A Guide to Forex Platforms in 2016

The Forex markets have already enjoyed headlines during this January, so many traders expect that 2016 will prove to be a fruitful year. As the majority of recent news has focused upon the state of the currency markets, it is a good idea to highlight some of the features which are set to define the most efficient electronic platforms. Appreciating these metrics will enable investors to make the most informed decisions possible.

Competitive Minimum Entry Levels

It only makes sense that entry levels are predicted to be even more competitive when compared to 2015. This primarily arises from the fact that an increasing number of online brokers are entering into the electronic world. In order to entice new investors, we should fully expect to witness some amazing minimums during the months ahead. Still, there is much more to consider than entry levels alone. What other trends have already taken shape?

A Multitude of Currency Pairs

A sizeable portion of investment analysts seem to point to an increased amount of volatility throughout the Forex markets in 2016. It still remains to be seen whether or not this observation will come to fruition. However, many astute traders will embrace a more risk-averse stance this year. One of the most effective ways to embrace such a strategy is to diversify into different currency pairs while maintaining holdings in the major players such as the dollar, the pound and the euro. More exotic positions could prove to help supersede much of this volatility. This is also an effective approach for those who are hoping to embrace both short- and long-term options.

Mobile-Friendly Service

Mobile-responsive trading platforms should become the norm during 2016 and beyond. It has been shown that no less than 63 per cent are expected to access the Internet on a daily basis through the use of their smartphone. This will obviously translate to the individual traders themselves. Such mobile capabilities can enable one to open and close positions even while away from home or the office. The majority of astute portals have implemented mobile-friendly software within their trading platforms. Some even predict that mobile access will supersede traditional computer transactions within a few years.

Substantial Customer Service Resources

The Internet has become a very interactive environment. Thus, any website needs to display excellent levels of customer service. Not only will this tend to include access to standard telephone numbers and email accounts, but other features are likely to come into play. Thankfully training software and community features are quite commonplace on platforms like CMC Markets. Quality customer service has always been seen as a hallmark of a reputable broker. This principle is predicted to become even more entrenched during 2016.

These are some very general observations which are expected to have a great deal of relevance during the upcoming year. It is always pivotal to appreciate which platforms offer these amenities. Selecting the best trading system is just as important as choosing the correct investment strategy.

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