What are the Best Electronic Trading Platforms?

In today’s hectic financial climate, investors from all different markets are looking at the best electronic trading platforms out there to gain a competitive advantage. Electronic trading platforms are computer systems that allow traders to digitally perform trades without the need for human intervention in the process. Each brokerage offers its own trading platform, and in some instances, a single brokerage will offer users many different platform options.

The problem most investors run into when searching for the best electronic trading platforms is the sheer number of them available. We have weeded through a large number of online trading sites and have narrowed it down to a few of the best choices for the trading of stocks, options, futures, and Forex.

TD Ameritrade’s Thinkorswim

Thinkorswim, by TD Ameritrade, is one of the internet’s most advanced electronic trading platforms. By providing you with a seemingly endless supply of financial data and analytics, this platform allows you to make research, sound decisions across several different markets. With low commissions and good service, Thinkorswim has just one drawback – it is so complex and full of data that it can take some time to learn to accurately use all of the options. Once you gain mastery over the platform though, Thinkorswim becomes one of the most powerful tools that you will find

eToro

In the Forex world, one of the most prominent players is eToro. Registered out of Cyprus, eToro is oftentimes considered to be tailored towards the new to intermediate Forex investor. This company offers investors three different platforms, their WebTrader, OpenBook, and the Mobile Trading Platform. The OpenBook platform is a unique concept that allows traders to follow other traders and see their trades, thus actively integrating social networking into the financial market.  By doing careful research, investors can find other traders with a great financial track record and study their actions to develop their own trading strategies.

Charles Schwab

As one of the leading players in the trading of stocks, futures, and binary options, Charles Schwab offers an ideal haven for investors of all shapes and sizes. With stock trades running $9 – $13, depending on your volume, and options costing $9 + $0.75 per contract, Charles Schwab offers an affordable option with high-quality service and financial information. The electronic trading platform from Charles Schwab allows you to trade numerous different financial markets and receive information, training, and support 24/7.

Scottrade’s Trading Platform

For newer investors looking for their first electronic trading platform, Scottrade is often the ideal choice. The company currently offers a few different platforms, such as Scottrade, Scottrade, and also Scottrade Elite. Each platform offers more and more data and analytical tools than its predecessor. Scottrade is well known for offering top-notch training and education videos perfect for investors of all levels. Nearly all trades through their platforms are $7, making them one of the most affordable electronic trading platforms in the market. There are also over 400 retail locations, so users of Scottrade’s electronic trading platforms can easily meet with an advisor in person if needed.

When choosing an electronic trading platform, no matter if you are planning to trade stocks, bonds, options, or commodities, it is important to look at all of your options. Depending on your needs, there are countless different platforms out there. If you are looking for stock trading, then consider TD Ameritrade, Scottrade, and Charles Schwab. Forex traders would be wise to pay attention to eToro, considered by many to be the best platform in that market. No matter where you decide to trade, make sure to pay attention to details to ensure that you know exactly what you are signing up for.

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