Forex trading is an excellent way to make additional income and secure financial freedom. Forex trading requires both a solid trading platform and extensive trader education, which is what most successful traders will tell their clients. Visit our website and learn more about olymp trade login.
There are many Forex trading platforms available online. MetaTrader4 is a popular platform for retail traders. Currenex is for high frequency traders and institutions. There are also a number of proprietary broker platforms. Each platform comes with its own set of advantages and disadvantages. ).
This can be confusing, especially for newbies. Let us take a closer look at what makes a trading platform great.
1. Speed and reliability
A good trading platform should be able display consistent prices. A slight delay in pricing information can lead to trade losses and requotes. A good platform should have minimal downtime in order to facilitate smooth and seamless trading activities without major disruptions.
Try the demo version to find out if the streaming prices and trade execution times suit you. Check to see if the Forex broker offers an “no Re-quotes/no Re-Pricing” guarantee.
2. Market Analysis
Forex traders often use technical analysis in order to trade the Forex market. Auto-refreshing charts are essential for any platform that allows trader to analyze market data across multiple time frames (1H-4H, Daily/Weekly, 4H, Weekly, Daily, etc.). The trading platform should also offer a number of popular indicators (RSI Bollinger Bands Bollinger Bands ROC Moving Averages etc.). traders are likely to use.
An ideal Forex platform should have reliable live news facilities from reputable news wire services. This would allow traders the opportunity to take advantage economic events. Forex traders using scalping trading strategies will need a platform with single click execution that also allows for trades directly from a chart.