5 Features of a Top Trading Platform
There are certain factors that attract investors to online trading. The ability to make money from online trading has never been easier, and people from around the world are realising the profit potential that this lucrative market presents.
If you have decided to start trading online then you will need to find a forex broker that offers many tools and resources. Your selected broker should also offer a choice of trading platforms.
Once you register with an online broker you will then need to select which trading platform you are going to use. The platform that you choose will make a huge difference to your overall success. As such, it is essential that you feel 100% comfortable on that platform. Every tool and resource should be familiar to you and you should be able to navigate your way through that platform with absolute ease.
Some of the main features to look out for from a top trading platform are:
Real Time Price Feeds
Price data feeds should be displayed in real time and should be reorganised according to market changes. Aside from having real time price feeds you need to have a strong internet connection and a powerful computer to receive those feeds in real time.
Forex Analytical Tools
Some of the world’s most popular forex trading platforms, such as the MetaTrader 4, come equipped with a range of analytical tools such as forex indicators and charting capabilities. It is essential that you have access to analytical tools in order to work out the current market trend and spot profitable investment opportunities. Some platforms also provide a forex news plugin which you can attach to the platform for greater convenience.
Consistent Placement of Orders
You should also be able to place your trades in a safe and reliable environment. All orders and live transactions should be executed reliably, properly and consistently.
Strong Security Measures
In line with trading consistency comes trading security. When you register with a forex broker all information provided must be given utmost security, from your account information to your personal details. When you log in to the trading platform this information must not be visible or accessible to outsiders.
Proper Automation Features
A highly popular option amongst many traders is to execute automated trades through expert advisors (EAs). Your selected trading platform must support this trading strategy and should provide trading tool VPS to help minimise downtime in the event of a poor internet connection.
As you can see, there are plenty of factors to consider when it comes to choosing a trading platform. But what compels people to trade over and above everything else is having access to a top forex trading platform, as this is an essential element of your success.