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5 Best MetaTrader 4&5 Add-Ons and Plugins in 2022 and Beyond

Since its inception, the MetaTrader4 and its successor the MetaTrader5 have won the hearts of traders thanks to the excellent user interface and the variety of advanced features and trading tools. As of 2021, it is estimated that more than 1500 brokerage firms offer users to trade via the popular MetaTrader 4 and 5. 

This free-of-charge trading platform, which was founded way back in 2005 by a software development company known as MetaQuotes Software Corporation, offers wide technical analysis options, automatic trading solutions, and a huge variety of add-ons that can be added to the platform to further expand the trading capabilities. Additionally, the most popular trading platform in the world is also available on any web browser via its Web Terminal, or via a mobile trading app.

So, in this article, we suggest 5 of the best add-ons and plugins that the MetaTrader platform has to offer in 2021 and beyond. 

Best MT4 and MT5 Add-Ons and Plugins – How Does it Work?

The great thing with MetaTrader is that it works the same way as many other platforms and applications you are already familiar with where you can install an app to the dive operating system(App Store, Google Play, SmartTVs, etc). This means that you’ll be able to download and activate the plugins directly on your Metatrader 4 and 5 trading platforms, regardless of the forex broker you have chosen. As a matter of fact, once you are logged in and you navigate to the market tab, you’ll be amazed by the huge variety of other plugins and Expert Advisors’ automated trading operations you can download (free or paid).

At the same time, you can also browse around the internet to find third-party applications and services that can be installed directly to your MetaTrader trading platform.

However, to make the process easier for you, below we have listed some of the most popular MetaTrader4 and MetaTrader5 plugins in 2021 and beyond.  

1. Autochartist

The Autochartist is a must-have plugin if you are going to trade on the MT4 or MT5. It comes with a variety of key features including a built-in market scanner, statistical analysis, market depth, and risk calculator. 

As for how to get it, there are two options. Either the brokerage services company you choose to trade with offers you this plugin or you have to purchase it on your own via the company’s website. The only downside of this app is that in order to use the Autochartist plugin, you might have to upload the plugin files to the directory, which is somehow a bit complicated.

Once you do that, the Autochartist plugin integrates with the MT4/5 trading platform and you get access to the tools mentioned above. By the way, the price for using the Autochartist plugin varies between $30-$50 per month.

2. Expert Advisor

One of the main attractions of the MT4/5 is the ability to use the Expert Advisor plugin, which is a piece of software with inbuilt algorithms that automatically places orders and executes trades on your behalf in the forex market. 

Generally, there are lots of MT4 expert advisors to choose from depending on your trading objectives, which means you’ll have to research a bit in order to find the right forex bot for you. Nonetheless, some of the best EAs we have found include Flex, Fortnite, and the 1000pip Climber System.

3. Trading Central

Even though Trading Central primarily offers its built-in plugin to brokerage firms, individual professional traders and money managers also can purchase this extraordinary tool. With Trading Central, the trader gets a new design for the MT4/MT5 with a range of tools that can make a huge difference to your trading experience. For example, you’ll get access to the TC newsfeeder, market buzz, economic insight, forex featured ideas, and the TC alpha generation indicators. 

All in all, the Trading Central plugin is certainly one of the best add ons for MetaTrader 4 and 5.

4. VPS Hosting

A VPS hosting is essentially an upgrade for traders who are looking for a reliable and fast connection to the financial markets. In simple terms, a VPS connects you to the markets via a cloud-based trade server so there are no cut-offs and the market execution is much faster. The problem, however, is that many traders are not making the effort to search for a VPS hosting provider before an error occurs. 

Luckily, some forex brokers out there provide this service as an additional software plugin on both MT4 and MT5. In that aspect, if you decide to open an account at one of our recommended brokers, Switch Markets, you’ll get access to a free VPS plugin (worth $467). This means that with this broker, you can trade financial instruments with a latency of just 1ms, get instant execution at all times, and ensure your platform is safe from any internet disconnections and other online risks. 

5. News Feed Indicator 

One of the flaws of the MT4/MT5 in comparison to many other online trading platforms is the lack of news feed, data, and market analysis. Some MetaTrader introducing brokers do offer a built-in news feed on the platform, however, the vast majority of brokers typically do not provide this feature.

But, for that matter, you can simply download the news feed indicator that is packed with economic calendar alerts about big events, real-time markets news and updates, and technical/fundamental analysis. 

Start your free trial today and let us show you how to install and manage these top plugins.

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