Disclaimer: The text below is a publicity article that was not written by Cryptonews.com reporters.
It is quite rare to have a short-term asset trading platform like TurboXBT, with a full suite of borderline features to give users instant profits on their trades. In reality, there are many trading platforms and many more are being rolled out this year, and choosing which one to trade with is a daunting task that every trader should seriously consider.
Before exploring the key factors to consider when choosing the best trading platform in 2022, let’s explore the various types of trading platforms that exist today.
The different types of trading platform
The evolution of digital asset trading has paved the way for a number of innovative trading platforms today. Some of them include;
- Synthetic Asset Trading Platforms
Synthetic asset trading platforms are dedicated exchanges for virtual assets that track the exact prices of real-world assets. TurboXBT is an important name in this regard.
- Derivatives Exchanges: These are platforms that are defined more by the nature of the products they offer than by the timing of the transactions initiated. Examples of derivatives trading include futures, options and swaps and major platforms for these include the Chicago Mercantile Exchange and the FTX Derivatives Exchange.
- Forex brokerage:
There are also dedicated trading platforms for trading foreign currencies such as USD/GBP or JPY/USD pairs respectively.
Although there are many more specialized trading platforms, most of them catering to commodities such as precious metals, crude oil, etc., these platforms are generally categorized into two, namely;
- Short-term trading platforms are trading outfits like TurboXBT where digital asset trading occurs or spans seconds and ends in minutes. Traders enter and exit their trading positions in a relatively short period of time. Much like TurboXBT, each of the aforementioned specialty trading products are infused into the platform, making it one of the most robust exchanges to date.
- Long-term trading platforms such as centralized crypto exchanges where users can enter a trade and stay there for as long as they want.
With these things established, let’s look at the main factors that users should pay attention to when looking for a platform to pitch tents.
Factors that define a good trading platform
- Security: Although there are a few crucial factors to note, security is a key factor that should be considered before choosing a platform to trade with.
- Ease of use and variety of products: This is an especially crucial factor for new users, as ease of use is crucial in adapting them to the trading platform and the ecosystem in general.
- Profitability and commercial resources: the best platforms are those with impressive risk-reward ratios. This has to balance out so that the whole trading effort is worth it for the traders.
Issues such as data security, asset security and related concerns should stay at the forefront of a user’s mind while exploring a range of trading platforms to pitch tents with. . Using TurboXBT for example, the platform wields bank-grade security infrastructure to protect user funds.
As a comprehensive trading platform, TurboXBT uses a very unique strategy to protect user data. The platform requires no Know Your Customer (KYC) documentation from new customers, automatically eliminating the risk of any potential data breaches.
Ease of use and variety of products
A platform that is not easy to use for both new and experienced traders can be described as a platform that is not suitable for widespread adoption. In other words, it is relevant for a platform to be very easy to use in order to make all users happy. TurboXBT is designed as a simplified brokerage in more ways than one.
Getting started with trading assets on the platform can be very simple, including following the prompt below;
The user will need to log into their dashboard and fund their trading account. Once down, trades can be initiated with any of the trading pairs such as the BTC/USDT pair, a user can select the amount of crypto/fiat and time frame they want on the GUI. The trade is then set in motion when users select the green arrow (for up) or the red arrow (for down). The process ends at the end of the contract period and the revenue depends on the success of the user’s choices.
A nice highlight of TurboXBT is that it supports a diverse number of tradable assets totaling 17 and spanning digital assets, foreign currencies, indices, and commodities. These assets are spread over 38 trading pairs respectively.
Profitability and commercial resources
These are closely related to each other, as the best trading platforms often have resources that their users can usually fall back on to help them extract as much value as possible from the platform.
Convincingly, TurboXBT offers as much proportional return as the risks it poses, becoming a standard for other trading platforms. On TurboXBT, traders can earn up to 90% on a single trade and this impressive performance is made possible by the integration of demo accounts for all traders.
With the demo, new and old clients can practice their strategies and gain a higher level of confidence before committing real funds to the platform. Adhering to this model has proven to be beneficial in the long run.
Key points to remember
It is inherently possible to study all platforms and identify a few that verify all of these factors highlighted over the course of this article.
However, the best platforms are those that generally meet a user’s needs. In other words, users should have their own baseline expectations of a trading platform and advance their research based on those predefined expectations. The more an exchange verifies these expectations, the more suitable this platform is for the user.
With the multitude of trading platforms serving short-term traders, TurboXBT is a name worth trying, and thanks to the provisions of the demo account, users can get started without any risk.