Everybody is crazy about the stock market, Forex, currencies, crypto, NFT, derivatives, and stuff. If they can do it, why can’t you? Some may recommend you to start with MetaTrader 4 download, then just install and invest. But you need some better understanding of what you enter. So here is the instruction for choosing the best trading platform.

What a Trading Platform Is

What we call a trading platform is a whole body of software tools that connect you to your broker. With a platform, you can perform the necessary operations, like:

  • Deposit and withdraw funds. Isn’t the latter what you’re in it for?
  • Place your orders and close them. Automate the process with stop-loss and take-profit orders.
  • Analyze market trends and get recommendations on what to expect.
  • See a newsfeed to keep an eye on events that may affect the market.
  • Use custom indicators that you find useful to see the trends.
  • Much more.

Most platforms exist as Windows or Mac applications that you install and customize. Some of them also offer web versions that have most of the functionality. But a web version is harder to customize if possible at all. Then, there are both paid and free platforms. You must acknowledge that nothing is really for free, and when you don’t pay for the platform, you pay the same (or more) in various fees and interests.

The Most Popular Platforms

One of the most important things, when you choose a platform, is its popularity. The more widely a platform is used, the more brokers you can choose from, plus the more instructions and discussions related to it you can read to master trading. Here are some platforms popular among traders and supported by most brokers.

  • MetaTrader 4. Indeed, it is one of the most popular platforms for Forex trading, combining simplicity and rich features, like handling multiple orders and showing indicators. Offers a mobile app as well.
  • MetaTrader 5. The next version of MT is too sophisticated, and requires some effort and investment from brokers, so it’s not as popular as MT4. Still, it has advanced analytic tools and the interface that keeps you aware.
  • Ninja Trader. This platform is developed for futures and option trading, so if you are familiar with the concept of derivatives, why not try it?
  • A platform well known for its powerful analytic tools. Paid but is worth it if you’re seriously into trading.
  • Zulu Trade. A good tool for a beginner who can earn a bit by investing into successful others while mastering the art of trading.

Trading Platform as a Lifestyle

What you must acknowledge first is that trading is not just a hobby: it’s a way of life. It’s not like spending an hour a day at your favorite videogame. The market reacts when it gets a signal, and it can appear at any moment. You better be ready 24/7, or at least during the working hours. That’s why you better choose a platform that offers a mobile app. Though its functionality is limited next to a desktop and even a browser one, you can receive signals and, say, close orders in case of urgent need.

What’s more important is that the platform you choose should be easy. If you feel tired after an hour of work, it’s not yours. You should feel comfortable with it, as the platform will be your longtime companion. So platforms are more than tools: they are lifestyles.

Hope you find the platform that doesn’t get you disappointed in trading. This form of business is now available to all. You have all it takes, armed with knowledge and awareness, so we wish you good luck!