When trading in a forex market,the trading platform you choose is the very important tool you will rely on in your entire trading process. Operating through an efficient and easy to use forex trading platform will translate into increased profits.
General features of a serious forex trading platform
• Accurate forex quotes. A serious trading platform has the correct trading quotes for all pairs of currency you are interested in trading. This helps you to avoid the risk of requotes and keep you in the know, so that you can initiate your trade in a timely manner, as well as monitor your risks adequately.
• Reliable deal excursion. Trading platforms should execute transactions reliably and quickly.
• Good order placements. It should allow quick entry of all categories of requests that you might need.
• Technical analysis tool. A good trading platform is one which provides all technical analysis tools such as updated charts and a variety of popular indicators for the currency pairs.
• Fundamental analysis tools. Merchants using fundamental analysis, usually require access to standard live news feeds, from a reliable news wire, such as the Dow Jones via their platform.
• Strong data security. Traders using live accounts are concerned about the privacy of their account login information and personal data. A reliable platform operates under secure Internet security protocols to ensure the clients information is backed up for extra protection in case of data loss.
• Minimal system downtime. A serious trading platform operates with minimal downtime to ensure that the clients close out trading positions at the right time.
Best forex trading tools
Forex calendar and forex economic calendar
It is a place where new fundamental events, usually announcements of economic news, are shown along with their former and the expected values.This is designed for the merchants who want to receive the fundamental updates on the Forex market. Nevertheless, this does not insinuate that the tool is meant for fundamental dealers only. The calendar is updated immediately the news is released, and the market begins to experience a new move. The most common and a very prominent regular event is the announcement of non-farm payrolls, also referred to as the NFP. Its value fluctuates every month.
The economic calendar helps you to get a better perception of forex news events that are likely to impact your practice. You will also stay informed of the changes in the economic data. Forex currency pairs also change rapidly, and all these changes are reflected on the economic calendar to help you anticipate market trends.
Current Global Indices
This helps you to keep track of the updates for leading stock market indices and additional future exchanges all over the world.
MetaTrader 4 Supreme Edition
This is a set of tools exclusively for Admiral Market traders. This edition enables operators to enjoy a more enhanced version of MT4. This ad allows you to access several important features.
This is a perfect tool for traders who like to monitor multiple assets at the same time. It enables you to trade several currencies from the same window. This terminal has the best forex trading tools. You can use One Cancels Others (OCO) orders. These orders are important for merchants who are trading major releases or looking into breakouts.
Basically, there are many forex trading platforms from independent software developers to online forex brokers. The trading platform you select can significantly impact your profits and therefore, it is advisable to select the one that has all the features you need or anticipate to require them in the future at an affordable price. AlfaTrade is a reliable company and has lots of tools that you would like as a trader.