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23.07.2021

Top 7 Most Effective Trading Platforms 2021

TOP 7 Most Effective Trading Platforms 2022

There are a vast number of platforms created by software developers from all over the world. Meanwhile, Forex brokers choose platforms taking into account two main parameters, namely:

◻ Performance

◻ Convenience for the end-user

Still, excessive functionality can scare away novice users, while convenience is a subjective thing.

Profit Center FX developers have tested 20 of the most popular trading platforms available in 2021. Our experts selected the top 7 products that demonstrate a universal balance between performance and usability.

Great Analytical Capabilities: Ninja Trader (NT)

The platform is a highly functional product. NT was created by a private American company headquartered in Denver. The trading platform offers users to invest in trading instruments like:

🔹 Forex

🔹 Shares for trading on stock markets

🔹 Forward contracts

🔹 Futures

🔹 Options

NT is used by dozens of brokerage companies around the world. This software is a highly accurate market analytics tool.

It is suitable for both manual and automated Forex trading. Seasoned traders also use NinjaTrader to test and build promising trading strategies.

Hits:

🟢 20+ analytical tools

🟢 Reliability

🟢 High-performance indicators

🟢 Intuitive interface

🟢 Advanced (Pro) and lightweight version (Lite) of the trading terminal

🟢 The “Lite” version of the platform is free

Misses:

🔴 The basic version does not have an automatic trading function

🔴 The cost of the “Pro” version of the trading platform is $50 per month

The Versatile Choice for Professionals and Beginners: X5

This software is a one-stop solution for experienced and novice users. X5 is an advanced Forex/ CFD brokerage software.

The developers of the trading platform have simplified the brokerage terminology and made it intuitive. This reduces the time required to learn the functionality of the software and start trading. In addition, the X5 platform is presented in web and mobile versions.

Hits:

🟢 Thoughtful design and intuitive interface

🟢 3000+ trading instruments, including those for trading on stock markets

🟢 A set of professional tools for advanced clients

🟢 Demo mode for preliminary acquaintance with the terminal

🟢 The client can use accounts in different currencies without loss of conversion

🟢 The trading platform can be integrated with any payment system

🟢 Simplified process of placing trade deals – the system will automatically determine the type of order and go to the trade server

🟢 Online trading with charts

Misses:

🔴 No deviations found

Next-Generation Copy Trading: ZuluTrade

It is an online trading software that offers free signals for Forex traders. The IT solution is based on “copy-trading.” In other words, users can follow the trading strategies of successful investors and make a profit.

ZuluTrade brings together over 1200+ experienced traders who use the platform’s capabilities and trade on their live accounts. Today, tens of thousands of ZuluTrade clients actively use trading signals from professional providers to make money with automated trading.

Hits:

🟢 Free demo account of the trading terminal

🟢 A wide range of providers of trading signals

🟢 Intuitive interface for trading in stock markets

🟢 Activation of the automatic trading option in one click

🟢 The unique service Zulutrade Alchemy allows you to analyze and select providers by the degree of efficiency

Misses:

🔴 A low number of gainful providers

🔴 Most providers do not use risk management strategies

Universal Platform by Dukascopy Bank SA: JForex

This trading platform was created by a team of developers from Dukascopy Bank SA. The software is designed exclusively for the bank’s clients.

The trading terminal was initially available on the bank’s official website. Note, the platform sign-up is available only after passing the appropriate authorization procedures. If necessary, the trading platform can also be installed on a PC. The terminal runs great with all popular operating systems.

JForex is in no way inferior to such a popular trading platform as MT5 in terms of its functionality. However, the JForex developing software studio is none other than Dukascopy Bank SA – one of the largest market makers and liquidity providers. As a result, the broker’s clients deal with accurate prices and top spreads for the most liquid assets.

Hits:

🟢 A wide range of trading instruments for stock markets

🟢 News and detailed financial analytics

🟢 PAMM (Percent allocation management module)

🟢 Supports 12 languages

🟢 Over 60 technical indicators and 25 analytical tools

Misses

🔴 The minimum amount required to open an account is $1,000

🔴 It can’t be integrated with custom-made MQL5 or MQL4 indicators

Flexible Modular Platform: Rumus

The Rumus trading platform was initially designed to offer the most popular Forex features. Over time, the developers have expanded the functionality. Furthermore, they added new features and improved trading efficiency.

Hits:

🟢 Great set of technical analysis tools

🟢Options for creating your indicators

🟢 Tabular display of quotes in real-time

🟢 Well-thought-out charts library including “Renko” and “Kagi”

🟢 24/7 check of important macroeconomic events

Misses:

🔴 Outdated interface

🔴 Too complicated for novice traders

Deep Analytical Functionality: MetaTrader4 (MT4)

The software was created by MetaQuotes Software Corp. It is a top-known Forex software development studio. MT4 replaced the previous version of the MT3 trading platform and offered users some innovative breakthrough solutions:

◻ Extended functionality of the user’s area

◻ Comfortable environment for developing individual trading strategies

◻ New distributed architecture with high-performance features

Since its launch in 2005, the trading platform has received a considerable number of updates. The product continues to be incredibly popular, especially among users living in the CIS.

