TOP 5 platforms for trading on the US stock market

Nowadays, many trading operations are carried out using electronic trading terminals. Traders can choose from stock exchanges and over-the-counter instruments. There are many software options.

Experienced traders know very well what trading platform they need. They also know about the necessary functions and tools that ensure effective trading. This cannot be said about beginner traders, who find it difficult to understand all the intricacies and numerous market offers.

In this article, you will learn not only about the most popular trading platform, but also gain other important information, in particular:

what parameters should be taken into account when choosing a trading platform;
how to choose a broker;
what trading platforms exist on the US stock market;
Review of the best trading platforms in the USA.

Reliability of the trading platform

The trading platform, first of all, should be reliable, so that professional traders can easily track quotes, track positions, and perform other necessary actions. And at the same time not worry about possible instability, loss of a significant part of the deposit.

Please note that some exchanges offer unfavorable conditions for traders and may refuse at the most critical moment, demonstrating their unreliability and insolvency.

Trading platform: functionality

When choosing the best trading platform, this aspect should be taken into account along with reliability. Beginners in most cases are satisfied with a standard set of tools, and professionals who are used to using the best programs for trading on the stock exchange choose advanced functionality, which includes bells and whistles and super indicators.

Most often, they use special tools for specific trading tasks, allowing them to:

send orders (stop, limits, markets);
track positions;
track quotes.

This is the basic set of tools. Additional tools are filters, graphs.

Access to the trading platform

This key aspect is not always taken into account when choosing a trader exchange. Not every company openly talks about its offers and often, under the pretext of trading, for example, securities, the client is offered the purchase and sale of CFD (contract for difference). But this is just a derivative of the underlying asset.

When choosing a trading terminal, it is important to be sure that you will get access to the real market. Only attentiveness and study of all aspects will allow a novice trader not to fall into the trap of unscrupulous companies.

For example, there are platforms where the client’s application is first processed on its own server. There is no guarantee that it will go further, so the client cannot always see the real picture of the market.

When choosing a trading platform, look for a platform where the application is sent directly to the exchange terminal, i.e. there is direct access to the market.

The fewer intermediate servers and intermediaries, the better, because sometimes every millisecond counts.

How to choose a broker for a stock trading terminal?

To gain access to the trading terminal, you should select a licensed broker who will act as a representative of the exchange trading terminal.

Key aspects of choosing a broker for a stock exchange terminal:

Reliability. It is important not to fall for the tricks of an unscrupulous broker who claims to belong to well-known, leading companies and investment funds of the United States of America, Europe. Often such pseudo-brokers lure into over-the-counter trading, cryptocurrency, contracts for difference, binary options. These areas are not regulated to such an extent, require less financial investment, therefore they are an excellent environment for deceiving clients.
Cost of brokerage services and trading terminal. One of the key issues is the price of the software. If you are offered software for free, think about it. In this case, the broker will most likely make money on hidden payments, and you will receive the profit either with a delay or even illegally. Paid software is a kind of guarantee of legality and reliability. Keep in mind that the broker of the exchange terminal takes its commission, which can vary from a few cents to several dollars per lot. Everything depends on the volume of shares and other indicators.
Software quality. Free software will most likely make you face a number of difficulties. In free trading programs, there is a possibility of orders not being sent, constant “freezing” and other issues. If applications are not sent directly through the exchange trading program, the trader will not be able to fully control and track everything. As for paid software, in most cases it works like a clock. Due to the speed of execution, wide customization of “hot keys” and the ability to connect additional modules, the process on the exchange is automated for the trader, which allows him to gain a critical advantage over those traders using free terminals.

TOP 5 Trading Platforms Review

According to professional traders, the best platforms for trading, in terms of price and quality, are the following.

FUSION Trading Platform

An ideal trading platform, ideal for intermediate traders. It is undemanding to the speed of the Internet connection and technical characteristics of the PC.

In terms of speed and functionality, FUSION significantly outperforms other platforms in its price range.

Advantages of the stock exchange terminal

The main advantages of the trading terminal include:

direct withdrawal of transactions to the exchange;
the largest shortlist;
minimum requirements for internet connection speed;
the possibility of trading “baskets”;
full Level 2 and display of the entire “glass”;
availability of a demo version.

Trading platform IB Trader Workstation

The leader among terminals used for medium-term and long-term investment. Allows trading in shares, futures, options, bonds, using a single account.

Key advantages of the trading platform:

direct access to the exchange;
multifunctionality and flexible settings;
the ability to create orders with one click at bid/ask prices;
access to news services flyonthewall, Dow Jones, Reuters;
market data on individual exchanges around the world;
built-in events calendar.

Thinkorswim Trading Platform (TOS)

A universal application for stock trading, combining chart analysis, stock selection, an event calendar with convenient filters, a stock scanner, etc.

Advantages of the trading platform

The advantages of such a program for trading are:

real-time quotes and charts at low cost (including pre-market);
clear drawing of graphs;
glass trading and print tape;
the ability to save graphical analysis;
sorting of selected shares, including self-created formulas;
Import stock list.

Professional traders also recommend paying attention to the online trading platforms Sterling Trader Pro and Lightspeed (Sterling LST).

Stock Exchange Trading Platforms. TOP 5 Platforms for Trading on the US Stock Market