Forex Club can confidently be called the most technologically advanced broker of OTC market. There is no such broker who would put so much effort in developing its own unique products, in particular trading platforms. And interestingly, that each Forex Club trading platform is designed for a niche, making great new terminals like MT4. For example, Libertex is the simplest platform, in which even the usual Forex terms replaced by the familiar everyday words, understandable for any novice trader. Rumus — the exact opposite. By analytical capabilities, and programming the platform in the professional trading can compete with the MT4.
StartFX — platform from which the trading starts
StartFX — another own development of Forex Club. The broker is positioning this platform as a simple terminal for beginners. But, unlike Libertex, here all is in full compliance with the requirements of classic trading platform. StartFX is not overloaded with tools and has a simple interface — it has everything you need for rapid development of specifics of OTC market.
The toolkit of the platform is difficult to call very large, but does the trader that is just beginning to understand the simplest strategies and popular indicators needs it? The platform has just 8 indicators and 2 graphics tools (compared to MT4 — 30 and 32 indicators, respectively, Rumus — 77 and 17).
Advantages of StartFX :
- the platform has a layered structure, which is not in MT4, and money management (more about that below);
- method of execution of quotes “Fixed price”, “Market Execution” (execution at a better price) and “Instant Execution” mode. The first embodiment is not present neither in MT4 nor in Libertex, this functionality of StartFX can only be compared with Rumus;
- StartFX has no spreads, which are replaced with the commission of the broker. The commission only applies to profitable trades with losing the automatic return to the trading account;
- it is possible to reduce or change the direction of the position (in MT4 it is only possible with the help of locking or latching of the position);
- there is the function one-click trading (however, this feature can be found in 80% of terminals);
- intelligent answering functions. This time the developers have paid a lot of attention (because the platform is considered to be comfortable for beginners). There is a built in advisor and an interactive hint in the terminology of the Forex.
Feature of StartFX — multilevel functionality. There are a total of 4 levels: the first is the easiest (basic), has a minimum number of analytical tools, 4th is the most advanced. Each level is accompanied by tips, which aim to teach the trader the specifics of the trade gradually.
Feedbacks about the platform:
- “It fits the most beginners, but the platform does not show several charts in the demo version and some functions are limited”;
- “Working on a demo account is a pleasure. Intelligent assistant paints each step, explaining in detail the trade direction, levels, restrictions etc. Among assets there are US dollar, Euro, gold”;
- “Immediately put the 4th level. The first three are more for kindergarten, that is, those who do hear the first time, what is the Ichimoku indicator or stochastic. It is recommended to enable the online display of news, to see the dependence of quotations from fundamental factors”;
- “For real trading MT4 is better, but in order to generally deal with the trade — great design!”
One of the major drawbacks of StartFX — no possibility of locking (hedging), that is, simultaneous opening of positions on the same asset in different directions. Another disadvantage — there is no algorithmic trading and there is no possibility to place pending orders for opening positions. And perhaps the last disadvantage – among the versions of the platform there is only software for iOS and Android, Windows Mobile is not provided.
Summary. StartFX is a unique solution for the novice trader. And it’s not just the usual and easy to understand platform, and sharpened for the learning process. For a professional company it is unlikely to be very interesting, since the platform does not have the option of creating own indicators, strategies and no automated trading. But for a beginner trader we would advise you to start with this platform after mastering which go on MT4 or Rumus. On the Forex Club website platform it is free to download, the installation takes a maximum of 10 minutes, but to explore the functionality of the platform you need to open an account with Forex Club (demo is possible).