If you ask a day trader who uses an online trading platform such as MT4; about the appeal of investing as such, the answer will surely be because online trading is easy and very quick as compared to the conventional trading method. There are however, other advantages due to which investors are attracted to day trading via online trading platforms.
Online Trading Platforms Reduce the Need for a Middle Man
Making a trade was nigh impossible a few years ago, without first setting up a meeting or at least giving a call to your
broker. Now, with only a few clicks, you can effectively start trading! The increased accessibility, while being helpful in general, is very attractive for those in particular, who don’t have the connections or finances that are needed to work with a professional and full service broker.
By using online trading platforms, you, as an investor, won’t come into direct contact with a broker however; this doesn’t mean that your trading decisions will be made without any broker input facilitated by the program itself. This means that every trade and dealing that you make can be first analyzed by the help and support feature, so that maximum returns can be gained from each trade.
This is a fact: it will cost way more if a broker is hired to execute your trades. While online trading platforms also require a commission of sorts, the cost won’t be as high as that of a broker. There are some online trading platforms available that don’t require any minimum payment for making an account as well. In addition to this, many popular online trade brokers have policies in place that promise a money back guarantee of a small percentage in case of a loss in trade.
Online Trading Platforms Offer Greater Control to Investors
The one reason why traders and investors are attracted to online platforms is because of the level of control offered, i.e. they can trade whenever they want. Compared to conventional trading, where you may have to deal with delays regarding getting in contact with the broker or even in relation to placing the order itself, trading using online platforms is the more attractive option.
Monitor Investments in Real Time by Online Trading Platforms
Most online based brokerages offer users advanced features and interface that provide them the ability to view the performance of their investments throughout the day. All they have to do is log into the program or software through a computer or an internet capable mobile device, after which gains and losses will be shown in real time. In addition to this, the platforms and software programs also offer tools that can be used by any level of trader to analyze investments before making them.
Now, online trading platforms and programs are becoming more user-friendly than ever before. Some even provide a demo of sorts that enables the user to first get the hang of a particular platform, before dealing in real investments with real money. You can visit ETX Capital, for more information regarding online trading.