How to Choose a Trading Platform

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A successful investment strategy is a carefully woven web, every strand intricate and exquisitely constructed. As a trader, you are the spider in the middle, pulling it all together to build a creation that’s strong, enduring, and capable of withstanding the test of time. Just one wrong move, and you’ll weaken the whole, so it becomes transitory, easily swept aside by a sudden, strong gust of wind – or the ever changing tides of the investment markets.

One of the most important strands to consider is the trading platform that you choose. This will act as a conduit to your investment options, and irrespective of the markets that you choose to ply, it will influence everything from the data that informs your decisions, to the speed and accuracy with which you can enter and exit trades. Here are three top tips to help you make the right decision…

Tip #1: Your Tools are Everything

Irrespective of your particular markets, one thing is certain: you need the right tools in order to accurately navigate them. These tools will not be the same for every trader, and it’s important to recognise this, and to allow it some sway when it comes to choosing your broker, and ergo your trading platform. Spend some time thinking about this before making any final decisions, sitting down and making a list of all of the tools that would be at your disposal in an ideal world. Once you have this, be sure to use it as a means of comparison when it comes to demoing various platforms and selecting the one you’ll use. 

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Tip #2: Flexibility is Important

Another factor to bear in mind is the flexibility of the platform you choose, in terms of its various incarnations. Some traders will only provide a standard downloadable trading platform, whereas others, like Sucden Financial, will offer this alongside online and mobile versions. The latter are the brokers to go for: modern trading will often require you to invest on the move, and having such a freedom will benefit the overall success of your stratagem to an indefinable degree.

Tip #3: You Should Always Be Offered a Trial Run 

Although the two previous factors are incredibly important to all traders, the suitability of a particular trading platform for you will be largely dictated by individual preference. For this reason, a demo account should always be available to trial. In the event, you cannot know until you’ve tried a platform whether it will complement your style and tactics, nor whether the tools on offer are capable of catering to your needs. The only conclusive way to ascertain this is through practical experience of the specific medium; if this is not on offer, then look elsewhere.

Follow these top tips today to find the perfect platform for you.

About the author

Mark Ross Canaoay

Hello! My name is Mark and I'm the one responsible for this website. I'm just a person with enough knowledge about finance-related stuffs. You can know more about me by liking my Facebook Page, following me on Twitter or by adding me in one of your circles on Google+.

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