Trading Platforms – Choosing the Best Option for Success

Richard Parker  |

Trading is seen by millions of people as a means of securing a healthy financial profit. An average 1.11 million trades took place on the London Stock Exchange alone, between January 2015 and October 2018.However, trading is not without risk. Whether you decide to begin trading in stocks, commodities or FOREX, you need to ensure that you have the best knowledge and tools in place to limit your risk and maximise your profits.

One of the most important tools to secure is a reliable trading platform that is suited to your trading requirements. A trading platform includes all the software you need to develop and execute a successful trading portfolio. When examining the best trading platforms in the UK, to find the best solution for you, there are several factors that should be taken into consideration.

Cost of the trading platform

Many trading platform providers offer a facility which includes free features such as:

  • Trading charts.
  • Help for new traders.
  • Webinars.
  • Informational blogs including the latest trading news.
  • Trading jargon busters.

Inexperienced traders may find that basic levels of functionality, and access to free trading education and advice, is the best optionfor them. If you have a higher level of experience, take into account the variety and quality of services provided, including bespoke trading solutions. Weigh the services provided against the cost incurred, to ensure that you get the best value for your investment.

Personal research not following the crowd

Remember that a platform which is well suited to one trader may not necessarily be the perfect choice for others. You need to do your own research when you are looking for the best UK trading platform. Do not simply act on the advice of other traders.

  • Speak to your broker. Ask them for their opinions. Remember that some trading platforms are not available to be used by all brokers.
  • Check out different platform interfaces. You need to make sure that you will be comfortable using the platform every day. The features of the interface should be easy to use.
  • Make sure that you have the features that you need and that your experience is not cluttered with unnecessary additions. Some solutions may have functionality that you do not need if you are just starting out.Remember, that you can upgrade whenever you need to.
  • Check that the software runs smoothly, with no annoying, and potentially costly, glitches.

You are the one who is going to be using the trading platform that you choose. Make sure that your selectionis based on personal research and choice and that you are not simply following others.

Mobile apps or web trading platforms?

Web based trading platforms give you the opportunity to view your accounts in detail, and access thousands of different markets. They are ideal for use at home or in the office. If you want to have complete flexibility as you trade, it’s a good idea to choose a solution that also provides you with a simple to use mobile trading app.

A high quality trading app provides you with a full range of trading functionality. You can check your accounts and the markets, as well as making trades while you are on the move.

It’s possible to make significant profits from trading, but it takes time to develop strategies that work. Success should be considered a long-term aim. In order to achieve this aim, you need to have right tools in place. This includes choosing a trading platform that is best placed to support successful trading, considering your level of experience and your portfolio.

DISCLOSURE: N/A


The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

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