Weekly Perspectives - Trading Essentials: Choosing The Right Broker and Charting Platform

Trading Essentials: Lesson Of The Week: Choosing The Right Broker and Charting Platform

This month’s trading theme is "Trading Essentials" and in this week’s lesson we’re going to cover the considerations for choosing the right broker and charting platform.

Choosing the right broker and charting software is probably one of the most important decisions you can make when you first start trading.

In this short video we will discuss the 5 main things you want to consider when deciding on a broker platform.

In summary they are:

  • Price
  • Margin requirements
  • Speed
  • Service & Support
  • Reliability

As it pertains to charting platforms, consider the following criteria:

  • Features
  • Market data access
  • Price
  • Hardware requirements
  • Stability
  • Portability

Btw I often get asked which brokers and charting platforms I would recommend.
The answer is always it depends.

For instance because I am primarily trade futures and NA equities intraday and swing trade stocks, I personally use Interactive Brokers (for futures) andQuestrade (for stocks).

A lot of traders in the Montreal Traders community use these same brokers, andOanda is popular with Forex traders.

As for charting I use a combination of Amibroker andTradingView.

Now it’s time for your feedback.
What broker and charting platform do you currently use?

Leave us your feedback in the comments section below!

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Reminder - April Traders Meetup - Trading Essentials: Trading Plans and Trading Rituals For Success

This month's meetup is nearly at capacity and it's looking like it will be our largest turnout ever!

We only have a capacity of 50 seats and they're nearly gone, so RSVP now before seats run out.

This month's meetup will be held on April 18 from 7-10pm at @ Diablos BBQ Smokehouse Restaurant.

Head on over to our Meetup page for more details on the presentations and the evening's logistics.

Happy trading!
Houston
PS - Don't forget to join us on our Facebook Group and exchange trading ideas between meetups.

 

 

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