Where to start or which broker to switch to? Both beginner traders and experienced experts in their field ask themselves such questions. And not surprisingly, a lot will depend on the choice of a broker and its provided trading platform. It is possible that the trader will not make a profit using one of the terminals, but will become a profitable player on the other. There are various trading platforms in terms of quality and complexity, some very simple and understandable for beginners, while others may require specific knowledge and extensive experience to work with, although today brokers are trying to simplify the provided tools to the maximum.
What is a trading platform?
This is a software tool for performing various operations in the currency and securities markets. In fact, without a platform, it is impossible to enter the Forex markets. Different brokers provide different software for transactions, but in general, the principle of action is the same everywhere. Traders are provided with charts, various indicators, and sometimes news reports and trading tips. Asset forecasts may also be provided.
Types of platforms by market
Trading platforms come in two forms. Those that work with the Forex markets, and those that work with binary options. The second is the "trading binary platform." Forex markets are the most complex systems that require large investments and handling complex instruments, unlike binary options, where you only need to correctly predict the market behavior of various assets or currency pairs in a certain period.
The difference between Forex and binary options
The main difference is that the Forex markets require a more thorough study of the tools for operating and mastering most of the processes and assets that occur in the markets. It is very important not only to catch a change in the market, but also to take advantage of them in time. The process of entering the market, as a rule, is accompanied by the loss of part of the deposit due to the difference between the cost of buying and selling the asset, which can create additional difficulties in developing a trading strategy. Trading on Forex is fraught with great risk, to get good profit you often have to use borrowed funds provided by a broker. This is not a loan in the classical sense, but a quick loss of deposit is possible in case of unsuccessful use of the loan. This loan is called leverage and can have different meanings. For example, 1: 100, which means that you, having 1 dollar, will be able to operate with an amount of 100 dollars. These values may vary depending on the decisions of the trader.
As for binary options, everything is much simpler here. Depending on the type of option, the trader makes forecasting for certain assets, for example: the price of the euro / dollar pair will change upward relative to the current value after 60 seconds. Further, the trader pays, for example, $ 1 for the exercise of the option. If the price changes, in this case, up, then the trader will receive, for example, 80% from above the execution cost. It turns out that the profit will be 1 dollar 80 cents, which is very good for 60 seconds of waiting. If the price falls, the trader will not receive anything or will receive a certain percentage of the contract value. The amount of return will depend on the selected broker and the options set for trading options. All the values presented may be different, for example, the exercise time of an option, depending on the broker, can be 15 minutes, and an hour, or even 3 hours. As well as the cost of one transaction, it can be both $ 2 and $ 100. Also, trading can be carried out in another currency, rubles or euros, again, depending on the chosen service provider and the parameters you set.
Popular Forex platforms
The most common trading platforms for Forex trading are MetaTrader4 and MetaTrader5, but you can find many modifications, additions, various options in the form of advisers and robots for trading, as well as some other trading systems and terminals on the network. Transactions in these terminals can be made both with the help of a program installed on a personal computer, and on mobile devices under different operating systems. There are also trading platforms that work through web browsers. Some brokers have and provide their own best practices for trading.
Binary Options Platforms
In the field of binary options, there are many brokers who provide online trading services and, accordingly, have their own terminals. As in any field, not very high-quality programs are found in this, as well as the best trading platforms. Among them, just like on the "Forex", there are simple and understandable programs for beginners, and quite difficult, requiring training tools. More detailed can be considered individual trading platforms, reviews will be presented later on.
Olymp Trade - trading platform
This company is well established in the binary options market. Olympus Trade is a trading platform that has attractive instruments in service. This broker also provides free webinars, training materials and demo accounts. Not every trading platform has them. The option can be returned in case of default (50% of the transaction), there are also such useful functions as a candlestick chart, various assets, technical analysis. The yield in the case of the exercised option averages 80%, which is pretty good. As for the payment of real funds, the broker performs its obligations in accordance with the user agreement. Well suited for both beginners and experienced traders. Most players are especially pleased with the above possibility of a refund in case of non-exercise of the option. This can save a significant part of the funds in the event of an incorrect forecast of market behavior, for example, a sharp and long growth or fall in rates. This may be due not only to the technical aspects of market behavior, but also to fundamental reasons, such as positive or negative news reports.
Titantrade Trading Platform
Titantrade is a broker specializing in binary options. The company itself is registered in London and enjoys a diligent reputation. The trading terminal of this company has the ability to operate with many different assets, currency pairs and stocks. Contract execution has a different lifespan, there are minute options, and there are long-term ones. There are also a number of interesting tools, for example, the return of a part of funds in case of loss, the ability to copy your own transaction, and also the transfer of contract execution for ten minutes. Just like most brokers, there is the opportunity to play on a demo account, there are free online training seminars, various materials and videos that can help new players. Titantrade is a trading platform that will suit different categories of traders. Both beginners and experienced players in the markets will find positive aspects for themselves using the services of this company.
Iq option
Another high-quality binary options broker. In good faith and in good faith provides services related to option trading. Registered in 2011 in Cyprus. It has several different licenses of Russian and European regulators. The Iq Option terminal is made very high quality, the trader is provided with a nice-looking design, many indicators and tools for technical analysis, several types of charts for the user to choose. The minimum deposit is $ 10, the minimum contract value is a dollar. Like other brokers, this one gives the opportunity to play on a demo account, there is a function to return part of the funds in case of unsuccessful execution, but at the same time, part of the profitability is lost in case of a profitable transaction. Like other service providers, Iq Option provides a mobile terminal and access through a web browser.
Summary
The choice of a suitable binary options broker depends only on yourself, your preferences and requirements. The main thing is to choose the most suitable broker for you, based on the reviews on the network and the necessary conditions that you choose for yourself. Each of your brokers presented has its own advantages and disadvantages, they have different trading platforms. Some of the service providers have a high-quality design and simplicity, somewhere there will be a small minimum deposit, which is good for beginners, some of the brokers quickly process payments and withdrawals, somewhere you will be pleased with the large number of data, charts and tools with indicators .
Remember, trading binary options involves some risks, requires certain knowledge in the field of finance, as well as a lot of experience. Before you start trading on a real account, you should study in detail the materials that the broker provides you, as well as practice on demo accounts. Have a good trade!