Does ThorFX Support MT5 as of 2024?

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Forex Traders are constantly looking for platforms that offer advanced tools, good charting capabilities, and the fastest execution of trades. Though MT4 is the most popular and widely used trading platform in the world, many traders are moving to the MT5 platform for next-level trading experiences like faster execution, a wide range of assets, advanced features,  and so on. 

ThorFX is an online offshore forex and CFD broker. Traders opt to trade with offshore forex brokers like ThorFX to enjoy restrictions-free trading. Now the question comes if ThorFX supports the MT5 Trading Platform. In this blog post, we will discuss if ThorFX supports MT5, Trading Platforms and facilities of ThorFX, Alternatives of ThorFX, and So on 

Does ThorFX Work With MT5

No, ThorFX does not support MetaTrader 5 (MT5). The platform has chosen to implement the Tradelocker trading platform instead. Tradelocker represents the next generation of day trading platforms, strategically designed to meet the demands of bold traders and savvy brokers

ThorFX at a Glance

ThorFX at a Glance
  • Founded Year: 2021
  • Founder: Kathy Lien
  • Headquarters:  Marshall Islands
  • Minimum Deposit: $10
  • Maximum Leverage: 1:500 (Leverage may vary based on assets) 
  • Regulations: None (Unregulated Offshore Broker) 
  • Trading platform: TradeLocker
  • Account Types: Standard, Pro, Var, Mini 
  • Trading Style: Scalping, Hedging, Swing Trading, Day Trading, Automated Trading
  • Payment Options: Perfect Money, Cryptocurrencies, Altcoins 
  • US Traders: Accepted 

What Trading Platforms Does ThorFX Use?

ThorFX Currently uses the Traderlocker Trading Platform. Trading is a next-generation trading platform that offers advanced charting facilities 

Alternatives of ThorFX Trading Platforms

ThorFX is a popular offshore broker. However, there are other brokers that can serve as alternatives to ThorFX. Some of the alternative brokers even offer MT5 Trading Platforms. For example, Plexytrade offers both MT4 and MT5 Trading Platforms. These alternative brokers include

Most Popular
Plexytrade

Plexytrade

  • Founded In:  2024
  • Minimum Deposit: $50
  • Maximum Leverage: 1:2000
  • Regulations: None
  • Trading Platforms: MT4, MT5
  • Trading Instruments: Forex, cryptos, commodities, indices and stocks CFDs
SolidECN

SolidECN

  • Founded In:  2020
  • Location: Comoros Union
  • Minimum Deposit: $1
  • Maximum Leverage: 1:1000
  • Regulations: None
  • Trading Platforms: MT5
  • Trading Instruments: Forex, cryptos, commodities, indices and stocks CFDs
N1CM

N1CM

  • Founded In:  2017
  • Minimum Deposit: $1
  • Maximum Leverage: 1:1000
  • Regulations: None ( Offshore forex broker)
  • Trading Platforms: MT4, MT5
  • Trading Instruments: forex, indices, commodities, shares, cryptocurrencies, precious metals
Zforex

Zforex

  • Founded In:  2022
  • Location:  Bulgaria
  • Minimum Deposit: $10
  • Maximum Leverage: 1:1000
  • Regulations: None
  • Trading Platforms: MT5
  • Trading Instruments: Forex, cryptos, commodities, indices and stocks CFDs
NextTrade

NextTrade

  • Founded Year:  2020
  • Location: Stamford Hill, Durban Kwa-Zulu Natal 4001. 
  • Minimum Deposit: $10
  • Maximum Leverage: 1:500
  • Regulations: None (Unregulated Offshore Broker) 
  • Trading Platforms: MT5, TradeLocker
  • Trading Instruments: CFDs on stock indices, various commodities, such as gold and silver, and a wide choice of FX pairs

Frequently Asked Questions (FAQs)

What is ThorFX?

Founded in 2020, ThorFX is an online forex and CFD broker. It is an offshore forex broker that offers 138 forex pairs, stocks, indices, commodities, and cryptocurrency services to traders worldwide. The broker allows all trading styles including scalping, hedging, news trading, etc. The maximum leverage of ThorFX is as high as 1:500. 

What is the MT5 Trading Platform?

MT5, or MetaTrader 5, is a widely used trading platform in the financial industry. It is the successor to MT4 and offers advanced features such as more timeframes, additional order types, an economic calendar, and improved analytical tools. MT5 is commonly used for forex and CFD trading.

What are the alternatives to MT5 Trading Platforms?

MT5 is the second most popular trading platform in the world.MT5 is not the only platform in the industry,there are several trading platforms that serves as alternatives to MT5. They include. 

MT4 (MetaTrader 4): The predecessor to MT5, it remains immensely popular for its simplicity and wide adoption.

Ctrader: Known for its user-friendly interface and advanced charting tools.

Tradingview: A web-based platform appreciated for its social trading features and customizable charts.

Etoro Platforms: Etoro offers a range of trading platforms, known for its social trading network.

Final Verdict :

ThorFX does not offer Metatrader 5 as their trading platform. They offer Tradelocker as their trading platform. 

Tradelocker, powered by Tradingview provides a range of features and tools for executing trades, managing positions, and analyzing markets. Although it may differ from the familiar MT4 interface, Tradelocker is designed to offer a user-friendly and efficient trading experience for ThorFX clients.
Trading forex and CFDs comes with the risk of losing your trading capital. Furthermore, trading with unregulated brokers like LMFX puts your funds at higher risk.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

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