Proprietary, Web and Mobile Platforms

Proprietary platforms

Brokers such as IG, Saxo, CMC Markets, eToro, Plus500 and Capital.com run their own platforms, and for their clients those platforms are often better integrated with the broker's markets, research and account tools than MetaTrader would be. The trade-offs are portability, since a proprietary platform only works at that broker, and automation, which most do not support. Test one on a demo the same way as any other.

Web platforms

A web version needs no installation and works from any computer, which is convenient and also a security consideration on shared machines. Web versions of MetaTrader and cTrader cover charting and ordinary orders and leave out expert advisors and some indicator settings. Proprietary web platforms are often the broker's main product and are complete.

Mobile

• Good for: monitoring positions, closing trades, moving stops, placing simple orders, checking a chart.
• Weak for: detailed analysis, multi-chart layouts, automation, complex orders.
• Risks: fat-finger orders on a small screen, trading from a notification, checking too often.
• Sensible use: manage on mobile, plan and place on desktop.

Setting up

Pick the desktop platform as home. Install the mobile app from the same broker and log in to the same account, so positions and orders sync. Enable two-factor authentication wherever the broker offers it. And set a rule for what you will and will not do from your phone, because most impulsive trades happen there.

Key takeaways

• Proprietary platforms can be excellent at large brokers; they lock you to that broker.
• Web versions are convenient and slightly reduced; desktop is the full product.
• Mobile is for managing, not planning.
• Secure the account and decide what mobile is for.