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How to Decide on the Best Trading Platform for You

Posted: 27th July 2016 09:47
As a trader, you need a trading platform that’s on your side. Trading from home can be a lonely business at times, and this means that your trading platform needs to be your best friend. You need a platform that’s easy to read, one that can execute trades quickly and one that provides you with all the charting and monitoring information you require. Here, we take a look at how to find a trading platform that works for you.

Reliability

Reliability is incredibly important. The markets are very fast moving so, if you’re unable to trade, you could be losing money.

Most reputable brokers now provide fast, reliable platforms. However, before you select your broker and your platform, you need to do your research. Google the company in question, and check the reviews. Other traders will have reviewed the company, telling you what works and what doesn’t.

Usability

You need a platform that will work for you around the clock. The forex markets are open 24 hours a day, so you need one that can work both day and night.

In addition to around the clock usability, you also want one that’s accessible on a number of devices. Look for a platform that’s available on PC, Mac, Tablet and smartphone. This way, you can trade regardless of where you are in the world.

Security

When you’re trading online, you’re often trading large sums of money. All of these sums are linked to your bank account. As such, proper security is vital to ensuring that your funds and account information are secure from hackers.

Again, most reputable brokers will publish the security of their platforms clearly on their website. Make sure that you look for this before you sign up, and select a reputable broker with published safety and security information.

Charting

Finally, you need to select a platform that offers you the charting options you need to succeed. Here, you need to think about how you can select a platform that grows with you.

As a beginner trader, it’s unlikely that you will use many charting tools, but you’ll use more and more as your career develops, so try select a platform that can grow with you, saving you needlessly changing in the future.
 
To conclude, if you find a platform that provides all of the above features, then you’re onto a winner. Take a look at somewhere like FXPro to find a range of different platforms and find one that suits you.