 trading platform. It is because MT5 has no built compatibility with Windows phones. However, it works perfectly with Android and iOS
Conclusion – Choose one of the best MetaTrader 5 alternatives!
So, using MT5 might work for all traders. However, the MetaTrader 5 alternatives allow traders an easy way out. The good thing is that there is not just one MT5 alternative. There are many.
These three trading platforms make any trader’s trading experience the best. Additionally, these are available with almost all brokers, which makes them even more accessible.
So, you can try out one of these MetaTrader 5 alternatives and have a rich trading experience.
FAQs – frequently asked questions about MetaTrader 5 alternatives:
Why should I choose a MetaTrader 5 alternative?
MetaTrader 5 might not be able to fulfill all your trading requirements. That is why traders must choose a trading platform that covers the loopholes of MT5. For instance, you can indulge in hedging on MT5. However, the MT5 alternative might allow this practice.
Which is the best MT5 alternative?
The best MT5 alternative might be challenging to find. After all, traders can try no one but three MT5 alternatives. TradingView, cTrader, and ATAS are the best MT5 alternatives. They also fulfill all traders’ needs easily.
What should a trader consider in the MetaTrader 5 alternative?
The trader should consider the features offered by the MetaTrader 5 alternatives. For instance, tools, trading indicators, educational help, etc., are a few factors that traders must consider.
Last Updated on February 17, 2023 by Andre Witzel
