An electronic trading platform, or an online trading platform, is essentially a computer software program designed to enable users to place trade orders for various financial products over an internet network with an intermediary, which could be a solo agent or a broking firm. Different types of financial products can be traded using such a platform, for instance, equity stocks, debt bonds, currencies, commodities, futures, options,and several others. These platforms allow users to carry out electronic trading remotely, eliminating the need to be present on the floor. When it comes to choosing the best trading platform to meet your trading requirements, there is a multitude of features to be considered. Depending on the trading style, volume and the product traded in, investors and traders may use very different trading platforms tailor-made for their requirements.
What do the Trading Platforms Provide?
If you’re new to trading, there are several online courses and resources that provide an in-depth understanding and knowledge of trading and stock markets. They give extensive knowledge about market terms and terminologies, theoretical techniques for trend identification, and even teach you how to build your own trading system. Additionally, firms that provide the best trading platform often provide brokering services in the form of professional advisors specially trained to aid traders and users of the platform in a variety of areas ranging from advice as to where to invest and when to invest, to how to operate the platform to best use it for their needs.
Finally, trading platforms may also have specific requirements and/or fees in order for users to use them. For example, a lot of day trading platforms require that traders have a certain minimum volume of assets in equity in their dematerialized (trading) accounts and have permission for margin trading in order to avail their services. Platforms that provide option trading services may require approvals from the concerned official authority on trading in the country, to trade in the various types of options available, before users are allowed to use the trading platform.