Key Features that a Trading Platform Must Have

One of the principal decisions that a newcomer to Forex trading would need to make is which broker to ally with. It is critical that a beginner carries out research in this process, attempting to identify a brokerage that would have all the necessary aids and facilities that he or she would require. 

Among the many features that an online broker provides, possibly the most important one that you need to keep in sight is the trading platform. The trading platform needs to have high performance, along with all the vital requirements needed to trade. The platform needs to also remain reliable and stable, without chances of crashing or freezing in the middle of the trading process. 

In this article, we’re going to be looking at some of the key features that a trading platform needs to have for optimal performance:

1) Security for deposited funds

The first thing that a platform in currency trading should offer is a security for your deposited funds, regardless of what the amount is. 

2) Streaming function

Another vital feature is the capacity to stream data in a real-time manner for the trader to see. Although this facility would be handier with stocks and commodities trading than with Forex trading in South Africa, it could still be an efficient aid. The display of this needs to be convenience-oriented, allowing the trader to identify key data points easily. 

3) Simplicity and order-making capacity

The entire trading environment is better off with a simple and to-the-point arrangement, ensuring that clients do not end up making errors. The buying and selling orders, along with the ability to exit and enter transactions, need to be presented in a more organized and efficient manner. Along with all of these, a reliable trading platform should also allow clients to implement and edit stop losses.

4) Charting aids

A vital feature that most platforms would include is charting software. Charts are central for providing the information and analytics on which traders build their decisions. The better this facility on the platform, the more informed and calculated the trader’s transactions would be. An important factor for charting instruments would be the facility to project both short and long term trading periods. 

Of trading software, the first type is built by third-party entities and is adopted by brokers across the field. A prominent example of this would be MetaTrader 4. The second type would be platforms individually designed and tailored by the brokerage for its clients. Depending on the type of aids and facilities that one would like, both types of platforms come with their own unique advantages. 

If you want to ally with a broker with a stable, high-performance platform and plenty of instruments and aids, then choose WesternFX. We are among the leading Forex brokers in the region, with clients in South Africa and multiple other countries. Get in touch with us now!

Four Basic Tips for Beginners in the Forex Space

Analysts in the industry use pivot points, which represent levels of resistance/support, to determine the possibility of price changes over time. Originally, this technique was restricted to floor traders defining prime areas to watch during the trading day. However, over time, the technique has expanded and is currently used as an indicator for bolstering online trading performance. 

Explaining Pivot Points

Initially, it represented the mean value taken between the price at its lowest, highest, and close price over a time frame. This system was built on and used to determine support or resistance within the market. The way it is understood today, is that if the price shoots over the pivot point, it was a signal of a bullish market. Meanwhile, if the price dropped below, it was a bearish sign. Based on this movement, traders in South Africa closely analyze the platform for further developments.

Developments Over Time

These are utilized by technical analysts to build higher forms of market evaluation and statistics. For example, a new concept known as Fibonacci Pivot Points makes use of the golden ratio to assert stronger analysis of the future of the market. 

Another style, known as the ‘Demark Pivot Points style’ further built on the concept. In this style of analysis, calculations are made upon the opening price with respect to the closing price for the period. Unique to this style is that it uses only one level of support and resistance, unlike others that usually utilize more. 

Profiting from Pivot Points

They can be used to boost trading accuracy, as they represent areas of resistance or support. As a result, they set the precedent for the movement of prices by indicating when the trade is going higher or lower. As mentioned above, a price moving above its pivot point is to be taken as a bullish symbol. One that moves below is a bearish one. Along with this, the areas of support/resistance established through these points should be looked at as vital regions for a trader to keep track off. 

When using pivot points, analysts need to keep in mind that they represent a more restricted time period. On the other hand, when considering the market, traders need to expand beyond just one time period for a more stable view. 

Conclusion

Using pivot points when trading has become a strong strategy based on technical analysis. However, it takes robust knowledge of Forex trading in South Africa, as well as experience and skill, to fully utilize this technique to make gains in the market. WesternFX is a leading brokerage in this region, one that has assisted traders across eighteen countries. We have a strong grasp over this art and can guide you through it too. Call us now for professional expertise on the subject. 

Forex Trading: 6 Reasons You Should Go with WesternFX

Online trading is an enterprise of risk, opportunity, and thrill. Trading in Thailand takes place in massive volumes, and across many mediums. The Thailand Forex is one such platform.

Here is an inter-connected stage for people over the world to exchange and speculate over currencies. Although people have built considerable profits over this medium, plenty have lost as well. For a beginner, it is essential that you choose the right partner to work with in this unpredictable market.

WesternFX is a brokerage firm that teams up with traders and guides them through the Forex exchange medium. It had recently been voted a top broker firm in Asia and has steered many traders towards success in this high-risk enterprise.

In this article, we’re going to be exploring some of the salient features of WesternFX, and why you should choose them as your broker if you’re thinking of dabbling in the currencies exchange:

Keen insight into the market trends

The corporation keeps itself anchored with the trends taking over the market. It brings on consistent update reports over the market. In addition to this, the brokerage uses sound analytics to evaluate the trading field and bring the latest developments to the fingertips of its clients.

High-speed execution

Customers can execute a trade at extremely high speed, and with minimal lagging time. The company carries transactions through at a quick speed and sends an alert to the trader upon doing so. This, consequently, cuts slack and reduces working time for traders, enabling them to focus on their primary transactions.

Robust Regulation

WesternFX has built its business on sound legal framework. The corporation operates with excellent security parameters and adheres to all national and trans-national regulatory laws. This, as a result, guarantees peace of mind for the client, ensuring that his investment is safe.

Multiple earning avenues

Apart from the core brokerage services that this firm offers, there are various other programs aimed at increasing revenues for clients. From bonuses to demos, there are multiple pathways to increase knowledge about the trading business, while also making extra bucks.

Great customer support

Clients can reach the brokerage at any point in time, and elicit a quick response. The company has a well-established customer service platform. Queries are sent to a particular address, with quick, timely responses. Apart from this, the corporation has a phone line, a messaging facility, and a live chatting interface on their home page. They maintain an active social media presence, staying connected with their customers on these channels as well.

Enables trading on multiple platforms

WesternFX has been adapting to the changes in technology. It offers its customers a high-quality trading interface, the MetaTrader 4. This software is applicable on a variety of operating systems, from Windows to iOS and Android. This forges convenience and ease-of-working for traders immersed in a busy schedule with their regular day jobs.

In the world of trading, very less is predictable. It is imperative that you arm yourself with the capacity to sense the shifting mood of the market, and are mentally fortified to fight through the ups and downs. If you don’t know where to start, WesternFX can help you step-by-step through the field.