What Features Define a Quality Online Investment Platform?

What Features Define a Quality Online Investment Platform?

Similar to many other African nations, Kenya is currently in the midst of a boom in relation to digital technology. Many Kenyans are actively involved with the online community and it only stands to reason that a significant portion have become attracted to the world of investing.

While there are plenty of opportunities to appreciate, we need to keep in mind that trading success is often determined by what platform is used to execute the positions themselves. This is also when things can become slightly confusing. Some services are better than others while a handful should be avoided altogether. What are some metrics to look for in a quality provider? We will highlight a handful of key takeaway points so that readers can make the most appropriate decision when the time comes.

Reputation

Any forex trading online platform is built atop the opinions of the end user. This is why the first step should involve evaluating real-world feedback from new and existing customers. All of the most reputable platforms will normally highlight some of their high-end clients and many also provide testimonials. If these are not available, perform an Internet search in order to determine what others have had to say. If you happen to encounter a provider associated with predominantly poor feedback, make it a point to look elsewhere.

Trading Tools and Utilities

Online investing is both a science and an art form. Intuition alone will hardly suffice if you wish to enjoy long-term success. This is when the power of advanced trading tools inevitably comes into play. Keep an eye out for the following options: 

●     The ability to place stop-loss orders.

●     Advanced charting options.

●     Real-time and historical data related to a specific asset or share.

●     Trading signals.

●     Virtual private network (VPN) support.

●     Push notifications.

●     Optional automated trade executions.

●     Obviously, a program for trading, such as metatrader 5.

When possible, determine whether or not a demonstration version can be downloaded. You can therefore begin to appreciate the finer points before committing to any type of paid subscription.

Security Features

Online security has become a very real concern in recent times. Threats such as fraud, identify theft, phishing, and malware are all on the rise. Anyone who plans on becoming involved with the virtual investment community needs to take these risks seriously. This is also why partnering with a platform that will keep your personal details hidden is of paramount importance.

As a rule of thumb, always check to ensure that the website in question is protected by SSL (Secure Sockets Layer) encryption. SSL protocols essentially scramble all information sent between two parties (such as the investor and the trading platform). Without a one-time digital "key", this data is virtually impossible to decipher. The presence of SSL encryption is denoted by the symbol of a padlock found immediately to the URL address of the website. This is not only important for a trading website but also for any other platform where you have to enter your financial data.

Many investment platforms have likewise begun to employ a secondary form of protection known as KYC verification. Users will need to confirm their identity when performing specific transactions such as depositing or withdrawing funds. KYC verification adds yet another layer of protection and it can provide a powerful means to thwart fraud.

Choose an A-Book Provider

This is a lesser-known suggestion that is often overlooked and yet, it could very well determine your overall trading experience. Always strive to register with an A-Book broker.

Trading platforms can be broken down into two primary categories: 

●     A-Book

●     B-Book

So, what is the difference between these classifications? A-book brokers are unique in the fact that they turn a profit from commissions or spreads. On the contrary, B-book platforms will normally make money in the event that an investor incurs a loss on a trade. Some feel that a conflict of interest exists in relation to B-book brokers, as they don’t see any need to bring profits to their users. In other words, it could be in their best interest for an investor to lose money. This is not the case with A-book platforms, as they only earn profits if the users get positive investments.

All About Preparation

Kenyans can now access hundreds of online investment platforms with the click of a button. This is why appreciating what features define a quality broker is so important. Please feel free to bookmark this article for future guidance and when in doubt, do not hesitate to contact a brick-and-mortar wealth management firm.