Online trading platforms have facilitated the investment, with its lower commissions and flexibility.
Different platforms boast different qualities and features. Live quotes, superior charting tools, in-depth market watch, and adaptable trading interface, are some of the highlights, which make a platform outstanding.
With our thorough research and testing, here are the 3 most widely used online trading platforms we recommend and their pros and cons.
NO.1 E-Trade, Best for Equity & option Trading
If you are looking for a place just to trade equity, bonds or ETF, E-trade might be the best choice overall.
1. Safety & Cost-efficiency
As the oldest online brokerage founded in 1982, E-Trade has a long history of supporting both newcomers and experts alike. it charges only $6.95 for stock trades, not cheapest, but However, some discounts apply for high volume traders where equity and index options drop to $4.95 per trade.
2. Ease of Use
E-Trade shines with its Power E*TRADE platform, which has great tools for options traders
* Charting
E*TRADE’s charting engine is powered by Chart IQ, an excellent third-party provider of HTML 5 charts, which integrated 33 drawing tools and over 100 technical indicators.
However, it does NOT support customized charting sets, quite suitable for beginners.
* E-Trade Pro
E-Trade Pro is designed for frequent traders, invisible to users unless they meet the requirements including placing at least 30 stock or options trades per quarter or having a portfolio balance of $250,000.
Once activated, the desktop platform is sleek and professional, including
1) Over 20 trading tools
2) A range of price types
3) 118 technical indicators
we summarize its pros and cons as below
|
Pros |
Cons |
|
Great tool for equity, option traders |
Margin interest rate very high |
|
Desirable fee with a discount. |
Web platform with no advanced tools. |
|
Third-party research offered |
You may have to use more than one platform to find all the tools you’d like to use. |
NO.2 BEX500, Best for Crypto-based CFD trading
Established in 2018, BEX500 is voted as “2019 BEST-Used Crypto Exchange” by a wide range of crypto leverage traders. It offers professional crypto-based CFD including cryptocurrency, Commodity and Forex.
1. Superior charting tool
Powered by Trading View, BEX500 charting engine offers more than 40 trading tools including customizable features and over 100 indicators for you to plan and execute trading strategies.
Moving averages, Pivot, Resistance, Support Levels and Market Breadth can be analyzed.
Unlike E-Trade, all users can access to their professional trading interface
2. Trading interface intuitively designed for new-comer & experts
What distinguishes BEX500 from other exchanges is its simplified ordering widget.
Traders, like hunters, eager to pinpoint the exact moment to pull the trigger to maximize his profits. Therefore, the ordering widget should be simplified to facilitate distinguishes trading.
As in BEX500, 3 steps only, you can place the order within a heartbeat. 2 features should be highlighted here.
1) Automatically Recognized Order
No longer need to select “Buy Limit, Buy Stop, Sell Limit, Sell Stop”, BEX500 automatically recognizes the order. For example, the current market price is at 1000, if you place a “buy order” at 2000, BEX500 will recognize it as “Buy Limit”, take the order, and wait for its execution.
2) Stop-order Simplified
You can place the order first and then select your order to set “stop-loss” or “take-profit”.
For professional traders, you can also resort to MetaTrader 5. What surprises me is that BEX500 is the first crypto exchange that applies MT5.
3. 200x leverage
100x leverage by default available to users in all products including cryptocurrency, forex and commodity. 200x leverage can be granted upon application.
However, both profits and risks can be amplified with 100x leverage.
Stay cautious.
Although suitable for the experienced and green-hands, BEX500 has its pros and cons.
|
Pros |
Cons |
|
24/7 trading, all products on 1 platform |
Not the cheapest trading fees |
|
Advanced platform and simplified trading widgets |
No fiat currency supported. BTC/USDT required |
|
Up to 200x leverage to maximize the profits (optional) |
|
|
MetaTrader 5 available |
|
NO.3 Plus500, Best for Commodity Leverage Trading
1. Wide Range of Forex & Commodity Products
Plus500, like BEX500, is also a prestigious CFD platform. Although it might be dwarfed in the usability of the trading platform by BEX500, it does offer up to 2000+ kinds of Forex and Commodity CFD products.
If you are interested only in Forex trading in fiat currency, Plus500 could be a good choice, especially for beginners.
2. Simplified Charting
Among all 3 recommendations, Plus500 has the most simplified charting, which can be attractive at first glance.
However, limitations including no enough amount of available indicators can be a problem for professionals, especially for algorithmic trading.
|
Pros |
Cons |
|
Up to 2000+ products available |
Lack of trading education |
|
Reasonable commissions |
Lack of advanced trading platform |
|
|
Buy/Sell Spreads |
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