TradeLocker vs MT4: Should You Switch from MetaTrader 4?

In short: MT4 is the long-established standard, with a huge library of Expert Advisors written in MQL4. TradeLocker is a modern, browser-first platform with TradingView charts and a built-in risk calculator. If you rely on MT4 Expert Advisors, MT4 is hard to replace; if you trade manually, TradeLocker is often easier to use.

MetaTrader 4, released by MetaQuotes in 2005, is still one of the most widely used forex platforms. TradeLocker is a newer platform that many brokers and prop firms now offer alongside or instead of MetaTrader. This guide compares the two for traders thinking about switching. For the newer MetaTrader version, see TradeLocker vs MetaTrader 5.

At a glance

• Charts: TradeLocker integrates TradingView charting. MT4 uses its own charts, with 9 timeframes.
• Indicators: TradeLocker gives access to the TradingView indicator library. MT4 has around 30 built-in indicators plus thousands of custom ones written in MQL4.
• Automation: MT4 runs Expert Advisors (EAs) written in MQL4, with a built-in strategy tester. TradeLocker offers Studio for building bots without coding in MQL.
• Access: TradeLocker is a native web app with matching desktop and mobile apps. MT4 is mainly a desktop program, with web and mobile versions.
• Risk sizing: TradeLocker has a built-in risk calculator. On MT4, lot sizing is usually worked out manually.

Charts and analysis

MT4's charts are fast and reliable but look dated, and you are limited to its built-in timeframes and indicators unless you install custom ones. TradeLocker brings TradingView's charting, drawing tools and indicators into the platform, which many traders find quicker to work with. Read TradingView indicators on TradeLocker for details.

Expert Advisors and automation

This is MT4's biggest strength. Two decades of development mean there are Expert Advisors, scripts and custom indicators for almost any strategy, and many traders run EAs around the clock on a VPS. These are written in MQL4 and do not run on TradeLocker. If your trading depends on a particular EA, you would need to rebuild the strategy before switching.

Ease of use

TradeLocker was designed for the browser and for mobile from the start, so the layout is consistent across devices and there is nothing to install to get started. Its order ticket can size a position from the amount you want to risk, which removes the pip and lot maths that new MT4 users often get wrong. Our guide on calculating pip value explains that maths if you stay on MT4.

Should you switch?

• Stay on MT4 if you depend on MQL4 Expert Advisors or custom indicators you cannot replace.
• Try TradeLocker if you trade manually, already use TradingView, or want one platform that works the same on web, desktop and phone.

The easiest way to decide is to open a TradeLocker demo account and trade your usual plan on it for a week or two.

Thinking of switching? Clarity FX is an ECN TradeLocker broker for forex and crypto pairs, with free demo accounts and no minimum deposit. Open an account.

Frequently asked questions

Can I run MT4 Expert Advisors on TradeLocker?

No. MT4 EAs are written in MQL4, which runs only on MetaTrader 4. You would need to rebuild the strategy for TradeLocker.

Is TradeLocker easier than MT4?

Most new traders find it easier, mainly because of the TradingView charts and the built-in risk calculator. Experienced MT4 users may need a short adjustment period.

Does Clarity FX offer MT4?

No. Every Clarity FX account runs on TradeLocker.

Keep reading

• TradeLocker vs cTrader
• What is TradeLocker?
• TradeLocker brokers

Sources: TradeLocker vs MetaTrader (TradeLocker).

Trading forex and crypto on leverage carries a high risk of loss and may not be suitable for all investors. This article is educational and not financial advice. Read our risk disclosure.