Popular Online Trading Platforms
It is evident that each person seeking to make any sort of investment in the Forex trading or stock market requires a trading platform. When one chooses an online trading company, most will recommend ForexTime that works best with their accounts. So one would ask, what is online trading platforms and which of them to choose?
What Is a Trading Platform
A trading platform can be basically described as a software that is used for trading that is opening, closing, and managing market positions, buying and selling foreign currency or shares through a financial intermediary.
These platforms can range from basic order entry screens for beginner investors with simple analysis tools. They can also come in sophisticated complex toolkits for advanced traders with real-time lives streaming of proceeds in various stock exchanges and securities.
Top Online Trading Platforms
Platforms that are available to online traders are many and with different features. Let us take a look at a few that are quite popular amongst brokers and traders alike.
This platform uses the Meta Trader Series and is considered one of the most reputable brokers. The platform offers the MetaTrader 4 and MetaTrader 5 online trading platforms. They are accessible form typically any PC or mobile device. They are accessible and compatible with most of the online trading brokers and online trading accounts. Meta Trader 4 web trader has real-time market depth, detailed trading history, one-click trading, nine timeframes, and comprehensive account history.
The MetaTrader 5 is an upgrade of MT4 with additional features and a superior processor. Its features include three chart types and nine timeframes, additional pending order varieties and more than 300 trading tools including stock indices CFDs and CFDs on the precious metal.
This trading platform is most popular in the United Kingdom. It has a web trader as well as a mobile trading up. It is a sophisticated CFD trading platform giving its investors access to over 2,000 trading tools. This platform has one account type and charges only on the spreads with an average of 0.6 pips on EUR/USD trades.
This is an online trading platform most popular in the USA. It is a top choice for traders hoping to invest in Crypto and copy trading. It is high in security and safety and offers 24/7 customer support service. It is also great at stocks trading and foreign exchange. It is available in most countries and listed in many securities across the globe.
This is an online trading platform and is very popular amongst beginners. It is a low-risk platform with no trading fee and allows the trader to buy and sell without risking anything beyond their initial investment. It is mostly for traders who want to try out online Forex and stock trading to see how it works. It does not offer many tools on education or research but its an excellent starting point in online trading.
Choosing a trading platform can never be easy but selecting from what other investors have used gives one a sense of what to expect. One also needs to consider account minimums, trading fees, deposit fees, trading tools, speed, and execution as well as asset classes and variety when selecting the platform suitable for their needs. The most important bit is not just popularity but how it suits traders’ needs