Analytics Points

A trading platform should give you various analytics to help you identify choices of stocks. While you can find real-time quotes and charts through a program, you must be aware of many other things.

News Feeds Are Vital

A trading platform should include news feeds. These include reports from many news organizations like the Associated Press and Reuters among others. The news feeds should give you information on everything that is happening in the market. A platform can even search through a feed to find very specific stock information.

A news feed search is a simple process:

Look for the stock you want to invest in.
Check on the exchange the stock is in and the symbol it uses.
Enter the content by listing it as the following: Abbreviation of exchange:Symbol. For instance, if you wanted to find information on Cedar Fair Amusements, you have to enter “NYSE:FUN” into the search. This lets the program know you are looking for Cedar Fair’s stock listed in the NYSE under the symbol FUN.
Check the results. The results might include details on forecasts, SEC reports, and much more. Any outstanding events could be included too.

You should try to find news that is as current as possible. You can always find older information on stocks to get an idea of why a stock has changed. Anything new is always immediate and could directly impact your stock’s value.

Proper Security Is Needed

The platform you use must be secure so your financial data will not be hacked or stolen. It needs a secure authentication system that requires you to enter a username and password to confirm your identity.

Encryption is also a necessity for getting onto a platform. This includes encoding transactions you make so outside forces will be unable to break into a connection and read what you are doing.

A standard may also be used to record all transactions that are completed. The standard might include details on when a trade is made, how much it was for and so forth. Such a standard lets you keep records so you can confirm that you have made particular deals over time.

Backup support may also be provided on a platform. This includes backup server support for cases where the primary one might be lost. Backups of all the data being traded, particularly information on everyone’s accounts, should be included. All of those reserves should be subject to the same security measures as the primary content.

Financial Points

Some additional financial fees will be specified in a trading platform. These focus on what you would have to spend to complete trades or to even access a platform:

Each platform has its own fee for how much each trade will cost. You might pay just a few dollars for each trade. This could be a flat fee for a single trade or a fee based on the number of shares you are buying or selling. Sometimes the fees are cheaper per share when you have more shares as this is considered a bulk transaction.
Options trades require an extra charge for contracts. The extra charge per contract for an option might be minimal in value. It could be less than a dollar.
An account minimum might be listed. A lender might ask you to have a certain amount of money in your account before you start trading. This ensures that you are committed to trading on the platform. You might have to have $1,000 or more transferred to an account with that platform before you start trading. You still need to have the $25,000 or more in your day-trading account in accordance with SEC standards.
Some platforms might offer special promotions. A promotion might be a certain cash bonus with a qualifying deposit. You might get $100 in extra money for trading if you deposit $1,000 or more into an account, for instance.
Each platform has its own specific margin rates. The margin rates offered for options might be within a few percentage points of the current value of a stock. The standards a platform uses might vary based on how long the stock option will be open.