Today it is impossible to imagine trading on the stock exchange without special terminals – programs that allow you to conclude deals from anywhere, using modern tools for market analysis. Such a demanded niche could not remain without competition – there are many platforms of varying degrees of complexity. In the struggle for power, two representatives stand out – QUIK and MetaTrader 5. An overview of the advantages and main functions will help you make your choice.
MetaTrader 5: Features and Benefits
A universal product from MetaQuotes Software Corp. For many years it has been captivating with its functionality – both currency and stock markets are available for trading. Thanks to its simple interface and a wide range of analytical tools, the program has gained popularity among brokers in many countries.
The platform allows you to use two classical approaches for analysis – technical and fundamental. The first is represented by numerous tools, both basic and additionally developed by users.
The standard equipment includes:
- Three types of charts – bar, line, Japanese candlesticks;
- Timeframes – hourly, minute, daily, weekly and monthly – only 21;
- Indicators – from various types of moving averages to Alligator and Awesome Oscillator, described by Billy Williams.
MT5 allows you to use multiple indicators and charts at the same time, overlaying them. The resulting tools can be saved as templates for easier work in the future.
You can expand the number of tools by accessing a special library. Also in the terminal there is MetaEditor, which allows you to independently develop and use additional indicators and advisors without deep knowledge of programming.
An economic calendar and a built-in news feed are available for fundamental analysis, which displays the main financial news in real time.
The possibility of copy trading through the Trade Alerts service is in demand, which allows using a subscription to repeat the transactions of selected traders, and one-click trading conducted directly from the chart.
The platform has six types of pending orders, which makes trading more flexible. They include Buy Stop Limit and Sell Stop Limit, which allow setting additional conditions for order execution.
The smartphone version retains full functionality. Available for two major operating systems – Android and iOS.
QUIK: functionality and benefits
The program, originally from Novosibirsk, was developed by ARQA Technologies. Allows you to trade in the foreign exchange, derivatives and stock markets. Having seen the working interface for the first time, you can get confused – a huge number of menu settings cannot be mastered without a user manual. But, once having penetrated and edited the functionality for yourself, you will no longer want to change the program.
The terminal has the necessary tools for technical and fundamental analysis. The news feed, many tables and graphs allow you to create the most convenient analytics system. There is not only a lot of tables, but also the ability to change them to suit the specific wishes of the user.
Built-in charts, in addition to adding more than 40 types of indicators, can be changed according to various parameters:
- Colour;
- Lines;
- The number of candles;
- Timeframe;
- Overlay of graphs in one window.
Often such convenient functions have to be looked for in numerous pop-up menus, but the created analytical systems are saved and available for copying. Thanks to the presence of bookmarks for tools, it is possible to customize several working windows and quickly switch between them.
The built-in Qpile language is intended for writing personal trading robots. It is possible to export data to Excel and other programs to prepare the necessary statistics.
The presence of hot keys duplicating certain actions significantly speeds up the work process. You can independently create combinations for demanded operations.
The mobile application is limited in functionality compared to the computer version. There is no possibility to install additional indicators. The smartphone screen is too small for full-fledged trading. There is a news feed, work with pre-installed instruments, depth of market, work with standard orders, similar to those used on a PC. You can also view data about your portfolio.
QUIK is famous for its security – there are several levels of protection, and all transactions are signed with an electronic digital signature.
QUIK vs MetaTrader 5
When comparing the functionality of two well-known platforms, the conclusion suggests itself that there are not so many differences. Both terminals:
- Universal, used for trading in several types of markets;
- Include technical and fundamental analysis;
- Have a sufficient number of built-in tools – tables, charts and indicators;
- Use their own services for self-development of advisors;
- Using the news feed, they allow you to follow significant economic events;
- The Depth of Market is displayed in the working area.
Pros of MT5: intuitive interface, free license, many free training materials and tools, wide range of timeframes. Its mobile version also looks more interesting, although there are few people willing to trade on the exchange exclusively via a smartphone. Novice traders will find MetaTrader clearer than its competitor.
QUIK attracts with the possibility of customizing the workspace, enhanced protection, high-speed performance and data export to other programs. An additional bonus will be the presence of an options board. This platform is more likely to suit experienced traders with already formed preferences in working instruments, allowing you to create the most convenient trading conditions.
When choosing which is better – QUIK or MetaTrader 5 – one should not always rely on scanty descriptions of functionality. After all, trading is not only dry numbers, but also a creative approach in finding the best tools. And here the comfort of the workspace is especially important.
