Different Trading Platforms

 

Choosing the right Forex trading platform is essential if you’re going to be trading on every single day. You need a flexible trading platform that fits all your personal trading needs. Trading the market is a very difficult process so you want to make sure you make your life as easy as possible so you can focus on the market action.

Going forward, you’re going to learn what are the most important features that you need to seek when choosing a Forex trading platform. First, you need an easily operated and accessible Forex trading platform that offers you all the tools needed for your technical and fundamental analysis.

You need a reliable and stable trading platform that doesn’t go offline the moment you open a trade. Furthermore, it’s crucial to have a secure trading platform that can offer you a transparent trading environment. Ultimately, as a trader, you want to research what are the best options available to you in terms of Forex trading platforms before you trade with your hard earned money.

We live in a fast moving world where new technological innovations have enabled an explosion of ultra-competitive Forex trading platforms that are available to you.  We have written a practical guide that covers the most popular and trusted Forex trading platforms and the most competitive platforms.

 

MetaTrader 4 – Fx Trading Platform

 

 

The MetaTrader 4 trading platform is without a doubt the most popular Forex trading platform. Millions of traders with different level of experience and different trading needs have chosen MetaTrader 4 as their main trading platform. The MT 4 platform was first released in 2005 and it was developed by MetaQuotes Software. Since it’s widely accepted and used by many traders the MetaTrader 4 platform is provided by the majority of the Forex retail brokers.

The MetaTrader 4 is not just a charting platform, it’s also a platform that you can sync with your broker, you can connect it with multiple accounts and unlike with the regular charts, the MetaTrader 4 provides you with full functionality where you can set automated trades also called Expert Advisors or EAs.

The MT 4 platform is rich in technical indicators as it comes with more than +50 free indicators that you can customize and you can modify. For a novice trader, the MetaTrader 4 is the best technical analysis solution and charting software as it’s very intuitive to use.

With the MT4 platform, you can also have the One-click trading option which is the fastest way to trade through a chart.

TradingView – Fx Trading Platform

 

 

TradingView is a web-based Forex trading platform. Actually, it’s also a multi-assets online trading platform because it offers charting solution for stocks, commodities, indexes and many more instruments. You can access the TradingView platform through any internet browser.

What really separates this software apart from most other ones is the social aspect of trading. TradingView is more than just a simple trading platform is a social network platform that allows traders to interact with each other and share trading ideas. TradingView was really designed from the ground up to allow traders not just to do your technical analysis, but then also to be able to publish and share ideas and receive feedback.

TradingView offers a broad range of charting tools that can help you improve your Forex analysis. You can also subscribe for a monthly fee to their Pro account where you can have access to even more features.

cTader – Forex Trading Platform

 

 

cTrader is a cutting-edge Forex trading platform catered for institutional traders. Even though you can easily customize the default interface of the cTrader platform has a professional design that can cover almost all your trading needs.

Unlike other trading platforms, cTrader is a very stable platform that rarely freezes which is something that all trading platforms should strive for. The cTrader is a standalone trading platform, but at the same time, you can access the platform through any internet browser which means you won’t need to go through an installation process.

The main feature and characteristic of cTrader is the DOM (Depth of Market) ladder which means that you’ll be able to see the liquidity available on both sides (buy and sell side) of the market. This means that you’re connected directly to the liquidity providers instead of trading against your broker.

 

TradeStation – Forex Trading Platform

 

TradeStation is a platform with great tools, it has a great data feed and it’s a broker so you have everything you need to start trading all in one place. TradeStation like many other trading platforms can be accessed through desktop, web browser and last but not least through mobile apps.

Just about everyone who invests or trades can have a great experience with TradeStation. In terms of usability, TradeStation is a little bit more complex trading platform because it’s a multi asset platform not just for Forex trading.

When it comes to trading speed is very important and you should always be concerned how fast you can execute your trades. How many milliseconds does it take to execute a trade? Trading is about speed and velocity of movement and in this case TradeStation is very fast

The main downside with TradeStation is the fact that you’ll need to pay a small monthly fee in order to be able to trade through this platform. If you’re thinking seriously about trading, TradeStation is one trading platform that you can consider using.

One of the reasons why so many traders choose TradeStation is because it has Easylanguage which is a proprietary programming language used to create automated trading strategies and build indicators. Best of all, you can backtest and optimize your strategy.

Summary

 

Choosing the right trading platform can be detrimental to your future success, especially if you’re just starting in this business. There is no perfect product that can satisfy all the users. In this regard, you should choose the Forex trading platform that can meet all your trading needs and above all, it needs to make your life as a trader much easier.

There are many options you can choose from so you’ll have to factor in the most important feature that your trading is dependent on. Once you figure out what your trading needs are, you can move from there and narrow down your available choices. Last but not least, no matter what your preferred trading platform is, make sure you first have a profitable trading strategy.

Thank you for reading!

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