What trading platform is suitable for beginners traders?
Category : Robots
If earlier all exchange transactions were carried out through the exchange tape or landline telephones, today, to work in the financial market, it is enough to have a computer with Internet access, as well as a trading account in afix apiforex brokerage company. The development of the computer systems allows you to conduct analysis of the financial assets movement from your house and to make trading transactions. But to do this, the trader will need at least a trading terminal.
The trading terminal is a platform, on which the quotes of financial instruments are displayed and by means of which the deals are actually concluded. The terminal has a huge functionality, which includes:
- Ability for graphical analysis;
- Possibility of technical analysis;
- Connections to various trading accounts;
- Use of trading robots in fix api trading;
- Building your own trading algorithms.
This is not a complete list. The set of these instruments depends first of all on the type of trading terminals, which today are multiple.
That is why, there is a need to choose the most optimal software in the form of a terminal, to start trading in the early stages of exchange activities. Most platforms are complex to use, and they simply are not intended for fix apiforex trading. Therefore, I will highlight two key terminals, namely MT4, as well as cTrader, with which the newcomer can easily cope in the financial market.
Fix api MT4 trading terminal is the undisputed leader among the programs for trading in the forex market. The thing is that this terminal was developed more than 15 years ago and is free software for traders. However, this is not the only merit of the MT4.
This program has a huge functionality for trading process analyzation and automation.
- MT4 has the ability to launch the environment development. Including MQL Editor, you get to the compiler with which you can create your own technical indicators, trading robots, and other elements.
- Algorithmic trading. Undoubtedly, if there is an environment development for this, then the very use of automatic strategies becomes many times simpler. The platform is adaptable for robots. All that afix api traderneeds is to place the software directly in the folder with MT4.
- Access from one platform to any other accounts in different brokerage companies. If you have a trading account with another broker, where the MT4 terminal is also used, then you can log in directly with only one software.
- A complete set of necessary graphic and technical elements. For the beginner, the tools that are in the terminal will be more than enough.
- The possibility of trading through fix api. MT4 can be put to work through a financial protocol, which will allow you to trade under more favorable trading conditions.
This trading terminal is a novelty in the market, but has already attracted a lot of traders. It’s all about its key advantage over the fix api MT4 – a glass of prices that allows you to explore the full market depth. A glass of prices allows you to see current players in the market and analyze the market sentiment, which allows you to adapt your forecasts to this information. But at the same time, not many companies give an opportunity to trade on this terminal. This is only an advantage. cTrader does not have its own environment development and a possibility of algorithmic trading. In the terminal new versions, cAlgo is implemented (for more information on this software, see https://www.spotware.com/products/client-side-applications/calgo), which conducts automaticalfix api trading. However, given the complexity of auxiliary software developing, it is much more difficult to find or develop ready solution than for MT4. In other elements of analysis and functional,cTrader is in no way inferior to MT4.
Choosing the most optimal platform for transactions, analyze which of the two tools you can trade with on your broker’s platform. I also emphasize that if you cannottake your choice or you already have one of the two terminals listed above, then there are special programs (connectors) that are designed to work simultaneously on two terminals. So this connector -http://www.forexzzz.com/product/ctrader-connector-via-fix-api/, allows trading in cTrader accounts in MT4 terminal.
I recommend you to choose a trading terminal based on the working conditions of your trading strategy. This will make it clear what tools are needed for analysis, which will allow us to analyze where it is better.