The Importance of Trading Platform Selection in 2019
An Authoritative Guide on How the Right Trading Platform
Before proceeding to the analysis of a trading platform’s services and functionalities, it is necessary to determine the very concept of what a board is. The easiest way to imagine it is in the form of a specialized software for selling and generating business analysis in relevant areas. Most modern boards allow users to track various schedules and also provide a significant number of indicators that help users and brokers conduct selling operations. At present there are a lot of available boards in the market that can be installed on a PC or uploaded to the cloud.
It is also worth noting that before choosing a particular board, it is recommended to try to work with your preferred version in demo mode. Through this, not only will you learn how to use the essential tools for selling, you will also learn the ropes of the program that you would be using. To better understand what a modern board is, it is necessary to delve into the main characteristics that it must possess.
Facing a Platform Slip Rate Feature
While the services are specialized and the software was developed by financial business professionals, these are not without drawbacks. Such an example would be “slippage”. As soon as you place a stop-loss order with high volatility and sharp fluctuations, the order can be executed automatically. However, the order itself will be performed not at the price beneficial to you, but according to the closest values in a limited period.
As this is the case, the price between the desired price and the actual selling price may differ. The order will be implemented in a negative value. Such an effect in the financial world is called, “negative slippage”. Hence, it is vital that the software you will be using can respond to news price changes as quickly as possible. Although almost all information programs have a certain level of slippage, some of them function a little faster and can therefore easily reduce risks for traders.
The Trading Platform’s Functionality
The functionality of the trading platform is one of the most important when choosing a powerful board. If your board freezes in the most unfortunate time, you may experience a significant loss. Industry offers are volatile to a certain degree and a trending event can drastically affect the economic situation in your chosen market. That is why the question of the board’s reliability is a trader’s top priority. If you often take aggressive selling strategies, this indicator is critical for you. On top of this, finding a stable information service will be a real challenge. If you are selling on a more passive approach, this indicator will become less critical, not less critical however, when compared to conducting selling operations.
Intuitive trade board interface
While the user is engaged in active selling strategies, some operations such as the placing of orders or closing of deals should be performed as quickly as possible even through the use of special charts. One-click Selling is an advantageous function provided by a number of brokers. It is necessary to check how the interface can be learned and navigated through quickly and easily.
The benefit of “one-click active management” and an intuitive interface will help a trader perform product selling operations faster and with greater efficiency. In addition, if the software you plan to use allows you to easily observe several information graphs, (i.e. for scalping strategy) then it might be a good choice.
Vital auto selling options of services
Some modern boards allow you to automatically manage your offers. You can pre-set limited selling scenarios upon the occurrence of one; this will be carried out automatically. This refers mainly to the placement of various privacy orders. Nevertheless, you need to be careful during this stage and make sure the equipment is working properly so that you may collect profit. The most effective and modern trade program necessarily offers this functionality. No matter how advanced and practical the service is, it always requires manual configuration options at the beginning of your products selling strategy.
Bitcoin Selling Board Peculiarities
Bitcoin is the most popular cryptocurrency. It is known globally. Not many people expected Bitcoin to make such an impact. Today, Start-ups are not the only ones trying to use the cryptocurrency in their endeavors. Large corporations are also beginning to understand its system and all the trends surrounding it. They are also starting to accept payments using this financial instrument. That is why the interest in the coin increases every year.
Today, there are a considerable number of options that help investors quickly and efficiently trade this cryptocurrency. If you take into account the most popular exchanges, they operate mainly by online transfer. However, their main advantage is that access to the trader’s account can be done from anywhere in the world. Also, even if a tool such as Bitcoin does not qualify as an entirely legal service in your country and the state regulators provide certain bank restrictions for its use, this will in no way affect the customer.
Among the most popular and effective Bitcoin exchanges worth looking into are as follows:
Binance Trading Platform Offers
This online exchange consistently shows annual growth. Although the international exchange completed the ICO procedure only recently, it is consistently placed among the Top 10 Largest exchanges that trade in Bitcoin. While the management of this company is located in China, it has a global geographical coverage.
Binance, which initially positioned itself as a centralized online exchange, subsequently decided to expand its functionality and now provides the active trader with the right conditions for a secured Day Trading. To begin working with this board, a customer must first go through the registration procedure using emails. The process itself is speedy; the company has a promotional balance cash bonus that it provides each trader with 1 QTUM coin.
High-class Daily Trading Platform Performed by Bittrex
This is one of the most comfortable and easy-to-use trading platforms for Bitcoin. The headquarters of this company is located in the USA and provides the active trader with the opportunity to trade with more than 190 of the most popular crypto coins. The online exchange adheres strictly to the rules and regulations for selling cryptocurrency and conducts its activities following all the applicable US security laws.
This allows users and brokers to be confident with the integrity of the company and the safety of their coins. Bittrex performs almost the biggest daily Bitcoin selling among all exchanges in the world. Before you start working with this selling board, a customer will need to verify a bank account with the appropriate documents that will help confirm his or her identity.
Biggest Bitcoin trading board by Poloniex
Today, this international board generates the most substantial daily selling volume for all cryptocurrencies in the world. For the convenience of investors and brokers, the company allows you to deposit any cryptocurrency or USD into your account to proceed to active selling. We recommend that you take great care of your account and set up a two-step authentication process in the “Settings” menu. Afterwards, add the necessary amount of coins to your account. What sets this security exchange apart from other software is that it allows an active trader to experience stop-limit orders which are designed to reduce risks. Another convenient tool is the scalable graphs, which helps assess the history and dynamics of international business correctly. By and large, if a trader plans to trade Bitcoins, then this board is one of the most optimal management options.
Forex Selling Board Policy
The Forex is the most secured board in which buyers and sellers are engaged in the exchange of various volumes of currency pairs and other products at an agreed cost in advance. In other words, this tool helps individuals, as well as the company and the central banks to manage multiple currency pairs. If the main functions of traditional currencies are understandable to the overwhelming number of people, then currency conversion in the Forex business has only one goal and that is earning high profits.
The daily volume of currency conversions on platforms in high volumes can significantly correct price fluctuations and make this market highly volatile in a short period of time; this would prove profitable for traders. The higher the market volatility, the greater the likelihood that a user will be able to acquire a significant amount of profit. Nevertheless, it should be understood that the high volatility of business is a high degree of risk balance. One should be wary of this.
Without a doubt, MetaTrader 4 is the most popular and relied-upon trading platform in the industry today. This international software was developed about ten years ago by MetaQuotes Corp. The most popular boards from this company are the services under MetaTrader 4 and MetaTrader 5. We will try to focus more on the main characteristics of each of these trading platforms and understand their respective peculiarities.
Mastering MetaTrader 4 trading platform
This board was developed exclusively for the Forex market and is a specialized software for working with various tools. Since Forex selling is a relatively-new area in the financial market, MetaTrader 4 is the first service that was able to provide reliable selling operations. The most useful functions of the product are the following:
- Perform basic selling strategy in a click of a button;
- The extensive functionality of all business tools;
- Ability to manage more than 50 indicators;
- The ability to use limit orders in an account;
- Access to an advanced number of business schedules;
- Access to weekly news;
- Bank Account Privacy.
Considering MetaTrader 5
In essence, this is an updated version of MetaTrader 4 to which more functionality has been added. All the flaws in the previous version have been fixed. Among all the main features of the new board, it is worth noting that trading activities have become a little faster and its functionality supports more types of selling orders balance. Traders often note that with the help of MetaTrader 5, the user would be able to sell charts with higher volumes. As a result, the efficiency of all processes will be furthered.