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Currency trading platform is an essential tool that all traders must master. The main reason for that is because the platform is your only tool to interact with the market. That is why you have to know your platform well and recognize the one that is suitable for your personal circumtances. Currently, there are a few types of trading platform that you can get from a forex broker: 1. Application at Your Desktop Computer The most typical type of forex trading platform is a free application that you could download and install at your home computer. The famous MT4 (MetaTrader4) is also one of them. Commonly, this sort of trading platform offer quite sophisticated features and you can use it for multiple purposes. Sometimes, a broker can supply several application based trading platforms that you could choose. Using this type of trading platform, at least you will get real time prices and basic charting feature that can be used for typical market analysis. Additionally it is the most convenient trading platform. I highly suggest MT4 as the most recommended trading platform with a lot of advanced features. Almost all of the forex robots (expert advisors) also designed to operate on MetaTrader4. 2. Web Based Trading Platform Web based trading platform provide quite similar features with the application type, but with fewer capabilities and could not support expert advisor. It is just like a regular membership type, so in order to access it, you have to go to the website and type in your login details. A good example for this would be trading platform from Xforex. The advantage of this type is you can access it anywhere worldwide provided that you have a PC and internet connection. Remember that you don’t need to install anything for it to works. If you travelling often, can’t bring your notebook, or visiting locations without wireless internet connection on a regular basis, usually internet shop is your sole option. When it does, web based trading platform can really come in handy. Even so, keep in mind that utilizing shared computer in an internet shop could make you vulnerable to account hacking. So before you leave the computer, make sure you at least clear your browsing data and erase your cookies. 3. Mobile Phone or Smart Phone Trading Platform This is an application that you could download and install in your mobile phone or smartphone. If you are go out often but still within the coverage area of wireless internet connection, this option is more safe than web based trading platform. There are some broker that offer several trading platforms for their clients convenience; use it to your advantage and take the one that suits you. My suggestion is you must master at least one application based trading platform since it is the most stable one and can provide you with many features. Moreover, if you spend a lot of time away from your PC, stay away from web based trading platform and use mobile trading platform instead. By knowing and getting used to the right trading platform that can fulfill your need, you can get rid of unecessary risk and trade more safely. Have a look at training course for forex trading and sign up for step by step lessons on using MT4 trading platform. Additionally, I suggest you check Trader Outlook review and learn how forex trading works from the acknowledged pro in this field.
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currency trading platform, forex trading, finance,
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