The right choice of a trading platform is one of the key factors for successful forex trading. For novice forex traders it may well become a real challenge to choose the right trading platform. To make the right choice one needs to define which parameters of a trading platform, which is a communication means between the broker and a trader, suit their needs best. Trading platforms differ in charges applied, in an array of methods used to make deposits and withdrawals; there are desktop and mobile versions of all the most important trading platforms used in the online forex trading.
The quality of trading depends on its functionality and convenience, particulary the possibility of forex robots usage. Practically all modern Forex expert advisors are built on the foundation of the complex programming language called MetaQuotes versions 4 and 5, which are also used to create utility applications. Online trading platforms come in one of three forms: desktop (download), web (browser), and mobile (app).
The same language was used for the creation of MetaTrader platforms that are considered to be the most popular and efficient for Forex trading - most Forex brokers offer access either to MetaTrader 4 (MT4) or MetaTrader 5 (MT5) along with the subscription. A person knowledgeable in programming can create a personalized expert advisor with the help of various wizards available online, but we would advise opting for a licensed product that has been thoroughly tested unless you are very competent in the said programming language.
A trading platform is basically a workspace for traders, their work environment. Many market participants prefer to trade using the Metatrader platform. Some of the trading platforms offer live updates, elaborated trading tools and settings for safer risk management. The more extra features a platform offers, the more diverse and customized the trading process can be. In any case, all the available trading platforms are designed to make forex trading comfortable and comprehensive. When making the choice of a platform, a trader needs to figure out whether it provides automated trading, free forex signals and usage of trading robots; whether there is a version for Windows, iOS or Android, depending on a particular trader’s case.
The most profitable trading platform for you depends on your needs - whether you're a day trader, active investor, or passive investor employing a long-term buy-and-hold strategy. Forex-Awards.com offers a list of trading platforms that have proven to be most in demand among traders. You personally can express your opinion as well and vote in favor of the trading platform of your choice.
