Forex trading is very popular in Australia. However, before you start working with a broker, it is important that you assess its trading platform. Brokers in Australia offer both proprietary platforms and popular trading platforms, but with certain improvements. Traders Union analysts have compiled the rating of the 12 Best Trading Platforms in Australia 2022. The article looks into the most reliable brokers in Australia with functional trading platforms.
Things to consider when choosing a trading platform
It is recommended that you evaluate a trading platform before deciding to work on it. There are several criteria Traders Union analysts use to assess the platforms, including, but not limited to, the following:
- Stability. It is important that the platform operates smoothly, the quotes are shown correctly, there are no slippages and the orders are executed in a timely manner.
- Security. A platform can employ various methods of security, like a separate username and password, two-factor authentication, etc.
- Number of instruments for technical analysis. Some platforms offer more than 50 instruments. You need to choose based on your strategy, but the general concept is the more instruments the better.
- Charts. It is important to assess the interface and customization options. The option of opening several charts in different windows can be an advantage.
- Usability. The platform should be user-friendly, with an option of customization of different windows.
Furthermore, it is important to assess the broker as well. The broker must be reliable, operating under the license of the Australian financial regulator (ASIC). It is also important to consider the number of instruments available for trading, the fees, the response of the customer support and other factors.
What are the most popular platforms in Australia?
Brokers from Australia offer more than 20 different types of trading platforms. The top 12 include the following:
- eToro.
- Interactive Brokers.
- IG Markets.
- TastyWorks.
- ThinkMarkets.
- Stake.
- TradeStation.
- CMC Markets.
- IC Markets.
- Saxo Bank.
- Swissquote.
- Questrade.
These trading platforms are distinguished by high reliability, excellent analysis features and also a user-friendly interface.
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