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MetaTrader and cTrader dominate the Forex market with their cutting-edge trading platforms and algorithmic trading capabilities. TradeLocker emerged as the industry disruptor many Forex traders have longed for. Capitalise AI offers code-free algorithmic trading in MT4, but TradeLocker comes with its version fully integrated into its trading platform. It also embedded TradingView charts and has established a promising foothold among prop trading firms. Is TradeLocker worth the hype, or should traders stay with the time-tested MT4/MT5 trading environment? Find out below so you can make an informed decision.
Top TradeLocker Brokers
- KOT4X, A multi-asset broker featuring a retail prop trading division.
- SageFX, An innovative broker offering retail prop trading & mini-FX pairs.
KOT4X
In Summary A multi-asset broker featuring a retail prop trading divisionKOT4X offers traders a balanced asset selection, including 47 currencies, 16 cryptocurrency CFDs, and 107 equity CFDs with fast STP order execution. Trading fees feature minimum spreads of 0.4 pips for a commission of $7.00 per 1.0 standard lot. KOT4X offers a retail prop firm division with a profit split of 80% and funded accounts between $5,000 and $100,000 for a one-time evaluation fee between $60 and $475. Therefore, I rank KOT4X among the best TradeLocker brokers.
The minimum deposit via cryptocurrencies is $10, but between $25 and $50 using other payment processors. KOT4X also offers a withdrawal bonus.
Pros & Cons
- Cryptocurrency deposits and withdrawals via eight coins
- Proprietary trading division with an 80:20 profit split
- Good choice of cryptocurrency CFD
- MT4 trading platform plus a proprietary alternative in beta
- Expensive trading fees
SageFX
In Summary An innovative broker offering retail prop trading & mini-FX pairsSageFX ranks among the best TradeLocker brokers. It requires a $10 minimum deposit and offers micro-lot trading from 10 currency units. The Pro alternative, which requires a $500 deposit, offers minimum spreads from 0.1 pips for a commission of $8.00 per 1.0 standard round lot. The balanced asset selection includes Forex, cryptocurrencies, commodities, and equity CFDs. SageFX promises ECN order routing and NDD execution.
Retail prop traders can pay a one-time evaluation fee between $250 and $1,000 for a funded account from $25,000 to $200,000. SageFX also maintains a high-paying affiliate program with up to $10 per lot in passive earnings.
Pros & Cons
- Good choice of currency and cryptocurrency pairs
- No negative balance protection
- No MT4 and algorithmic trading
- Expensive trading fees
- Unregulated broker with rising complaints against it
TradeLocker Platform – Overview
- Trader-friendly user interface available in English, French, Spanish, Portuguese, Indonesian, and Hindu.
- Code-free algorithmic trading (only in demo accounts, but the live account version is coming soon).
- Back testing suite for algos
- Real-time market data
- TradingView charts with 100+ indicators
- Social Share for social traders
- Available as a powerful desktop client, web-based alternative, and mobile app.
- Ability to check past trades in the chart
- Traders can set price alerts on the chart
- Margin level bar and stop-out settings
- TradeLocker allows traders to jump to a specific date without scrolling and supports custom date frames.
- Chart syncing across devices
- Detailed order ticket
- Traders can set dollar goals, retrieve tick value data, define percentage risk, or trade the classic way.
- TradeLocker features a risk calculator and supports trailing stop-loss orders.
- 500+ assets, including Forex, cryptocurrency CFDs, indices, commodities, and equity CFDs.
The Difference Between TradeLocker & Other Trading Platforms
The most defining difference between TradeLocker and other trading platforms is its integrated ability for code-free algorithmic trading, making it a genuine next-gen trading platform. MT4/MT5 achieves that feature through the Capitalise AI plugin, while cTrader lacks that function.
Is TradeLocker Suitable for Beginner Traders?
Beginners will face a learning curve irrelevant to the trading platform, but TradeLocker has significantly fewer guides than MT4/MT5 or cTrader. Still, beginners should have no issues learning to use TradeLocker since it uses the TradingView charting package and will find the responsive user interface a welcome feature.
Fees & Costs in the TradeLocker Platform
The brokers that offer TradeLocker determine the fees and costs of trading. Since ECN/STP/NDD brokers favor TradeLocker, traders can find ultra-competitive cost structures, raw spreads trading, and volume-based rebates.
TradeLocker Account Types
TradeLocker does not determine available account types, which is the responsibility of brokers offering TradeLocker. Traders usually have a choice between more expensive commission-free account types and cheaper commission-based alternatives.
How Do I Choose a TradeLocker Broker?
I recommend traders focus on the following criteria when researching the best TradeLocker brokers, as they are necessary for all Forex traders.
- Regulation: A clean regulatory record of 10+ years with trader-friendly regulators. I recommend Forex brokers regulated in New Zealand, Seychelles, Mauritius, Belize, South Africa, and Dubai, as they balance trader protection and competitiveness.
- Trading Fees: Major currency pairs should not exceed costs of $9.00 per 1.0 standard round lot or 0.8 pips, and volume-based rebates decrease final trading fees.
- Asset Selection: Traders seeking diversification and cross-asset trading opportunities require 300+ assets covering at least five sectors.
- Deposits and Withdrawals: I advise low minimum requirements and a choice of e-wallets, preferably cryptocurrency, for deposits and withdrawals.
TradeLocker Platform - Pros & Cons
I recommend that Forex traders consider the pros and cons of TradeLocker before funding a trading account with the best TradeLocker brokers.
The pros of TradeLocker brokers are:
- Cutting-edge trading technology, including code-free algorithmic trading and a back testing suite for algos.
- TradingView charts
- Excellent trading tools
- Integrated social trading
- 500+ assets and real-time market data
- An expanding list of partners
The cons of TradeLocker brokers are:
- Fewer brokers offer TradeLocker
- Limited help content for TradeLocker
Bottom Line
TradeLocker is an industry-disrupting next-gen trading platform that shines with code-free algorithmic trading, integrated social trading, and TradingView charts. It is a leading choice among retail prop firms, and more Forex brokers add it to their trading platform selection. The best TradeLocker brokers offer a balanced asset selection and low trading fees in an ECN/STP/NDD trading environment.
I highly recommend TradeLocker. This trading platform continues to innovate and disrupt the trading scene with cutting-edge technology and trader-focused features.
