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The basis of trading via CFD and Forex brokers is of course the trading platform that the respective provider provides to its customers. Without the trading interface, it would not be possible for customers to place orders, use functions, or view their account information, for example, from their home PC or via an app on a mobile device.
Although many traders believe that there are hardly any differences between the trading platforms of the individual brokers, we cannot confirm this. Instead, traders often tell us that they do not get along with the trading platform of broker XY, for example, but choose the trading platform of another provider. We show them which platforms CMC Markets offers its clients and what features it offers. But how do the trading platforms actually differ and why is mobile trading now extremely important for many customers?
The features of a stationary trading platform
A stationary trading platform is a variant that can be accessed either from a desktop PC or a laptop. The stationary trading platforms are characterized in particular by the fact that they usually have more functions than the mobile variants. They can be divided into two categories, namely the desktop variants on the one hand, and on the other hand, there are now numerous brokers who provide an alternative browser variant. In the latter case, the customer can access the trading platform directly by making an entry in the address line of the browser. Which platforms CMC Markets has decided to use, we have examined for you.
In the case of the desktop version of CMC Markets’ stationary trading platform, however, the software must first be downloaded and installed on the PC. For some traders, it doesn’t matter, for other clients this version is considered inflexible. The reason is that if the software has to be installed, of course only the PC, laptop, or another mobile device on which the software was installed can be used. The browser-based version, on the other hand, is much more flexible, because the Internet browser can be used to access the software from any device.
An exciting question for many traders is whether they get along well with the offered trading platform. Here, the point of user-friendliness is particularly important, which also carries considerable weight in our reviews. Furthermore, the visual appearance and design of the trading platform should fit, because, for example, numerous pop-ups, advertising elements, or color confusing elements do not contribute to the fact that functions can be used as effectively as possible.
Apropos functions: As many and best individually adjustable features as possible are what more and more traders expect from their trading platform these days. CMC Markets is no exception. Most brokers have now reacted to this and are equipping the trading platform with more and more additional functions, modules, and individually adjustable features.
In the following we would like to list just a few of the functions and modules that you will find in the form of many trading platforms:
- Extensive chart functions
- Display and adjustment of charts
- Account and securities account functions
- Complete administration including payment methods
- One-click trading from the chart
- Numerous order types usable
- Analysis functions (trading signals)
- Information on Underlyings
- Real-time courses
In the past, the information content of a trading platform has also gained significantly in importance. Customers no longer want pure functions on the trading platform, but also want to be informed as up-to-date as possible. Thus, many traders count real-time prices, financial news, and the display of trading signals among the information that a good quality trading platform should contain.
In the following, we would like to go into detail about the platforms and trading apps you can expect from the broker CMC Markets.
NextGeneration trading platform
The Forex and CFD brokers can be divided into two further groups with regard to the trading platform, namely on the one hand the brokers who have developed their platform themselves and on the other hand, the providers who use a so-called cross-broker version. Such a version independent of the broker is for example MetaTrader, the leading trading software for foreign exchange trading.
CMC Markets, on the other hand, uses a specially developed trading platform called NextGenerationTrading for trading. One highlight of the NextGeneration trading platform provided by the broker is certainly the fact that it has established itself over the decades. The platform has been in existence for more than 30 years and has of course been adapted and improved over the decades.
The NextGeneration trading platform is one of the trading platforms that are not bound to a specific terminal device, as no software installation is required. Instead, it is a browser-based version, so that the trader has direct access via any end device. Among others, the following features are available on the NextGeneration trading platform:
- Automatic chart pattern recognition
- Extensive chart package with diagrams
- One-Click Trading
- Display of real-time courses
- Account and portfolio management
There are now over 300 currency pairs that can be bought and sold via the trading platform of the broker CMC Markets. In the area of CFD trading, there are even more than 10,000 underlying assets between which the customer can choose. The fact that the trading platform has already met with a positive response from many traders is also shown by various awards.
For example, the NextGeneration trading platform was named “Financial Services Provider of the Year” by Shares magazine for three years in a row (2013 to 2015). There are more awards in this form, so in our opinion, the trading platform is one of the best trading platforms offered by Forex and CFD brokers.
Chart pattern recognition at CMC
The chart pattern recognition at CMC scans over 120 markets every 15 minutes and automatically recognizes chart patterns such as wedges, trend channels, as well as head and shoulder formations. When the detection is complete, a price forecast box is automatically displayed, showing the possible price development.
News and Insight
This tool displays relevant financial news from Reuters on the CMC Markets trading platform. Traders can also find comments or videos from CMC Markets’ market analysts.
In addition to the NextGeneration trading platform as a stationary variant, customers can also trade alternatively or additionally mobile with the broker CMC Markets. For this purpose, Broker Trading provides apps that can be used on the iPhone, iPad, and all mobile devices that have the Android operating system. The trading apps also have numerous features, such as real-time charts, drawing tools, technical indicators, and financial news. Price alerts and Reuter’s news tickers are also among the features that can be used on mobile devices.
Conclusion on the trading platform and the apps
In the category Trading Platform & Apps, the broker CMC Markets does not show any weaknesses in our view. With the NextGeneration trading platform, we definitely offer a good web-based trading platform. The trading platform offers numerous good functions and is at the same time very attractive and clearly arranged. It is not for nothing that the platform itself has been in use at CMC for many years and is constantly being developed further.
No less effective can be traded via the corresponding apps, which are available for both the iOS operating system and Android. However, in our view, the broker could expand its range of services a little further, for example by making access possible via Windows phone or BlackBerry devices. This and the fact that there is no fixed installable version of the platform available are the only points of criticism of CMC Markets’ trading platforms in our view.
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