Characteristics Of Good Trading Platforms
A great trading platform is just as important as the trading skills of the trader. So every trader should do sufficient research on the topic and get the best trading platform that he/she can get his/her hands on.
Easy To Use
The best trading platforms are user-friendly. They usually have a one-click execution tool. Where in one click you can enter or exit a trade. This is key as over-complication of such processes can result in the loss of large sums of money which is not ideal for any trader.
Responsiveness Of The Platform
This is very key especially for scalpers who get in trades and out in a couple of minutes. In such cases even the second of exit and the exact pip value is important. Ever been in a trade and somehow the platform ignores your stop loss and exits you out of a trade even deeper in a loss? This is one of the worst scenarios that traders want to be involved in. This is caused by the level of responsiveness of your platform. The more responsive the platform the better it is for you.
Price Feed Reliability
You should get a platform that not only shows the true price but also shows it in real-time all the time and has 100% uptime. You would not want a platform that is not always up as this may cause you to miss some profitable setups simply because of the incompetence of your platform. Trading on its own is stressful. The last thing that should add to that stress is the trading platform.
A trading platform that allows bots is a great platform as well since traders are not limited to only trading manually. One can even participate in the markets even when they are not in front of their screens. Such platforms allow traders to make profits whilst there are not even working.
Analyzing the charts well is what makes traders successful. Therefore it is important for traders to use platforms with a plethora of analysis tools as these will give them an edge in the markets.