pOr a neophyte trader, choosing the right trading platform involves properly understanding these three features, so as to select the one that best suits your trading profile. Trading platforms are rapidly becoming more popular and allow individuals to enter the world of trading stocks, crypto-currencies and other currencies with just a few clicks. Nevertheless, it is better to go through a platform that allows you to learn this activity for free before trading “for real”, at least without betting your money to begin with.
What is trading?
Trading is the objective of buying financial securities like shares, currencies etc. to sell them at a higher price in the shortest period of time.
What is a trading platform?
A trading platform like Avatrade is a virtual space, dedicated to securities trading activities and on which the trader will be able to interact with the financial market using all the appropriate tools. To know:
- Order entry interface
- Information News Feed*
*If you put yourself at risk on the wrong platform, you won’t be able to make good out of bad market data and make decisions that are dangerous to your business’s success.
What is a good trading platform?
The basics that a beginner should have are:
Ability to register simply and quickly. In fact, some brokers use a complicated language that you may not necessarily understand from the start. Here it is a question of choosing from the beginning, a platform that has proven itself (for example, like MetaTrader), and which will allow you to go directly to the securities you want to trade, and so on… Opting for a platform that starts Demystifies the world of business and explains to you step by step, in an intuitive way, the steps to follow.
Access to information is essential role
An online trading platform should be able to provide you with everything Technical and basic information All about trading in one place.
To do this, you must be able to access real-time information such as:
- Earnings per share
- Dividend rate
- Balance sheet and income statement
We probably don’t say it enough, but a bad trading platform can affect your stress. On the other hand, if you use a good platform, you will actually be more intellectually agile, because you will have confidence in your tools and your interface. The quality of the broker can really make a difference.
Traps to avoid
It is best to take some time and do some research before starting CFD or cryptocurrency trading. Check the site’s reputation and reliability beforehand with recent and well-reasoned customer feedback.
You must choose a platform that is well established and that can present an official license with all the approvals of the French financial authorities. Make sure that the trading platform is supervised by a recognized financial authority and has a solid and proven security system.
Finally, a good platform worthy of the name must be able to allow you to train for free money real
Trading platform fees
Brokerage fees are one of the most important factors. In fact, if you use the scalping technique, for example, it is better to choose a cheaper platform. Actually, everything will depend on your trader profile. In other words, to be successful in your strategy, you need to identify the functions you need to minimize the cost of your trades as much as possible. Conversely, if you maintain your position for the long term, the “cost” factor will be less important and in this case other attributes will take precedence.
Avatrade, a platform with a solid reputation
The Avatrade platform is arguably one of the best platforms currently available on the market, thanks to its open architecture formula. Actually, Avatrade offers three trading platforms:
- Web Trader Application (Limited in terms of features)
- MetaTrader 4, in downloadable version and web version (one of the most used and popular trading software by forex traders). MetaTrader 4 (MT4) is excellent technical analysis software that offers a variety of forex technical indicators and other analysis tools. Moreover with MetaTrader 4, we can add oscillators and many tools for CFD.
- MetaTrader 5, available in downloadable version and 2.0 version, is dedicated to all markets (stocks, cryptos, indices and commodities). The main difference between MetaTrader 4 (MT4) and MetaTrader 5 (MT5) is that MT5 is not only a Forex and CFD trading platform, but also a stock trading platform.
The trading platform makes available to you so many tools that can affect your ability to execute orders. By using a bad platform, the main risk will be not being able to execute your transactions on time and therefore recording subsequent losses.
Article written by Bertrand Duberg, consultant for AvaTrade.