Many years ago, ordinary individuals had no access to financial markets like the stock and foreign exchange market. However, technological advancement has given rise to retail trading and gives everyday people access to thriving financial markets via an online trading platform. Millions of people can now access global financial markets from their homes.
Retail trading through online platforms like the MTrading web platform has broken the invisible barrier between financial markets and everyday people. Over the years, this trading sensation has also birthed other exciting phenomena like “web trading,” giving a new approach to trading financial markets.
Web trading platforms distinguish themselves from general online platforms in many ways. If you are a new or expert trader looking to explore web trading, this article explains all you need to know and why web trading platforms are considered powerful.
What is Web Trading?
Generally, online trading uses an internet connection to access global financial markets via a trading app or software. On the other hand, web trading is a subset of online trading that focuses on providing access to the financial market with just an internet connection and a browser.
This form of trading reduces traders’ dependence on dedicated trading software or mobile apps. It is distinct for its cross-platform nature, making it accessible to any computer or mobile device with access to the web.
Most web traders often utilize this platform on PCs, which is sometimes mistaken for PC-based trading. The latter requires downloading and maintaining trading software on your desktop or laptop to access any financial market, while web trading requires just a browser.
PC-based trading is also subject to you downloading the software compatible with your device’s operating system (Windows, macOS, Linux, Android, and iOS). It does not give way for flexibility.
To start web trading, you must register with a reputable web trading platform and log in on your preferred device. This form of trading is for any trader looking to experience all kinds of trading tools and features flexibly and conveniently. By signing into your account, you can trade stocks, currencies, and futures from any device via a web browser.
Advantages of Web trading Platforms
Web trading ushers traders worldwide into an era of super-convenient and flexible trading. New and experienced traders can adopt them with only a few steps. You can only carry out web trading on web platforms, which has many benefits over traditional online trading platforms. They are:
Easy to Use
Web trading platforms provide traders access to various financial markets with a click of a button. They can be used on any device without requiring dedicated software or browser extensions.
Platforms that offer web trading also have an easy-to-remember dot-com domain. You get access to the latest market quotes and charts by inputting that name into any browser.
Web trading is one of the most reliable forms of trading as it is not confined to being used on a specific type of device. Trading apps or software requires their devices to have the particular computing power to work efficiently. If the specifications are not met, there is a chance of the software lagging or even crashing.
Web trading platforms, on the other hand, carry out all data processing activities on the cloud. This feature makes them dependable even when you change your device.
Another powerful feature of web trading platforms is the great flexibility they offer their users. As a web trader, you can access any financial market irrespective of your device. Since the operation of this platform depends on the availability of a web browser, it can be used on a PC, smartphone, iPad, and other internet devices.
Most web-trading platforms offer a one-click trading option where you can make orders like pending and stop-loss orders with just a press of a button. They also provide advanced market depth, real-time quotes in Market Watch, technical analysis tools, and the three major chart types (candle stick, bar chart, and line graph) with up to 9 different time frames.
Unlike trading software, web trading platforms do not require regular updates as they are automatically updated with the latest features as they are developed.
Using a web trading platform eliminates the extra costs that would have been incurred by buying expensive PCs with high computing power or extra storage. These platforms have web servers that handle every computing and storage activity.
Web trading platforms are usually web-based applications with cross-platform features, making them more cost-effective and beginner-friendly.
Web trading platforms also do not need as much space as dedicated software. Most user information and financial data are stored in the cloud.
The ability to offer smooth and secure access to financial markets is the attribute of any good trading platform. Web trading not just protects your device from crashing and secures your financial data from falling into the wrong hands.
Some security measures taken by web trading platforms to ensure the safety of users include data encryption, extended authentication, server authentication, password protection, and configuration file protection.
The data communicated between the server and the web trading platform are compressed and encrypted on 128-bit keys. This process is known as data encryption.
Like user authentication, server authentication is carried out to ensure that the web trading server is genuinely the platform’s dedicated server.
The configuration settings and accounts on the web trading platforms are encrypted; therefore, it is impossible to connect to the platform’s web server with the configuration folder of another forum.
Finally, web trading platforms use unique technologies to protect password fields from hackers.
As time goes on, innovative additions are being made to web trading platforms using machine learning, blockchain, AI, and other technologies. This form of trading, no doubt, pushes traders to the future and opens doors to endless possibilities.