What is a Forex Trading Platform?
Now that we have talked about opening an account with a forex broker, let’s talk about another area where brokers may differ, and that is
with respect to markets and products.
Markets
Each broker you encounter will offer a different selection of markets. These are the assets that are available to trade.
Some types of assets are very common and are pretty much ubiquitously available among brokers. These include, for example, major currency pairs like GBP/JPY or EUR/USD.
Other financial instruments may be more obscure, and may not be available to trade everywhere.
Here are some of the different categories of assets you can find to trade on forex websites:
Currency pairs: You are probably signing up for a forex account mainly to trade foreign exchange currency pairs. Examples
include EUR/USD, GBP/USD, USD/JPY, and so forth. Again, major pairs like these are almost universally available. But some sites
might offer more exotic pairs like USD/MXN or EUR/HUF. Exotic pairs tend to feature more whipsaws and unpredictability, but
some strategies are built around them.
Cryptocurrencies: On some websites, you can trade crypto pairs as well, for instance, ETHUSD or LTCUSD.
Commodities: Want to try your hand at trading commodities? Precious metals, oil, and soft commodities are commonly available
To trade on FX sites. Some examples of soft commodities include orange juice, cotton, cocoa, and coffee.                                                                                                                                                                                                                                                                                             
Along with a range of different trading markets, forex brokers also may differ in terms of the selection of trading products they offer.
Basic currency trading is one type of trading product. Here are some others you might encounter:
Binary options: With these simple trading products, you predict whether the price of a given asset will be above or below a
certain threshold at the expiry time.
Social trading/copy trading: With this feature, you can see how other investors are trading for one or more assets, and then
duplicate those trades in your own account. On some sites, you can do this manually, while on others you can do it automatically.
You might also be able to choose whether to manually copy trades or auto-copy trades.
PAMM: This stands for “percentage allocation management module” or “percentage allocation money management.” If you do
not want to plan and execute your own trades, you can allow a money manager to do it on your behalf through PAMM trading