One of the main challenges faced by foreign exchange (FX) derivatives traders today is the lack of continuity across different platforms.
Forex traders have the luxury of switching brokers in search of more benefits, the change being a fuss-free and smooth process due to the convenience of remaining on the same platform – the MetaTrader4 (MT4). This isn’t always the case when you trade FX derivatives, as different brokers provide different web-based platforms that are each catered to trading derivatives. As a result, traders have to face a learning curve and adapt to different interfaces in the event they wish to switch brokers.
Fortunately, with Broctagon Prime’s proprietary technology that is the MT4 FX derivatives plugin, it is now a hassle-free experience. This innovative technology allows traders to access FX derivatives and lots of other financial instruments on the widely-used MT4 platform. With this, it also opens an array of trading tools that the MT4 boasts, which FX derivatives traders can now utilize.
Here are some of the FX derivatives trading tools available on the platform that are essential for traders to succeed in making trades:
MT4 Charts: The MetaTrader 4 (MT4) platform is used by majority of traders around the world, making it an essential platform for brokers to offer in order to convert and retain clients. Brokerage firms can capitalize on the existing reputation and myriad of benefits of the MT4, whose status as the industry standard, in addition to its intuitive user features, have kept it the preferred choice for traders. The cutting-edge platform designed for forex trading can now also allow users to trade FX derivatives via an easy-to-use plugin. The trader only has to select ‘up’ or ‘down’, with no need to calculate the distance of price movements or margin requirements.
Controlled Risk: Trading always carries a certain level of risk. However, in trading FX derivatives, brokerages can boost the feeling of security for their clients by giving them tools such as fixed payouts. These predetermined rates allow clients to calculate their profit and loss ahead of time, thus being able to manage their funds efficiently and have the confidence to trade freely.
Technical Indicators: Technical analysis is an important aspect of a successful trade. With a massive range of information-loaded indicators available on the platform, traders can make more calculated trade choices. When clients have all of the information that they need, this results in higher confidence levels and thus larger trading volumes.
Automated Trading: Other tools such as social trading and signal services bring traders together into a community, where it’s easy to get another person’s opinion on trade decisions. However, with automatic trading made available on PCs, laptops and other mobile devices, it also facilitates on-the-go trading and takes away any emotionally-driven decisions, allowing trades to be made based on logical strategies and analysis.
Economic Calendars: It can be used as a standalone or additional tool to inform traders about fundamental events that might affect price movement. Traders can then take advantage of high volatility periods – making their trading volume much bigger.
Aside from an intuitive platform, a reliable broker with good trading conditions is an asset that every trader looks for. By giving traders the ideal trading environment with exceptional support as well as competitive payout rates, clients will definitely choose to stay with brokers who make them feel safe and supported.
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