This article will detail the plethora of online trading platforms that are out there and some of the potential uses that end users and consumers can get out of them. The reader will have a better understanding of how to best utilize online trading platforms after reading this article.
To a new investor or trader, the great number of online trading platforms and their uses can be very intimidating. There are dozens of companies that offer their services, each one claiming to have better trade execution times or a better features package than the rest of the field. Meanwhile, a number of firms have come out with web trading that they claim are equal to proprietary trading and more convenient at the same time. Try not to believe all of the marketing hype though, the majority of online trading platforms are sufficient for the vast majority of investors.
Here are some of the potential uses you may find for an OT platform:
Up to the second news feeds and investor information resources. This is perhaps the greatest advantage to using an OT platform as opposed to a web trade platform. Because the larger brokers can afford to make deals with the larger business news firms, OT platforms have access to better news feeds than the average investor has access to Trading platform
. Through web news portals you can find articles penned by the major investor news bureaus, but you will not be able to find, for example, analyst reports, special ratings upgrades or downgrades, and business-level news. By using a broker with a good online trading platform, you will have access to the same news sources that the hedge funds and large fund managers have access to.
Quicker trade execution time. Many people do not think of this when they are considering OT platforms and their uses, but by far one of the most important aspects of using an OT platform is the difference in trade execution time. When you use a web trading platform as opposed to specialized software, your trades tend to take a few seconds longer or you may have to click through a few more screens. Savvy investors know that as little as a few seconds can be the difference between a large profit and a catastrophic loss.
More stability. In the race to improve OT platforms and their uses, the large trading firms have greatly increased the stability of their platforms. Most online trading platforms today have a better than 99. 9% uptime regardless of your computer's intrinsic stability. Compare this to web browsers which are prone to crashing, lag, and slowdowns, and you will see that it's important to have a good online trading platform.
Charting tools. Modern online trading platforms allow you to modify and create investment charts on the fly. This is a relatively unheard of feature for individual and non-professional investors, but online trading platforms have been including these tools more and more often as of late.
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