MetaTrader 4 (MT4) is a popular platform for forex trading, known for its user-friendly interface, customizable charts, and robust trading tools. MetaTrader 5 (MT5) is an upgraded version offering additional features such as more timeframes, an economic calendar, and advanced order types, making it suitable for trading a broader range of financial instruments, including stocks and commodities. Traders choose MT4 for simplicity and MT5 for more sophisticated needs.

The right trading platform depends on your trading style, experience level, and preferred instruments. Beginners may prefer user-friendly platforms like MT4 or cTrader, which offer easy-to-understand interfaces and basic trading tools. Experienced traders might opt for MT5 or custom platforms that offer advanced charting, analysis tools, and a wider range of tradable assets. Consider factors like fees, available markets, platform stability, and support services when choosing.

Yes, most trading platforms like MT4, MT5, and cTrader support automated trading through Expert Advisors (EAs) or trading bots. These tools allow traders to automate their strategies based on specific criteria such as technical indicators, price levels, or market conditions. However, it's essential to backtest these strategies, understand the risks involved, and ensure they are compatible with the platform before using them in live trading.