How to determine whether the platform is safe and reliable?

How to determine whether the platform is safe and reliable?

At the end of last week, many fans asked me how to identify the foreign exchange platform.

No matter what regulation is not regulated, we will teach you a simple and crude method. Bloomberg will search the name of the platform on the terminal to see how many users there are. Because the formal platform needs to do risk control and hedging, so many traders must keep in touch with the bank investment bank in real time in such a big booth, so it must use BB chicken, and making phone calls will definitely not work.Therefore, according to the number of BB, we can infer the completeness of the manpower and facilities of a platform trading department.Personal experience of more than one page belongs to reliable, sporadic 1 or 2 belong to at least in the business, none of them do not explain the garbage..



There are also a lot of personal comments asking me what ECN STP is better and so on. I once again emphasize that there is no ECN STP in retail foreign exchange margin. All platforms are positions with LP.

Even many large platforms will set up another LP company for their own business, which will be used for their own platforms and help other companies to handle their positions.The only difference is whether the platform you use is to take your own position or to just leave it all to another banker.The so-called ECN STP NDD is a marketing slogan to deceive Xiaobai and half hung employees, so we should not be caught in this mistake again.

Finally, I would like to reiterate that any overseas license is useless for retail investors in China, and any ECN or STP is also useless. The foreign exchange speculation of retail investors is specially designed for retail investors, which is different from the real foreign exchange market..

You can check the services and reviews online or try to get some verification from the platform you want to trade with.

I would say to check the integrity of their regulatory body along with the genuine word of the mouth.

The trading platform must be functional, secure, and respond quickly to any changes.

The easiest way is, of course, to try it yourself and see for yourself.

A platform should provide good services and should be stable. You are right to say that it doesn’t matter if the platform is regulated or not and I believe as long as the trading conditions are suitable, it is okay to go with it. Like I’ve been trading with some brokers that fulfil my trading needs which are low spreads, commissions, fast withdrawals, good customer service. And in all these regards, Oanda, Fxview and TDA are good choices.

The best way is to practice on a demo account first.

Kazile posted:
The trading platform must be functional, secure, and respond quickly to any changes.

Yes, and I think the reliability factor to an extent comes from how well established a platform is. That’s why I think metatraders are so popular, especially MT4.

turnipfollow posted:

Kazile posted:
The trading platform must be functional, secure, and respond quickly to any changes.

Yes, and I think the reliability factor to an extent comes from how well established a platform is. That’s why I think metatraders are so popular, especially MT4.

It is also to do with the fact that all the commercial EAs we get in the market are built for mt4.

Kylealker87 posted:

turnipfollow posted:

Kazile posted:
The trading platform must be functional, secure, and respond quickly to any changes.

Yes, and I think the reliability factor to an extent comes from how well established a platform is. That’s why I think metatraders are so popular, especially MT4.

It is also to do with the fact that all the commercial EAs we get in the market are built for mt4.

I would think so, and that’s why although I change brokers often, I always use MT4, even with many other platforms offered with them, latest being fxview and xtb, chose MT4 over Acttrader or xstation.

The best way to determine this is to research your way into it. Testing out a platform can also work towards getting a fair idea about it.

You can read online reviews, ask professional traders or try out a platform yourself to find out if it’s good. You can also check if it is regulated.

Yes, these are some very good suggestions. Thank you for sharing them here.

The platform on which you will invest must be secured. So it is necessary to choose a regulated broker. And it can be easily found by research.

Research on multiple sources to narrow down the ones that are candidates and then probably testing them out yourself.

I believe demo trading is the best way to check whether the platform is good to go or not. Demo gives a brief idea about broker’s offerings. Even I tested fxview on their demo account before going live with them.

Regulated brokers need to choose a stable platform. It is possible to do risk free trading.

Alternatively, work on a demo account with this platform. This is quite a good option to test the platform.

skihav posted:
Alternatively, work on a demo account with this platform. This is quite a good option to test the platform.

A good option, in trading the demo platform can give good support for market verification.