A Guide To Trading Platforms

Some of us may still recall the halcyon days of traditional trading. We were required to interact with a qualified broker. He or she would then place a trade for us; collecting a tidy commission along the way. Although there are some who may still choose to utilise this method, times have indeed changed. Modern electronic trading platforms are both streamlined and highly user-friendly systems. As a result, the proverbial “middleman” has been done away with. Thanks to this technology, we are literally the masters of our domain. Let us take a look at some of the qualities which separate a worthwhile system from one that should be avoided entirely.

The Principles Behind a Trading Platform

The main intention behind this architecture is to provide the investor with an electronic medium to expedite the purchase and sale of a specific underlying asset or position. Thus, the most reputable platforms are those which are able to execute trades within a fraction of a second while displaying real-time market data. Another key aspect of such systems is the ability to access resources such as analytical charts, forums and even follow the actions of other professional traders. Ultimately, efficient software such as that which is offered by CMC Markets is able to handle these and countless other concerns.

The Principles Behind a Trading Platform

The Qualities to Look for in a Trading Platform

As we have just illustrated, some systems are much more efficient than others. It is therefore a good idea to set out a clear-cut checklist in regards to which features such frameworks should offer. A handful of pertinent questions will include:

  • What types of assets can be traded? Common examples include CFDs, binary options, currency pairs and indices.
  • What type of proprietary trading framework is offered?
  • Is this framework easy to work with?
  • Does the system provide a dedicated mobile application?
  • What levels of customer support are available?
  • What have others said about the provider?

Answering these questions will enable the astute trader to establish a firm opinion in regards to the company in question; paramount to making the correct choice.

Market analysis

The Mobile-Friendly Edge

By the year 2018, it is predicted that more than one-third of the global population will regularly access the Internet through the use of a smartphone. There are even some analysts who believe that the traditional laptop and PC may be completely ablated by 2020. Most trading platforms have already taken this into account. So, it makes a great deal of sense to provide a bespoke mobile application which is able to offer the same level of efficiency as cloud-based software. This is actually one of the hallmarks of a respectable firm. Those which have not yet applied this reasoning should be avoided, for other areas within their architecture may similarly be lacking. In the world of Forex trading (and any other form of electronic trade), efficiency is the key to success.

This is only a rough guide highlighting some of the main features to look for within a modern electronic trading platform. As these systems are evolving at an ever-increasing pace, investors need to place themselves in the best positions possible in order to turn a handsome profit.