Posted In: Financial News
Trading in the financial markets is not so easy, since these markets are extremely complex and volatile. If you want to invest in the financial market, you have to sign up with an expert broker. This is because without the help of any expert broker, you cannot execute trade in these volatile markets. CFD trading is one such trading, which you can trade with the help of an expert broker.
In order to trade CFD, all you need is a broker and a CFD trading platform. But choosing the right CFD trading platform is quite tough. Some factors need to be considered during choosing a right CFD trading platform. A good trading platform is greatly influenced by those factors. MetaTrader 4 is one of the most popular platforms available in the market, and trading with metatrader 4 is highly beneficial for traders. However, a few factors are discussed below that influence a trading platform.
1. Format of the platform:
Depending on the format, a trading platform can be divided into two versions – downloadable and non-downloadable (web based). Below is a discussion of these two formats.
• Downloadable format:
This format enables you trade by downloading the trading software on a specific device like smartphones, tablets or PC. In this case, you have to carry the device where you have downloaded the software, if you want to trade outside your home. Trading on this format can be difficult for you, since it is not possible to carry your device always.
• Web-based format:
This format is comparatively easier, since you don’t need to download any software to your device. This enables you to trade from anywhere you want. This is an online version, and it is driven by using JAVA programming language. In order to trade on this format, you need to put the URL name on your device.
2. Programming Language:
Another factor that influences a trading platform is the programming language it is designed by. Any financial trading platform can be divided into several versions on the basis of the programming language. Some of the trading platforms are discussed below which are separated for being designed by different programming languages.
• The most popular platform in any financial trading is MetaTrader 4. This MetaTrader 4 is developed and designed by MetaQuote. MetaTrader and MetaTrader 5 are also designed with this language.
• TradeStation is another popular trading platform that is designed with Currenex, cTrader.
• LuaActTrader is designed and developed by the programming language ActFX.
3. Trading Model:
On the basis of trading model, the financial trading platform can be divided into two categories- dealing desk platform and ECN platform. The trading model helps the traders to trade efficiently. The examples of dealing desk platforms are – ActTrader, MetaTrader, TradeStation and Currenex Classic platforms.
Investing in the financial trading market without a proper trading platform can ruin your trade. So, it is recommended to check the platform thoroughly that is offered by your broker to understand what type of trading platform is just perfect for you.
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