Explore our Online Trading Platforms
A trading platform, like our in-house built CloudTrade system, is simply a piece of software that has been developed so that traders can be linked to the financial markets via a CFD broker. Our CloudTrade trading platform & App has been developed over several years, and has many sources of information feed into the systems back-end so that our traders can see live pricing, trading charts, order types, account history, high/low figures from the day – plus much much more. At TradeDirect365, we offer two trading platforms, CloudTrade and MT4;
MT4 – this is trading software that can be downloaded directly to your PC, Mac or Mobile Applications. This software is compatible with Windows, Mac and Linux operating systems.
CloudTrade – this is our web-based trading software, which means you can only access this trading platform when you have internet access. This is our most popular trading platform.
Finding the best online trading platform that suits your individual trading requirements may sound easy, but it’s not. With an ever-growing number of brokers opening up for business, the number of trading platforms available continues to grow and this can cause headaches for retail traders who can become overwhelmed and confused with the amount of choice available.
Each trading platform is different – different benefits, functionalities, pricing, look & feel and so on. So each trader must conduct their research and find a platform that appeals to them and their trading needs. Here are a few important considerations to think about before opening a trading account;
Put simply; never open an account with a broker that is not ASIC-Regulated (or the equivalent of ASIC if you live outside of Australia). ASIC’s role is to “enforce and regulate company and financial services laws to protect Australian consumers, investors and creditors”.
Opening an account with a regulated broker has many benefits, including that a CFD provider will be closely monitored by the countries’ governing regulator and they are required to work within a certain framework, ensuring brokers run a business in accordance with the local laws and regulations.
TradeDirect365 is a trading name of Finsa Pty Limited (ACN 158 065 635; AFSL No. 422661).
How much a broker charges you to trade on their trading platform is another important consideration. There is nothing worse than finding your ideal trading platform only to discover that the broker charges extortionate fees to trade with them. There are a few common charges, however there are also some other unnecessary costs that brokers try to slip in – we’ve outlined a few below.
The spread is the difference between the bid and offer price, and is a very common trading cost so don’t be alarmed. The wider the spread, the more expensive it is to trade. The tighter the spread, the cheaper it is to trade. Please check a broker’s spreads before opening an account. Also check whether the spreads are fixed or variable as this is important too. TradeDirect365 is one of the cheapest CFD broker’s to trade with and we offer fixed spreads. We’d recommend reading this article – How to Tell if Your CFD Broker is Ripping You Off – to get a better feel for trading costs within the industry and what to watch out for.
Some trading platforms will charge a commission fee when you open a trade, although these are usually only applied to stock trades on CFD platforms. Typically, trades on Indices, FX, commodities and cryptocurrencies etc. will not incur a commission, rather the broker will only charge you the spread. MT4 may vary, as some brokers do charge commission to trade non-stock assets on their MT4 platforms. Please check before opening an account.
This is another common charge associated with online trading. It is a financing adjustment made to your account when an open trade is held open overnight.
Some brokers are experts at adding on unnecessary fees – here are couple to keep your eye out for; inactivity fees, account maintenance fees, trading software or platform fees. TD365 does not charge any of these!
You need to ensure that a CFD broker has the markets/ instruments that you wish to trade on their platform before opening an account, otherwise they won’t be any good to you. Some brokers offer every market under the sun, while others focus on just a select few. At TradeDirect365, we offer a wide range of tradeable markets – including all the major indices, FX pairs, commodities, stocks and cryptocurrencies. You can see our full product list here or see separate asset classes by clicking on the MARKETS TO TRADE tab at the top of the page.
You need to test out a broker’s trading platform before you commit to it and the best way to do that is to open a demo account with them to explore their platform’s capabilities, ease of use and functionality. Also, the general look & feel of a trading platform is crucial too – do you want to log in to a horrible-looking, complicated platform everyday to place or check trades? Probably not. Then there’s the Mobile apps to deal with… Please check these too before you commit to a live trading account as, again, everything else might be perfect but if the App (or trading platform) isn’t up to your liking, you’ll need to go elsewhere.
TradeDirect365 offers clients an opportunity to test our platform before opening a live account by trialing our one-click demo;