One of the most important choices that a new trader will choose is to choose a broker, and the broker’s trading platform is an important part of this choice. Here are some considerations when choosing a trading platform like that of IQ option:
Security
To trade you must deposit and withdraw cash. If your agent does not offer a secure and encrypted platform, this may jeopardize your banking information. Look for information on how the provider encrypts your information, as well as information on how you can transfer money.
The trust
How does a commercial platform work under pressure? It does not make sense to use a trading platform that fails with an increase in the number of transactions, since at this time you would also like to negotiate.
Speed
How sensitive is the platform? If you are a short-term trader looking for quick profits, it is important that you can quickly enter and exit positions. Even if you hold positions longer, speed is still important, because you can lose the desired price if the market moves fast.
Price
How much does a trading platform cost? Most online trading platforms are free. However, if you need to pay a commission, ask what additional benefits you will get for paying the platform and how it compares to free platforms offered by other suppliers.
Customer service
It is a good idea to see if the brokerage provider provides customer support for the trading platform, as some only want to open an account. The good provider will have a customer support phone number or email information on their website, and you may have frequently asked questions or a referral portal where you can read frequently asked questions about the trading platform.
Fitness
Is the trading platform simple, easy to use and customizable according to the needs of your business? Is it compatible with Mac or iPhone?
Other considerations
Some commercial platforms may include additional features, such as business opportunity alerts, graphics packages, and market research.
If you are making transactions from a graphic, check to see if you can access them from your mobile phone, whether they correspond to online functionality and whether they are easy to navigate. Can they be customized according to your needs? And can you trade directly from the charts, or do you have to close or open another window first?
Regardless of how much you have read and how many times you have contacted the support service with your questions, it is difficult to determine how well the commercial platform will serve you before trying. Many brokers offer free demo accounts with some or all of the features of their live platform, and these IQ Options platforms can be a great way to not only compare platforms and suppliers, but also test trading strategies.
