Over the years, CFD trading has increasingly attracted traders and investors across the world as this offers a flexible and cost-efficient way to take a position on the financial market. Today’s globally connected economy does not allow businesses to stop at any time. When one of your main clients sleeps, another is just heading to work in a different country, so too the leading stock exchanges in the world. CFD trading is mostly done through online trading platforms. Many CFD providers and brokers offer traders the ability to trade on the leading indices throughout the day. So, if you are based in the USA, not only you can access to the Asian marketplace when it opens but also can trade whatever stock or index you like, 24 hours a day.
CFD Trading Platforms
No matter what you trade, efficiency will always be the key to success. Although every CFD broker tries to offer the best services to their customers, there are only few who really make it possible. As a trader, you may often find yourself facing numerous difficulties while implementing a strategy that you learn through different courses in CFD training. With a good CFD trading platform, you not only get the best possible training, educative seminars, and other free tutorials but also can obtain the facility of accessing to free demo trading account to practice CFD trading without risking your real money. Additionally, there are many advanced tools and features that come handy when you have your hands on practice.
Below are some of the important features and tools that together make a good CFD trading platform.
Technical Indicators and Drawing Tools
This makes one of the very important features of any CFD trading platform. These features help analyze pricing movements and perform comprehensive technical analysis which is useful to make decision when you trade a CFD. Mainly a fully integrated technical analysis suite incorporates easy-to-understand charting package and tools needed to analyze the financial markets. A good CFD trading platform usually comprises various chart types, such as candlestick, line or OHLC charts as well more advanced charting like renko charts. These charts are accompanied with an assortment of drawing tools that help you draw support and resistance level, highlight important price movement, and write notes on charts. The technical indicators, on the other hand, are useful for identifying trend problems, hot trading opportunities, and considerable price levels in CFD markets.
Price Projection Tools
Many CFD trading platforms provide their customers with excellent chart packages in order for them to explore common technical charting patterns as well as candle formations presented on open charts during long and short term time intervals. The pattern recognition tool is another important feature of a good CFD trading platform that allows you to automatically identify visible patterns and obtain price projection targets in order to highlight potential trading opportunities. With pattern recognition tool, you can view common technical patterns and price projection target areas on any open chart across different time intervals. Likewise, a price projection tool of a good CFD trading platform automatically creates a price projection box through technical analysis techniques, highlighting where the price action is likely to move.
A good CFD trading platform allows you to navigate across its features and tools easily and efficiently. You can group together various modules at the same time. This makes other charts in the group automatically update to demonstrate new products when you change the product displayed in a chart. The module linking feature of a good CFD trading platform will also let you evaluate the price action for the similar products over numerous intervals and time frames simultaneously, making the comparison of long term and short term positions much easier.
Mobile Friendly Charting
In today’s smart world, being smart does matter a lot. The same phenomenon goes true for online platforms that are meant to make trading CFDs more accessible and easier than ever. A good CFD trading platform is mobile friendly and can run as effectively on your mobile screen as it would on a desktop. Some of online trading platforms also offer mobile-based charting apps for users of android, iPhone and iPad that have different chart types, such as bar, line, spread, candlestick, and heiken-ashi charts for your assistance. These apps include many technical indicators and useful drawing tools as well. Similarly, they allow you to make trades on live streaming pricing and edit orders details immediately using their mobile charting apps. Plus, you can also conduct price comparison and identify considerable CFD market movements across many different financial products.
News and Insights
Online trading platforms can be the best medium for traders to have an access to numerous sources of CFD market news and exploration. Usually, a good CFD trading platform will provide their customers with the latest market analysts’ posts and daily commentaries in both written and graphical forms. Some of those also offer video content for the same to help traders have better understanding of the market trends and daily trading ideas.
The easiness of use of any app or software makes it the best one to use for the purpose it was developed. A good CFD trading platform will offer you built-in support in order to help you have a better understanding of its features, tools, and the overall environment. You can avail this type of support in form of platform tour videos to determine how you can use tools to devise stronger trading strategies, live chats to get answers of your queries, and feedback to reveal your thoughts over the services.
A good CFD trading platform is the one that regardless of your trading experience can easily be tailored according to your particular trading needs. Since CFD trading itself is a complex job, the trading platform needs to be easy to understand and easy to use in order for you to place your trades successfully. Moreover, it should comprise all the features and tools discussed above so you get something really effective and up-to-the-mark for an excellent exposure in the marketplace.