Friday, February 22, 2008
Forex Trading Platform - How to Choose The Best Platform & Broker
I bet you can’t tell me… How to choose a good forex trading platform?
Choosing a forex trading platform can be very hard if you dont know what to look for.
In this article you will learn the most important things that a good forex trading platform should have.
Hopefully after reading this article you will have everything you need to choose a good forex broker & platform.
Tip #1 Real Time Quotes
This is extremely important. Forex trading is done 24 hours a day and you want to have live quotes. With live quotes you can be in full control of your funds and check them whenever you want.
Make sure to check if the broker platform offer live quotes 24 hours a day. This is really important i cannot stress this enough.
Make sure to check so the broker don't slow the execution of the orders. This way you will enter a market at a different time than you wanted.
So make sure that the broker don't slow the execution orders.
Tip #2 Easy to Use
The software you use should be easy to understand. You should be able to start trading immediately. Skip systems that take weeks to learn. They should be easy to use, that's it.
You should also try to pick a software that doesn’t need any download, that you can access from every computer.
You could choose to download a software but make sure that it got live quotes.
Tip #3 Support
This is very important. Your broker shall provide 24 hours support no question about it. The forex market never rests and if you need assistance you should get it fast.
A good tip is to contact their support about any questions you have before you buy their services.
Tip #4 Trading Rates
Be sure to check if the software allows a freeze option when you decide to buy or sell. This way you get the rate you freeze and not the actual rate that occurs when the buy or sell is processed seconds later.
Tip #5 Spreads
The spread is different from broker to broker. Make sure to check which spread the broker have. If they have larger spreads then the market have to move in your favor more than it would have if the spread was smaller.
It can be harder to make a profit if the spread is larger so try picking a software that have a small spread.
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If you follow these tips when choosing a trading platform you will get a great platform. Make sure you can trade at live quotes because this is most important.
Now go ahead and choose a trading platform that suites you.
Keep in mind that the expensive forex trading platforms doesn’t always need to be best.
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You know, my mom learned how to start trading forex from this site... You can do the same as well. Click the link Forex Trading Platform
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(c) Copyright 2007 David Sodergren
Article Source: http://EzineArticles.com/?expert=David_Sodergren
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