Photo from Unsplash
Originally Posted On: https://www.newstrail.com/how-to-start-trading-from-your-browser-without-a-trading-platform/
Trading can be a rewarding activity. You can trade any type of asset; stocks, bonds, commodities, foreign exchange, etc. You can even trade derivatives based on these types of assets.
Here are some stunning facts; the value of global equity trading worldwide was $41 trillion as of 2021, the global fixed income (bond) market is worth $127 trillion, and the global commodities market is worth over $4 trillion. Toss in other types of assets, and it should be clear that there’s a massive opportunity in trading. However, there are critical things you need to trade any type of asset, and the first is a platform that lets you trade with ease.
There are many trading apps that you can download on your mobile device or desktop and start buying or selling assets with ease. There are also web-based trading platforms that make things easier. With a web-based platform, you don’t need to download any app that takes up space on your device. You can simply visit the website, log in with the correct credentials, and start trading directly from your browser.
Web-based trading platforms are the new trend because they make things easier for traders. People no longer want to download apps that occupy considerable space in their devices when they can trade directly from their browsers. Besides, managing trading apps can be a pain for people with multiple devices, so they prefer trading from their web browsers.
Other reasons why people prefer web-based trading platforms over app-based ones include;
- You can access the platform from any device, including guest devices, ensuring convenience and flexibility. This comes in handy if your device is down due to technical glitches.
- Web-based platforms don’t use as many computing resources as trading apps on desktops or mobile phones. The developers that build web-based platforms know that they’re constrained within a browser, so they optimize their platform to operate as efficiently as possible with fewer computing resources.
- The SSL security that web-based trading platforms offer is pretty good.
- It removes the need for frequent app updates.
- More reliable, as there’s a lesser chance that activity will cause your web browser to crash. Some resource-heavy apps are prone to frequent crashing.
How to Pick a Suitable Web-Based Trading Platform
There are important things to consider when choosing a trading platform, and they include;
- Fees/Commissions
Different platforms have different fee structures, so you should find one whose fees you can afford. Some platforms earn revenue by taking commissions on every trade (usually between 1% and 5%), while some charge users a flat fee for every trade. Most trading platforms list their trading fees on their official website, so it should be easy to search and compare different ones.
Note that some platforms have “hidden” fees in the form of a spread, a small addition to the actual price of an asset. Look out for this type of fee when choosing your trading platform.
- Supported Assets
All platforms don’t let users trade the same assets. Some platforms specialize in stocks, bonds, commodities, and so on, while some offer different types of assets in one platform. You should know what type of assets you want to trade beforehand and look for a web-based platform that supports them.
Some platforms offer multiple types of assets but with geographical limits. For instance, a website might let users trade American and European stocks but not Chinese stocks. Look out for such geographical asset limits when choosing a trading platform.
- Location/Jurisdiction
Trading platforms are highly regulated across the world. Different countries have different laws that any trading platform serving their residents must adhere to. For instance, the US has the Bank Secrecy Act which requires trading platforms to keep records of daily transactions exceeding $10,000 and report any suspicious activity. Any platform not complying with this law can’t serve U.S. residents.
Look for a platform that meets the regulatory requirements of your jurisdiction. This way, you won’t have any problems trading in the long run. You definitely don’t want to see your assets frozen up because your broker failed to comply with regulations.
- Security
Security is paramount for any platform that facilitates asset trading because hackers looking for a payday frequently target such platforms. An ideal platform should offer adequate security features like SSL encryption, data encryption, and two-factor authentication. These features help protect your assets from theft, so don’t bargain in this area.
Also, choose a platform without a history of security flaws and mishaps. Past behavior can be a good indicator of future behavior. You can check user reviews or news events to see if a platform has ever been compromised.
- Flexibility
Look for a web-based platform you can use to trade without downloading any app on your device. It’s more convenient to trade this way, and web platforms are usually better optimized for performance compared to native apps.
- Test the platform
Many brokers allow users to create demo accounts to have a feel of what real trading will be like. You can take advantage of demo accounts to extensively test the features of any trading platform before deciding if you’ll settle with it or not. However, some platforms lock their advanced features for demo traders and only offer the basic ones.
How To Start Trading Via Web Terminal
This is a trading terminal that lets you buy and sell different types of assets, including foreign exchange, stocks, and futures. You can trade through the MetaTrader 5 web terminal with any device including Apple and Android without any inconvenience. Just head to the website, complete the registration process, fund your account, and you’re good to go.
MetaQuotes, the company behind this platform, released an updated version of it this October. This latest version brought new upgrades including a more simplified interface, price data subscriptions, and economic calendar events displayed on charts.
Summary
Trading via a web browser is more convenient than using a PC or mobile app. You can access a web-based platform on any device including when yours is currently not available. Web-based platforms are also better optimized for performance than apps. You can follow the tips we mentioned to pick a trading platform that’ll suit your needs. We also provided examples of some of the best web-based platforms that you can use; these platforms offer great features that’ll likely meet your needs.
