Online trading platforms come in all shapes and sizes nowadays, which means that regardless of your trading style and level of expertise, there's likely a platform just right for you. The trouble is locating that platform, particularly one that works well-suited to your personality and trading style. It takes a bit of know-how to weed out the fakes from the real gems. I've spent several years looking for the perfect online trading platform - something that was intuitive and made sense, yet was also easy to use and permitted me to make quick trades without worrying about a bunch of numbers and letters. Finally, after much searching, I found what I think is the perfect platform.
I'll begin by explaining what I mean by 'perfect'. Ideally, any platform you use should allow for seamless and risk-free trades between you and your broker. Forex brokers are notorious for taking long to act on your orders, and even if they do eventually respond, it's usually not at an acceptable rate. Platforms that boast of instantly acting on your trade offers eliminate this problem, as your orders go directly from your broker to the platform where they are executed. This makes the platform easy to use, letting you spend more time doing the things you enjoy and less time performing background checks on prospective forex brokers.
The best trading platforms available work hand-in-hand with you. These platforms provide you with everything you need to trade confidently and profitably. They provide a risk management system, customize trading indicators, and have many tools to keep track of both the markets and your personal finances. All told, these are the most valuable add-ons any serious trader can have. With these tools, any trader can compete successfully against any experienced trader.
When deciding which online trading platforms to choose, make sure to consider everything from the ease of use to the customer service provided. The best platforms offer a wide range of options and allow you to easily search for the most compatible tools and indicators. Most also have an in-depth tutorial section where you can learn more about the product and the different features. In addition, most platforms offer a 30-day money back guarantee. If the platform you choose doesn't offer this, look for another one!
Some of the more advanced features, such as a back office and detailed charts, may require you to upgrade your brokerage account. However, most trading platforms allow you to use them free of charge. If you decide to upgrade, make sure you understand exactly how your upgrades will affect your current broker account. Many brokerage accounts only accept one type of account, so if you upgrade to a more advanced platform your broker may not be willing to support you fully. If you can find a brokerage that allows you to use all the top trading platforms, you are better off paying the fee to upgrade and receiving the comprehensive training and support.
Android trading platforms are beginning to reach the market. Some brokers provide trading platforms designed specifically for android devices. These brokers recognize the growing importance of this market and the fact that more individuals are relying on their mobile phones to conduct all of their business. More importantly, most of these apps provide their users with a rich user experience, great user interface, high speed, and the ability to access the market anywhere. In fact, many brokers have begun to offer mobile apps for their clients, as well.