Due to these differences between MetaTrader Web Terminal and desktop applications, the rapid changes of the online trading world push traders toward increasing efficiency and security and giving maximum outcome during the trade.
In this article, we look in depth at the key differences between the MetaTrader web and desktop platforms, comparing their usability, accessibility, features, performance, and security. Whether you are a beginner looking for the easiest way to start trading or an experienced trader looking for a more sophisticated trading environment, understanding these platforms will help you make an informed decision on which best suits your trading style.
What is MetaTrader?
MetaTrader is a multi-asset trading platform developed by MetaQuotes Software, which dominates the financial markets.
It enables trading in a wide range of instruments, including forex, commodities, indices, and cryptocurrencies, while allowing users to analyze markets, run automated trading strategies, and execute orders in real-time.Â
The core elements of the platform, MT4 and MT5, are both available as desktop applications and web-based platforms to cater to different traders’ needs.
Both versions of MetaTrader have the same core functionality but are accessed and used in very different ways. Let’s take a closer look at these differences.
Overview of MetaTrader Web Platform
The MetaTrader web platform is a web-based version of the desktop platform. It is browser-based, meaning that you can access it from any computer or device with an internet connection without installing any software. This platform provides a quick and easy way to trade on the go, making it a convenient option for those who prefer not to download or install heavy software on their devices.
The MetaTrader web platform allows traders to access most of the features available in the desktop version, including real-time price quotes, interactive charts, technical analysis tools, and order execution. The major advantage of the web platform is that it can be accessed from virtually anywhere with an internet connection, which is especially beneficial for traders who need to monitor markets from different locations or while traveling.
Overview of MetaTrader Desktop Platform
The MetaTrader desktop platform, available on both Windows and macOS, is the traditional version of the platform with which traders have been familiar for years. It’s a self-standing application that a user needs to download and then install on their computer. Upon installation, the trader will get access to an entire suite of tools, including advanced charting options, automated trading through Expert Advisors (EAs), and multiple technical indicators.
Professional traders widely use the desktop platform due to its rich functionality and extendable capability. It is more stable and faster than the web platform, especially if one deals with elaborate trading strategies or big volumes of data.
Key Differences Between MetaTrader Web Platform and Desktop Platform
Having acquainted ourselves with both platforms, it’s time to look into the key differences between them. These differences will show you which platform is more appropriate for your trading needs.
1. Accessibility and Convenience
MetaTrader Web Platform:
One of the most striking features of the MetaTrader web platform is its accessibility. Since this is a browser-based terminal, you can access it from any device with an internet connection.Â
That makes this platform perfect for traders on the go or those who do not want to wrestle with software installation. What’s more, the web terminal is cross-operating-system compatible, meaning that Windows, macOS, and Linux users can all easily use it.
MetaTrader Desktop Platform:
The desktop platform, in turn, must be installed on a certain device. This may be less convenient for traders who need to change their devices often enough, but at the same time, the environment for trading will be more stable and powerful.Â
If installed once, it always is and does not depend on any browser or Internet connection to keep it open, except the market data feed.
2. Performance and Speed
MetaTrader Web Platform: Since the web platform is opened in a browser, its performance depends on several factors: the speed of your internet connection and the performance of the browser itself.
In some cases, traders may experience slight delays or lag when executing orders, particularly in fast-moving markets. This can be a disadvantage for those who rely on fast execution for their trading strategies.
MetaTrader Desktop Platform:
The desktop platform usually has better performance because it is installed directly on your computer. It runs smoother and will not be as easily impacted by issues with the internet or limitations of a browser.
This makes it a preferred choice for high-frequency traders or those who use complex automated trading systems, which require fast and reliable performance.
3. Features and Customization
MetaTrader Web Platform:
It comes with almost all the basic features provided on the desktop platform: real-time price quotes, advanced charting tools, and access to your trading account. Nevertheless, a few limitations relate to the advanced features available and customization. For instance, not all of them provide support for EAs or even custom indicators. Also, some advanced charting tools and indicators may not be quite intuitive or simply absent in the web version.
