- Broker and trading platform are not the same
We often have a capital problem that some brokers seem to ignore: we did not find information about the trading platform offered by the broker in question anywhere!
How is this possible? As it turns out that broker and trading platform are not the same: while the former is the intermediary arranged directly between us and the stock market; the trading platform is the working tool through which we will operate, negotiate and issue orders. What does this mean? The broker will offer us a service while the platform will allow us to execute our strategy.
Therefore, if we do not have the appropriate means to invest, our investments can end badly.Two types of brokers: with or without own platform
2. Two types of brokers: with or without own platform
When it comes to hiring an online broker we are going to run into two possibilities:
- Brokers who have developed their own trading platform.
- Brokers that use a multibroker platform (also available to other providers).
Although there are very powerful tools developed in house by some brokers, keep in mind that a multibroker platform can open many doors to you when changing and negotiating with other suppliers.
Learning the operation of a platform is not an easy task, therefore, it is less advisable to hang on a platform that you can only use with a specific broker. As a rule, all brokers offer a platform (either proprietary or not) for free for their customers.
3. Looking for the best trading platform
- Offer the stock instruments with which you want to invest.
- Have the functionalities you want to work with:
- A social trading platform is useless if you are not interested in following or sharing your trades. This will depend on your strategy and how confident you are with one or other of the functions: analysis indicators, real time, order types, graphs, automatic trading system, etc.
- Platform is friendly and simple to use:
- In an ideal paradigm, the best platform is the one that offers the most complete and easy usability for the user.
- Make it fast.
- That offers software compatible with our operating system:
- If we do not want to be using patches all the time, the better the software is compatible with our computer. Interesting are also the mobile version and online (called webtrader), so that we can operate anywhere in the world with any support without needing to download the program (tablets, mobile, other pcs).
- Access to the tool code:
- Some platforms like Metatrader 4 allow to modify the programming codes to create indicators or own scripts among others.
4 and 5. The best multibroker trading platforms ( Metatrader )
We started the list with the trading platform par excellence Metatrader 4 (and currently its update 5). Created initially for Forex in 2005 by the company MetaQuotes, today it has been adapted for trading with more instruments.
- Free trading platform.
- Analyze the market and execute orders (snapshots or pending).
- Customize the graphics and create your own scripts and indicators thanks to its open code, among others.
- You have an internal mail to contact your broker as well as a help system.
- You can have two real counts and as many demos as you want (with pretend money).
- More than 90 indicators.
- Automatic trading system.
- New webtrader format so you do not have to download the software.
- Ability to download the data history.
Ninjatrader
It is a platform whose operation is more focused on execution than on analysis. Ninjatrader is part of the NinjaTrader Group, LLC group, founded in 2003 and currently has more than 40,000 represented through more than 150 brokers around the world.
- Payment trading platform (demo with limited options).
- Operational especially for trading with futures, but also allows shares, forex and CFDs.
- Analyze the market and execute orders directly from the charts.
- Extensive customization of its graphical interface.
- Ability to download the data history.
- Real Time and Strategy Backtesting.
Visual Chart
Visual Chart is a multitasking platform specially designed for technical, graphic and fundamental analysis. Part of the Visual Chart Group, S.L. which was born in Almería in 1998 to expand to other countries like Germany and the United States.
- Advanced charts, custom tables, depth charts, financial news, etc.
- Operational especially for the trading of stocks and futures.
- Execution of orders directly from the charts.
- More than 200 indicators.
- Extensive customization of its graphical interface.
- Ability to download the data history.
- Real Time and Strategy Backtesting.
- Automatic trading system.
- Direct broker access and data history of more than 20 years for backtesting.
Pro Real Time
Pro Real Time is a platform that, like Visual Chart, focuses more on analysis than on execution. Pro Real Time is owned by the French company IT-Finance, which has more than 10 years of experience, 500,000 users worldwide and more than 300 servers managed in different data centers.
- Free tool (although you pay for the data in real time-> you can try to be version for a week without costs).
- Operational especially for the trading of stocks, futures, forex, indices, cfds, commodities, obligations and options.
- Powerful graphics and easy interface.
- More than 100 indicators.
- Possibility to download data history up to 16 years for backtesting.
- Automatic trading system.
- Lightweight version for smartphones
- Customize the platform: fonts and colors, graphics, create custom lists, est.
- Help and support service as well as access to the trading community.
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