Which is the best trading platform
For beginners, selecting an online trading platform can be confusing. A trading platform is a tool one uses for communicating trade data between trader and broker. There are many different options available, and you should determine which platform is best for you depending on your needs. This guide will help you refine your choices and assist you in making the best possible decision:
Fees
While some online trading platforms offer traders free usage of their services, others have a one-off sign-up fee or a monthly fee. Depending on your budget or on your needs, you will want to keep a lookout for any fees that you may incur.
Regulation
You will want to be sure that your personal information is secure while you are trading. Each country has its regulatory body, such as the Financial Conduct Authority (FCA) in the UK. You will want to make sure and check the credibility that the broker and online trading platform you choose is properly regulated so that all your information is secured.
Customer Service
Online trading in the UK often happens up to 24 hours a day; you will want to be sure that you can reach the customer service departments if the need should arise. Checking out the different customer support options that each fx trading platform offers and the wait time to receive help, could be valuable and save you much stress in the long run.
Deposits and Withdrawals
Each online trading platform offers different methods for making deposits and withdrawals. Some methods can be more time consuming than others. Try to check out the various options for deposits and withdrawals and the time each one takes can help prevent any frustrations when you are using the platform.
Platform Options
There are different platform options such as desktop, and mobile. Depending on if you are doing most of your trading at home or on the go, you will want to find the trading platform best suits your needs.
Tradeable Assets
.When selecting a brokerage, most people have stocks in mind. However, there are also many investment alternatives that are not offered by every company. These include Forex (FX), CFDs, ETFs, futures, options as well as gold/silver certificates.
Additional Features
Some online trading platforms come with different features, such as advanced charting tools, live updates, and risk management tools. Having extra features can help make your trading experience the best it can be.