FACT! The trading platform can simultaneously serve 10,000+ users.

Hits:

🟢 Advanced security system

🟢 Ample opportunities for automated trading

🟢 Great performance

🟢 Flexible interface settings

🟢 Tons of indicators and analytical tools

Misses:

🔴 Inconvenient grid on charts

🔴 Fixed candle length

🔴 Standard time frames

Top Choice for Newbies: Libertex

The software was developed by Forex Club. The IT-solution has several versions, namely:

◻ Mobile app for Android and iOS

◻ Web and desktop versions for Windows and Mac OS

The platform offers the following trading instruments:

🔹 Forex

🔹 Cryptocurrencies

🔹 Precious metals

🔹 Indices

🔹 Energy resources, and so on

Users can also test the platform with a free demo.

Hits:

🟢 The registration process takes about 2 minutes

🟢 A large number of trading instruments

🟢 The interface is excellent for novice clients

🟢 Top-notch mobile app

Misses:

🔴 Lack of analytical materials on financial markets

🔴 No leverage trading

Practical Advice On Choosing a Trading Platform

When choosing a platform, brokers need to pay attention to several important parameters.

Mobile Version

The number of users trading on smartphones and tablets is increasing every year. Therefore, a mobile site for Forex trading is not an extra option. On the contrary, it is a mandatory component of every effective trading platform.

The mobile version should not be inferior to the online version of the Forex trading platform. The version for smartphones is a handy tool that allows users to trade from any world’s spot 24/7.

For example, the mobile version of the X5 trading platform has the same set of tools and a library of analytical indicators as the web version of the trading platform. Therefore, the bulk of the target audience of X5 is mobile users.

Maximum Variety of Trade Orders

The most effective software solutions should offer the maximum number of types of trade orders. The standard set includes Market, Limit, MIT, GTC, Stop Close Only, etc. This allows brokerage companies to attract not only newbies but also professional traders who use advanced trading strategies.

Demo Trading

Using the demo is a great chance to familiarize your potential clients with the capabilities of a trading platform. X5 also allows you to brand the interface and thus customize it for the broker’s brand.

A Wide Range of Tools for Technical Analysis

Trading platforms should offer a professional set of indicators for Forex trading, including:

◻ Middle Average (MA)

◻ Bollinger Bands

◻ Average Directional Movement Index (ADX) and so on

Online Trading from Charts

Buying and selling trading instruments directly from the chart dramatically increases the number of trading operations and makes them even more comfortable.

For example, the X5 functionality allows traders to manage all open trades displayed on the chart as a bar. Thus, users immediately see the result of their investment.

Copy-trading

Not all novice users want to make trading decisions on the Forex exchange independently. That’s why software development studios have created a module of investment strategies.

The X5 trading platform module allows users to copy transactions of successful clients while maintaining control over their finances. All deals are copied directly at the trade server level. As a result, clients do not need to constantly keep the platform open or buy a VPS server to trade on the Forex exchange 24/7.

Features of Using the Platform for Trading

Traders use trading software to solve a wide range of tasks, including:

🔹 Market analysis

🔹 Selection of trading instruments

🔹 Conducting buy and sale transactions

🔹 Creating and testing trading strategies, and more

Each platform is designed either for the target audience of beginners or professionals. There are trading terminals (e.g., MT4, Rumus, and Libertex) that are more suitable for professional users. They offer the largest number of analytical tools and are tailored to the needs of experienced investors.

Other software solutions (e.g., JForex, or ZuluTrading) have a simplified interface designed for beginners. These trading terminals offer:

🔸 Simplified registration procedure

🔸 Intuitive interface

In today’s roundup, we also checked the X5 trading platform, a one-stop solution for the brokerage business. The platform offers not only a professional set of analytical tools and a minimum slippage calculated in nanoseconds. The forex trading software also has an intuitively simple interface, uses simplified brokerage terminology, and allows users to trade from charts.

Conclusions

Forex is the world’s largest market. The Forex exchange boasts a daily trading volume of over $5 billion. Such results were achieved due to the affordable financial threshold for user entry and favorable market conditions.

All that a user needs to start online trading is:

⚫ Stable internet connection

⚫ Minimum investment from $5

⚫ Trading platform

The trading platform is the most critical component for the functioning of a brokerage company. The software solution offers brokerage companies instant access to the global Forex market and carries out trading operations. The software is presented in both mobile and web versions.

Each of the investment platforms in today’s review can prove to be a very effective tool for the functioning of a brokerage company. The listed software products have unique features that set them apart from dozens of competitors.

For example, the X5 investment platform has a professional set of trading tools for experienced clients and an intuitive interface for beginners. This makes it a versatile solution that allows you to attract new customers quickly.

If you are looking for specialized software for organizing and running a brokerage business, contact Profit Center FX specialists.

Our company has accumulated over 12 years of experience in integrating professional Forex trading software. So we do know how to launch a highly margin brokerage business in 3 weeks!

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