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Choosing a Broker: A New Traders Guide
5.Trading Platforms

A trading platform is a trader’s window to the market and the place where he or she will spend most of their time. That’s why a robust, secure and powerful trading platform is a must when selecting a broker.

Many brokers offer proprietary trading platforms, and it’s always a good idea to check their features with a demo account first before applying for a real account. In-house developed trading platforms can be very powerful and feature a bunch of options that can make your trading easier.

On the other side, there are also third-party trading platforms like MetaTrader 4. MetaTrader is the most popular trading platform among retail traders, with a large online community and thousands of available add-ons for any trading style and strategy. The platform features a range of different market orders, advanced charting tools, backtesting capabilities and automated trading – all packed in an easy-to-use interface.

In addition, if you’ve already traded on MetaTrader, you’ll find it much easier to switch to a different broker that also offers MetaTrader.

Mobile trading apps and web-based platforms are also a must in today’s fast-moving financial markets. With mobile apps, you’ll be able to open, manage and close trades directly on your smartphone or table, wherever you are. Some apps even provide research and charting tools, which allows you to analyse the market on the go and place a trade whenever a trading opportunity arises.

Similar to mobile apps, web-based trading platforms provide you access from any computer with a web-browser – in the library, at the airport or in your favourite internet café.

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