It is a question that affects many people, especially from the 2020-year of the coronavirus (where too many people have started to make investment), the question is: what are the best platforms and tools for trading?
In this article I will not only talk about trading platforms but about the entire ecosystem that revolves around the world stock exchanges, I remember that what I will write is based on my personal experience and the tests I have done over the years.
I do not advertise to anyone and especially those who read this article must know that they will not find “banners” in which I invite you to choose one platform rather than another. (I write out of passion not to sell courses or magic formulas).
You have to distinguish in the world of trading platforms that are completely free ,and I can guarantee you that you have to stay very far away from those who offer everything for free, while paid trading platforms are the best and if you try them you will understand why.
An important element is the data in real time or late, those who want to trade must only do with real time data because if one day should come a flash crash on the market (I have doubts about who can really save themselves unfortunately) or a bad news like Covid you must be able to close the position immediately.
Important, each country has its own rules for example European citizens can not trade on some American platforms because you have to be resident in the United States, another point to consider is where actually the platforms have their operating headquarters.
I received several months ago users who used trading platforms in tax havens and then could not review their money so it is essential to check these small details on the sites of the Security of Exchange or in Italy Consob.
I start to make the names of the platforms and I will write about some details that may be useful “if” you decide one day to open an account with that broker.
The most beautiful, most complete platform for investing on stocks, futures and options is Tradestation. Once you have done the registration procedure with all the relevant documents you have the possibility to have the demo for free forever, believe me it is a nice advantage because other trading platforms give a trial period of 15 days or 1 month.
The support is in English because the company is American (Florida), there are so many videos and webinars on YouTube where you can learn how to trade and take advantage of all the features.
Another trading platform that I really like is Thinkorswim, it was bought by Ameritrade which another very interesting broker though for people residing in the United States.
Interactive Brokers could not miss the giant no. 1 in the world, even if the interface is very professional and not very user friendly,it is a platform with a free demo where you can do trading all financial instruments and is one of the few in the world that lets you do spread trading on the commodity.
In Italy the best platforms are WeBank, Directa Sim and Bink Bank in relation to quality and price, WeBank is very interesting for traders who make options and futures, has lower prices and assistance is very fast. The data that feeds the WeBank platform is the best in my experience.
Now I want to make a list with different companies based on offers for example technical analysis software and operations on different financial instruments.
Real time data: Bloomberg Professional Service, Metastock Xenith, Thomson Reuters Eikon, CQG.
Technical analysis platforms: Tradingview, Tradestation, StockCharts, Visual Trader, NinjaTrader, Metastock
Trading system platforms: Tradestation, Metastock Pro, VectorVest 7
Mobile applications: Interactive Brokers, Tradestation, Directa Sim, Tradingview
Platform to use artificial intelligence: NeuroShell Trader, AIQ Systems, OmniTrader
I didn’t mention Bloomberg, Symphony.com Goldman Sachs, Money.net, Thomson Reuters not because I do not know the existence of it in fact I work every day with some of the above, but the reason is because they are highly specialized platforms, expensive and not very user friendly for those who do not have the habit of making financial markets a profession.
I hope I have intrigued those who have come to this point, maybe some of you will already be looking for the platform, I can guarantee that those indicated above are “in my experience” the best.
Good trading at all