What is the best laid out currency trading platform?
Friday, July 23rd, 2010 at
11:11 pm
I like fxcm’s layout, but are there any others similar or better in layout?
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The best is the one youre comfortable with, which can only be learned by using them on demos — BUT, its easier than you think !
the MT4 platform is used by "essentially" EVERY "free" broker out there (metatrader 4), so one brokers charts and layout is the same as the next ! That list includes virtually hundreds of brokers, so one platform and you can use any broker !
There is also the "Currenix" platform, used by HotspotFX and a few others, although hotspots price of admission is $7500.
MB and EFX use their own platform presently, but the rumors are that they will move to a MT4 platform in the near future, while still maintaining their ECN status. Entry price into their club is in the $450 USD range.
youre obviously a newbie, and to be honest with you at this point, you have no idea of what you dont know yet —– You can LEARN this information and become a reasonably competent trader in perhaps a year to a year and a half, BUT YOU HAVE TO LEARN IT FOR YOURSELF BECAUSE OF THE VARIETY OF TRADING AND METHODOLOGIES AVAILABLE TO YOU — no ONE answer can help you if you do not have the knowledge to fully understand the type of trading the offerer of that advice gives you, not to forget most of the information you will get comes from those still in the learning game themselves AND has to be taken with that large grain of salt !
I will say this, simply and for your edification — JUST DO IT !!!
You will learn over time what works, what doesnt, who has good ideas, who doesnt and whether or not youre any good at this or not and as long as you realize this is like any other profession or endevor where you must learn the culture and rules —- use demo accounts ONLY and use a few to see the differences, then you WILL LEARN !
I could give you a list of things to learn but at this point in your journey you wouldnt have a clue as to how to use the information, and I’m usually a bit busy trading for my company to sit down and personally assist each and every newbie (theres one heck of a bunch of you, and new each day !)
Just remember, "there’s no such thing as a free lunch" and you HAVE TO STUDY, LEARN AND PRACTICE, but after a year or two you should reach the "competent" stage, entitled to wear the double breasted blue blazer, white wingtips and the jaunty attitude of "international banker".
I wish you well on your journey — it gets easier each day !
enjoy and trade well
mp
Check out;
http://www.ForexBastards.com for their reviews of FX brokers.
Remember the choice for an FX broker is not based in finding the best. It’s a tough split between finding the least worst and one that matches you needs.
I used FXCM and InterbankFX. InterbankFX had the better platform (esp. for charting). Both are terrible for trading the news. Watch out for "dealing desks" that hunt stops.
I’m a beginner and I like InterbankFX lay out.
It is easy to understand.
Cheers