Short Term Trading forex trading links forex trading books market statistics trader values euro and us dollar Shocks Crashing Is Your FX Trading Platform Right for You?

Monday, 27 August 2012

Is Your FX Trading Platform Right for You?

Your FX trading platform is one of the most important aspects to trading on the market. You’ll see it nearly every day, and it has to provide you with everything you need. It’s the nerve centre of your whole operation, and everything happens through it. Are you happy with the one you’ve got?

There’s no point trading on a substandard platform, or one that doesn’t give you all of the tools you need to succeed – it could be hurting your profits. Many brokers have their own platforms, and many also offer popular software such as MetaTrader 4, so there’s a lot to choose from.
What are the most important features of a good trading platform?
·   Access– You should have access to the biggest range of products possible. The best platforms offer more than 150 FX crosses, and also CFDs, ETFs, Stocks, Options and Futures. Don’t miss out on anything.
·   Tools – There are plenty of tools to help you maximise trading success, and it’s very handy if you can get them all in one place. Chart pattern identifiers are an especially potent asset. Many brokers offer such services free of charge with certain platforms and accounts.
·   Flexibility – Why bother with a platform that you can’t tailor to your needs? Being able to display everything you want, when you want, in the way you want is incredibly helpful. It also saves time.
·   User Experience – This is something that until recently had been neglected by the creators of trading platforms. With so many platforms to choose from, users are becoming picky, and developers have noticed. There’s now a distinct focus on usability – does the platform feel right? Are functions where you want them to be? Do you like the overall look?
·   Reliability When it comes down to it, is your platform reliable? Any down time could potentially slash profits. Some are much worse than others, so check reviews to see which are the most stable. Forex trading can be stressful – don’t make it more so with an unreliable platform.
FX Trading On the Go
One of the best recent developments in trading platforms is the ability to operate across multiple devices. This is a superb capability, because it means you can trade whenever you like, wherever you are. On a desktop computer you can use dedicated FX software, on laptop you can use a browser based platform, and you can now operate on the currency markets with a smartphone app. Excellent functionality is available across all devices.
While 24 hour trading is a well-known benefit of the forex market, it’s never been quite as accessible as it is today.
A Platform to Build Success
A good platform that you’re comfortable using is essential. While it won’t make you a better trader, it will maximise your success. Processes can be streamlined, time can be saved and more information can be obtained. Do your homework and make sure you’re getting the service you want.
The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed, neither the information presented nor any opinion expressed constitute a solicitation of the purchase or sale of any forex, futures or commodity product. Those individuals acting on this information are responsible for their own actions. Forex, futures and commodity trading may not be suitable for all recipients of this report. The risk of loss in trading forex, futures and options can be substantial. Each investor must consider whether this is a suitable investment. All recommendations are subject to change at any time. Past performance is not a guarantee of future results. Please Note: All performance figures and illustrations were obtained using historical back testing on a computer and are not the results of an actual account. No guarantee is inferred that future performance will be like the results shown. Futures, forex and options trading involve risk. There is a risk of loss in futures, forex and options trading.

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