What should a good trading platform be able to do?
Nevertheless, many traders do not pay enough attention to this platform - among others when comparing brokers. However, the trading platform is actually an important element when it comes to finding the best broker and thus having the greatest chance of trading successfully in the long term. In the following guide, we will go into what a good trading platform should do and what details you have to pay attention to when comparing brokers and comparing the different trading platforms.
Trading platforms come in different variants
The comparison of trading platforms is also so important because almost every broker provides a different trading platform. This applies in particular to the trading platform developed by the provider itself, but there is also cross-broker trading software offered by several Forex brokers.
In the overview, the following variants of trading platforms exist:
platform developed specifically by the broker
cross-broker trading software, for example MetaTrader
browser-based trading platform
trading platform to be installed
mobile trading platform
On the one hand, the trading platforms can therefore be differentiated according to whether it is a cross-broker variant or a trading platform developed by the provider. By far the best-known cross-broker platform is MetaTrader, which is now provided by some brokers in the MT4 or MT5 variant. Quite a few forex brokers also provide their customers with several trading platforms to choose from, for example the sg-exness.com/exness-accounts as well as a specially developed platform as an alternative. A list of all brokers that offer MetaTrader to their clients can be found in our MetaTrader broker comparison.
The other rule
The other distinction that can be made between the trading platforms is the way in which the trading platform can be accessed. In this section, there are usually three variants, namely the browser-based trading platform, the trading platform with software to be installed, and a mobile variant. Each of these three versions has its merits. For example, the browser-based trading platform is particularly suitable for traders who trade more often from different devices. This can be, for example, the desktop PC at home, the laptop for on the road or even the smartphone, which can be used for trading during business trips or from the vacation resort. The desktop trading platform is usually equipped with more functions, but can only be used from a terminal on which the software has been installed beforehand. This variant is particularly suitable for traders who trade 90 percent of the time from the same PC or laptop anyway.