The best trading platforms in the Forex stock market

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Where to start or which broker to go to? Similar questions are asked by both novice traders and experienced experts in their field. And it is not surprising, because a lot will depend on the choice of a broker and its provided trading platform. It is possible that a trader will not make a profit using one of the terminals, but will become a profitable player on the other. There are various trading platforms in terms of quality and complexity, some are quite simple and understandable for beginners, while others may require specific knowledge and extensive experience to work, although today brokers are trying to simplify the tools provided to the maximum.

What is a trading platform

This is a software tool for performing various operations in the currency and securities markets. In fact, without a platform, it is impossible to enter the Forex markets. Different brokers provide different software for transactions, but in general, the principle of operation is the same everywhere. The trader is provided with charts, various indicators, and sometimes news reports and trading tips. Forecasts can also be providedfor certain assets.

Types of platforms by market

There are two types of trading platforms. Those that work with the Forex markets, and those that work with binary options. The second ones are "trading binary platforms". Forex markets are the most complex systems that require large investments and complex instruments, unlike binary options, where you only need to correctly predict the behavior of the market for various assets or currency pairs in a certain period.

The difference between Forex and binary options

The main difference is that the Forex markets require a more thorough study of the instruments of operation and the development of most of the processes taking place in the asset and currency markets. It is very important not only to catch market changes, but also to take advantage of them in time. The process of entering the market, as a rule, is accompanied by the loss of part of the deposit due to the difference between the cost of buying and selling an asset, which can create additional difficulties when developing a trading strategy. Forex trading involves a lot of risk, and you often have to use borrowed funds provided by a broker to make a good profit. This is not a loan in the classical sense, but a quick loss of the deposit is possible in case of unsuccessful use of the loan. This loan is called leverage and can have different values. For example, 1:100, which means that you, having 1 dollar, will be able to operateamount of 100 dollars. These values may vary depending on the decisions of the trader.

As for binary options, everything is much simpler here. Depending on the type of option, the trader makes a forecast for certain assets, for example: the price of the euro / dollar pair will change upwards in relation to the current value in 60 seconds. Next, the trader pays, for example, $1 for exercising the option. If the price changes, in this case, up, then the trader will receive, for example, 80% on top of the execution cost. It turns out that the profit will be 1 dollar 80 cents, which is very good for 60 seconds of waiting. If the price falls, the trader will receive nothing or receive a certain percentage of the contract value. The amount of the return will depend on the chosen broker and the specified options trading parameters. All presented values may be different, for example, the option execution time, depending on the broker, can be 15 minutes, an hour, or even 3 hours. As well as the cost of one transaction, it can be either 2 dollars or 100. Also, trading can be carried out in another currency, rubles or euros, again, depending on the chosen service provider and the parameters you set.

Popular Forex platforms

The most common Forex trading platforms are MetaTrader4 and MetaTrader5, but there are many modifications, additions, various options in the form of advisors and trading robots, as well as some other trading systems and terminals. Transactions in theseterminals can be performed both using a program installed on a personal computer and on mobile devices under different operating systems. There are also trading platforms that work through web browsers. Some brokers have and provide their own experience for trading.

Binary Options Trading Platforms

In the field of binary options, there are many brokers that provide online trading services and, accordingly, have their own terminals. As in any area, in this one there are both not very high-quality programs, and the best trading platforms. Among them, just like in Forex, there are simple and understandable programs for beginners, and quite difficult tools that require training. You can consider individual trading platforms in more detail, reviews will be presented later in the text.

"Olymp Trade" - trading platform

This company has proven itself well in the binary options market. "Olymp Trade" is a trading platform that is armed with attractive tools. This broker also provides free webinars, tutorials and demo accounts. Not every trading platform has them. The option can be returned in case of non-execution (50% of the transaction), there are also such useful functions as a candlestick chart, various assets, technical analysis. Profitability in the case of an exercised option on averageequals 80%, which is pretty good. As for the payments of real funds, the broker fulfills its obligations in accordance with the user agreement in a quality manner. Well suited for both beginners and experienced traders. Most bettors are particularly pleased with the above possibility of a refund of part of the funds in case of non-exercise of the option. This can save a significant part of the funds in case of incorrect forecasting of market behavior, for example, a sharp and long rise or fall in prices. This may be due not only to the technical aspects of market behavior, but also to fundamental reasons, such as positive or negative news reports.

"Titantrade" - trading platform

Titantrade is a broker that also specializes in binary options. The company itself is registered in London and enjoys a diligent reputation. The trading terminal of this company has the ability to operate with many different assets, currency pairs and stocks. The execution of contracts has a different life, there are per-minute options, and there are long-term ones. There are also a number of interesting tools, for example, the return of part of the funds in case of loss, the ability to copy your own transaction, as well as the postponement of the execution of the contract for ten minutes. Just like most brokers, there is an opportunity to play on a demo account, there are free online training seminars, various materials and videos that can help new players. "Titantrade" is a trading platform thatsuitable for different categories of traders. Both beginners and experienced players in the markets will find positive aspects for themselves using the services of this company.

Iq Option

Another quality binary options broker. Conscientiously and regularly provides services related to option trading. Registered in 2011 in Cyprus. Has several different licenses from Russian and European regulators. The Iq Option terminal is made very high quality, the trader is provided with a nice-looking design, a lot of indicators and tools for technical analysis, several types of charts to choose from. The minimum deposit is $10, the minimum contract value is a dollar. Just like other brokers, this one provides the opportunity to play on a demo account, there is a function of returning part of the funds in case of unsuccessful execution, but at the same time, part of the profitability is also lost in the event of a profitable transaction. Similar to other service providers, Iq Option provides a mobile terminal and web browser access.

Results

Choosing the right binary options broker is entirely up to you, your preferences and requirements. The main thing is to choose the most suitable broker for you, based on the reviews on the network and the necessary conditions that you choose for yourself. Each of your brokers has its own advantages and disadvantages, they have different trading platforms. Some of the service providers have a high-quality design and simplicity, somewhere there will be a small minimum deposit, whichgood for beginners, some of the brokers process payments and withdrawals quickly, somewhere you will be pleased with the large number of provided data, charts and tools with indicators.

Remember, trading binary options involves some risks, requires some knowledge in the field of finance, as well as a lot of experience. Before you start trading on a real account, you should study in detail the materials that the broker provides you, as well as practice on demo accounts. Happy trading!