Forex trading platform — the software through which the trader is trading on the global exchange markets through the intermediation of the broker. They differ in the functionality, and the quantity of built in indicators, graphics (interface), etc. We may distinguish universal platform (allowing you to trade virtually all the major assets) and specific (tuned for a particular tool, for example, derivatives).
How to select Forex trading platform?
Trader can get the trading platform in two ways:
- download the terminal from the website of the chosen broker. Pros: it often happens that traders can modify the platform under its own capabilities and features that can simplify or speed up the trade. Cons: dishonest brokers may make scripts to the program to reverse the successful trade of the trader;
- download the terminal from the developer. Pros: direct technical support, quality assurance of the product. Cons: need to purchase a license (not always, but often), an English interface.
When choosing a trading platform, we recommend you to pay attention to the following points:
- speed of work. The speed of execution, display real-time quotes, etc. Especially important for scalping and intraday strategies;
- available tools and the possibility of additional installation. The advantage of the platform is the possibility to install new technical indicators until the self-programming;
- additional functionality. Social trading, multi-currency testing strategies (robots), the history of quotes in multiple time frames, etc. With the experience comes the necessity of such a functionality and this is better to think in advance;
- user-friendly interface. Graphics, font, layout of individual elements of trade management should be easily readable. The eye should quickly rush most important, the interface should not appear oversaturated, and desired functions can be reached in a minimal number of clicks;
- availability of a mobile version of the terminal. Although continuous trading is possible thanks to VPS hosting, control of position using a mobile device will not be superfluous.
On our website presented the reviews only of a few Forex trading platforms so far, but over time we will expand their number:
- Metatrader4 — the cult trading platform preferred by more than 50% of all traders of the CIS space;
- xStation — simple and easy to use platform for new traders.
Correctly chosen Forex trading platform is 30% of success, but the choice is individual and depends on the preferences of the trader. It is recommended to test several platforms on demo accounts to understand for yourself what makes the most sense. If you have any questions left, send them via feedback form.
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