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, and 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? 

You should choose a trading platform that suits your trading needs. It is best to consider both features and trading costs. Online platforms have a transparent fee structure. Others may charge hidden fees. The best trading platforms have top-tier licenses, impressive past performance, and follow strict rules. 

Remember that online platforms may have a specific eligibility requirement. For example, a day trading platform requires traders to have a minimum of $25,000 in equity in their accounts. Stock trading platforms have a lower minimum requirement. Read our in-depth platform reviews for details on choosing a trading platform in 2022. 

Which Are The Top Trading Platforms In 2022? 

Some of the top trading platforms in 2022 are Robinhood, eToro, Interactive Brokers, TD Ameritrade, and TradeStation. You can see our full list of best trading platforms and apps for UAE here.

You should choose a platform based on your experience and location. The best online trading platforms for 2022 are: 

  • Robinhood: Robinhood is a popular online broker with a trustworthy mobile app. It is a top choice for millennials and active traders who prioritize low trading fees. Robinhood is a brokerage service only available in the USA. 
  • eToro: eToro is a top social trading broker with excellent proprietary platforms and trading ideas. It offers a versatile portfolio and valuable learning tools. Its stock trading platforms and crypto trading services are attractive. eToro is a top choice for traders at all levels looking for competitive fees and minimum deposit.  
  • Interactive Brokers:  Interactive Brokers offers a professional stock trading platform for advanced traders. It provides access to helpful market and research data. It offers one of the best day trading platform in 2022. This broker provides competitive services with a high minimum deposit.
  • TD Ameritrade:  TD Ameritrade is a popular choice for traders at all levels. It offers both beginner and advanced tools. This broker has two trading platforms, Trade Architect and thinkorswim. These are popular choices for stock and ETF trades.
  • TradeStation:  TradeStation is a top online trading platform with reliable trading algorithms. It is a top choice for traders looking for a reliable automated trading bot and mobile app.
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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.