Being a new trader, a potential investor lacks confidence in trading because of less information about the capital market. He wants to have more and more knowledge about the trading, working and mechanism of capital market so that he can confidently trade. There are many aspects and factors that one needs to understand before he go for online trading. Trading platforms is a crucial factor among others where activities beginning from placing order to the stock analysis take place.
While selecting a stock trading platform, one needs to focus on various aspects of trading whether it is technical or it is functional as these are the aspects responsible for making the activity of trading easy and quite simple. There are various certain parameters which should be considered and taken care of while selecting the most appropriate trading platform.
There are many good trading platforms voted as best by the investors. Among them Fox Trader, Zerodha Pi, and Trade Tiger are voted as top 3 best Online Stock Trading Platforms in India.
There are various reasons why Fox trader by Wisdom Capital is credited the best one. Following are the factors written which makes Fox traders ahead of others.
Technical Efficacy- When a Trading Platform is judged on the basis of Technical Efficacy, Factors like memory usage, CPU usage and Network Usage is considered. Fox trader uses the minimum memory space which makes the computer work fast on orders. It also makes an efficient use of RAM and it is highly optimized for the Network usage which helps in quick movement of data between stations and servers.
The data is quite useful when inferences or analysis has to be done. Fox Trader provides a better way for data analysis and to have market insights because it uses beautifully visualized conventional charts, graphs and order flows. These conventional charts show the market sentiments and its correlation with respect to prices. These charts have features like Relative strength indicator and Moving Average.
In Relative Strength Indicator, overall momentum of a specific stock is graphically presented with respect to the instant change in price. It gives a better presentation of movement due to temporary over-purchase or over-sale. On the other hand moving average represents a noise on price chart which gives a better idea of movement in prices. The upward movement in the moving average chart shows increase in prices and downward movement in moving average chart shows decrease in prices. The data in moving average chart is shown for a specific time period.
Trading platform like Fox trader and trade tiger gives you an option of calculator whereas PI doesn’t give you such option. Fox trader also gives an option for changing default parameters of Nifty. The Price alert and advisory feature in Fox trader makes it different and better from other Trading Platforms.
So based on various factors like technical efficacy, market watch, charts, option calculator, price alert and advisory, Fox Trader will be given the topmost rank followed by Zerodha PI with Rank 2 and Trade Tiger at rank 3.