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Trading Software 2020 - How to find the right trading software

Use trading software correctly 2020: What should you pay attention to when choosing? Guide informs Use the right trading software now.

Before opening a trading account with an online broker, traders should also look at the appropriate trading software. The individual requirements can differ from trader to trader, so that the functional scope of the software plays an important role. The selection also depends on which investment product is to be traded. It may well be that software offers excellent services for the forex sector, but is less convincing for other investment products. Where beginners initially only need the basics for trading, the demands of professionals can be very different. Daily market information, real-time prices and detailed analyzes should be made available via the trading platform.

Table of contents

  • Trader software - good software doesn't have to be expensive
  • Free real-time prices
  • Chart analysis - indicators and tools
  • Equity software - Analyze stock prices and manage securities accounts
  • Include your own requirements when making your selection
  • Demo account - trading without risk
  • trading apps - trading via smartphone or tablet
  • conclusion

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trader software - good software doesn't have to be expensive

The return is always offset by the costs and fees for trading. Expensive order fees can significantly reduce the return achieved, which every trader probably knows. But also for the trader software costs may arise. In addition, individual services, such as the provision of course data, can mean additional costs. But isn't free software for trading sufficient? This question should be asked by both beginners and traders with many years of experience. There are also free solutions that show an attractive range of functions. Good trader software is required for successful stock exchange transactions.

Among the world's most popular trading platforms is the MetaTrader 4. If you want to implement Forex or CFD trading, you should inform yourself about MetaTrader 4. The software interface is user-friendly and offers useful tools that can be used for analysis. Reliability is another aspect that can be mentioned in connection with MetaTrader 4. The software also offers a lot of useful information in the area of ​​technical chart analysis. Not only manual trading is possible via MetaTrader 4. Automatic trading can also be implemented. The new version is represented by the MetaTrader 5. The two trading platforms are not identical and differ in some aspects, so that a comparison can prove advisable.

There are also different when trading trading platforms. This can also be an in-house development of the respective broker. Attention should be paid to any costs here. Most trading platforms are user-friendly and have a high level of security. The extensive selection of trading types makes a further plus point.

The trading platforms mentioned only show a selection of the options. The list of trader software is certainly much longer. A trading software comparison can be worthwhile in order to find exactly the software that meets the individual needs. Free trading platforms can also do a good job. Traders should find out about the range of functions. There is also a free demo version for various trading platforms.

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Free real-time courses

Especially for Short-term oriented traders, it is essential to keep up to date with the current price development and that several times a day. Getting information about the course status only once a day can prove to be too little. Here it depends on the investment strategy of the respective trader. With the help of real-time courses, information can be obtained. Real-time courses are courses that are displayed in real time or without delay. For courses that are not displayed in real time, one speaks of so-called "delayed courses". For some traders, real-time courses are an important tool that is required for the implementation of the investment strategy.

When the prices are updated, it should be noted. If a trading software real-time push rate is one of the functions, then the rate is constantly and automatically updated. With Realtime Pull courses the update is different. This takes place when the trader queries the price. Real-time courses are not always included in the free services. If you need courses in real time for your investment strategy, you should find out in advance whether they are free with the selected software. It is also possible that real-time prices are not available for all securities and exchanges.

The display of prices in real time is of interest to many traders. It may well be that the query of real-time courses is associated with costs. In addition, there may be no real-time prices available for a particular security or exchange. A distinction must be made between real-time push and pull prices.

Best Trading Platforms & Software For Beginners (2019)

Chart analysis - indicators and tools

With various trading software, there is also the option of using the Trade chart. Many traders attach great importance to chart analysis. The chart analysis can be used to determine the appropriate point in time for buying or selling a security. Therefore, technical chart analysis is also required for trading software. Using the chart analysis, traders can find out about the current assessment of a security. The focus is on the study of price trends, since the future development of a course is to be estimated. Charts can be displayed in various ways, among them are:

  • Line charts
  • Candle-Stick-Charts
  • Balken-Charts

The price trend of an underlying can be represented by a line chart. The closing prices of a time interval are shown. The closing prices are connected by a line. A representation is also possible on a weekly or monthly basis. A line chart cannot show how the price fluctuations are presented within an interval. A candlestick chart, as its name suggests, resembles a candle. Opening and closing prices are illustrated as a rectangle. Recognizing trends is particularly important depending on the investment strategy. Smaller trends can also be discovered using the candle stick chart. There is a variety of indicators by which a trader can interpret a price.

The chart analysis represents a not negligible part of the trading platform. Who charts for analysis want to use the course of the course, it should be clear what exactly is shown by the presentation. Charts should be read correctly, which sometimes requires some experience. Even beginners should familiarize themselves with the various charting techniques.

