Advanced trading platform in the UAE
Every day, the world of technology opens up more and more possibilities, introducing innovative developments in all sorts of gadgets and online programmes. Most mundane everyday tasks can be done with the help of various automated systems, reminders and alerts, as well as using various apps. It only takes a few minutes to, for example, get a hotel room, order lunch at the office, pay for online courses and services, or book a table in a restaurant. The internet and new technology allow us to do all of these things from the comfort of our homes and offices, and the list of possibilities is truly endless.
We can also now invest online too. It sounds unbelievable, because investing is a rather complicated and time-consuming process which we associate with piles of documents and large investments which are only available to owners of multimillion-dollar fortunes. But, in fact, online trading is an opportunity to enter the huge world of investing with just a few dollars of start-up capital. All you need is an internet connection and a laptop or a mobile phone.
Brokerage companies have developed special trading software which allows you to trade online.
With the trading software, you will have full access to the investment market online.
You will see all the current quotes in real time and be able to invest in different financial markets.
The competition in the UAE brokerage market is quite intense and brokerage firms are constantly improving their trading software to win the trust of traders.
A modern online trading software is an advanced trading platform that provides access to various financial markets with a variety of assets, analytical and trading tools, and up-to-date information.
The current review focuses on the topic of choosing an advanced trading platform in the UAE.
Online trading platform
Online trading software is most commonly referred to as a platform, as the developers have created different versions of the software - desktop, mobile and tablet versions. Thus, you can work from whatever gadget is convenient for you or combine working on a laptop with working on a mobile device, whenever you need to. All of your account details are instantly synced across different apps. In other words, you can open a trade in the morning while eating breakfast using your tablet, for example. Later, after opening the desktop version of the program, continue your transactions using your laptop. And in the evening, close the transaction by logging into your account using the mobile app. All your operations will be visible to you and available for operation from any device.
The trading platform is your virtual stock exchange. Therefore, the choice of platform is an important issue for a trader. It is the availability of certain tools for trading or analysis that makes a difference in the outcome of a trade.
Pay attention to reliable trading programs offered by brokerage companies with a good business reputation and sufficient experience in the stock exchange.
Give preference to those that adhere to a policy of transparency. These platforms offer the opportunity for novice traders to learn by adding a "Training" section with video tutorials on investing. You will also be able to open a free demo account to practice testing the platform, allowing you to try trading without the risk of losing money.
The modern UAE brokerage market offers a good selection of trading platforms and the high level of competition in this area has led brokerage companies to constantly improve their programs. The new advanced trading platforms are not just an app on your device with the ability to buy or sell an asset.
An advanced trading platform is a powerful resource for online investing, providing traders with complete and up-to-date information on market conditions and current quotes, as well as many convenient tools for analyzing and automating trading processes.
The developers of advanced trading platforms took into account the slightest nuances of a trader's work, making the trading as convenient and comfortable as possible.
Perfect graphics, intuitive interface, flexible personal settings, system of necessary alerts, newsfeed, training courses, chat for traders, 24/7 online support - these are far from all advantages of advanced trading platforms.
Below we review the main features of advanced trading software.
Start with registration
Despite the technological sophistication and functionality, registration on advanced trading platforms is straightforward and does not require any special skills or technical knowledge.
All you have to do is visit the website of your broker of choice, activate the "register" option and then fill in a simple form. At the start it asks for a minimum set of details, such as your name and a valid email address. Once you register you will have full access to all the features of the trading platform, including demo account trials, video tutorials, analytics and information on quotes and market conditions.
To gain access to live trading and the ability to withdraw funds, you only need to complete a simple verification on the platform. To do so, follow the system's prompts and make a scanned copy of your ID card. Some platforms practice video verification - it is convenient and fast.
When you first log in to the platform you will be asked to open a free demo account; do not miss out on this opportunity. No matter how confident you are as a trader when you sign up, the new platform brings with it new things and new subtleties in investing, new approaches to trading. Therefore, at the initial stage, you should test yourself to make sure that you really understand everything with the help of a demo account. In a demo account you will be given a certain amount of dummy funds. You can trade this amount at your own discretion to see if your methods work or not. Of course, if they work, and you can see the profits accumulated on the demo account, then it is not realistic to withdraw these funds, because they are fictitious. But the possible loss will also not be real, and only then will it serve to teach you a lesson about the mistakes you make.
Advanced trading platforms offer a demo account that fully replicates the real account, so all of the quotes, functions and tools you will be able to practice from the demo account.
Trading from a Live Account
When you feel ready to invest real money, fund your account directly from the trading platform. To do so, click on the "Deposit" button and choose one of the funding options the system offers: either with a bank card or via a payment system.
Advanced trading platforms always offer several options for depositing your account, giving you the opportunity to choose the most convenient one. Reliable brokerage companies cooperate with well-known payment systems, so you should have no trouble activating your live account.
Funds are almost always credited instantly.
Advanced trading platforms allow everyone to get started by offering low minimum deposit limits. You can get started in online trading, even if your initial investment is only a few dollars.
You can usually withdraw your funds using the same payment system you use to fund your account.
