The emergence and evolution of technology has changed the way we manage our day to day dealings. In the same way, it has impacted the way we trade and manage our investments.
We no longer see those rowdy trading rooms, where people used to yell at the top of their lungs to announce the selling price or buying price of their shares. We don’t see that incessant ringing of phones and people instructing their traders on what to sell and what to buy.
With digitalization of global economy, the way we trade has also changed. Now is the age of automated forex mql4 trading platforms that are dominating the scene. Today, we have desktop trading platforms being used all around.
But when it comes to these desktop trading platforms, there are some features that we feel are in the category or must have and some in the category of good to have. Let’s see what these must have features are.
Table of Contents
1. Simple User Interface
The concept of trading can be highly complicated. Why make it more daunting for somebody by complicating the interface itself? So, the trading platform should have a very clutter free and simple user interface which is easy to understand and use. The trader should not be overwhelmed by the aesthetics if he has to use a stable mind to make trading decisions.
2. Graphical Representation
Playing on the human psychology, the interface should have graphs to represent trends. An average user may find it extremely confusing to decipher numbers and make calculations to understand the trend. It can also be difficult to make addition or deletions to understand the extent of growth or fall. A graphical representation can help address this problem and even make it easier for the user to understand the pattern.
But just using graphs is not enough. What really matter is that the right kind of graphs are used. You cannot use a bar graph to depict a pattern or trend. Instead, a trendline graph is more ideal.
3. Accommodate All Kind of Trades
Not everybody trades in shares. There are some people who trade in spot metals, spot energies, futures, and even spot indices. The trading platform should be able to meet the needs of these traders as well. Even they should be able to see what is happening in their market along with the shares.
4. Decent Sized Buttons
The buttons of buy and size should not be too big or too small on the screen. Their placement should be such that they can be easily spotted but should not be distracting enough for the users. The buttons should make it easy to buy or sell for the users.
5. Demo Run
The trading platforms should allow for a demo run. This will give the users an opportunity to try the product and determine if it is the right choice for them. A demo account will give them time to try their hand at trading without losing anything.