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Which is the Best Online Trading Platform for Beginners?


If you are new to forex trading, then you must probably be looking for the best trading platform which is usually selected based on top-notch tools and resources, simplicity of navigation, functionality, pricing and customer support. Some brokers also provide tools to build your portfolio as well as demo accounts to put your skills to the test. With online forex trading for beginners gaining more and more popularity over the years, it is vital for traders to know how to choose the best online trading platform for beginners.

Read on to get a useful guide on how to choose the best platform along with some steps and features that you should take into account based on your trading style and goals. Also, you will learn about why MetaTrader 4 is one of the most widely used trading platforms around the globe.

Steps to choosing an online trading platform

When choosing a forex broker to open an account with, you need to consider your immediate trading needs as a forex trader. If you are a beginner trader, you might need to go with the one that offers plenty of educational material and resources and an easy-to-use trading platform. If there is a demo account, then you could also learn how to use the platform and enjoy a risk-free trading experience.

The following are some factors for you to take into account before choosing the best trading platform for beginners.

About the MT4 trading platform

MT4, also known as MetaTrader 4, is considered the go-to choice of the majority of traders around the world. It is actually the industry standard and the most popular platform in the CFD trading industry. MetaQuotes developed it in 2005 and although most traders use it to trade forex, it is also used to trade other markets as well, including futures, commodities or indices.

Traders can download MT4 for online trading very easily through an online forex broker. What makes it the best online trading platform for beginners is that it is very easy for traders to use to open and manage their positions within the foreign exchange market. They can also customise it based on their trading level, style and plan. There are also other advanced features offered by MT4 like access to Expert Advisors (EAs) and automation of trading with specific algorithms.

Why trade with MT4

Below are a few of the reasons why MT4 is considered the best online trading platform for beginners. It basically has all the necessary features that can help new traders learn and evolve as they trade.

#source


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