Forex trading can be a great way for you to earn extra income and provide financial security for your family. Forex trading success is dependent on two things, as most traders know: good trader education and a great quotex trading platform.
Today, there are many online Forex platforms. You can choose from MetaTrader4 (retail traders), Currenex (institutions and high frequency traders), and many other proprietary broker platforms. Each platform is unique and each has its advantages and disadvantages. ).
We know that this can be overwhelming, especially for novice traders, so let’s take a look at some key elements that go into creating a great trading platform.
1. Speed and Reliability
An accurate and consistent price display is one of the key aspects of a trading platform. Trade re-quotes can be caused by even a slight delay in the price information. A platform that is reliable and has minimal downtime should allow for smooth trading without disruptions.
You can try the demo platform to check if you like the streaming price quotes, trade execution speed and other features. You should also check to see if the Forex broker offers a guarantee of “no price re-quotes/no price repricing”.
2. Market Analysis
Forex traders rely on technical analysis when trading the Forex market. It is essential that a platform has auto-refreshing chart which allows traders to analyze market data over multiple time periods (1H, 4H and Daily, as well as weekly, monthly, etc.). The trading platform must have a wide range of technical indicators such as Bollinger Bands and ROC. which are frequently used by traders.
An ideal Forex platform must also offer reliable live news from a trusted news wire service. This will allow traders to profit from economic events. Forex traders who use scalping as a trading strategy should look for a platform that allows them to trade from their chart with one click execution.