The Truth About Trading Platforms & How To Trade Like A Professional
Trading Platforms Explained
For the average investor, in order to get involved in almost any kind of investment transaction, you must utilize a trading platform. A trading platform is the software that enables investors and traders alike to place trades and monitor their accounts through financial intermediaries. This software often provides its user other useful information such as charting tools, real-time quotes, news, and sometimes premium research.
Most trading platforms specialize in a particular kind of financial instrument such as stocks, bonds, commodities, or cryptocurrencies, however, some are nearly all inclusive. Choosing the right platform depends firstly on what kind of instrument the investor is interested in as well as the additional services the platform offers.
It is also important to pay attention to the fees that each platform charges as they can vary wildly from platform to platform. Most reputable platforms also have minimum investment requirements and advanced security features which include extensive KYC (know your customer) details which are used to monitor transactions and prevent illegal activity.
How To Trade Like a Professional
In order to maximize your earnings and trade like a professional, it is crucial to understand the details of each platform and just how they can effect your investments. Some important questions to ask are:
- What are the fees associated with each transaction?
- How can I withdraw my funds off of the trading platform?
- How long does the platform hold my investment before I can withdraw?
- How does the platform secure my account and investments?
- How is the user interface, what is the purpose of each button or command and where can I go to learn about how each platform operates?
- How does the platform make money? Are they trading against its users or using some other method like charging fees on users transactions?
- How much money does this exchange trade on the average day, month or year?
- How long has the platform been in business and are they reputable?
- What are other users saying about their service?
- How responsive and helpful is customer support if I experience a problem I need help with?
- What can I do if I suspect the platform is operating illegally or has taken my funds improperly?
If you want to trade like a professional and be successful, it all starts with the proper education. Knowing when to enter and exit a market depends on knowledge of micro and macro trends in both the economy at large and the specific instruments you wish to trade.
If you simply invest into something just because someone told you to, you are doing nothing more than glorified gambling and will have trouble being successful unless you are lucky or getting advice from a seasoned professional with years of experience. As with anything, it is important to do your own research and come to your own conclusions based upon material facts and your own intuition.
This page and the articles below will seek to help you become familiar with various trading platforms that specialize in particular niches of the vast financial market. We will only be recommending platforms that we have used to trade on ourselves or which appear to have everything we want and recommend in a trading platform.
From precious metals to cryptocurrencies or stocks and indices, there are many platforms that specialize in making transactions easy and secure for both advanced and new traders. Click below to learn more details about each of the various platforms and why you should be using them to trade your favorite financial instruments. Also, read our other articles and subscribe to our email list to learn more about the best new trading platforms and all things finance.