Platform range is a proxy for something else
Counting platforms sounds like a shallow metric, and on its own it is. What makes it useful is what a broker has to do to support several. Each terminal needs a bridge to the broker's pricing and risk systems, ongoing engineering to keep it working, and support staff who know it. A broker connecting five platforms has made a durable investment in infrastructure; a broker offering one white-labelled MT4 has bought a product.
It also changes what happens if you leave. A strategy built in MQL runs on MT4 anywhere; a strategy built on a broker's proprietary terminal is an asset that broker owns. Traders who have migrated once tend to weight this heavily and traders who have not tend to ignore it entirely.
What to check before committing to a platform
- Can the strategy you run be exported — MQL and cTrader Automate are portable, proprietary scripting usually is not.
- Does the broker offer TradingView as a connection, or only as a chart embedded in its own site?
- Is FIX API available on a retail account, or only above an institutional minimum?
- Does the mobile app place and manage orders, or only monitor them?
MetaTrader is the floor, not the ceiling
Every broker in this table offers MT4, MT5 or both, and that is exactly why the count starts above them. MetaTrader's dominance is a network effect: it is what indicator authors write for, what VPS providers optimise for, and what most traders already know. Its weaknesses — a dated interface, limited native depth of market, an execution model that hides much of the routing — are tolerated because the ecosystem around it is unmatched.
The platforms that add genuine capability on top are a short list. cTrader exposes order book depth and handles partial fills more transparently. TradingView brings charting and a scripting language that most traders find more approachable than MQL, and increasingly acts as the front end while the broker handles execution behind it. FIX API removes the terminal entirely for anyone building their own systems. A broker offering all three has covered the meaningful range; a broker offering six variations of MetaTrader has not.
A platform is only as good as the account behind it
cTrader on a marked-up spread account will not give you the depth-of-market advantage cTrader is chosen for, and TradingView connected to a dealt account is charting software. Match the platform to an account type whose execution model actually uses it.
The tools that are worth checking separately
Analysis add-ons are the least standardised part of a broker's offering and the easiest to overstate. Autochartist and Trading Central are licensed third-party services appearing under many brands, and their presence tells you the broker pays for a data feed rather than that it has research capability. Free VPS provision is more concrete and more valuable to anyone running automated strategies, because it removes the largest single point of failure in a home setup — the connection between your machine and the broker.
Depth of market and Level II data deserve particular attention because their availability is account-dependent almost everywhere. A broker that advertises depth of market usually means it on ECN or DMA accounts, and the client on the default account sees an aggregated top-of-book quote like everyone else.
Common questions about platforms
Should I choose MT4 or MT5?
If you depend on a specific indicator or expert advisor, choose the one it was written for — they are not compatible. Starting fresh, MT5 is the better engine, with more timeframes, a real economic calendar and proper handling of non-forex instruments.
Is TradingView through a broker different from TradingView alone?
Yes. The connection lets you place and manage live orders from the chart rather than switching to a terminal. The charting itself is identical, and the broker connection does not require a paid TradingView plan for basic use.
Do I need FIX API?
Only if you are building your own execution system. For everything else it adds complexity without benefit, and brokers usually gate it behind higher minimums for that reason.
Does a proprietary platform mean the broker is dealing against me?
Not by itself — IG and Saxo build their own terminals and are among the most heavily supervised firms here. It does mean your workflow is not portable, which is a real cost when you want to change broker.