Oil hovered near a one-year low on Wednesday as increasing concerns over U.S. economic health and the Federal Reserve largely offset positive supply-side signals from a bigger-than-expected draw in crude inventories. A growing number of Wall Street banks warned of a potential recession in 2023, especially if interest rates keep rising and if inflation proves to be stickier than expected. Strong U.S. economic data this week suggested that upward pressure on inflation is likely to…
A trading platform is a software used for trading: opening, closing, and managing market positions through a financial intermediary such as an online broker. Online trading platforms are frequently offered by brokers either for free or at a discount rate in exchange for maintaining a funded account and/or making a specified number of trades per month. The best trading platforms offer a mix of robust features and low fees.
- Trading platforms are software tools used to manage and execute market positions.
- Platforms range from basic order entry screens for beginner investors to complex and sophisticated toolkits with live streaming quotes and charts for advanced traders.
- Traders and investors should take multiple considerations into account and balance trade-offs when selecting a trading platform.
Popular Trading Platforms
There are hundreds—if not thousands—of different trading platforms, including these four popular options:
- Market 24×365: MT24365 is the most popular trading platform for professionals with low fees and access to markets around the world.
- Binary Opinion: Binary Opinion is a popular trading platform for algorithmic traders that prefer to execute trading strategies using automated scripts developed with Easy Language.
- TDAmeritrade: TDAmeritrade is a popular broker for both traders and investors, especially following its acquisition of ThinkorSwim and the development of the Trade Architect platforms.
- Robinhood: Robinhood is a commission-free trading platform targeted at millennials. It started off as a mobile app and now has a web interface as well. The platform makes money from several sources, from interest on cash in its accounts to selling order flow to large brokerages.