Traders choose an alternative to MetaTrader when they want a more modern interface, better mobile access, and more powerful trading tools and features that go beyond standard platform functionality.

Traders have two choices when looking for a platform: Third-party platforms like MetaTrader 4/5 or cTrader, or trade on a broker's proprietary trading platform.

Third-party platforms are the simplest option, as most brokers support them and traders can switch to another broker without changing platforms. However, they often have limited charting functionality and rely on outdated technology.

For those reasons, the recommended path for traders is to use a online trading broker like ThinkMarkets that offers its own advanced proprietary trading platform.

ThinkTrader could be the best option. Unlike third-party platforms, ThinkTrader is a complete trading platform built for traders by traders. That means:

Modern and powerful charting functionality, powered by TradingView
Access to up to 4,000 instruments across forex, indices, commodities and more
Exclusive risk management tools like Traders' Gym for backtesting and TrendRisk Scanner for trading opportunities
Multi-screen display, with up to 8 screens on web and 4 screens on mobile
Seamless access on web or mobile on iOS and Android

Decide what type of trading platform you want

Third-party platforms (simplest option, but less user friendly)

Easy to access and widely available among different CFD brokers
Downside: Clunky interface and difficult to use with less advanced tools

Proprietary trading platforms (recommended for improved functionality)

More advanced technology and an easier-to-use interface
Requires trading with the broker that owns the platform

Assess the available options

Third-party platforms

MT4: A tried and tested platform offering basic charting and technical analysis tools along with Expert Advisor compatibility, but utilises outdated technology and a less intuitive interface.

MT5: The latest MetaTrader platform with improved trading tools, wider market access and Expert Advisor compatibility, but remains complex and can be overwhelming for less experienced traders.

cTrader: Offers a clean, modern interface with basic charting tools, but isn't as widely used by traders or offered by brokers compared to MetaTrader.

Proprietary trading platforms

ThinkTrader: A modern, advanced trading platform available on web or app, offering exclusive tools like Traders' Gym and TrendRisk Scanner. However, it doesn't support automated trading and can only be accessed with the broker offering it, ThinkMarkets.

Other proprietary platforms: Modern trading platforms built by brokers, offering basic tools and features, but requiring traders to stay with the broker to continue using them.

Key platform considerations

When choosing a platform there a few important things to consider:

Ease-of-use: Is the platform easy to navigate and execute trades on? Does it also offer convenient access? Look for platforms that are not only available on web or desktop, but also on iOS and Android, to enable trading on the go.

Market access: Does the platform offering the markets you want to trade? Choose a platform that offers access to a wide range of instruments across multiple markets like forex, indices, stocks, commodities, and more.

Charting tools: Look for advanced, easy to use charting tools that make analysing price movements simpler. Outdated charting tools will make it more difficult to perform effective analysis and make informed trading decisions.

Risk management tools: Mitigating risk is essential to successful trading, so choose a platform that offers important tools like backtesting, stop loss and take profit orders, leverage controls, and position sizing tools.

Execution: The handling of your orders can have a big impact on overall trade performance. Always ensure you a choose a platform with fast execution speeds (under 150ms), high fill rates, and strong platform uptime.

Why proprietary platforms like ThinkTrader can be a better option

ThinkTrader is widely recognised across the industry as one of the leading trading platforms, supported by positive trader reviews and recognition from industry awards. With an intuitive interface, wide market access, advanced charting powered by TradingView, and exclusive trading tools, it offers everything traders need to make informed trading decisions.

Here's how ThinkTrader's features compare to MetaTrader 4 and MetaTrader 5:

	ThinkTrader	MT4	MT5
Number of instruments	4,000	350	1,800
TradingView charting	✔	✖	✖
Traders' Gym	✔	✖	✖
TrendRisk Scanner	✔	✖	✖
Signal Centre	✔	✔ (download required)	✔ (download required)
Mobile app	✔	✔	✔
Multi-screen display	✔	✔	✔
Detachable charts	✔	✔	✔
Economic calendar	✔	✔	✔
One-click trading	✔	✔	✔
Custom watchlists	✔	✔	✔
Automated trading	✖	✔	✔

Getting set up with the right platform

Choose a platform like ThinkTrader that offers a more advanced trading experience
Open a demo or live ThinkTrader account with ThinkMarkets
Meet the minimum deposit amount of $50
Begin trading on web or mobile app

Trading Tools