Among the many forex trading platforms, MetaQuotes’ MT4 was once the platform of choice for many traders, accounting for more than half of the market. But the market is not static.In 2016, MetaQuotes announced that it would no longer update the MT4 platform or patch new system vulnerabilities, a move that may eventually render it unable to keep pace with the rapidly evolving fintech and forex markets or meet traders’ latest needs. In 2017, MetaQuotes announced the discontinuation of MT4 sales, leaving traders with no choice but to purchase the platform on the secondary market for a time.Currently, due to MetaQuotes tightening its policies in the Southeast Asian market, some MT4 white-label solutions even face the risk of being discontinued. At the same time, because MT4 was released relatively early and is more compatible with 32-bit computer operating systems, various issues have emerged with the use of MT4 software as operating system environments have evolved.
The rise of fintech companies such as Leverate has provided traders with more choices for forex trading platforms, and other well-known forex trading software, such as Sirix, has gradually emerged as a strong competitor to MT4. This article will provide a comparative analysis of MT4 and Sirix.
Overall, MT4 offers a wealth of trading features but is a relatively complex piece of software; novice traders need to spend considerable time fully learning its functions and operations before they can use it proficiently.Sirix, on the other hand, is dedicated to creating a user-friendly trading environment for traders, offering clear charts and an intuitive interface that allows traders to use the software with ease without spending a great deal of time learning it.
In terms of software services, Sirix offers traders SaaS (Software-as-a-Service) solutions. The software provider performs regular maintenance and management, maximizing the platform’s concurrency and enabling more efficient use of system resources. Common forex SaaS products include CRM systems. MT4, however, does not provide this service.At the same time, in addition to regular business hours, Sirix provides traders with 24/7 real-time support, ensuring that traders can resolve any issues they encounter during trading at any time. The MT4 trading platform, however, only offers online support.
A trading platform should grow alongside its traders. In terms of educational resources, MT4 provides traders with learning materials in text format.In comparison, Sirix offers more comprehensive educational resources. In addition to written materials, it provides video tutorials and live instruction for novice traders. Traders can learn various trading strategies and terminology in the platform’s Education Center, helping them build a solid theoretical foundation and, in turn, make more rational trading decisions.At the same time, traders can view the trading records of other traders on the Sirix platform, engage in copy trading or follow trades, and decide for themselves the number of lots to buy each time—making it ideal for novice traders.
In terms of functionality, MT4 is indeed an excellent forex trading platform; however, it is limited to trading forex and CFDs (Contracts for Difference) and does not support multi-asset investing.For traders seeking multi-asset investment opportunities, Sirix provides multi-asset liquidity, allowing traders to simultaneously trade investment products such as stocks, bonds, and cryptocurrencies.
In terms of software performance, while MT4 is a powerful trading platform, its execution speed is relatively slow. MT4 can process a maximum of approximately 5,000 orders per second.During peak trading hours when order volume is high, traders often have to wait in line. This can lead to market price fluctuations, preventing traders from executing trades at the optimal moment. In contrast, the Sirix platform boasts high system performance, ensuring that traders’ orders are executed at high speed even during peak hours, without delays or lag.
