Meta Trader 4 or MT4 is arguably the largest trading platform in the world. And it is usually what most people run to when they want to trade Forex but there are some issues with MT4 that a lot of people don’t mention to you. There are things that are wrong with the platform as a whole.
I had my fair share of experience starting with me buying a windows laptop because they do not have an option for you to use their software on MacOS. After a couple weeks of using it, the slippage was absolutely outrageous. I would use $500 to get into a trade and I was down by $40 because the slippage was maddddddd. It happened a few times and then I just decided to cut the plug and pull my money out.
I then reached out to TD Ameritrade to start trading Forex with them. The application took a a few days but once all that was sorted and my account was funded, I was able to use their platform on my mac, windows and on my phone. So that was a huge plus.
The second thing I noticed was that the orders were better compared to using MT4. Same position size entered on a market order with TD Ameritrade as with MT4, the difference with that initial negative you will be in was night and day. On TD Ameritrade, it would show -$4 while the same exact trade on MT4 was -$10.
One might say well, its not much of a difference, but it is. In Forex, you end up making a lot trades in a year. And when you add all those together, it amounts to a decent amount which of course goes to your broker which means you are trading for your broker at that point in time.
Even testing the limit order on both, TD Ameritrade always had a better entry compared to MT4.
The one biggest problem with TD Ameritrade is that only people in the United States can open an account with them.