Multicharts VS Tradestation

Once upon a time, in the world of trading software, there were two giants battling for supremacy - Tradestation and Multicharts. These powerful platforms revolutionized the way traders approached their craft, offering advanced tools and features that could potentially make or break their success. Today, we delve into the fascinating history of both platforms and explore the differences that set them apart.

Tradestation, the elder of the two, burst onto the scene in 1982. It was developed by William E. and Rafael Cruz, who envisioned a platform that would empower traders with cutting-edge technology. With its launch, Tradestation introduced a new era of charting and technical analysis capabilities, becoming a game-changer for traders around the globe.

From day one, Tradestation aimed to provide a comprehensive suite of tools that catered to all types of traders. The platform boasted an intuitive user interface (UI) that allowed even novice traders to navigate through complex charts effortlessly. But what truly set Tradestation apart was its proprietary EasyLanguage scripting language. This powerful tool enabled users to create custom indicators, strategies, and alerts tailored to their unique trading styles.

As time went on, Tradestation continued to evolve and adapt to market demands. They expanded their offerings beyond just charting and analysis and introduced real-time market data feeds, order execution capabilities, and even brokerage services. This all-in-one solution attracted traders from various backgrounds - from individual retail traders to institutional investors.

Enter Multicharts, the ambitious contender born in 2006. Developed by a team led by Dennis Globa, Multicharts aimed to disrupt the industry with its own set of innovative features. While inspired by Tradestation's success, Multicharts sought to carve out its own niche by offering a more flexible and cost-effective alternative.

Multicharts recognized that not all traders had the same needs or preferences when it came to trading software. To address this diversity, they introduced a modular approach, allowing traders to customize the platform according to their requirements. This flexibility gave Multicharts a competitive edge, appealing to both retail traders and professional trading firms alike.

One of the standout features of Multicharts was its ability to support multiple data vendors, brokers, and exchanges simultaneously. This meant that traders could access a wider range of markets and execute trades with different brokers, all within a single interface. Additionally, Multicharts embraced third-party integration, providing access to a vast library of add-ons and indicators developed by traders and developers worldwide.

Both Tradestation and Multicharts have continued to innovate over the years, constantly pushing the boundaries of what is possible in the world of trading software. Tradestation expanded its offering to include futures, options, forex, and even cryptocurrency trading. They also introduced RadarScreen, a real-time scanning tool that helps traders identify potential opportunities quickly.

Multicharts, on the other hand, focused on enhancing their platform's performance and stability. They introduced features like Portfolio Backtesting and Optimization, enabling users to test their strategies across multiple symbols simultaneously. Multicharts also incorporated advanced order routing capabilities for high-frequency traders who demanded lightning-fast execution speeds.

While Tradestation and Multicharts share many similarities in terms of functionality and target audience, there are some notable differences that set them apart. One key distinction lies in their pricing models. Tradestation operates on a subscription-based model where users pay a monthly fee for access to the platform's features. In contrast, Multicharts offers a one-time purchase license fee with optional subscription plans for ongoing support and updates.

Another significant difference lies in the programming languages supported by each platform. While both platforms offer proprietary scripting languages (EasyLanguage for Tradestation and PowerLanguage for Multicharts), Tradestation also supports programming languages like C++, C#, and EasyLanguage .NET for more advanced customization.