Trading platforms are essentially software programs that can transmit real-time information over a secure communication network. At the onset, a trading platform typically streams real-time prices, charts, marketdepth and news along with a wide array of market information and tools to assist traders in their decision making process. Once the choice is made and the order placed, the platform is then used to monitor all trade related information such as margins utilized, MTM, profits/losses, account information etc.
These platforms are presented by a financial intermediary to their clients either FREE of cost, for a fee or based on certain criteria such as size of the client account, minimum number of trades to be carried out during a certain period and so on. The key purpose of a trading platform is to monitor stats as and when they occur although the quantum of information shared can vary across markets and from one broker to the other. In exchange traded markets for example, the platform acts a conduit between a trader and the exchange through the financial intermediary whereas in the case of a forex trading platform, the information shared could be between the forex broker, institutions providing liquidity and clients using the platform.
Categories of trading platforms
With the advent of internet, the traditional call and trade approach by retail investors is gradually losing traction as traders prefer to implement trades directly from the online trading platforms provided by intermediaries, resulting in both the brokers and investors saving a lot of time and money. Online trading is also encouraging a large number of traders who were earlier put off by the high fees being charged by brokers. Moreover, the speed of trade confirmations too has increased significantly and is a lifesaver for investors, especially during market volatility. With the internet evolution growing leaps and bounds, the sophistication of trading platforms too has advanced multifold and most platforms nowadays comprise of all the basic features in addition to fully automated trading systems that are compatible with most operating systems and accessible across devices to enable traders get a deeper insight into the markets and are able to monitor them even when on the move.
Trading platforms can be broadly categorized into
- Downloadable platforms- These are downloaded as an EXE file on a computer, tablet or a mobile device.
- Web platforms- Can be directly accessed from the web browser.
- Android/ iOS platforms- Supports Android/iOS operating systems developed by Google and Apple Inc. correspondingly and generally used on smartphones and tablets.
JustForex offers all three categories of retail Forex trading platforms with charts, indicators, market news, expert advisers and other tools for healthier market analysis. As a trader, you can not only create your own trading instruments but also share them with other traders.
Retail forex trading platforms-
Forex brokers offer a wide array of trading platforms to retail investors. While some of them are proprietary, most brokers prefer to offer MetaTrader 4 or MT4 as it is more popularly known by both retail and institutional investors alike. As a retail investor, your online forex trading platform should not only be FREE to download and user friendly, but it should also comprise of the following key features
- Support multiple order types
- Combination of traditional and aggregation charts with several timeframes.
- Large number of technical indicators
- One-click trading
- Compatible with all major operating systems
- Real-time financial market news
- Automated trading
- Reliable data protection.
- Encrypted data exchange between the client platform and servers.
- Free chat to communicate with other traders
At JustForex we offer the world’s most renowned MT 4 platform, specifically designed for the forex markets by MetaQuotes. The platform has a user-friendly interface which not only analyses forex and cryptocurrencies markets, but also performs cutting-edge trading operations in addition to running trading robots (Expert Advisors).