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Characteristics of a Good Trading Platform

I have certainly traded on a variety of trading platforms throughout my career. Some platforms have been a joy and great pleasure to work with, and other platforms made me want to set myself on fire. The variety and quality of trading platforms available to traders range from horrible platforms to excellent platforms.

Of course, the effectiveness of any platform is directly related to the quality of the data feed. For this article, we will assume that all platforms have a suitable data source and will simply remove that variable from the discussion. If you are looking for the best forex broker in Kenya, then you can search over the internet.

1. A good platform has a set of quality graphics tools at its disposal.

When trading active charts, it is essential to be able to draw trend lines, Fibonacci retracements, pivot points, and a host of other tools that traders other than me may find necessary. You should not have a degree in physics to make it easier to draw these symbols.

The procedure for entering trend lines and other symbols should be done effortlessly and without much thought. After all, your main focus in trading is the price action on the chart, not knowing how to draw lines on your chart.

2. A good platform should be easy to read and interpret.

A good platform should be easy to read and configure. You shouldn't have to read a 200-page manual to operate the software. The table must be clear and easy to understand and the index reads must be legible and prominent. Platforms that are difficult to set up or require daily maintenance to set up waste valuable trading time and ultimately cost the trader money.

A quality program will also save your settings from the previous day and when you start the program the next day the exact settings should appear, you shouldn't need to add your oscillators and indicators daily.