• Capability to display real-time quotes of currency exchange rate.
• Account summaries with indicators on available balance, profit and loss figures, locked margins, available margins, and open positions.
There are two types of platforms: web-based platforms usually programmed in Java and a client platform that can be installed locally. It is up to you what type of platform to choose.
• The broker’s web site hosts the web based platform. You will not install anything to your computer. You can also use the platform and go to your account from any computer connected to the Internet.
• A client platform should be installed in your computer. You can only use the platform from your computer unless you have several clients installed on different computers.
The downloadable client software is faster but will rely on the systems requirements of your computer. Most platforms are compatible only on Windows operating system.
If you are a Mac user, you cannot use the client software. You will be forced to use the web based platform of the broker. The web based platform will run on any computer because you will only use your Internet browser to access your account.
For most brokers, they prefer Java or web based platform because they think it would be safer. This platform will be less vulnerable to hacks and virus attacks unlike the client trading software.
However, you still have to open a demo account in order to test the different platforms of the broker before you deposit money in your real account.
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