Which futures trading platform should I choose?

Help

There are a number of futures trading platforms available that offer different features and levels of functionality.

Use our checklist below to help you consider the features that are important to you and the functionality you will need.

Online trading platforms – the basics

Investment capital

How much do you have to invest? Some platforms may have a minimum balance that you will need to hold in the account in order to trade.

Access to global exchanges and products

Are you looking to trade on international markets? Check which exchanges and products you can access from the platform. Not all platforms have access to all international indices or products.

Platform speed

Compare the speeds at which the various platforms run – it can be the difference between a loss and gain.

Basic services

Most platforms offer basic services to help you trade, including charts, tutorials, calculators, guides and glossaries. Consider the value and potential knowledge you could gain by the basic services offered on the platform.

Advanced trading platforms

News service and data streams

Not all platforms offer news services. However, if you need to see global economic releases or comprehensive newswires, along with search and filtering tools, you may need a more advanced platform. Real-time data streams allow you to make up-to-the-minute trading decisions.

Advanced order functions

If you are looking to implement risk management or automatic functionality on your investments, check that the platform allows this. Types of orders you might want to use include spreads, trailing stops and conditional orders.

Mobile

If you travel frequently or are always on the go, it may be useful to have access to a mobile-friendly platform that gives you the same functionality you would have on your desktop.

Charting

Do you need charting, and if so, what kind? Do you want to see intra-day prices, as well as closing prices? The costs vary depending on whether you want a simple chart or historical data with advanced analysis.

Decision-making tools

Advanced platforms sometimes offer tools, such as custom formula builders, advanced options strategies analytics and other proprietary tools.

Knowing what level of futures trader you are, what exchanges you wish to trade in, and what types of orders you will want to put in place, are good starting points for a discussion with a futures broker.

To find out more about futures trading, call us on 1800 420 803.

If you enjoyed reading this article, why not share it?

Simply copy and paste the text and include a link to the article. Please read the Expertise Articles Terms of Use before sharing.

Macquarie Equities Limited ABN 41 002 574 923 (MEL) AFSL 237504. This information does not take into account your objectives, financial situation or needs. Before making any financial investment decision or a decision about whether to acquire any product mentioned on this page, a person should obtain and review the terms and conditions relating to that product and also seek independent financial, legal and taxation advice.