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November 26, 2015

Top Three Aspects to Consider in a Trading Platform

No matter whether you’re trading gold, oil, forex or any other commodity, you need a broker and a trading platform that are working in your best interests. The world of trading can be a lonely one and, with so much money riding on each and every trade, it’s vital that there’s someone on your side. That being said, what should you look for in a trading platform to help you get the edge? Here, we take a look at our top three.

Real Time Analysis

When you’re executing trades, it’s vital that you have up to date information on exactly what’s happening in the markets. That way, you can make an informed decision about what to do. We all know just how quickly markets move, which is why you have to understand how important it is to have live information. One slight shift in the markets can have large financial repercussions. With real time analysis, you’ll have all the information you need to make the best possible choice, thus giving you the highest possible chance of making money.

Technical Analysis Tools

If you deal in technical analysis rather than fundamental analysis, then you’ll know just how hard it can be to find the right tools. Technical analysis is a trading essential for many. Fortunately, if you’re using the correct trading platform you’ll be able to get all the help you need. If you use Sucden Financial’s Currenex platform, for example, you’ll have access to over 40 technical analysis tools. This means you can use whatever trading strategies you like to find the trade that’s perfect for you. We all have individual ways of reading charts and predicting trends. Make sure your platform allows you to use yours.

Comprehensive Position Tracking

Regardless of whether you’re an institutional trader, a professional trader or someone who executes trades in their spare time, it’s vitally important that you know exactly what’s happening with each and every trade. Small changes in chart directions can potentially mean the difference between winning and losing money, so it’s vital that you know everything that’s happening with your position.

It’s really easy to lose track of your position, particularly if you’re executing multiple trades simultaneously or are holding multiple positions overnight. Make sure you have comprehensive position tracking with your trading platform so you’re fully informed.  

Those are our top three things that every trading platform should have. If you’re currently trading without them, it may be time to look elsewhere or upgrade.


The views and opinions expressed herein are the author's own, and do not necessarily reflect those of EconMatters. © EconMatters All Rights Reserved | Facebook | Twitter | Free Email | Kindle


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