MetaTrader Desktop Platform:
The desktop version of MetaTrader is a lot more feature-rich and customizable. Traders can install all sorts of custom indicators, EAs, and scripts to automate their trading or enhance their technical analysis. The desktop platform offers more advanced charting tools; for example, traders will be able to manipulate chart data in more complex ways. This flexibility is one of the main reasons professional traders prefer the desktop version.
4. Security
MetaTrader Web Platform:Â
Web platforms rely on browser and website security, often using encryption, but remain vulnerable to browser-based attacks and phishing.
MetaTrader Desktop Platform:
The desktop platform benefits from being directly installed on your computer, which can provide more robust security features. Traders can use third-party antivirus and firewall software to protect their devices, and because the platform operates outside of the browser environment, it is less exposed to common online threats. Moreover, the desktop platform often provides more options for encryption and security protocols for protecting sensitive information.
5. Trading Experience
MetaTrader Web Platform:
The trading experience on the web platform is generally user-friendly but feels a bit limited for the more advanced trader. The interface of the platform is relatively straightforward and easy to use; hence, it could be considered the most suitable for beginners or people who like simplicity. At the same time, it may not offer as much depth and complexity as its desktop version.
MetaTrader Desktop Platform:
The desktop platform provides a lot more depth in its trading environment, though at the price of a more significant learning curve. Advanced traders appreciate the abundance of tools they have at their command-from automated trading to custom indicators and advanced charting capability. The desktop platform allows the opening of several charts and windows, thereby making such monitoring easier.
6. Compatibility with Expert Advisors (EAs)
MetaTrader Web Platform:
The web platform does not support Expert Advisors, which are automated trading scripts that can execute trades on your behalf based on predefined rules. This is a big limitation for traders who rely on automated strategies or want to implement advanced trading algorithms.
MetaTrader Desktop Platform:
In contrast, the desktop platform fully supports Expert Advisors and allows traders to automate their trading strategies. This feature is particularly beneficial for traders who cannot monitor the markets 24/7 and want to take advantage of algorithmic trading.
7. Updates and Maintenance
MetaTrader Web Platform:
The web platform is automatically updated from the MetaQuotes server, so you do not need to download and install updates yourself. This way, you will always work in the latest version of the platform with all the newest features and security patches.
MetaTrader Desktop Platform:
While the desktop platform also gets updates, these have to be downloaded and installed manually. Depending on your system settings, the updates may not install automatically, and you need to stay on top of new releases to ensure that your platform is updated.
8. Cost
MetaTrader Web Platform:
The web platform is generally free to use, just like the desktop version. However, since the web version does not support all the advanced features of the desktop version, you may find yourself missing out on certain tools and capabilities unless you opt for a desktop solution.
MetaTrader Desktop Platform:
The desktop platform is also free to use, but some features, such as custom EAs or advanced charting tools, may require additional purchases or subscriptions. However, for most traders, the desktop platform provides enough functionality at no extra cost.
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Frequently Asked Questions (FAQs)Â
Is it possible to work with Expert Advisors on the MetaTrader web platform?
- No, it is not possible to work with Expert Advisors using the MetaTrader web platform. Expert Advisors are only available with a desktop version of MetaTrader, where you can automate your strategy and set up a trading algorithm with custom settings.
Which platform is better for beginners, the web platform or desktop platform?
- The web platform of MetaTrader is generally more user-friendly and accessible for beginners. Since it requires no installation and includes key trading tools like price charts and order execution, it’s beginner-friendly. For advanced strategies, the desktop platform offers extra features beginners can learn over time.
Can I access the MetaTrader web platform on a mobile device?
- Yes, you can access the MetaTrader web platform on any device with a browser, be it a smartphone or a tablet. It’s simple to handle positions and place orders while away from your place of work. For mobile devices, however, MetaTrader also provides dedicated applications, MT4 and MT5, which might be more suitable than the web version for these devices.
Can I trade on both the MetaTrader web platform and desktop platform simultaneously?
- Sure, you can trade on the web version and desktop application simultaneously. Your trading account and positions are synced across MetaTrader’s desktop and web platforms, allowing you to switch seamlessly. Use the web for market observation and the desktop for complex strategies.
