Ontario’s Investment Opportunities: Forex Trading And Mining Tips

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Ontario’s Investment Opportunities: Forex Trading And Mining Tips – Every so often, we post articles that we think you might find useful and will help you grow as a trader.

In the fast-paced world of forex trading, having access to a reliable and efficient trading platform is essential to your trading success. Among the titans of the forex trading platform world, two names stand out: cTrader and MetaTrader 4/5 (MT4 and MT5). This platform has gathered a wide user base and gained a loyal following.

Ontario’s Investment Opportunities: Forex Trading And Mining Tips

Ontario's Investment Opportunities: Forex Trading And Mining Tips

In this article, we will learn the intricacies of each platform, compare their features, advantages, and limitations, to help you determine which platform is right for you.

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MetaTrader is the brainchild of MetaQuotes Software. The company introduced the first version, MetaTrader 4 (MT4), in 2005. Its successor, MetaTrader 5 (MT5), followed in 2010, bringing a host of new features and capabilities to the table.

CTrader was launched by Spotware Systems Ltd. in 2011, aiming to provide traders with a platform that offers a user-friendly interface and advanced functionality. cTrader’s main focus is to create a seamless trading experience for both novice and experienced traders.

One of the most important factors in the popularity of trading platforms is the user interface (UI). Although MT4 is a bit outdated compared to cTrader’s modern design, both offer a clean and intuitive interface, making them easy for traders to navigate. However, they have different approaches when it comes to customization.

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CTrader leads the way in UI customization, allowing traders to extensively customize the workspace. Users can manage and resize multiple windows, add or delete trading indicators, and set multiple charts on one screen. This level of flexibility empowers traders to create an environment that suits their specific trading needs.

On the other hand, MetaTrader, especially MT4, has a more rigid UI, with limited customization options. While MT5 improves in this aspect, it still lags behind cTrader’s superior customization features.

In terms of charting and technical analysis, both platforms deliver powerful solutions. Traders can access a wide variety of chart types, timeframes, and charting tools in cTrader and MetaTrader.

Ontario's Investment Opportunities: Forex Trading And Mining Tips

CTrader stands out with its intuitive charting package, providing more than 70 pre-installed indicators and a smooth graphical experience. It also offers Level II price data with its 3 types of depth of market (DoM) (Standard, Price, VWAP), giving traders greater insight into market depth and liquidity.

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MetaTrader, however, remains a popular choice for technical analysis enthusiasts, thanks to its massive library of third-party indicators and analytical tools. This dynamic community-driven ecosystem ensures that traders have access to an extensive arsenal of tools to refine their strategies.

Technical Indicators: 30 built-in technical indicators. Furthermore, traders can explore over 2,000 free custom indicators and access 700 premium indicators available in the Code Base.

Chart Display: The platform allows traders to open an unlimited number of charts simultaneously. Moreover, traders can personalize their charts by creating templates that specify specific attributes such as color schemes, chart types, scales, line studies, and applied indicators.

Chart Types: cTrader comes with 8 chart types, but also includes additional variations such as tick and pip charts. These chart types include Bar, Line, Candlestick, Heikin-Ashi, HLC, Dot, Tick (configurable with 27 settings), Renko (with 19 settings), and Range-based charts (with 22 settings).

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Timeframes: cTrader features 26 timeframes and standard charts and more than 50 timeframes and six zoom levels on all chart types (including tick and pip charts).

Chart Views: cTrader introduces Chart Views, which allows traders to release charts and use them as a desktop application that can be traded on multiple screens. Additionally, ChartShot allows traders to share trading examples and strategies easily.

Now that we have a comprehensive view of the differences in the chart, let’s look at the nuances of placing orders in MetaTrader and cTrader, highlighting their different approaches and functions:

Ontario's Investment Opportunities: Forex Trading And Mining Tips

The next significant aspect we need to consider is automated trading. In the MetaTrader application, both MT4 and MT5, traders can use Expert Advisors (EAs), which are manually coded programs designed to automate tasks, such as technical analysis of price data and executing positions on specific instruments.

