Currently there are endless brokers available for those who are interested in the world of trading. Of course, the versatility of the market allows everyone to choose the one that suits them best according to their tastes and possibilities. However, there are certain considerations that should be evaluated before choosing the broker in order to avoid inconvenience, disappointment and unjustified loss.
Importantly, the trading platform and the broker are not the same, although the terms generally tend to be confused. First of all, it must be understood that the broker is an intermediary entity between the stock market and the investor, for its part, the term trading platform refers exclusively to the work tool in which orders are given to operate, that is, It refers to software, a program that is in charge of processing the information that is sent to the broker.
Considerations for Choosing a Trading Platform
Obviously there are many questions when choosing the best trading platform, however it is best to make a comparison of some aspects, with which we can guide our decisions in the best way, In this sense, it is suggested to obtain information from the platforms available and evaluate the following points:
Stock Market Instruments: to choose a platform you must evaluate the number and types of stock market instruments available to operate, considering the knowledge and skills, in addition to the experience you may have.
Functions: in the case of social trading, sharing experiences and strategies is essential for its development, so it is important to know if the platform allows you to see and share experiences.
Practicality: when choosing the trading platform it is important that the software is practical and friendly, since through it, operations will be carried out in the market and it is important to identify with the platform.
Speed: it is important that it is quick to execute operations to guarantee its effectiveness.
Compatible Software: to select a trading platform it is necessary that it is fully compatible with the operating systems available in order to avoid problems in its operation.
Recommended broker platforms
Of course, there are platforms that have been recommended among traders, due to their good performance against trades. Below are some of the best broker platforms:
Plus500 Webtrader: it is free and downloadable for android and iOS. It offers charts to analyze the market. It has more than 90 technical indicators and you can access the “feeling” of the market. Regulated by the Australian CySeC (# 250/14) and ASIC (AFSL # 417727), it is also listed on the London Stock exchange.
eToro: it is a free social trading platform, for an amount you can access the strategies of other users and copy them for your operations, it allows you to evaluate the market through charts and it is also possible to see the market sentiment and evaluate in the tool ” people ”the effectiveness of other users’ operations and you can even chat with them.
Meta Trader 4 and 5: it is free and allows you to study instant and pending orders, it does not require you to download the software since it works directly online, it allows the download of data history and it has indicators of different types that allow you to make a better market analysis. It allows to have 2 simultaneous accounts and an endless number of demo accounts.
In short, trading platforms are often repeated in different brokers. In these cases, we must choose the best broker that we have in mind, and the one that gives us the most security.