Usually, multi-asset HFX trading platforms allow you to trade stocks, currencies, commodities , indices, ETFs, and cryptocurrencies. The fees you pay are also an important consideration that will affect your bottom line. They also affect the kind of strategies that you can employ on a particular platform. For example, an HFX trading platform that charges high commissions on each trade that you make implies that you will not be able to scalp trade through it, because your small profit margins will be wiped out by the commissions, resulting in negligible profits or even losses.

The fees charged by a platform can be divided into two types: trading fees and non-trading fees. Trading fees refer to the fees that a trader incurs whenever they make a trade, this could be in the form of a commission or a spread. On the other hand, non-trading fees are fees that are not directly related to the trading activity on the account. For example, this could include inactivity fees, deposit and withdrawal fees, as well as account management charges.

Before you begin trading through a platform, it is important for you to be aware of the different fees that the platform charges. Usually, these fees differ across asset classes and are different for each country and jurisdiction, so you should look at the ones applicable to your trading needs. For the same functionality, you should always prefer a platform that charges lower fees over one that has high fees.

A commission is a flat fee that you pay for each trade order that you place. One of the advantages of commissions is that they are known in advance, therefore you can easily accommodate commissions and account for them when backtesting a strategy or preparing a plan for trading. Commissions are usually volume-based, and the greater your trading volume, the lower the commissions that you will have to pay.

At the same time, commissions can sometimes be higher than spreads. Different brokers offer spreads and commissions, and some brokers even offer a combination of both.

While both spreads and commissions have their own advantages and disadvantages, commissions are usually preferred by HFX traders because they are fixed, accountable, and quite low if a certain trading volume is exceeded. When selecting a broker that charges commissions, you should always check if this broker offers rebates or discounts. Since HFX trading strategies usually involve large volumes, it will be easy for you to meet the threshold and be eligible for rebates, if any. Spreads are the other type of trading fee that a platform can charge and usually refer to the difference between the buy and sell prices of an asset.

Spreads charged by platforms can either be fixed or variable. Fixed spreads stay constant throughout the trading day, whereas variable spreads vary during the trading day based on volatility and liquidity in the market. It is important for you to know what the spread for your broker is, and whether it is fixed or variable. Different brokers have largely different spreads depending on the instruments you wish to trade, and spreads can vary even among one particular asset class.

Other platform fees are non-trading fees, and they can be divided into three types of fees. The first is the management fee for the account, which is an annual charge that you pay for using the platform. The next is the fees for depositing and withdrawing fees to your account.

This could be either a blanket fee for deposits and withdrawals, a fee for either deposit or withdrawals, or a fee that is only applicable on particular forms of depositing and withdrawing funds.

The third type of fee is the inactivity fee, which only comes into play when you do not use your account, makes trades, or add funds to your account for more than a particular period of time. If this happens, you will be charged a regular inactivity fee. Before selecting a broker, it is important for you to know the different non-trading fees since they also affect your profitability.

Aside from the characteristics and criteria mentioned above, there are several other factors that you have to keep in mind while selecting a broker. These are the features and tools that the platform offers. A larger variety of tools is always better than a smaller one if you do not end up using all of them. The major features that you should look for in an ideal HFX trading platform have been discussed below.

The primary feature that you need to look at is the possibility of fractional ownership. This allows you to purchase a fraction of a share, such as 0. This is particularly useful if you do not wish to invest a large amount of capital into your trading account.

For example, some shares can cost as much as GBP, and the only way in which you can buy them with a small capital investment is through the use of fractional ownership options. There are several platforms these days that offer this functionality, and this is definitely something you should be on the lookout for. A corollary of having fractional ownership of shares on a platform is having low minimum deposit requirements since this allows you to set up an account with low capital investments.

Therefore, you should also look at platforms that have low capital requirements, such as XTB minimum deposit of 1 GBP or Capital. com minimum deposit of 20 GBP. The next factor to keep in mind while trading is to look at the automated trading facilities that they offer. While some brokers allow you to set up and execute automated trading strategies through their own platform, the most common way to do this is through the MT4 and MT5 trading platforms. There are several types of automated trading strategies that you could employ.

For example, you could choose to trade through bots, trading signals, or copy trade with another trader. Either way, it is important for you to find and use a broker that supports automated trading strategies. There are several types of orders that platforms allow you to place. These include market orders, limit orders, stop-limit orders, and stop-loss orders. In addition to this, there are numerous timeframes that you could set on your orders, such as:.

It is important for the broker you choose to allow you to place such orders so that you can trade with maximum efficiency. Research and analysis tools are highly important, particularly for HFX trading platforms. There are two types of research and analysis tools that a platform might offer: technical and fundamental. Technical tools include charting and analysis methods and can be either general or asset-specific.

