Aside from the popular MetaTrader 4, lots of forex brokers have their own trading platform application. Some of them also have their own web-based and mobile-based trading platforms. While all of them pretty much offer the same service, there are essential features and less-important features you need to recognize.
Here is what you will need:
– Charting feature
Yes, virtually all trading platforms own it, yet a number of platforms merely have standard charting feature while others have all the advanced functions. Usually, a web-based platform minimizes this feature so they could give faster access to their platform. Even so, I've come across some application-based platform with poor charting feature too.
Depend upon your strategies, you might be able to live with only basic charting or you absolutely need all that complex analysis tools and indicators. A handful of platforms also allow you to trade straight from the charts. When you already accustomed to this, it is fairly hard to change the habit and search for another button to make a trade.
– Support different worksheet
While working with different currency pairs, you might need different information available and possibly more comfortable with a particular layout. By saving this specific preference, you could open and close different worksheet quickly or even having a few worksheets active at the same time.