What are the Most Suitable CFD Trading Platforms for Smart Trading?

CFD trading platforms come in many different kinds, and when it comes to specialized trading, some are more suitable than others for each specific market.

CFD Trading Platforms for the Specialist Trader

Each specialist trader knows that they need more of certain features and less of other features in their highly focused strategy. Some CFD trading platforms offer more flexibility, more ease of use, and better suit the needs of flexible traders. Traders who may switch from fast trading to slow trading or vice versa. Traders who engage in trading CFD contracts for efficiency reasons. These traders demand reliability from their brokers and trading platforms, as well as good levels of liquidity. They care less about commission costs, the need for having a larger size monitor or using all kinds of mobile devices to be in touch with the market at all times. Specialist traders study their markets at home, and never whilst on the move. They are confident to trade on the move only when they have their market analysis notes with them. The trading platform has to be good enough to work on a mobile device, and at least display the market charts accurately, and to update prices fast. Some new traders fall victims to technology convenience, thinking that all these smart phones and tablets can enable them to study the markets while away from their offices, but this is not possible. Brokers do encourage trading on the move, but without the proper guidance that the study
at home office can provide, good trading becomes almost impossible to implement.

Traders Want Simple, Reliable Trading Platforms

CFD trading platforms in particular, have to be fast and efficient, since the CFD trading Australia’s traders want and demand is all about efficiency. This efficiency relates to higher profit margins per trade, not commission costs. These traders are wise enough to know one market from another, and how each specific market is best traded. As long as the platform is reliable, good trading will be possible. As far as automation goes, things such as contingent order placing and automatic triggers for these orders, different platforms vary significantly. Occasionally, all traders will need automation of some kind, though it’s not super-critical to success. Those who learn forex trading for example may first avoid overnight trades, as they have been told by their mentors. But they soon find out that most profitable trading hours in a currency pair, might be while they are sleeping. So automation and contingent orders may provide some solution to this problem, but even a primitive, but still reliable platform, coupled with a longer term trading strategy will work just as well. After all it is very unlikely that the automated orders of those new traders will be 100% right on the timing.