Five Characteristics that make a good trading platform

I have traded on many different trading platforms during my career. Some platforms have been a pleasure and a great place to work. Others made it difficult for me to sleep at night. There are many trading platforms out there, and the quality can vary from terrible platforms to great ones. You can see login olymptrade for more information.

If you need to communicate, I would just list the high-quality platforms and the ones that are not. Unfortunately, I would end up with a mountain of cease and desists and lawsuits if that was my approach. I have selected some key characteristics of great platforms and listed the reasons I believe they are especially effective.

The quality of the datafeed is crucial to any platform’s success. In this article we assume all platforms have a good data feed. We can then remove that variable from the discussion.

1. A good platform should have a high-quality set of charting and other tools.

Trading and active chart requires the ability to draw trend lines, Fibonacci-retracements, pivots, and any other tools traders might need. Drawing these symbols does not require a degree of physics. It should not take much time to enter trend lines and other symbols. You should remember that trading is about price action, and not drawing lines on charts.

2. Good platform design should be easy to use and understand.

A platform that is good should be easy to use and read. It should not take you 200 pages to learn how to use the software. The chart should not be difficult to read, and the index readings should always be easily visible. Platforms that require tedious or daily maintenance are costly and can be difficult to setup. Quality programs will save your settings. When you start the program on the next day, the exact settings should be displayed. You don’t have to add your oscillators or indicators daily.