The Forex Platforms are types of software which, on account of the number of services offered, allow the speculator to draw on a series of crucial information that will allow them to closely monitor the currency market and become profitable whilst doing so. For this reason, the Broker who is responsible must be reliable, know what platforms are available and what conditions they are provided under.
Firstly, if you don’t have a good command of English, it is recommended that you identify the trading platforms that also cover the Italian language. It is only through a perfect understanding of the rules of contract, tenders and different information that will enable you to interact with precision and punctuality in the Currency Market, therefore avoiding any misunderstandings or losing money. It should be stressed that to find a platform in the Italian language, an Italian Broker isn’t necessary. It is important that a Broker must have their offices registered in both Zurich and London. A Broker must also make platforms available in different languages so that multilingual employees can provide assistance to foreign customers. In Italy, it is possible to operate the Forex trading platforms by relying on some major banks. In any case, take into account the active platforms in the European Union which allows the trader to determine whether or not these meet the ‘MiFID’ (Markets in Financial Instruments Directive) and that they possess the authorization issued by the appropriate regulatory authorities in the country that a Broker’s registered office is in.
A good Broker also allows the activity of ‘Paper Trading’. Next to the official trading platform, it is necessary to present a demo platform in order to approach the best practice of the Forex market. This therefore gains experience in the field and results in a Broker having all of the tools needed in order to operate real trading operations but without any real risks.
There are many features to consider – the margin must swing between 1% and 4% and the spread (which indicates the difference between supply and demand and corresponds to the gain of the Broker) must be low so that it moves between 1 and 4 PIPS (percentage in point). No payment must be used for the platforms but it is useful to check the minimum amount that’s required to open an account plus any rollover fees. It is recommended that you mustn’t be attracted by those who offer the best bonus entry because it may be a bait that hides scams or subsequent costs.
Finally, it is necessary to control the costs to the Committee on non-standard contracts. Such arrangements are allowed to deposit money into a Forex account and the transfer of the gain on your account, which is particularly important if a Broker is based abroad.