7 reasons why IQ Option exceeds MetaTrader (MT4 & MT5)
As you probably know, Metatrader 4 is the most popular Forex trading platform in the world. The “golden standard” of currency trading, however, does not lack a few flaws. In today’s article, we will compare MT4 and IQ Option to find out which of the two platforms is more intuitive, simple to understand and engaging in terms of Forex trading.
Interface – IQOption vs MetaTrader
Interface. As for the interface and the user experience in general, IQ Option is the absolute winner. It is significantly better than the simple, but very dated interface that MT4 offers. The IQ Option platform is built taking into account the most innovative technologies. The WebGL-based interface is simple and smooth, capable of transforming trading into an engaging activity and making the whole picture attractive. It is a particularly important feature if we think of those who engage in trading over prolonged periods of time.
Margin calls – IQOption vs MetaTrader
Margin. When working with IQ Option, you do not have to worry about margin calls. Despite the availability of a multiplier, the concept of margin is not present within the platform. The use of a multiplier, therefore, is simpler and more immediate for understanding. Furthermore, you do not have to calculate the margin you need to possess in order to open a transaction of a certain type. The whole process is extremely intuitive.
Leverage options – IQ Option vs MetaTrader
The multiplier (also known as leverage) is essential for success in FX trading. Currency pairs demonstrate limited movements even during periods of high market volatility. In order to capitalize on reduced price reductions, traders rely on the multiplier. The latter allows you to control positions that involve significantly higher amounts than the funds you have available.
With other brokers, the multiplier must be set only once. With IQ Option broker, however, you are free to select a single multiplier value for each operation you perform, which is especially advantageous when working with currency pairs. For example, if you are 100% certain that EUR / USD will go up, you will be able to use a higher multiplier than an operation whose outcome is not completely certain.
Slippage IQ Option vs slippage on MetaTrader
Slip. The slippage is the difference between the estimated price of an operation and the price at which the transaction is actually executed. It can spoil your trading experience and drain your investment in seconds. Imagine setting a stop-loss order at a price and seeing it run at a lower price. In the case of a long position, this can translate into a further loss (an experience that you would undoubtedly want to avoid). The IQ Option trading platform was designed to make the slide literally impossible.
Insight into transactions order book on MetaTrader and IQOption
Insight into transactions order book. Would you be able to analyze the market by observing the operations performed by other traders? No, if you are a MetaTrader fan and yes if you choose IQ Option. For some unknown reason, MetaTrader does not offer access to an order book. Although you can not view all the operations, with IQOption you can have a general impression of the market by activating the “Operations of other traders” feature in the trader room.
Lots. Lots have become synonymous with FX trading, as there is often no opportunity to trade currency pairs in any other way. The lot is a specific amount of currency that you must buy/sell in order to open an operation. A lot, based on its size, can be worth 100,000, 10,000, 1,000 and 100 units of currency.
What if you want to trade with a different amount of currency?
Using lots can limit your trading potential. With IQ Option broker you will be able to specify the amount of currency you wish to buy/sell, up to one unit.
Time frame. Another thing that many traders will find useful. On MT4 & MT5 the minimum interval is one minute. On IQ Option it is only 5 seconds. Even if you prefer to trade longer intervals, it is always an advantage to have the possibility to reduce the graph as much as possible. Obviously, this feature is tailor-made for those looking for additional and profitable trading opportunities.
IQ OPTION is a clear winner over MetaTrader taking into account the 7 features above.
As you can see, in some respects IQ Option clearly exceeds MetaTrader 4. Although it is the most popular Forex trading platform in the world, MetaTrader is difficult to recommend to traders who are facing the world of Forex for the first time. In addition, even the most experienced professionals can benefit from the versatile multiplier and slip-free trading.