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Trading Platform

 At present, the allure of online trading activities is compelling for the populace. The reason being, online trading provides an intriguing avenue for wealth creation. The ease of access to online trading activities is enhanced by the presence of the top-tier trading platforms of 2023.

Trading Platform

The discourse on the finest trading applications of 2023 refers to the variety of instruments that can be traded online. What are these? For instance, stocks, forex, cryptocurrencies (such as Bitcoin, Ethereum, etc.), and also binary options (like Binomo, Olymptrade, etc.).

A Compilation of Premier Online Trading Applications & Platforms

The cream of the crop online trading applications must be legal (regulated globally and within Indonesia), offer top-tier features, and provide comprehensive services (for instance, a wide range of available instruments). In this context, the best online trading applications & platforms in 2023, both in Indonesia and internationally, are as follows:

  1. eToro – A CFD Stock Trading Application, Forex, Commodities, etc.
  2. OKX – The World's Best Crypto Exchange Platform
  3. OctaFX – Indonesia's Finest Forex Trading Application
  4. Oanda – A Global CFD & Stock Trading Application
  5. AvaTrade – A CFD Forex Trading Platform, ETFs, Commodities
  6. Capital.com – A Trusted CFD Stock and Crypto Trading Application
  7. Instaforex – A Trusted Forex Trading Application
  8. FBS – An Online Forex Trading Application

eToro

The standout trading application & platform globally in the year 2023 and for Indonesian traders is eToro. eToro is a highly recommended online brokerage. Thus far, millions of traders have engaged in the exchange and have availed various services and facilities from this broker. For your reference, the eToro brokerage is fully regulated and abides by the directives of CySEC, FCA, and ASIC. Opting to join this firm will likely result in no regrets, as eToro offers a plethora of advantages.

Strengths:
  • Tradable assets: CFDs, forex, global stocks, crypto, commodities, and much more
  • A user-friendly top-tier trading platform
  • Copy-trading facilities
  • Online education facilities
  • Top-notch support system
  • Free deposit and commission fees
  • Deposits and withdrawals can be made using a credit card, e-payment (PayPal, Skrill, Netteler), and online banking transactions.
Weaknesses:

  • The currency used is USD, not Rupiah.
  • The minimum deposit is relatively large, around IDR 2.8 million.

OKX – The Apex Crypto Trading Exchange Platform

The highest-ranking crypto trading platform globally in 2023, in terms of features and application quality, is the OKX exchange. With 20+ million users worldwide, OKX rivals Binance as the most substantial crypto application, boasting a user base of 90+ million.

Strengths:
  • 350+ tradable cryptocurrencies, including Bitcoin, Dogecoin, and Ethereum
  • 500+ digital asset trading pairs
  • Access to a plethora of potential new coins, such as Tamadoge (TAMA)
  • Operational in 200+ countries worldwide
  • Free deposit charges
  • Lowest transaction fees in the crypto sector
  • 24/7 customer service
  • A wide array of payment method options
  • The top-tier crypto application in terms of interface and features

Weaknesses:
  • Existence of withdrawal limit
  • Absence of a demo account

OctaFX - The Premier Global Forex (FX) Trading Platform

OctaFX stands tall as the top-rated online trading platform and application of 2023, with a primary focus on Forex trade. This international online trading brokerage was established in 2011 and is currently enjoying a sterling reputation. The brokerage firm of OctaFX has an impressive array of awards to its name, including accolades such as the best ECN/STP broker, the finest broker in Asia according to global banking and finance review portals (2018), the most transparent broker in Europe (2017), and many more.

Advantages:
  • Deposit bonus reaching up to 50%
  • Affordable deposits, as low as 5 USD
  • Small spreads: starting from 0 Pips
  • Facilities: Copy Trading
  • Regulation: IFSA (St. Vincent and Grenadines)
  • Trading Platforms: MetaTrader 4 & MetaTrader 5
  • Deposits: support for local banks and various other methods.
Shortcomings:
  • Forex Leverage is only 1:500
  • Crypto Leverage is 1:2
  • cTrader facilities could be further improved.

Oanda – A Global Forex and CFD Broker

The superior trading platform and application for forex in 2023 is none other than Oanda. Indeed, Oanda stands out as one of the premier forex brokers in 2023, boasting an extensive track record in facilitating traders globally. This U.S.-based company has managed to assert its competitive stance in the market while continuously elevating its popularity. Are there concerns regarding Oanda's security? Operating for 25 years, Oanda is a well-established forex broker, possessing a license from the National Futures Association (NFA). Objectively, Sahamok recommends Oanda for both novice and professional traders.

Strengths:
  • No minimum deposit amount is required.
  • No charges for withdrawals and deposits.
  • Competitive spread, margin, and trading fees.
  • Exceptional customer support.
  • Support for Metatrader4.
Weaknesses:
  • Only focuses on CFD and Forex instruments.

AvaTrade.com - An International CFD Broker

Avatrade not only emphasizes forex trading, but also offers a plethora of other assets. The Avatrade Brokerage, previously recognized as AvaFX, stands as one of the premier international brokers, anchored in Ireland. This online brokerage furnishes a wide array of online trading tools, facilitating trades in diverse trading instruments. These comprise foreign currencies, commodities, ETFs, indices, cryptocurrencies, among others.

The brokerage boasts a highly reputable brand, trusted by traders worldwide. To access the brokerage website, one would traditionally visit avafx.com, but it has now metamorphosed to avatrade.com. This revamped form enhances transaction quality and improves display functions. The Avatrade brokerage operates under the surveillance of the Central Bank of Ireland, JFSA of Japan, ASIC Australia, British Virgin Islands, and other authoritative entities. It's also regarded as the superior online trading application & platform for 2023.

