In addition to choosing a broker, you should also read the currency trading software and platforms you offer. The trading platform is the central element of your business and your main work tool. If you are a Forex beginner, when evaluating a trading platform, make sure that it includes the following components:
Trust
Do you trust your trading platform to deliver the results you expect? Being able to rely on the accuracy of quoted prices, the speed of data transfer and the speedy execution of orders is essential to enable Forex to trade successfully. Even more, if you plan to use very short-term techniques such as scalping.
The information must be available in real-time and the platform must always be available while the Forex market is open. This ensures that you can present yourself at any opportunity
Security
Will your funds and personal information be protected? A reputable forex broker and a good forex trading platform will take steps to protect your data and the ability to back up all key account information.
This will separate your funds from their own funds. If a broker can't demonstrate the steps they've taken to balance your account, it's best to look for another broker.
Independent account management
Any forex trading platform should allow your broker to manage your trades and your account independently without having to take action on your behalf. This ensures that you can work with the market as it moves, capitalize on opportunities when they arise and control any open space.
Analysis
Does the platform provide embedded analysis, or does it provide the tools needed for independent basic or technical analysis? Many Forex traders trade using technical indicators and they can trade more effectively if the platform does not look for it but can access this information within the trading platform. This should include charts that are updated in real-time and have access to up-to-date market data and news.
Admiral Markets provided a screenshot of the MetaTrader Supreme Edition.
Disclaimer: The charts for financial instruments in this article do not constitute business advice or a request to buy or sell any financial instruments for example purposes and provided by Admiral Markets (CFDs, ETFs, shares). Past performance failure is not an indication of future performance.
Automated trading functionality
One of the advantages of Forex trading is the ability to open positions and determine the level of an automatic stop loss and gain, which will close the trade. Once you have defined the parameters for these strategies you should have the effectiveness of the most sophisticated trading platforms.
Admiral Market's platforms are MetaTrader 4 and MetaTrader 5, which are the easiest to use multi-asset trading platforms in the world. Both platforms can be accessed through a variety of devices, including PC, Mac, iOS and Android devices, as well as MT4 and MT5's MetaTrader WebTrader platform, web browsers.
These are fast, responsive platforms that provide real-time market data, which is very important for Forex trading. Moreover, these platforms provide automated trading options and advanced charting capabilities and are highly secure, which helps foreign traders.
MetaTrader 5 is the latest version and has many additional features:
Access to thousands of financial markets
A mini terminal that provides complete control of your account with a single click
38 Built-in trading indicators
Ability to download tick history for different devices
Actual volume trading data
Free-market data, news and market education
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