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How to Select a Trading Platform?

Trading Platform
Trading Platform

There are many improvements and innovations that have been done in the financial industry. Many changes that took place in the industry actually brought a drastic boom in the transactions and the way to deal with them. The use of algorithms and other technologies made the financial industry more competent.

The technology that changed the financial industry a lot is trading platform. Trading platform is a type of software that helps in the trading journey of the investors and makes it even more convenient and profit making. There is best online trading platform in India and many companies are competing for being the best. Trading platform selection is the core step for investors as it can lead to either increase in cost or increase in profits. But to select a particular online platform the following features should be kept in mind before selecting the ideal online trading platform:

  • Specific needs: Specific needs refer to the needs of investor and his trading strategies. How an investor wants to implement his/ her trade? Whether he/ she wants to make an option trading strategy or simply buying and selling of stocks. Also whether intraday transaction can be executed by the investor or not.
  • Brokerage: The brokerage that the trading platform charges is also an important factor in determining the selection of trading platform. No matter how much efficient the platform is, it will not be useful for investors to use that platform if it charges more brokerage.
  • The interface: The interface that is provided by online platform is also a considerable factor and can effects the decision for selecting a particular platform. Not every investor is a professional or technical expert, but he/ she must understand how to use these platforms easily. If there are too much technicalities involved in the platform interface then it might not be feasible for layman to place his/ her trade.
  • Technical efficiency: Technical efficiency of the online platform is decided by the latency. Latency is the difference between the price at which the trade is actually executed and the price at which investor placed a bid. So technical efficiency is high when latency is low. This has helped a lot of investor in being one sided regarding the trading platform.
  • Technical tools: There are many other technical tools that might be helpful to the investors at large. The tools include charts and graphs that help in analyzing the performance of the portfolio. This is another advantage for the platform and it can help attracting investors.
  • Arbitrage recognition: Arbitrage is a trading opportunity that involves no net investment of money and is free of risk. This situation occurs when a stock has different prices in the two markets. So investor can buy low and sell at high price. A good platform will always be able to recognize the arbitrage opportunity and will help people in taking the advantage of that.

Many stock brokers are present in the market but there must be a decent knowledge of the trading platform so that you can make a wide choice. So decide what matters to you and then execute your strategy.

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