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Jönköping Sweden
Posts: 30 since Feb 2023
Thanks Given: 12
Thanks Received: 15
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Metatrader 5 is the best platform for automation and testing of strategies (if you know how to code in mql5 that is). If you want to trade using your automated strategy but execute the orders on another platform, you can use a trade copier/bridge. (will give some latency though)
This being said, not all strategies can be coded.
An automated strategy can't feel the market in a discretionary way, you need a true/false or above/below strategy to begin with.
If you are into trading manually, other platforms will probably be better.
MT5 will look old in comparison since its a rather simple platform, the learning curve can be pretty steep on other platforms though.
There will be more bells and whistles on other platforms for manual trading, some of these b/w can be coded into MT5.
The latency can be better on other platforms, depending on your trading style this can be of importance.
There will probably be more pros/cons but this is just what I got on the top of my mind.
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