Trading terminal is an interface or software which allows traders/ investors to place buy/sell order through a financial intermediary, i.e. broker. Trading online via these terminals helps traders to place orders faster as compared to doing that on a call or physically going to the broker.
In phone-based trading, you put buy/sell orders by calling your broker who in turn puts orders for you. The only practical difference is that placing orders via the trading terminal is faster in comparison to doing so via the broker; hence, you can place a large number of orders in a short duration of time.
If you want to start trading, the best trading terminal is everything you need! Streaming quotes & charts, price alerts, excellent speed, premium research and easy to use functionality keeps you aligned with this fast-moving online trading world.
Some features of a suitable trading terminal:
- The market information and analysis that it provides is usually very extensive and comprehensive.
- The charting that it provides is really powerful with live charts of different types and also lots of technical indicators that help traders study the charts better and derive opportunities in the market.
- It has a dedicated research section which gives decent recommendations by their research team.
- It is customizable, and traders can pick and choose what they want to see on screen. It allows for a floating widget and multiple displays to be seen in one too. So if you’re going to track a chart and view your watch list together, you can do so.
- After investment, it gives traders their portfolio related information and reports live. So they can track them as the market moves.
- Also, most importantly, is that it offers the data and charts for free; only when you want to trade is when you need to have an account with them.