Forex trading is a great option to create additional income and financial freedom for yourself and your family. Forex trading is easy if you have the right tools and education. You can get the best guide on olymptrade com.
There are many Forex platforms online today. You have MetaTrader4 to trade retail, Currenex to institutions and high frequency traders, and a variety of proprietary broker platforms. Each platform has its pros and cons and is designed for a specific type of trader: pro, newbie, technical trader or scalper. ).
It can be quite confusing, especially for beginners, so let us take a close glance at some of the most important features that go into making a trading platform successful.
1. Speed and reliability
An excellent trading platform must be able to provide accurate price information on an ongoing basis. Trade requotes and loss can result from even small delays in price information. Also, a platform that allows seamless trading should not have any downtime.
Demo versions of platforms can be used to test whether the streaming price quotations and trade execution time suit your needs. Find out if the Forex broker offers a no re-quotes/no reprice guarantee.
2. Market Analysis
Forex traders use technical analyses to trade the Forex markets. An excellent platform must have auto-refreshing tables that allow trader to view market data at multiple times (1H, 4H daily, weekly, etc.). The platform must also have a variety of popular technical indicators, such as Bollinger bands, ROC, Moving averages, RSI, Bollinger Bands, ROC, and ROC. which are often used by traders.
The fundamental aspect of a Forex platform should include a reliable live news service from a reliable news wire service that would enable traders to capitalize on economic events. Forex traders who trade on scalping should have a platform that can execute single click orders and allows you to trade directly from your chart.