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When comparing MT4 and MT5, the main difference between their Expert Advisors is in the programming language they use. Since MQL4 has been in use longer than MQL5, there is a more extensive collection of pre-written scripts and codes for traders to create their own Expert Advisors, even if they have no programming knowledge. On the other hand, MQL5 is a simpler programming language, making it easier for traders to create new scripts themselves.

Regarding cTrader, it also offers a similar program known as cBots, which functions similarly to Expert Advisors. As mentioned earlier, cTrader uses the widely known C# programming language, theoretically making it the most versatile among the three languages ​​(MQL4, MQL5, and C#) with a greater consumer base.

However, in reality, cBots are less popular than Expert Advisors (EAs), and the reason for this is that the online trading community that supports EAs is larger than cBots. Consequently, there are more templates available for MT4/MT5 compared to cTrader.

Mobile commerce has become an integral part of the modern trading experience. Both platforms offer mobile apps for iOS and Android devices, allowing traders to stay connected to the market on the go.

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The cTrader mobile app is widely acclaimed for its user-friendly design and seamless functionality. It provides real-time quotes, interactive charts, and order execution capabilities, giving traders full control over their portfolio from the palm of their hand.

The MetaTrader mobile app, too, is highly regarded and offers a range of features for on-the-go trading. This allows traders to access their accounts, execute trades, and monitor the market in real time.

In summary, both cTrader and MetaTrader are powerful trading platforms, each with unique feature sets and advantages. cTrader shines in its user-friendly interface, extensive customization options, and wide range of features. On the other hand, the widespread popularity of MetaTrader gives traders great resources to attract and support a stronger community, while having all the necessary tools to succeed in the market.

Ontario's Investment Opportunities: Forex Trading And Mining Tips

Ultimately, the choice between cTrader and MetaTrader depends on individual preferences, trading style, and specific needs. Traders should consider their asset preferences, technical analysis requirements, and whether they prefer a larger community-driven ecosystem or a more user-friendly interface with more features. Regardless of the choice, both platforms have contributed significantly to improving the trading experience for millions of traders worldwide.

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This September, US Labor Day (4th), Brazilian Independence Day (7th), Mawlid (28th) and Chuseok (28th-29th) are anticipated upcoming holidays that will affect standard market hours. Please consider the following holiday hours and adjust your position accordingly.

If you trade the above markets then you should be aware of the days the market is closed or if there are any changes to the opening hours. In addition, please note that there will be reduced liquidity and some spreads may extend to some products during this period. If this is not a market you are used to trading, then this change will not affect you and you can continue trading as usual.

Please note that the specified time is subject to change, and trading hours may be affected by additional holidays. We strongly recommend that all our clients stay up to date by regularly visiting our website for any modifications or by contacting our customer support team at [email protected] if you have any questions.

The main thing you need to do is to prepare for changes in the market hours and make sure that you have adjusted your position accordingly. You should also remain aware of potential changes to liquidity and spreads during this time. Please make sure your account is sufficiently funded. Log in to your Client here to fund your account.

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Don’t worry we will still be working around the clock, our support team is available 24/7, so feel free to contact us if you have any questions or concerns. Thank you for trading with Fusion Markets. Happy Holidays and Happy Trading.

Please see the table below for all upcoming dividend adjustments on the index for the week beginning August 28:

Dividends are the portion of a company’s income that is given to shareholders. Because indexes are often made up of individual stocks, the index dividend paid based on individual stocks is proportional to the weight of the index.

Ontario's Investment Opportunities: Forex Trading And Mining Tips

Trading in CFD Indices does not create ownership of any of the shares, or the right to receive actual dividends from these companies.

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The ex-dividend date is the cut-off date a share must be owned to receive the dividend. If investors buy shares after the ex-dividend date, then they will not be entitled to receive or pay further dividends. This is usually one business day before the dividend.

The share price should theoretically decrease by the amount of the dividend. If a company has paid dividends in cash, then there is less cash on the balance sheet, so in theory, the company should be valued lower (by the amount of the dividend).

Due to the associated price movement of the stock index when the ex-dividend date has been reached, Fusion must provide

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