Chapter
15-20 min

Chapter 4: How to Choose a Reliable Platform

Your platform is your working tool. It determines the stability, speed, and security of your trading.

4.1

Overview of Popular Platforms

There are several trading platforms available, each with different features, automation support, and ecosystems. Here's how the main platforms compare:

⭐ Recommended
MetaTrader 5
Flagship platform from MetaQuotes for manual and algorithmic trading.
EAs: FullTester: AdvancedCopy: YesLicensed
Desktop, Mobile, Web

Advantages

  • •MQL5/EA support with advanced multi-threaded/genetic testing
  • •DOM, economic calendar, large marketplace
  • •21 timeframes, 80+ indicators, netting/hedging

Drawbacks

  • •Best experience on Windows
  • •Mac/Linux require wrappers or Wine
Learn More About MT5
Legacy
MetaTrader 4
Previous version with huge legacy of indicators and advisors.
EAs: LimitedTester: BasicCopy: YesLicensed
Desktop, Mobile, Web

Advantages

  • •Familiar to many traders
  • •Lightweight and simple

Drawbacks

  • •Legacy API, missing MT5 features
  • •Limited strategy tester capabilities
cTrader
Modern platform with cTrader Automate (C# based).
EAs: Yes (C#)Tester: AdvancedCopy: YesLicensed
Desktop, Mobile, Web

Advantages

  • •User-friendly interface
  • •C# / Visual Studio integration

Drawbacks

  • •Smaller codebase/marketplace
  • •Different stack (not MQL5)
TradingView
Top charting and analysis tool; trading via connected brokers.
EAs: No (Pine Script)Tester: BasicCopy: LimitedVia brokers
Desktop, Mobile, Web

Advantages

  • •Pine Script, huge community
  • •Best-in-class charting and technical analysis

Drawbacks

  • •No native EA support
  • •Auto-trading requires external integrations
4.2

MetaTrader 5 — In-Depth Overview

Why MetaTrader 5?

MT5 is the industry standard for automated trading. It combines stability, comprehensive strategy testing, and a huge MQL5 ecosystem. For EASY Bots, it's the foundation: we optimize .set files, and you manage risk locally.

History & Maturity
Developed by MetaQuotes since 2010, MT5 has a mature ecosystem with continuous updates and improvements for professional traders.
Regulation & Licensing
MT5 requires broker licensing and regulatory compliance, providing transparency and security for your trading operations.
Functionality
21 timeframes, 80+ built-in indicators, DOM, copy-trading, economic calendar, and support for both netting and hedging modes.
Algorithmic Trading
MQL5 language, Strategy Tester with multi-threaded optimization and genetic algorithms, plus a large marketplace and code library.
Device Support
Desktop (Windows native; Mac/Linux via wrappers), iOS/Android apps for monitoring and manual trading, plus WebTerminal access.
Account Security
In MT5, you run EAs locally: keys and risk management are under your control, not in the cloud. This reduces platform-level risks.

What You Get with MT5:

  • Deep strategy testing and optimization with genetic algorithms
  • Connect EAs and indicators from a vast MQL5 ecosystem
  • Transparent execution with regulated broker compatibility

MT5 Interface Screenshots

Explore the key features and interface elements of MetaTrader 5:

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4.3

The Danger of Fraudulent Platforms

How to Recognize a Scam Platform

Be vigilant. If you see any of these warning signs, proceed with extreme caution:

Why Scammers Avoid MetaTrader 5

Fraudulent brokers prefer proprietary platforms because they can manipulate the environment. MT5 makes this nearly impossible:

Real Liquidity Required
MT5 requires connection to actual liquidity providers and compliance with execution protocols. No fake quotes or phantom liquidity.
Hard to Manipulate
Price feeds and execution are transparent. Scammers can't easily manipulate quotes or trigger stop-losses artificially.
Regulatory Control
Regulators audit MT5 brokers. Transparent execution logs and reporting requirements deter fraudulent activity.
Significant Costs
MT5 licensing, infrastructure, and compliance are expensive. Scammers prefer cheap proprietary solutions they fully control.

Legitimate vs Scam Platforms

Quick comparison to help you identify red flags:

Platform

Legitimate

MT5, MT4, cTrader

Scam

"Proprietary" web platform only

Regulation

Legitimate

FCA, CySEC, ASIC, etc.

Scam

No license or offshore

Deposits/Withdrawals

Legitimate

Clear, fast, transparent

Scam

Delays, hidden fees, verification issues

EA Support

Legitimate

Full MQL5/cBots support

Scam

None or very limited

Trading Conditions

Legitimate

Transparent spreads/commissions

Scam

Hidden costs, manipulated execution

Reviews/Transparency

Legitimate

Independent reviews, long history

Scam

Fake reviews, new domain, no history

Contact/Legal

Legitimate

Real address, phone, compliance docs

Scam

No real contact info or legal entity

4.4

Why Mobile Platforms Don't Support EAs

Expert Advisors (EAs) are full-featured programs requiring constant 24/5 execution, file system and network access, and tick-by-tick event processing. Mobile operating systems are fundamentally incompatible with these requirements.

Why EAs Need Desktop or VPS

  • •24/5 Execution: EAs must run continuously to catch every market tick and execute trades instantly. Mobile apps sleep aggressively to save battery.
  • •Resource Access: EAs need file I/O for logs, settings, and data storage. Mobile OSs restrict background file and network access.
  • •Process Management: Mobile operating systems kill background processes to optimize performance, breaking the EA's ability to monitor the market autonomously.

Even if your mobile terminal shows positions and signals, the autonomous EA logic must run on a persistent host (desktop PC or VPS).

The Solution: Desktop MT5 or VPS

For reliable EA operation, you need a stable environment that's always online. Here are your options:

Desktop MT5 (24/7 PC)
Run MT5 on a dedicated Windows PC that stays on 24/5. Suitable for home setups with reliable power and internet.
VPS (Virtual Private Server)
Rent a cloud VPS optimized for MT5. Always online, ultra-low latency, no power/internet interruptions. Recommended for serious traders.
Go to Chapter 7: VPS Setup GuideEA Installation GuideQuick Start Demo

How It Works

EA on Desktop/VPS

Always running

↔

Broker Server

MT5 execution

↔

Mobile App

Monitor & manage

Your EA runs on a desktop or VPS, communicates with the broker's MT5 server, and you monitor everything from your mobile device. Best of both worlds.

Risk Warning

Trading involves significant risk of loss. Past performance does not guarantee future results. The information provided is for educational purposes only and should not be considered financial advice.

Not Financial Advice

All materials are educational. Trading decisions and their consequences are your responsibility. Always conduct your own research and consider consulting with a licensed financial advisor.

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