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Online trading has come a long way since it began in the 1990s. It has become easier to sign up on a trading platform over time and isn’t stopping anytime soon. The platforms are becoming more advanced and interactive as time goes on.
The usual way to trade is to download an app on your desktop or smartphone, sign up and verify your account, and start trading. However, it has become simpler than that thanks to advancements in web development technologies. These days, it’s no longer compulsory to download an app to trade; you can simply access the trading platform from your web browser. Web trading has become an unexpected solution that brings a lot of benefits for traders around the globe.
What Is Web Trading?
Web trading refers to any platform that provides access to the markets and allows you to buy or sell assets without downloading any software. The platform does not need installation but rather works on any device with an active internet connection and a web browser. You can simply launch the URL, trade, and close it when you’re done. This type of trading is also called no-app trading, owing to the fact that you must not download an app for it.
The Power Of Web Trading
Web trading has many benefits over using an app. They include:
A fully functional web platform removes the need to download an app on multiple devices and manage them. Instead, you can simply access the website from any device via a web browser and execute your trades. This is easier to manage and also saves considerable storage space that apps occupy on your device.
Many people forget to update their apps, and outdated apps may have unpatched security bugs that hackers and other malicious actors can take advantage of. If you’re using a web platform, you don’t have to bother about this. You’ll always get the updated version when you access the website on your web browser, reducing security risks.
- Lower Costs
Web platforms are cheaper to create and maintain compared to apps. If you’re building an app, each operating system has different requirements and methods, so you’ll need separate developers for each of them. You may have to hire a dedicated iOS engineer, Android engineer, Windows engineer, etc, and they charge big bucks. In contrast, a web platform uses one stone to kill multiple birds. You can build a single website that’ll be accessible from every device regardless of the operating system. The tweaks you’ll make involve optimizing the website for different displays, which is easier compared to building separate apps for separate operating systems.
Web platforms are easier to find because their information is displayed on search engines like Google and Bing. Apps on the other hand are displayed on dedicated app stores where they’re more difficult to find. With proper search engine optimization, developers can attract new users to their web platforms without spending much on advertising; this is almost impossible with mobile and desktop apps.
Website URLs are easy to share via a simple link. Developers can even encourage sharing by offering in-app rewards. This presents another opportunity to spread the word about their apps and attract customers without spending much on advertising.
It’s easier for developers to customize web applications compared to mobile or desktop apps. It’s easier to change the interface and add features at any time. In contrast, app stores like Apple’s App Store and the Google Play Store place some restrictions on what features developers can include in their apps. You’ll also need to submit any changes for review to an app store, where you maintain full control over your web platform and can deploy new features instantly.
Example Of A Web Trading Platform
The MetaTrader 5 Web Terminal is an example of a platform that lets you trade over the web with ease. Instead of downloading an app, you can just head to the official link anytime you want to trade. It lets you buy and sell various types of assets including stocks, bonds, foreign exchange, futures, etc. You can set up a demo account in a few steps to learn the ins and outs of the platform and switch to a real account with a licensed broker when you’re ready. The Web Terminal was re-developed from scratch in 2022 to give users an effective way to trade over the web. It is well-optimized for mobile displays and has a simple user interface that makes it easy to use.
Factors To Consider When Choosing A Web Trading Platform
Important factors to consider if you want to pick the best web trading platform include:
Trading can be complex on its own, so you don’t need a platform that adds to the complexity. An ideal web trading tool should have an interface that’s easy to navigate and understand. It should be easy to switch between different features when using the platform, and it shouldn’t consume so many hardware resources that it slows down your device.
Security is paramount for all web platforms and even more so for a platform that handles user funds. The software you choose should have advanced security features such as end-to-end encryption, Secure Sockets Layer (SSL) encryption, and two-factor authentication. Also, check user reviews to see if it has a good reputation regarding security and hasn’t fallen victim to data breaches caused by negligence in the past.
An ideal web trading tool should be dependable. You don’t want one that goes down during crucial trading times, which can cause considerable losses, or constantly crashes or freezes during use. Use a demo account to test the reliability before proceeding; most platforms offer this type of account.
Different trading platforms support different types of assets. For example, one might only let you trade stocks but not derivatives like futures and contracts for differences (CFDs). Ensure that the platform supports the assets you want to trade before proceeding.