The ability to trade in different financial markets
Advanced trading platforms allow you to trade in different financial markets, giving you access to a variety of relevant assets. Depending on your personal preference, you can trade cryptocurrencies or forex, binary options or equities. Choose one asset or mix and trade several - the choice is yours. You'll be able to track multiple trades at once, because advanced trading platforms allow you to open multiple trading rooms on your desktop at the same time, making multi-asset trading convenient.
Each type of financial market has its own peculiarities, which you should consider when developing your own trading strategy. Advanced trading platforms will offer you all the analytical tools you need, with these peculiarities in mind.
The most commonly traders choose the following assets:
- CFDs on stocks. Trading derivatives is essentially speculating on the value of the shares of global economic giants. Trade shares of Coca-Cola, Google and other successful companies from the comfort of your home;
- Binary Options. Trading binary options allows you to earn maximum profit with minimum investment and no time commitment;
- Crypto-currency. The cryptocurrency market attracts new opportunities. Traders today are calling cryptocurrency the currency of the new millennium, which is why so many traders are choosing to invest in this market;
- Currency. Trading currency pairs in the forex market is a classic of exchange trading. High volatility and the ability to trade virtually around the clock attract traders and make the currency market a popular financial market;
- ETF funds. Diversify your profits with a ready-made equity package in the form of an ETF fund;
- Invest in commodities (oil, gold).
Advanced trading platforms will provide you with complete and up-to-date information on the current state of each of your chosen markets, as well as economic calendars, an interactive chart of price quotations and a section with economic analysis from exchange trading experts.
Market analysis using advanced trading platforms
Investing always involves a certain risk of losing money in case of unsuccessful transactions.
However, investing is not a game of chance, but an activity that is based on principles and laws of the stock market and depends on many factors - economic, political, environmental and so on. Therefore, online exchange trading is not a guessing game, but a well-thought-out trading strategy, based on market analysis and personal trading experience.
Traders use both fundamental and technical analysis methods to anticipate the behavior of asset prices in the market.
As a rule, technical analysis methods are used for short-term and medium-term trading, fundamental analysis is good at reflecting market dynamics for a long time period, so it is used for long-term investing. But it all depends on the trader's preferences and tactics.
Advanced trading platforms are equally well equipped with tools for both analyses.
The technical analysis based on mathematical formulas developed from one assumption: the price movement dynamics is determined by the psychology of behavior of market participants, who under similar circumstances under the influence of human instincts - greed, herdiness, fear, etc. - behave in the same way, forming the supply and demand flows, as well as the degree of imbalance between them. This makes it possible to predict price movements. The platforms are equipped with special indicators, the use of which displays these patterns. Select the indicator you are looking for and it will be overlaid on the price chart of the asset. This will show you a clear picture of the market's condition, and will help you make the right investment.
Fundamental analysis is based on statistical data, so it analyses actual reports from companies or specific markets from previous periods, taking into account real numbers and indicators and future plans and prospects.
Traders who rely on methods of fundamental analysis make extensive use of the platform's economic calendar, forex calendar, market analysis, as well as following the news feed on the platform, which informs about all important current market events in a convenient format.
Tools for trading
Another feature of advanced trading platforms is the abundance of handy and useful trading tools.
Among the most commonly used are the stop orders and the multiplier.
Stop orders are defined as an instruction to automatically close a position when the price reaches a certain value for an asset. The two main types of stop orders are stop loss and take profit.
With a stop loss order you can set a minimum allowable price for the asset, or a lower limit for the transaction. This means that if the value of the asset falls below a certain level your trade will be automatically closed, thus avoiding too much loss from the transaction.
Take Profit gives you the opportunity to set the upper value of the price of the asset for the transaction, when it is reached, the transaction will be closed. This order helps to "catch" the profit at a predicted short-term jump in the price of the asset.
The multiplier option is a handy tool, the activation of which includes the action of leverage. There is no need to send a leverage request, just select the desired multiplier and activate it.
Leverage comes with the risk of increasing your loss in the event of an unsuccessful trade, so be careful when using it and make sure you understand the operation of this option before using it.
The convenient trading tools that an advanced trading platform offers make online investing a convenient and exciting process, and also protects your trades to a certain extent.
Other benefits of advanced trading platforms
Also, advanced platforms for online trading give you the opportunity to adapt the program interface for yourself. When choosing a trading platform, go to the "settings" section and check what settings are available. Advanced programs allow you to change the color scheme of the trading room background, the number of working windows displayed on the screen, the size and position of these windows, the types of chart display (candles, lines, bars, Heikin-Ashi), as well as customize keyboard shortcuts for quick execution of certain commands.
On advanced trading platforms, you will find a learning section with quality video tutorials. Studying video lessons, backed up by practical experience on a demo account, will help you quickly understand the principles of trading.
On advanced platforms, online chat is available to communicate with other market participants. The exchange of practical information, trading advice will be useful to every trader, especially a beginner.
Of course, the technical support service on such platforms is available 24/7 and it is possible to choose a convenient language of communication.
Following these characteristics, you can choose the best trading platform in the UAE and successfully start online trading.
Open a demo account today and try to evaluate the quality of the software yourself - it's completely free!