A forex and stock trading platform is software or interfaces through which an investor can open, close and manage the market positions. Such trading platform services are offered by brokers either for no cost or at a lower price in exchange for closing a certain number of successful trades per month. These platforms either come as web-based, or through software or in the form of apps. Whatever may be the source, reliable platforms will always exhibit similar working functionality.
Breaking down a forex stock trading platform:-
The trading software works on the principle of market analysis. It includes charts and candlesticks which help him forecasting the current market trends. Be it for stock or forex; an investor needs to sign up with a margin account to be eligible for using any particular software. This allows him to get registered with a broker of his choice and start trading with currency pairs.
Subdividing the platforms:
However, before one opts for such a trading platform, it is vital to throw some light on the basic types of trading platforms.
- Via a software:
Be it stocks or forex; this approach requires an investor to install a forex and stock trading platform in one’s laptop or pc. The platform works through this software and only requires a stable internet connection. However, trading through such software requires a trader to be present in front of his laptop to monitor the market.
- Over the web:
With the majority of the users opting for Windows OS, it has become a tedious task for Mac or Ubuntu users to trade forex due to the unavailability of standard softwares. Therefore, to escalate the customer base, brokers are slowly opting for web platform trading.
A forex and stock trading platform over the web requires only a reliable and responsive internet connection. An investor can operate his account and manage his trade from any place around the world that has a computer. One can use any browser of his or her wish while trading forex or stock using this approach.
- Through apps:
In this booming decade of smartphones, a large number of forex stock trading platform providers have opted for app services. With a single touch, the whole market comes live on your screen that includes live prices, news trends and implementation of strategies.
Trading via smartphones makes your account location independent. This allows you to take advantage of significant news or data releases that have the capability of moving the market in a significant way. Moreover, one can also benefit from overlapping session timings in forex.
Things to check:
Before opting for a forex and stock trading platform of your choice; ponder over the following points to ensure a profitable trading experience:
One should be able to place orders in a safe environment. The platform should execute orders consistently with minimal latencies.
It must ensure confidentiality of your personal information.
You should be able to perform technical analysis from charts and candlesticks through the software.
It should broadcast real time price feeds without any delay.
A conclusive overview:
So, one can say that choice of the correct forex and stock trading platform is essential to ensure profitable trades. Moreover, one should also check for the genuineness and authenticity of a broker before signing up.