How to Compare Forex Platforms – costs and execution

Forex trading platform is a name associated with software whose purpose is to create a link between brokers and traders. The most important decision for a trader is to choose a trading platform that satisfies his needs and works according to his trading style.

Trading platform costs
Majorities of the forex trading platforms are free of cost. Along with that, a demo platform is being provided from the client that can be downloaded. The purpose of the demo is to give the trader a test drive, so they can construct their strategies.

Execution of orders
The execution of orders becomes very easy with the help of forex trading platforms. A trader will get to know this once he is done with the evaluation of the trading platforms. Since, the forex market remains open for 24/7, it is important to have a platform that can easily do your job while you are sleeping. For instance, most of the trading platforms enable to enter a market position at a specific time to place a stop loss.

Capabilities
There is another handy function, which may be provided by some brokers is the back test different strategies. To access this type of service, the use of historical is required. Some platforms offers this exclusive function with a little money subscription fee.