There is nothing better than trading in a market with a guaranteed profitability. Trading in this market, or rather, profiting from it is not the easiest thing to do. But, for newcomers, it’s all about getting a hang of this market quickly. Everyone uses one trading platform or another and it’s safe to say that MetaTrader is the most common among all Forex online trading platforms used by professionals which are then recommended to beginners.
But, it is for a fact that newcomers rarely go beyond the given shebang of demo accounts or fooling around with basic trading functions. But what matters the most is making the best of the options which are available to get a better feel and know-how of the market. When it comes to Forex online trading platforms, there are more than a few things which need to be taken into consideration before even making a trade. Here are a few rarely used features in this market: -
3 Sparsely Used Features in Forex online trading platforms:
- Automated Trading Robots
Trading robots are simply software which functions on the basis of pre-mentioned specifics while working in tandem with technical tools and indicators. They are technical tools which have the added function of executing trades directly onto this foreign exchange financial market.
Online currency trading platform works as a base software program upon which other technical tools and secondary software programs function. Automated trading robots work on this platforms to automatically execute trades based on certain given functions and stratagem.
- Social Trading
Social trading is where are an individual can copy a transaction from a professional trader and execute it onto the market as a personal investment against a percentage of profits as liaison. This is one of the most popular and trending formats of Forex trading. And it’s especially so for beginners as they can earn and learn from Forex all at the same time.
These social trading platforms come in varied formats. They directly integrate into Forex online trading platforms. Or they are provided by leading trading firms (E.g. - LiteForex Social) to attract and retain new investors. But still, it remains largely unused, something which should change.
- Experts Forums
Know-how is seemingly not enough to guarantee sales in this market. But what matters the most is making sure that a trade can work out in the long run. And to do this, know-how has to add up with expertise. Experience plays a huge part in making a trade successful.
This market has a tendency to take unprecedented directions and this is where an experts’ advice can work losses into profits or at least minimal losses. Best Forex online trading platforms come with a separate forums section where newcomers can learn right from the experts.
These are some of the less-known but vital features in Forex online trading platforms which need to be used to get a heads-up into foreign exchange or Forex. Hoping they won’t be anymore.
Happy Trading and investing!
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.