When starting to trade, one of the most important questions is usually: how to choose a trading platform? In this article, we will explain in this article what is important in choosing a broker.
How to choose a trading platform
When it’s time to start trading and you are asking yourself “how to choose a trading platform?” you have to care about a few things:
- Demo account
- Platform usability
The most important aspect of a trading platform is its regulation. to trade with a safe broker, he must have at least one regulation. The most important one is the Cysec regulation which is also the most common one that every broker has. On top of that, there can be the FCA regulation for the UK, or the Consob in Italy and so on.
Trading with a regulated broker is very important for every trader.
When a new trader is beginning his new adventure, the best way to do it it’s to use a demo account. A demo trading account is very useful for every newbie to test the platform, test his strategies and if trading is really something he can do.
Every broker offers a demo account with at least $ 10.000 which can be used till the end of it.
Opening a demo account is free and its usability is unlimited.
For usability, we mean the fact to use the trading platform every time is necessary and from everywhere. Every trading platform now offers a web version, a desktop version, and a mobile version. Most of them have also their own mobile App.
Some brokers offer an mt4 or mt5 platform, some others have their own trading platform. In this case, it depends on the trader if he prefers to use one or the other.
After this article, if you want to start trading, it’s very important to analyze each of those aspects of a trading platform and start trading with the one more suitable for you.