It may be important to preface this comparison with a clarification between eToro and MetaTrader 4. eToro is a company founded in 2007 to provide retail trading services for CFDs including Forex, commodities, indices, stocks and ETFs. Meanwhile, MetaTrader 4 is a trading platform created by MetaQuotes in the early 21st century to enable retail traders to access various financial markets. This means that we shall be comparing the trading platforms provided by MetaQuotes and eToro rather than discussing the services provided.
Traders rely heavily on technical trading indicators to analyze financial markets before making trades, so it is very important that the brokers and companies include as many indicators as possible. eToro mainly uses a web trader while traders are using their computers, but there are also mobile apps for both iOS and Android devices. On both platforms, eToro has made quite a number of technical indicators available to users including oscillating and trend indicators. These indicators are very easy to lay onto the trading window, either on the web browser or mobile, allowing traders to analyze markets with more accuracy.
MetaTrader 4 also has a similar number of technical indicators and their ease of use pretty much equals that of eToro’s mobile and web platforms. However, MetaTrader 4 has the benefit of numbers, giving it a major advantage. Thanks to the higher number of developers behind MetaTrader 4, there are a lot more indicators being developed for use. These developers are also motivated by the huge number of users making use of the platform because a lot of brokers offer the MetaTrader 4 platform. Therefore, MetaTrader has many indicators that may be downloaded from various sources and installed into the platform.
This is an incredibly difficult measure by which to compare trading platforms eToro and MetaTrader 4 because the assets available largely depend on the company providing the assets. The eToro platform is obviously provided by eToro, which is a very popular broker around the world. The broker mainly provides CFDs for currency pairs, commodities, stocks, indices and ETFs. Nevertheless, there are also real assets available for traders who choose to do without leverage in their trades.
All in all, eToro has a very wide range of assets available for trade but that does not match up to the assets available on MetaTrader. Because many brokers provide MetaTrader 4 as a trading platform, these brokers allow the trading of various assets through this platform. The brokers all have a different array of assets, so in the end MetaTrader 4 sports a lot more assets for trade compared to eToro.
Perhaps one of the main advantages that Apple has over Google is that it has complete control over the iOS ecosystem. Basically, one company in charge of all their services means better services since the company can easily update the trading platform. MetaTrader 4 suffers from the same problem as Android because MetaQuotes issues a license to hundreds of brokers around the world. This makes pushing upgrades and other changes more difficult. Meanwhile, eToro is in charge of its trading platform, resulting in a more stable trading platform.