The trading platform is a term one needs to be familiar with if you are planning on or are already a part of an online trading industry.
It refers to a software through which all the participants in the trading process can manage their trading positions and contracts. The platforms are what traders are being offered by brokers and commonly are completely free or very discounted in return for an account that is regularly funded, or some other requirement.
Let’s see what are some of the most recognized types and brand of trading platforms and what each of them offers for binary options, forex or CFDs traders.
MetaTrader 4 is an online trading platform that offers a complete analysis of financial markets by using, what they call, Expert Advisors. It also allows traders to implement their own custom strategies in order to provide an enhanced trading experience.
This is obviously a very important factor for a trading platform, and it is no surprise that MetaTrader 4 is one of the most used and most popular platforms for online trading. Traders are being provided with multiple essential tools for online trading, such as a stop order, trailing stop, tick chart and trading history. As we could see, MetaTrader 4 has 2 market orders,
4 pending orders, 3 execution modes, 2 stop orders and a trailing stop.
The most interesting part of this sophisticated trading platform is that by implementing your strategies the platform can do all the work for you. The trading robot seems to be able to free you from the dreary market analysis.
SpotOption is another interesting and highly popular trading platform. The company was founded in 2010 and over the time has become one of the leading providers of solutions aimed at brokerages. What SpotOption seems to market is their ability to completely automatize sales, marketing, and retention activity through one product.
This company employs over 150 people which are all top developers and designers with offices all over the world. All of this can attest to the progress this platform has brought to the company after it was discovered and accepted by the brokers who use it for their clients.
SpotOption seems to have a lot of pride invested in the fact that they offer unique features that introduce a dynamic element to the trading story. This multi-platform product is probably one of the most used platforms globally.
Scipio is a trading platform that probably needs no introduction. It offers a lot of trading options and tools that come in a very effective and intuitive package that is finished off by a streamlined interface designed with traders in mind.
The reason this trading platform seems to be loved by many in the trading world maybe has something to do with the fact that it offers full trading history including your positions, charts, and analytical tools in a single trading interface.
As a finishing touch, Scipio has added a significantly powerful back office designed in order to be very user-friendly and intuitive which is not something traders are used to seeing. This is their biggest selling point and they know it.
Last but not least, proprietary platforms should definitely not be expelled from this list. This is obviously not a single, brand platform but a common name for a platform made by the brokerage companies themselves. Why you ask? Well, these types of the platform have something that other more market efficient platforms don’t and that is exclusivity.
Proprietary platforms are made for specific traders in mind, and who know their clients best than those companies that do business with them. This is why the custom built platforms are sometimes the best move brokers can make. It just depends whether the platform has all the other factors that make it great.