How to Choose the Best Trading Platform in 2022
Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.
It is quite uncommon to have a short term trading assets platform like TurboXBT, with a complete suite of features bordering on giving users instant profits on their trades. In reality, there are numerous trading platforms out there with many more currently being rolled out this year, and making a choice of which to trade with is a daunting task that every trader must consider seriously.
Before an exploration of the key factors to take note of when choosing the best trading platform in 2022 is made, let us explore the diverse kinds of trading platforms around today.
The Different Types of Trading Platform
The evolution of digital assets trading has paved the way for a number of innovative trading platforms today. Some of these include;
- Synthetic Assets Trading platforms
Synthetic assets trading platforms are exchanges dedicated to virtual assets that track the exact prices of real world assets. TurboXBT is a prominent name in this regard.
- Derivatives Exchanges: These are platforms that are mostly defined by the nature of the products they offer than by the timing of the initiated transactions. Examples of derivatives trading include Futures Contracts, Options, and Swaps and prominent platforms for these include the Chicago Mercantile Exchange and FTX Derivatives Exchange.
- Forex Brokerages:
There are also trading platforms dedicated to the trading of foreign exchange currencies such as the USD/GBP, or the JPY/USD pairs respectively.
While there are many more specialized trading platforms with most of them catering to commodities like precious metals, crude oil and more, these platforms are broadly categorized into two, namely;
- Short term trading platforms are trading outfits like TurboXBT where digital assets trading occurs or spans a few seconds and ends in just a matter of minutes. Traders get in and out of their trading positions in a relatively short period of time. Just like TurboXBT, each of the aforementioned specialized trading products is infused into the platform, making it one of the most robust exchanges around today.
- Long term trading platforms such as centralized crypto exchanges where users can enter a trade and stay therein for as long as they wish.
With these established, let us examine the major factors that users should watch out for when researching a platform to pitch tents with.
Factors that Defines a Good Trading Platform
- Security: While there are a few crucial factors to note, security is a key factor that must be considered before choosing a platform to trade with.
- Ease of Use and Product Diversity: This is an especially crucial factor for first time users as ease of use is crucial to make them adapt to the trading platform and ecosystem in general.
- Profitability and Trading Resources: the best platforms are those with impressive risk-reward ratios. This must balance out in order to make the entire trading effort worth the traders’ while.
Security
Questions like data security, asset security and related concerns are expected to remain at the forefront of a user’s mind when exploring a series of trading platforms to pitch tents with. Using TurboXBT for instance, the platform brandishes bank-grade security infrastructures to safeguard users’ funds.
As a complete trading platform, TurboXBT employs a very unique strategy to protect users’ data. The platform does not require any Know Your Customer (KYC) documentation from first time customers, automatically eliminating the risks of any potential data breaches.
Ease of Use and Product Diversity
A platform that is not easy to use for both new and experienced traders can best be described as one that is not suited for mainstream adoption. In other words, it is pertinent that a platform is very easy to use in order to be the delight of all users. TurboXBT is designed as a simplified brokerage in more than one way.
Getting started with trading assets on the platform can be very easy, especially by following the prompt below;
The user will need to login to his dashboard and fund his trading account. Once down, trades can be ignited with one of the trading pairs such as the BTC/USDT pair, a user can select the amount of crypto/fiat and time frame they desire on the chart interface. The trade is then set in motion when users select either the green arrow (for up) or red arrow (for down). The process finalizes when the contract time period has ended, and earnings are dependent on the success of a user’s choices.
A beautiful highlight of TurboXBT is that it supports a diverse number of tradable assets totaling 17 and cutting across Digital Assets, Foreign Exchange, Indices and Commodities. These assets are spread across 38 trading pairs respectively.
Profitability and Trading Resources
These are interwoven with one another as the best trading platforms often have resources that its users can generally fall back on to help them harness as much value on the platform as possible.
Convincingly, TurboXBT gives as much commensurate profitability as the risks it poses, coming off as a standard for other trading platforms. On TurboXBT, traders can earn as much as 90% on a single trade and this impressive performance track is made possible with the integration of Demo Accounts for all traders.
With the Demo, both new and old customers can practice their strategies, and attain a better confidence level before committing real funds to the platform. Adhering to this model has proven to be beneficial in the long run.
Key Takeaways
It is inherently possible to survey all platforms and pinpoint a few that checks all of these factors highlighted in the course of this article.
However, the best platforms are those that generally meet the needs of a user. In other words, users must have their own basic expectations from a trading platform and advance their research based on these predefined expectations. The more of these expectations an exchange checks, the more fitting that platform is for the user.
With the crop of trading platforms serving short term traders, TurboXBT is a worthy name to give a shot, and thanks to the Demo account provisions, users can get started with absolutely zero risks.
