A forex trading platform is a software that connects the trader and the broker. It provides information like charts and quotes and is inclusive of an interface for entering those orders that the broker will execute. A trading platform can be based locally, which means that it can be installed on the trader’s computer or can be web-based.

Local platforms can run on Windows, Linux and Mac, whereas web-based platforms need Java. However, the advantage that the latter has over the former is that they can be accessed from any place where there is Internet connectivity…

All basic trading platforms are available without any cost but if the broker provides additional functions, then he will charge you a small fee.

Online Trading Platform

When you are trading online, you have to look for security. The trading platform will be conduit between the trader and the broker and thus should provide historical and real-time information to the investor. The investor should also be able to access all orders.

Sometimes, a third party trading software is also used, where the traders integrate 3rd party software into a platform like avafx trading.

Choosing the Best Trading Platform

When you are choosing the best trading platform, consider the following points.

Is The Trading Platform Free Of Charge And If There Is A Fee, What Are The Extra Features Available?

While some brokers provide a free platform to the traders, others charge a fee for providing additional features. Some brokers also provide demo platform that the trader can download. The demo platform provides practice to the traders, helping them to choose the platform easily after testing it.

What Order Interface And Order Types Are Available?

As you download various forex trading platforms, you will discover how easy or complex they are to use. You must check if the platform provides various order types and if it can handle complex orders. Remember that the Forex marker never sleeps. Therefore, the trading platform must allow you to capitalize any moves that any occur in the market when you are sleeping.

Does The Software Permit You To ‘Back test’ Strategies?

It is important that the software permits back testing of strategies. This will need access to historical data and therefore, you must check if the trading platform provides both.

In addition to the above three considerations, you must also check the following –

• What are the technical indicators that are available in charting component?
• Is the platform web based or local?
• Can you make trading using the charts?
• Does the software provide historical data?
• How does the graphical user interface look?
• Can it monitor multiple information?
• Does the trading platform have API for additional programming?

Make use of trading platforms to learn the art of forex trading. When you register with a trading platform, you get the chance to use all tools necessary for forex trading. You also get a free tutorial to help you with the trading. Remember that the platform is a vehicle for investment and treat it as such.

Author bio: Jane Raymond is a finance expert and is a regular contributor for the site, www.connection2forex.com. Read avafx review to learn more about this platform.