Money Essential Parameters of High-Quality Trading Platforms


Today, global financial markets are a few clicks away. Over 15 trillion people engage in online trading across the world, and this vibrant community is growing. A platform is the core element of the system. This digital environment allows you to open, close, and manage positions through an intermediary.

In South Africa, such software is provided free of charge by global brokerage brands. It is unlocked with registered account credentials, and has two distinct modes: demo and live. Here are the key features of a top platform for internet-assisted trades.


Your Guide to Best Software

The most popular tools are either tailored to a separate market (e.g., Forex), or allow management of diversified portfolios with stocks, futures, CFDs, binary options, etc. Desirable features facilitate financial decision-making. They enable you to execute positions through your broker. Such options include:
  • state-of-the-art charts;
  • broad range of instruments;
  • quick execution;
  • industry news;
  • sound alerts;
  • real-time quotes,
  • news feed, or
  • premium research.

All platforms are divided into two categories: prop and commercial. Prop terminals are developed by large brokerage firms for their specific needs. The second type is used by retail traders and investors who buy and sell currencies, stocks and derivatives. They expect the software to be user-friendly and packed with tools for analysis and forecasting. The best Forex platform from FXTM offers both helpful features and low fees.

How to Choose

Your decision should be based on the range of features you need, as well as the acceptable size of fees. For instance, day traders should look for market-maker depth charts and Level 2 quotes. Retail Forex requires features for fundamental and technical analysis: economic calendars, price charts, etc. Meanwhile, options traders need tools that help develop strategies for the asset.

Should You Chase Lower Fees?

On the one hand, transaction costs should be affordable. However, if cheap rates come with inferior features and confusing interface, the trade-off is unjustified. The scalping trading style, for instance, prompts users to pick modest charges. As long as the platform meets your information and analysis needs, low fees are an obvious advantage.

Universal vs. Unique

Some platforms and apps are tailored to a specific intermediary. Others, such as MetaTrader 4, are used by different brokerage firms. In any case, you need to make sure that your intermediary is legit, and it is licensed to operate in South Africa.

Requirements for Use

Each piece of software may have its own limitations of use. In the field of options, you may need to trade different types of asset to be allowed onto the terminal. Day traders of equity may have to deposit at least $25,000 and acquire approval for use of leverage, etc.

Example: MetaTrader 4 & 5

These are the most popular choices for currency trades. The fifth edition has wider functionality, as it allows management of diverse assets. Through the terminal, clients may trade such instruments as:
  • currency pairs;
  • stocks;
  • CFDs on stocks;
  • CFDs on commodities;
  • CFDs on market indices;
  • CFDs on cryptocurrencies;
  • spot metals.
The platforms offer two modes: live and demo. Novices are advised to practice in the training environment, which is unlocked with a registered demo account. This way, they can explore all the features of the platform without putting any capital at stake.

The software is packed with visuals that help users time their trades. Without these charts, tables, and graphs, analysis of market trends is a challenging task. Risk management features, such as Take Profit and Stop Loss, protect against excessive losses — trades are executed automatically once the specified price level is reached.

Mobile vs. Desktop

Nowadays, desktop solutions must be bundled with powerful apps. Traders need to be able to manage their positions wherever they are. It should be possible to open a position from a computer and close it via the app, or vice versa.
For example, MetaTrader 4 and 5 are also available as iOS and Android apps. As the market is always changing, 24/7 access to the tools is imperative. Other popular platforms include:
  • Interactive Brokers,
  • TradeStation,
  • TDAmeritrade, and
  • Robinhood.

The Bottom Line

Today, there are hundreds of platforms and apps. Traders choose different software based on their assets, volume, and personal style. For example, MetaTrader 4 is convenient for trading Forex. Top choices have a simulation mode and provide a wide range of analysis tools for profitable decisions. With mobile apps, trading is now easily accessible on the go.
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