Reviews and test of Trading Tools for investors
On this page, we show you the reviews of the best trading tools for investors and beginners. That includes:
- Tracking tools
- News platforms
- Performance paid programs
Software and trading platforms
When it comes to online trading you will need a trading software where you place your orders in the market and get financial quotes from your broker. Software is provided by the broker or can be purchased and then connected to your broker. Most brokers offer you a free version of a trading platform that is invented by themselves or white-label.
On our website, we have tested different software and present them to our audience. If you are a beginner you may need not all functions for investing like professional traders. Often it is depending on your trading style and method which software you will need. For example, a trader who is trading scalping trades via the order book will need professional trading software which is different from traders who only want to invest long-term into the financial markets
But overall, we can say that it is possible to make money with each type of software. The most important thing you will need is a buy and sell button.
In our detailed reviews, we show you every feature and function of the trading platforms. A good trading platform is important as a good broker. If you got a very cheap and good broker but the trading platform is looking like it is from the 80s and has limited features, it is not an advantage for you to use this broker.
Some platforms are limited to certain devices. For example, the popular software MetaTrader can be used by your web browser, mobile phone, and desktop. You can use this software with any device. On the other side, software like ATAS is only available via your desktop computer because this software needs a lot of computing capacity.
Nowadays, everything goes mobile. You can trade all markets with your mobile phone if you choose the right broker and platform. Most platforms offer you professional tools for analyzing the markets even in the mobile app. Use indicators, technical analysis, or market news to trade with your mobile phone. Another advantage is that you can react directly if something happens. We are living in a fast living world where every second is important to use. For example, speeches of politicians can move the financial markets very fast. You should look after it. With a mobile app, you get access to the markets 24/7 where you have an internet connection.
Important points to look after when choosing a trading software
We are professional traders with many years of experience in trading. By choosing a trading software we check these points for you on our website:
- Compatibility with devices
- Markets to trade
- Analysis tools
- Portfolio management
- Oder types
- Support and service
A forum is a place on the internet for meeting people with the same interests as yourself. We have tested a lot of different financial forums and we are presenting them on our website. Get a good overview of the offers and functions of the forums.
With tracking tools, you can show your own success to the public. A lot of people want to see real results in trading which are not manipulative. For example, you want to show your audience that you can trade profitably. It can be to getting hired as a professional trader or to get trust as a trading coach.
Tools like myfxbook.com are tracking your performance of each trade on a public platform. We have tested these tools and show them to you on our website.
News platforms are also important trading tools for every investor. Trading without any news of the financial markets will be very hard because the news is moving the market. There is a difference between fundamental news and direct news, but both are very important. On the internet, you will find a lot of different news platforms for financial news. We have reviewed them for you and present you with the details about them.
It is hard for beginners to find the right information about the markets. With our reviews of the news platform, you will learn about to use this powerful information very quickly. Every day there are published news by politicians or institutes. They often move the market very hard. The first step is to understand the economic calendar. Especially for day trading, it is very important to look after it. The economic calendar shows you the exact news events and time for it. You can check it out for fundamental news.
Short-term and even Long-term investors should have a look at market news every day. For example, if you are trading oil and you have open positions in this asset, you should know what’s going on around the world and which factors affect the oil price. A news platform can help you with that.
Performance paid programs
Performance paid programs are a new trend in the trading industries. There are different companies that offer to trade with borrowed capital. The trader has to pay a fixed fee and do a test or tutorial to get access to the capital. You have shown the company that you make constant profits. The company will give you access to much more capital if you succeed. For example, some companies offer traders to trade a $ 500,000 account.
We also tested these programs for you. From our experiences, it is very hard to be successful in these programs. We think only 1% of all traders can achieve it because you have to be very good at it and make constant profits. If you making small mistakes you are out and not qualified.
Overall, it is a good way to get access to more capital if you are a profitable trader. Some good traders can not afford a $ 100,000 trading account. Then you should choose a performance paid program by a company of your choice. On our website, we present you with the best programs.
See the reviews of the best trading tools:
Last Updated on March 29, 2022 by Andre Witzel