Advantages:
  • Traded assets: forex, and 250 other asset instruments.
  • Supports 20 languages.
  • Trading platforms: MetaTrader4 and MT5.
  • Copytrading facilities.
  • Transaction signal features.
  • Hedging, scalping, and Auto trading features.
  • Transaction fee: $0.
Disadvantages:
  • Minimum deposit of 100 USD or approximately 1.4 million.
  • Leverage facilities of 1:400, potential for improvement.
  • Trading access speed could be enhanced.

Capital.com – A Reliable CFD Stock and Crypto Trading Platform

Note of caution: “83.45% of retail investor accounts lose money when trading CFDs with this provider. One must consider whether they can afford the high risk of losing their funds.”

Another top-tier online trading platform and application for 2023 is Capital.com. As we are all aware, Capital.com is one of the multi-asset CFD companies or brokers providing stock, crypto, and other asset instruments, fully regulated by the European Security and Market Administration (ESMA), FCA, and CySEC. The reputation and credibility of this broker are unquestionable, as here, we will also gain extensive learning experience as professional foreign currency traders who have long been involved in the financial asset field. They will gladly share their knowledge and trading experiences with us, paving the way for our future success. Capital.com always ensures our satisfaction and comfort.

Advantages:
  • Traded assets: CFDs for multi-assets: stocks, forex, crypto, ETF, etc.
  • Utilized in more than 50 countries worldwide.
  • Minimum deposit of 20 USD.
  • Artificial Intelligence trading platform
  • Free educational facilities
  • Transactions are performed in real time.
  • Relatively small transaction and withdrawal fees
Disadvantages:

  • Leverage limit is not maximized, only 1:200.
Read More:

Instaforex – The Premier Online Forex Trading Application

Instaforex, also known as InstaTrading Ltd, boasts numerous merits, empowering novice traders to engage in trading with aplomb. It is an integral part of the Russian corporate conglomerate, InstaForex. This international online brokerage firm has enjoyed a robust reputation globally. Presently, InstaForex has furnished an intuitive trading platform, amassing over 500,000 clients across 50 different nations. This brokerage firm's inception dates back to the year 2009.

Advantages:
  • The trading assets are chiefly centered around forex.
  • Provision of up to 100% deposit bonus.
  • Swift and straightforward registration access.
  • Deposits and withdrawals can be accomplished via local banks such as BCA, Mandiri, and others.
  • Offers Rebate facilities to achieve larger income.
  • Favorable leverage of 1:1000.
  • Minimum deposit stands at just 1 USD, making it suitable for beginners.
Drawbacks:
  • The verification process can be quite stringent.

FBS – The Premier Forex Trading Company in Indonesia

FBS, the financial brokerage service, has solidified its status as one of the world's most renowned brokers. Among the trading community, we hold a reputation for being highly reliable, hence offering a wealth of options. Those who align themselves with FBS are unlikely to harbour any regret. The trading facilities provided are of superior quality, boasting an expansive network. Every trader has the potential to reap significant benefits from forex trading. The broker proffers a variety of account types, which could potentially be the optimal choice for traders.

Advantages:
  • Assets traded: forex, crypto, etc.
  • Effortless registration
  • Minimum deposit of a mere 1 USD.
  • Deposit and withdrawal methods compatible with local banks.
  • A broker with an esteemed brand
  • Leverage reaching up to 1:3000, suitable for traders with minimal capital.
  • Exempt from commission fees.
Disadvantages:
  • Deposits incur a fee.
  • Regulated internationally, but yet to be in Indonesia.

FXCM

Having been established in New York, USA, in the year 1999, FXCM stands as one of the most seasoned brokers globally. In its inception, FXCM was christened "Shlish Capital Markets," a title that has since undergone transformation. This broker has broadened its business wings, one notable success being its operations in the United Kingdom. Additionally, FXCM has embarked on expansion to other countries. By the year 2010, FXCM (FXCM) had ascended to become one of the world's largest brokers, boasting a client base exceeding 200,000. Furthermore, FXCM made a successful Initial Public Offering (IPO), earning a listing on the New York Stock Exchange (NYSE).

Advantages:

  • The minimum deposit requirement stands at 50 USD.
  • Offers low spreads.
  • Accepts payment methods supported by local banks.
  • Provides a user-friendly platform.
Limitations:
  • The leverage is capped at 1:400.
  • A 5% interest is charged for deposits not meeting investment criteria.

What is trading? A definitive guide, types and tips

Engaging in the act of trading involves the buying and selling of assets with the sole intent of accruing profit, thereby addressing the question, 'What constitutes trading?'. In the realm of financial markets, trading encapsulates shares, commodities, and currencies. The execution of a trade can occur through an exchange or via the Over the Counter (OTC) method. 

An exchange represents a platform where brokers orchestrate the trading of diverse financial instruments in the market for their clientele. Predominantly, large-scale organizations opt for the stock exchange methodology. An OTC trade transpires directly between two parties, devoid of intermediaries. OTC trading constitutes a less formal procedure, granting both parties the liberty to finalize the trade through means such as email or telephonic conversation.

In conventional scenarios, stockbrokers take on the role of purchasing, selling, and trading stock on behalf of their clients. 

They provide insights regarding the stocks to procure and the duration to retain their position, contingent upon their clients' long-term objectives. In recent times, we have witnessed a rising trend of individuals with minimal professional trading experience taking the initiative to self-educate on the intricacies of trading and investing through channels beyond the conventional stock exchange.