Finding The Right Trading Platform

If you are new to Forex trading, then finding the right platform to trade with can be rather daunting. There are so many companies out there that merely aim to make a quick buck off their clients and could not care less about providing them with a quality product. From speaking with many experienced online traders, it is abundantly clear that they look for several different attributes when searching for a platform. These attributes are:

1. Single-Interface Platform: Users want to be able to see several windows in one screen. They need to see the quotes, their portfolio, the trading window, streaming news and the charts all at the same time. This eliminates clicking back and forth and potentially losing thousands of dollars. Every second counts in the Forex market and having a single interface makes things much easier for users. Some companies provide inferior platforms where the user must click back and forth in order to place trades and close out positions. This can be increadibly risky in a volatile market.

2. Web-Based: No Downloads or installations allows the user to access from multiple trading sources around the globe on any computer, PDA & mobile devices. This eliminates the need of constant upgrades as software downloads can be time consuming and inconvenient and more open to potential computer viruses. So the next time you are sailing on your yacht, in an internet cafe or at a friend's house, all you have to do is log in and no downloads are required.

3. Customer Service: It is one thing to offer a flashy high-tech platform, but this is not the be all and end all. It is the clients that keep the Forex companies in business, thus it is the companies that should treat their customers with the utmost of respect. This includes assisting them 24/7. From speaking to traders, it is clear that they do not want to be treated like "just another client". They want to have someone within the company who can help guide them through the platform and give them general advice about trading and the Forex market in general. VIP clients especially, want to be kept updated about daily movements in the market.

4. Tight Spreads: Customers all look for the most competitive spreads. This is not necessarily the most important factor in selecting a firm to trade with, however it is still important. Spreads of between 3-4 pips on the major currencies are reasonable.

5. Guaranteed Stop-Losses: Not many firms offer this, but this can potentially save you thousands of dollars. Some firms tend to mislead clients and claim their stop-loss will be implemented at "X" rate. However, if it does not hit this rate and skips it, then the client may be out a few pips, which could cost them. Finding a firm that guarantees the selected rate/amount is essential when selecting a platform to trade with.

6. Online Instant Credit Card Deposit: Many firms take hours or days to allow funds to be deposited into your account. Online instant credit card deposit allows you to start trading within minutes!


ForexCT offers all of the above. We aim to provide all our customers - from the smallest traders to the institutions - a quality product and high-end service. To find out more about what we have to offer simply click here.