Fundamental tools include economic calendars, financial reports, analyst forecasts, and other similar forms of data. Traders usually perform only one of the two forms of analysis, however, it is important to be aware of both since they have an impact on prices and can therefore affect the overall profitability of your strategies.

Having a broker that incorporates both fundamental and technical analysis can mean that this job is made easier. Some platforms require getting used to because they are designed and structured in a unique way.

A demo account helps with this since it enables you to understand how the navigation and order execution on the platform works. At the same time, having a demo account on a platform means that you can easily test out your strategies in real market conditions, and build up your knowledge and experience without risking real capital.

This is a very useful tool, and it is always better to use a broker that allows you to open a demo account with them. As an HFX trader, you will often be opening and closing multiple positions quickly and automatically. HFX trading does not usually require a very high level of close management, however, you might want to see how your portfolio is doing as a while at any given point in time. Therefore, a mobile app is very useful since it allows you to monitor your positions and trade on the move, even when you are not near a laptop or a computer.

At the same time, most mobile apps also have functionalities that enable you to set price alerts and push notifications for a variety of situations, enabling you to stay informed on the move. The variety of methods that you can use in order to withdraw and deposit funds to your trading account is also a key factor to consider.

This will enable you to easily add and withdraw funds from your account. The last factor that you must consider is the customer service offering provided by the platform. Those platforms that provide live chat options are always highly preferred since this means that your queries can be resolved quickly and easily as and when they arise.

The process of opening an account on the best HFX trading platform, eToro, is relatively simple and straightforward and incorporates 5 steps.

These have been discussed below in detail. The first step is to open an eToro account. You can either create an account from scratch or log in using your Facebook or Gmail account.

Once you have created an account, the next step is to then verify your identity. Since eToro is a highly regulated broker, they require you to submit proof of ID and address proof before your account is verified.

For ID proof, you can submit any government-issued ID such as a driving license or your passport. For address proof, you could either submit a utility bill or your bank statement.

Once you have uploaded the requisite documents, the eToro verification process is pretty quick. As soon as your account has been verified, you will be able to move on to the next step.

The next step is to deposit funds into your account. The next step is to search for the market that you wish to trade on. This is as simple as going to the search bar and typing the name of the market.

You can then select the market you are interested in. alternatively, you can use the menu to select an asset class and find the market you wish to trade in through that. The last step is to place a trade. The trade will be executed almost instantaneously. HFX platforms provide a unique service offering: the products that you can trade through them cannot normally be traded through exchanges.

There are several important considerations to keep in mind when trading through an HFX trader, which have all been discussed. These include general considerations about the platform, such as the trading fees and the asset class list. But they also include the trading tools that the platform provides, such as their analysis capabilities and the different order types that can be placed through the platform. It is one of the most reliable and safe trading platforms for investors and traders of all experience levels, and it also contains among the largest variety of asset classes to trade on.

Their trading platform and its functionalities are almost unparalleled in the industry, and it also has low spreads and fees on the trading of stocks and forex pairs.

All in all, eToro is definitely a strong option to consider for your HFX trading needs. While different platforms are suitable for different traders, eToro is the overall best fast trading platform. The cheapest HFX trading platform, with the best variety of assets and products, is Capital.

The top HFX trading platforms are regulated by different agencies worldwide, like the FCA in the UK and the CFTC in the USA. The best HFX trading platform to trade stocks, with the lowest fees and the largest variety of markets to trade on, is eToro. Commission-free HFX trading platforms make money either by charging spreads or by having other indirect fees.

The top-tier HFX trading platforms usually offer leverage of up to 30x on major forex currencies, but AvaTrade offers leverage as high as x. I'm a second year Accounting and Finance student at the University of Warwick, in addition to being an incoming Trading Analyst at Morgan Stanley.

I'm passionate about the financial markets and all things finance. Home » hfx. Best HFX Trading Platform — Cheapest Online Brokers Revealed.

Nishit Kumar Pro Investor. Updated: 22 May My Trade Size. More Filters. Sort By Rating. Deposit Methods. Trading Platforms. Regulated by. Additional Features. Spread 0. Leverage Rating 0 or better. Wednesday 11 A. Thursday 11 A. ACCESS SESSION. Binary Options Traders.

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CST Wednesday 12 A. Share to Twitter Share to Facebook Share to Pinterest. The first is the management fee for the account, which is an annual charge that you pay for using the platform. Technical tools include charting and analysis methods and can be either general or asset-specific. Forex trading hours — time period that is made up of a day of business in the financial market, which covers periods from the opening bell to the closing bell. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

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