There are many financial trading and marketwatch platform products out there today. But what should you look for in deciding what to use? If you are a broker, how can you give your customer trust in your company and platform?
The Trading Platform
A trading platform is a piece of software that acts as a conduit for information between a trader and a broker. It provides information such as quotes, charts, real-time research information and includes an interface for entering orders to be executed by the broker.
This software can be installed on the trader’s computer or web based. Locally installed software often offers advanced features, while web based software offers flexibility in devices. Trading platforms are often made available by brokers to their customers free-of-charge, but some brokers allow traders to purchase higher functionality for a fee.
What to look for in a good trading platform
Your broker is just as important as your trading platform. Ensure that you broker offers reasonable fees and follows regulated rules that will keep your money safe.
Your money and transactions are important. Brokers and clients should ensure that trading software works flawlessly, without bugs or hang ups. Trading can be a 24 hour business. Ensure that systems will stay up and monitor markets continuously. Platform should be efficient, fast, and updates in real-time.
Security and safety of the customer should be a top priority. Systems should use encryption technologies and ensure that customer information and money is safe during all transactions. Brokers should follow best security practices and guide customers on keeping their accounts secure.
An optimal platform should offer single click trading that can execute orders at the fastest rate possible to take advantage of any price changes. There should be no slowness especially in this function.
Find or provide a trading platform that is flexible to various trading styles, offering built in alert systems, level 2, and advanced research tools that help traders make quick decisions.
The sensitivity and security required for trading platforms requires a dependable developer and quality partnerships with market systems. Look for an experienced developer that is up to date on technology, great references, and in depth knowledge of financial markets. TechFinancials API Solutions offers an online trading platform and API Integration, which can help provide some of, if not all the functionality mentioned above.
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