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Equity software - analyze stock prices and manage securities accounts

When trading, the goal is successful trading on the stock exchange. If you trade stocks, you can get good support with the right stock software. Not only beginners can benefit from the software, but also experienced traders. The demands on the share software can differ for the trader types mentioned. Depot management can be part of the range of functions, which is advantageous. This allows traders to be informed about updated prices. Dividend payments, purchases or sales and more can also be clearly surveyed using the custody account management. There are various offers in the area of ​​stock software on the market, including the following:

  • Shareholder Standard
  • AktienProfi
  • TraderStar
  • DAXA-Chart Privat

Various share software are also available for free download. Stocks can be monitored using analysis tools. How extensive the features for the retailer are depends on the respective software. The price development of a share can be assessed using the chart analysis to predict the future development. The stock software should be up to date. Automatic trading in stocks is also possible via various programs. When trading stocks, it should be borne in mind that even the largest stock software cannot guarantee profits. However, the various aids offer support that should not be underestimated.

The scope of functions is also the focus of interest for stock software. The custody account manager can provide a simple overview of relevant data. Automatic trading in shares is also possible. Traders who are interested in this should look for an appropriate trading platform. The chart analysis can be used to better assess the future price of a particular share.

Include your own requirements when making your selection

Who trades at short notice Want to implement securities, relies on prices in real time. This is why this aspect is particularly important for day traders. In day trading, opening and closing of a position takes place within a trading day. Day traders speculate that they can already benefit from small price fluctuations. Those who prefer long-term trading, on the other hand, may have different requirements for the functionality of the trading platform. The selection of analysis tools is of interest to both beginners and experienced traders.

A market overview should also be possible via the trading platform. The latest news about public companies and politics are also interesting for traders. The trader software must certainly also be tailored to the investment product that the trader has selected for trading. The good usability of the software is important for many traders. Automatic trading in securities is one of the services of various programs. Here the program takes over the buying and selling of securities.

Traders should first be aware of their own claims. Should the trade be done manually or automatically? Should the term of a position be short, medium or long term? Real-time courses are a relevant criterion for day traders when choosing the trading software. Additional costs may be incurred here. Some traders are willing to pay for a trader software, others, however, only access free solutions.

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Demo account trading without risk

You can usually find out which functions a trading platform has. However, this doesn't say anything about usability. Therefore, the use of a free demo account, which is provided to the trading platform, makes sense. The demo account can be used to test trading without risk and thus also the functions of the trading platform. It should be noted that the functionality of the demo account and that of the regular trading platform may differ. Trading can be done using the demo account. A virtual credit is available for this, which can be used.

Trading via the demo account is not made with real money, which of course means that no real returns can be achieved. Nevertheless, a demo account presents attractive benefits that are not only appreciated by beginners. Even experienced traders use the demo account to optimize strategy. The amount of the virtual credit and whether the demo account can only be used for a limited time depends on the respective provider.

Who is not yet a trading platform has decided, can not only gain initial trading experience via the demo account, but also test the functions. This makes it easier to start trading with real bets and make the decision for a specific trading platform easier.

Trading apps - trade via smartphone or tablet

To actively participate in exchange trading A trading app can prove to be a practical alternative to using a home PC to participate in securities. If you use a corresponding app for trading, you can also execute buy and sell orders on the go. In addition, developments in the depot, real-time prices and current stock exchange news can be found out via the app. A good broker should also convince when it comes to the trading app. The apps for mobile trading are not just for stock, CFD and forex trading and other investment products. Traders who implement short-term trading in particular can benefit from a trading app.

It should not be forgotten that regular trading software that is traded from a PC can sometimes have a greater range of functions, Before the trading app is used for trading, traders should inform themselves about the functions available. The question of the operating system of the mobile device turns out to be of interest, since many trading apps are only designed for iOS or Android operating systems. Certainly there are exceptions here that offer a mobile solution for Blackberry and Windows Phone.

By using a trading app, lucrative opportunities no longer have to be missed, since trading is also possible on the go is possible. A good internet connection is required here. It should be checked in advance whether the range of functions of the app is as large as that of the regular trader software. A trading app can prove to be a useful addition to the trading software when trading various investment products.


Before the decision is made to use a trading software Compare traders different offers. Not only are the costs relevant for decision making, the range of functions also plays a decisive role. In addition, the investment product to be traded must also be taken into account with regard to the selection. Software that is designed for CFD and Forex trading does not necessarily have to have the right functions for other types of trading. A current overview of the depot simplifies administration, so this should also be included as a criterion.

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