How to make the right choice of trading platform
Most trading platforms have a similar set of features: the same time frames, trading tools and assets, but some difference is still there. Choosing trading software, we recommend you to focus on the following characteristics:
- the number of available assets. Often they the set is standard across all platforms and has more than 120 assets. In the extended version, access is provided to exotic currency pairs and cryptocurrency;
- technological solutions and number of tools. Trading platforms can be simple to understand (have a simple set of tools such as stochastic, moving averages, Ichimoku cloud, Bollinger bands, etc.) — recommended for beginners. And can be complex (with the possibility of installing your own add-ons and programming) is recommended for professionals;
- interface. Almost one of the most important selection parameters. The process of doing business should be comfortable. The choice of palette of the interface, convenient schedules, no extra saturation figures, trade in 1 click — all this can be a decisive parameter in the choice;
- the speed of the platform. How the theoretically declared parameters correspond to the actual ones, you can only learn in practice. High-speed terminals are recommended for scalping strategies;
- the presence of Russian interface. The domestic brokers offer multi-language platforms, but only some European companies have the terminals with the multi-language version in their arsenal.
Also pay attention to the presence of additional “buns” such as the ability to trade with the help of “social trading”, the installation of expert advisors etc. The advantage would be to provide broker with mobile version of the terminal for non-separable trade (or market surveillance) on the road. In many ways, these “buns” depend not so much on the terminal, but from the broker, trade rules which allow such actions.
- Important! Trading platforms for binary options are the property of the developer. In most cases, to gain access to the full functionality of the terminal you are required to purchase a license, but you can download the platform for free from the website of the broker. However, there is a catch: brokers who purchased the license, tailor the terminal to fit their technical capabilities, i.e. partially alter the program. And if you are working with honest brokers the risk of loss of the deposit is minimum, the brokers”kitchen” may add plugins that would interfere with lucrative trade. A vivid example — MetaTrader 4 (universal platform for Forex and options), where the add-in to the program may provide the opportunity to manage positions of the trader.
Summary. The selection of the program for trading on the binary options market is unique, but the added convenience (the ability to view the history of quotes, update quotes every tick, the scaling of the chart, etc.) are important for comfortable trading. For details about the advantages of the terminal (about the speed of transactions – an important parameter, which depends both on the platform and brokerage company), you can contact:
- official developer of the platform (or on his website);
- the support of the broker.
There are are the most popular trading platforms for binary options their advantages, etc on our website. Of course there are much more trading terminals but these platforms often offer brokers for domestic traders. They are clear, simple and easy to use, stable and do not fail at the most inopportune moment:
Each of these trading platforms for binary options are interesting and unique. So we recommend, depending on the selected tool and strategy, to test all of these apps on a demo account. And about what platform offers each broker you can learn in this section by clicking individually on the broker you are interested in.
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