A forex trading platform is a program that facilities the transfer of trading information between the broker and the trader. A trading platform offers information like quotes and charts. In addition, a trading platform allows you to enter orders which are then executed by your broker. The software for the trading platform can be based locally which means it is installed onto your computer. In order to use a locally based software program you will need to choose a broker that offers a downloadable software platform that is compatible with your operating system (Windows, Mac, Linux, etc). There are also web-based online trading software platforms available. These platforms operate with Java and can be accessed directly on your browser with no download required. These platforms are generally available for free but you may be able to purchase a version of the platform that offers increased functionality. Some brokers may offer overseas FX trading platforms with a number of different levels of functionality depending on the activity of the trader.
Online Currency Trading
When you trade currency online, you will want to have the same level of security you get from other financial transactions that you perform online. The online trading platform is the communication platform between you and you broker so it must be reliable. Most platforms also offer historical data and real-time data so you can see what is happening in the market. This will help you make the best possible trading decisions and will help you trade more efficiently. In many cases, a 3rd party currency trading platform can be integrated as many brokers have an API on their trading platforms.
Factors to Consider When Choosing a Trading Software Platform