How To Choose The Right Trading Platform?

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What Is A Trading Platform? 

A trading platform is a trading system available online. It is software used to execute trades in a specific network. A trading platform is available for free or at a cost, depending on the online provider you choose. 

An online platform is excellent for managing funded accounts and performing trades. Traders receive access to different markets and assets. Online platforms are useful for trading stocks, mutual funds, and other assets. Quality trading platforms have security protocols and follow transparent information policies. 

What Are The Main Types Of Trading Platforms? 

There are two main types of online trading platforms: proprietary and commercial. A trading platform represents a network-based marketplace that offers powerful functionality. It helps traders place a trade, search for various financial instruments, and analyze market prices. Online platforms offer advanced features, including news feeds and advanced trading tools. Brokers offer advisory or brokerage services for particular assets.

A robust trading platform focuses on unique trading needs and trading experiences. For example, there are platforms for specific markets like the stock market or fiat currency. Stock trading platforms, day trading platforms, crypto trading platforms, forex trading platforms are popular choices.

Proprietary Trading Platforms

A proprietary trading platform is available with brokerage firms. It offers different features, including beginner and professional tools. Online brokers offer different trading account tiers with their proprietary platforms. We recommend you choose an online broker with an intuitive interface. 

Commercial Trading Platforms

A commercial trading platform is a great choice for retail and day traders. It is simple to use and offers useful services. This platform provides insights for experienced traders. We recommend commercial platforms for active trading. They come with different tools and advanced trading data. 

What Are The Most Important Criteria To Consider When Choosing a Trading Platform as a UAE Trader? 

When choosing a trading platform you should consider the following factors and criteria:

  • Fees:  The first thing to consider when choosing a platform are trading fees. If you are a day trader and want to make use of scalp trading, then you should allways look for a lower fee structure. If you are a high volume trader or institutional investor, you will need to think about making trader-off between choosing a higher fee structure with fewer trading tools.
  • Trading features: Choose a platform that offers trading features according to your knowledge level and trading style. As a beginner trader you will prefer easy buy and sell options over advanced order types, a demo account options and fast customer support. As a active trader you will appreciate level 2 quotes, market depth information and price levels etc.
  • Mobile Trading: If you are a multi-device trader and are looking to trade on the go, then look out for a grest mobile trading app. The mest mobile trading experience is provided by apps which miror the desktop trading experience and at lest offer full-screen charting options, social feeds and availability on Android and iOS.
  • Assets: Most trading platforms are designed for trading specific markets. You should choose a trading platform that specialises in the market you want to invest in.
  • Execution Speed: It is an important trading success factor especially for volatile markets. Day traders should be aware of how fast the trade execution happens and should not settle for anything over 100 milliseconds.
  • Providers: Trading platforms are provided by third party providers like the MetaTrader suite or are developed by brokers themselves and only available to their users (proprietary platforms). You should check if the broker of choice offers the desired platform features or integration of third party platforms.

All of the factors mentioned above have been considered in our selection process of the best online trading platforms for UAE users.

Top Trading Platforms For Different Markets

Most trading platforms are designed for specific markets and asset classes. There are different criteria to consider to choose the best platform based on the market you want to trade.

Best Trading Platforms for Stock Trading

When choosing a stock trading platform you should consider the following criteria:

  • Fees – Best stock brokers offer zero commission stock trades 
  • Assets – Numbers of stocks and stocks as CFDs available
  • Account minimums – Choose a stock broker with low account minimums
  • Trading accounts – Choose between an cash or margin account
  • Trading features – Look for features including research, customer support and news features.
  • Educational resources – Choose a platform that offer some hand holding and extensive educational resources on stock trading.

All of the listed criteria have been considered in our list of best stock brokers in UAE.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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