Forex trading platforms offer traders live quotations of various trading instruments, all the necessary tools for trading and making technical analysis and many more.
Basic Factors of Forex Trading Platforms
MetaTrader 4 trading platform is the most popular among traders.
Metatrader 4 can be used on multiple devices. So, apart from the desktop computer, you can also use it on the devices powered by the popular Android system - MT4 for Android - and also iOS - MT4 for iOS. Traders can also log in to their accounts from anywhere in the world on its web version - MT4 WebTrader - without having to download the MT4 software, which gives them the ability to trade at their convenience.
All brokers provide MT4 platform, but IFC Markets has designed its own trading terminal – NetTradeX for its clients. Being professionally designed, NetTradeX has become a platform which is on equal terms with MetaTrader. Both of the platforms are offered for various devices, thus making trading more available.
Forex trading platforms should provide all the necessary features for realizing trading operations and making an accurate analysis. The professional trading platform should provide:
- User friendly and multilingual interface so as to be understandable for everyone without any confusion.
- Tools for market analysis that are the keys for developing Forex trading strategies and making a deep technical analysis.
- Various order types, so as to suit to different trading strategies
- Integrated language for automated trading
- News to keep traders updated on market changes
How to Choose Forex Trading Platforms
While deciding what trading platform to give preference to, traders should take into consideration the following factors:
- Interface: Give importance to the interface, whether the latter is simple, straightforward and easily understood. In addition, it is important to choose a multilingual terminal.
- Technical analysis tools: Find out what technical indicators and graphical objects are available on the platform.
- Orders: See what types of trading orders are available: the lack of orders may become a reason for limited trading opportunities.
As most Forex brokers offer a Demo account before opening a real account, traders should feel free to take advantage of it. This will help them try and compare different Forex trading platforms, discover their features and only then determine which trading platform suits them the most.
IFC Markets is a leading innovative financial company, offering private and corporate investors wide set of trading and analytical tools. The company provides its clients with Forex and CFD trading through its own-generated trading platform NetTradeX, which is available on PC, iOS, Android and Windows Mobile. The company also offers MetaTrader 4 and MetaTrader 5 trading platforms available on PC, Mac OS, iOS and Android. You may compare the advantages of each platform.