There are mainly 2 types of trading platforms available to a trader for trading in forex.
The first forex trading platform is also the oldest known as Metatrader (MT4, MT5), it is software that is installed on a computer hard disk.
The other forex trading platforms are hybrid versions of a web based system that are custom made by most forex brokers and created to suit their business needs. The online trader (also known as the Applet version or the Java version) of the Trading Platform is based on internet flash technology.
A trader really needs to choose between Metatrader and a host of hybrid web traders provided by most of the leading brokers such as FXCM, eToro, AvaTrade, Markets.com, Alpari and so on and so forth.
Pros of Metatrader
There are many Forex trading platforms available but with Metatrader you have the ability to use various currencies including exotic pairs.
This is the most reliable platform for serious traders. The servers have the capacity to store huge quantity of historical data which is essential for charting. The system is highly secure as it requires user authentication. The system allows the incorporation of other applications in the Metaquotes software to provide charting information and signals in real time. It is a powerful and fully functional system designed for ordinary forex users as well as brokers. The user interface is available in different languages.
Cons of Metatrader
Metatrader is one of the best systems available but it only works on a Windows based machines. This means that it leaves out a lot of new forex users with computers that run Linux, Mac based operating systems and also users of android based tablet computers.
The program cannot react immediately to the events or the news which can decrease or increase the value of the profit. The limited rules that the user defines may not help in getting the amount of gains that they expect.
Pros of Web Based Platforms
The online platform has the biggest advantage that it is available from anywhere. This is its uniqueness that a trader is in touch with his trades as long as there is access to a computer with an Internet connection. Traders can sign in to their account on a variety of systems and devices since it is internet based. The web trading platform offers a diverse portfolio as it is capable of handling financial instruments like stocks, futures, commodities and options as well. Most brokers provide detailed analysis, charts and indicators as part of their trading platforms. Technical analysis, forecasts and buying/selling signals are also becoming part of standard customization from most forex brokers web trading platforms.
Cons of Web Based Platforms
The speed of the internet connection is the biggest drawback for online platforms, an internet connection that is slow will lead to a delay in opening and closing trades, which can mean the difference between profit and loss. Currently trading cannot be completely automated in online systems, which is a detriment to profit maximization and loss reduction goals.
International financial market is a complex inconstant mechanism...
Brokers and experts aim not only at earning money on trading but also work on their reputation and status. That is why specialists start their online pages. They share knowledge, make analysis, answer comments. Each of them improves their skills, makes special design and selects information...
Forex analytics have key importance and is an essential part of trading in the international market. With the aid of special instruments, which are called charts and trading bar graphs, a trader can forecast the market changes. To read these charts it is essential to know...
Every trader starts his or her life in the forex market with choosing a good reliable broker and building a trading strategy. Opportunities vary much in broker companies and their services. However, a beginner trader should examine not only a broker's reputation...
Work in the forex market can become a source of great profit, but the risks are also very high. Many things are dependent on a trader’s experience...
Forex robots are traders' indispensable assistants in the international currency market. They are also called forex-trading advisors. Frankly speaking, today no successful forex trader or broker can do without such a helper, because robots are able to work on a round-the-clock basis and are free from emotions and stress...
Even the best broker forex can't help using expert advisors, because these computer programs act...
Binary options are popular because of their simplicity and availability. Forex exchange is full of binary traders and brokers...
In the world of developing technologies binary trading occupies its own niche. Many people make a shot at trading in forex in the hope of reward and that is not in vein. A binary option is an up-to-date tool and a very good solution both for beginner and advanced traders..
|7||Fort Financial Services||71%|