Prop trading challenges give you a chance to show a proprietary trading firm that you have the skills that it takes to make a consistent profit from the financial markets whilst using good money management. If you pass a prop firm evaluation phase, they can give you access to funded account and share of any profits that you generate. In order to improve your chances of passing the prop firm challenge, you will need a trading platform that you are familiar with, such as MetaTrader.
Prop Firms That Use MetaTrader
Our Top Prop Trading Firms with MetaTrader
FTMO Review
DNA Funded Review
Fintokei Review
E8 Funding Review
Prop Firms That Use MetaTrader
Comparison Table of Prop Firms with cTrader
Prop Firms That Use MetaTrader
FTMO
With MT4, MT5, and cTrader accounts, which are all powered by data feeds directly from a pool of premier liquidity providers, FTMO give the greatest trading conditions to all of their clients. With extremely cheap commissions, no mark-up, and super-raw spreads on all demo trading accounts, they try their best to replicate the actual market conditions.
FTMO Editor choice
Prop Firms That Use MetaTrader
The Funded Trader
You can trade on both of the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms via desktop, web and mobile with The Funded Trader. Commissions on the platform are $5 per standard lot roundtrip for all asset classes currently offered.
The Funded Trader
Prop Firms That Use MetaTrader
SurgeTrader
The Eightcap MT4 or Eightcap MT5 trading platforms are available to traders on SurgeTrader, with MT5 giving a greater selection of specific stocks and shares. Their partner broker Eightcap are regulated and offer all platforms and products with top class trading conditions.
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E8 Funding
E8 Funding currently offer MT4/MT5 web trader, IOS and Android app as well as MT4/MT5 desktop applications. You trade using the liquidity that is made available by the prop firms liquidity providers. Through the E8 MT4 Server, which they only use to collaborate with Tier-1 institutions, you may get minimal spreads with a commission and reliable execution speeds.
E8 Funding
Prop Firms That Use MetaTrader
What is MetaTrader?
MetaTrader is the industry standard forex and CFD platform for buying and selling financial instruments. It is popular amongst retail traders all around the globe that want to speculate on falling or rising prices, trying to make a profit of the difference in price from when they open and close their traders. There is the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platform, both of which are provided by some of the best prop firms you can find.
MetaTrader includes several trading tools and capabilities that other platforms lack, in addition to being simple to download and install. Track changes in instrument prices, look at the graphs and charts, and map the patterns to find the trades you want to make. The following graphs are displayed and supported by the platform: Line charts, bar charts, Renko, Heikin Ashi, and Candlestick charts. Your trading orders may be easily set up, and predetermined stop losses and targets are instantly carried out. The pending orders and trailing stop loss are equally accessible.
By employing scripts that have been uploaded to the site and whose instructions are simple to follow, expert advisors (EAs) can automate your trading. This prevents you from having to always be near your computer or from missing a trading chance. The platform provides a convenient capability to monitor your transaction history, allowing you to learn from your trading mistakes.
With these features the MetaTrader 4 is really enough for prop trading however for more advance strategies the MetaTrader 5 would be the alternative option.
Prop Firms That Use MetaTrader
MetaTrader 4 vs MetaTrader 5 For Prop Trading
Both MT4 and MT5 are the official versions created and distributed by MetaQuotes Software. While the previous MT4 platform is seen to be preferable for trading forex, the newer MT5 version is thought to be superior for managing orders and trading stocks. In actuality, few retail traders will distinguish much of a difference between the two platforms. Both of them offer the fundamental characteristics and trading capabilities required for profitable trading.
| Feature | MT4 | MT5 |
|---|---|---|
| Availability to brokers | Very popular | Very popular |
| User-friendly and easy to navigate | Extremely easy | Extremely easy |
| Roll-over and Hedging | Possible | Possible |
| Programming Language used | MQL4 | MQL5 |
| Number of order execution types | 3 | 4 |
| Number of Pending Order Types | 4 | 6 |
| Depth of Market | No | Yes, but not available from beginning |
| Technical Indicators | 30 | 38 |
| Timeframes | 9 | 21 |
| Economic Calendar | Not Available | Available in MT5 apps |
| Reports | Tables only | Tables + Charts Everything can be exported to Excel |
| Open Trades View | Lots only | Lots, Quantity + Milliseconds |
| Docked Charts | Not available | Available |
| Market Watch | Less detailed | More details + easy navigation |
| Partial Order Filling | Not available | Available |
| Email System | No attachments | With attachments |
| Strategy Tester | Single threaded | Multi-threaded + Multi-currency + Agent manager |
| Netting | Not supported | Not supported |
| Exchange Trading | Not supported | Not supported |
| Funds Transfer between Accounts | Not supported | Supported |
Although being marketed as being far more sophisticated than its predecessor, MetaTrader 4, MetaTrader 5 is not that much different. You’ll discover things like more sophisticated trade charting systems and in-depth analytical tools. Although if the MT4 platform is more than enough for forex traders, using MT5 would be the best option if these two features would enhance your trading abilities. As traders are happy with MT4’s present capabilities and it is still the most downloaded and utilised platform, there is no need to update or upgrade.
Prop Firms That Use MetaTrader
MetaTrader Pros & Cons
Prop Firms That Use MetaTrader
Final Thoughts
If you are looking for prop firms that use MetaTrader 4 or 5 platforms, then you certainly aren’t going to be short of options. MT4 and MT5 are the most widely available platforms and still favourites amongst beginner and experienced traders alike. They can cater to all manual and automated trading strategies which can help you to pass your prop firm challenge. There are thousands of free and paid tools you will find to further enhance the MetaTrader platforms capabilities, including prop firm EAs. There is a reason why the majority of trading brokers provide either MT4, MT5, or both.
