What are top 3 things in your mind when choosing a fx platform as a novice trader?

Beginner Questions
1

My own:

  1. Simplicity
  2. Lower spread
  3. Trustworthiness
2

Hi as fx platform you mean broker?

3

By platform, I meant like FXCM, OANDA and FOREX.com

4

@logic101

Platform : eg, MT4 MT5 Ninja Trader etc…

  1. How close to the Broker server is it.?

  2. Does it suffer problems like large slippage and always disconnecting freezing.? (he hem "ICmarkets) cough cough…!!!

  3. Does it have enough Flashing lights to impress my GF. ?

Broker :

  1. Research the company (is it Big and well regulated. good customer support and good reviews from its traders or small with no regulation hard to contact support and lots of bad reviews) ?

  2. What is there business model who supplies their liquidity ?

  3. has their website got Loads of flashing quotes on it so when my GF walks in she thinks I’m some kind of Banker ! ………. :sunglasses:

5

I first of all see the broker is well reputed or not than I see the services they offer in them I see
spread should be low
minimum capital facility
micro account availability so that I can do live trading practice on them without investing a big amount in standard account.
One important thing is the withdraw method should be easy for trader .Trading platform should be responsive and trades should be execute in time.

2 Likes
6

Point number 4 is active customer support!

2 Likes
7

Mt4 is my favorite trading platform! I have no idea on others platform!

8

Well @Luke_Ronchi ,

The platform is really just an entry point into the market and you could use other resources to do your analysis.
1 of the things that really pises me off is the time it takes from when I submit an order to when it gets filled cos (1 second your placing an order with spread at 0.1 pips but then it stalls for 5, 10 even 15 seconds or longer while the spread widens in that time to 2pips 3pips or maybe 10 pips. Now if your trading 1 to 5 or more lots then that’s a lot of money you just gave them,
and all they say is “Low liquidity” even though they have got the top 5 - 10 banks in the world supplying them with that liquidity. total Bullsht .

9

As a novice is hard to choose the right one but as an intermediate or experienced:

  1. Spread
  2. Withdraws time
  3. Client support