Lesson 3 – Discover the forex Trading platform

 

The platform
In this article we will see what they are and what they offer trading platforms to play in the bag from home via CFD. To start we have to have a trading platform, which will allow us to carry out all the operations necessary for the sale. To get a platform you can follow this very simple and quick path:

 

Now, for the demo account just need an email, because you do not go to work with real money but with virtual money for pure practice. When you want to start trading in real money, then you have to provide your data. These three points can change of order but there are in all brokers and for all platforms, so regardless of the broker you choose, to download or use online the trading platform you will necessarily have to cover all three of these Steps.

 

I downloaded the platform, and now?
Once you download the platform or open it on your browser and you are ready to use it, the practical part of this activity begins. First of all, we recommend to through every part of the trading platform in order to know all its features. Let’s take a practical example with the PLUS500 platform, which you can download for free and use both in demo and real version, depending on whether you only want to practice or negotiate with real money.

 

We are in the “Negotiate” tab (you can see it from the top of the same platform) in which the box is divided into 4 parts.

 

 

 

Available Financial instruments (first box on the top left)
Specific financial instruments (first box on the top right)
Account situation (second pane on left bottom)
Chart of the selected financial Instrument (second pane on the right at the bottom)
Flat-Plus500-int

 

Well, now Illustriamoli point by point.

 

1. Available Financial Instruments
Each trading platform first offers the ability to view all available financial instruments such as stocks, indexes, exchanges (or currencies), ETFs and Commodities. As you can see from the photo, each category can have subcategories (eg. major and secondary changes, where the primary are the most important ones). As far as actions are concerned, they are even divided by countries and for each country in alphabetical order. Therefore, not only can we choose between Italy, Usa, Germany, Hong Kong etc. But we can also find a certain title more easily because it is catalogued in alphabetical urines. In our case, we have selected Apple shares, choosing in the US subcategory of the Actions category (as we can see from the main box on the right).

 

2. Specific financial Instruments
As we’ve seen in step 1, once you’ve selected a financial instrument, this will appear highlighted in the top-right pane. It will be highlighted and present some data concerning it:

 

Name: The name of the selected title or financial instrument (e.g. Apple)
Selling Price: The price at which you can sell the stock at that particular moment
Purchase price: Price at which you can buy the title at that particular moment
Change: The percentage change from the start of the trading session
High/Low values: The highest and lowest value affected by the price of the title considered
Preferences buttons: You can mark the title as a favorite and set alerts (e.g. an “alarm” that will allow you to be notified if the price of a stock will drop to a value you set).
Details: All details for title trading including minimum amount of purchase or sale, initial margin and retention margin (very important elements that we will see in the lesson on margins in CFD trading)
Flat-Plus500-1b

 

Available: It consists of the balance available on your account
Equity: is given by your available balance added to the initial margins engaged in the positions
Retention margin: a percentage required to maintain an open position
Profit/loss: general profits or losses produced by your operations
4. Chart of the selected financial instrument
We come to the last element of the platform we have taken into account or the chart relevant to the price of the selected financial instrument. To create a chart, we refer you to the lesson on CFD charts. As you can see in the center bar there is a dropdown menu that allows you to select the time interval between one update and another (eg. 1 minute will mean that the graph is Agios

 

 

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