Best Multi-Asset Trading Platforms Along with Their Pros and Cons!
Whether you’re new to trade or have been around for quite some time now, you can’t say you never heard about multi-asset trading. This kind of trading strategy allows you to invest and explore other assets and markets while also diversifying your portfolio.
Plus one of the main benefits of trading with multi-assets is how it minimizes risk due to the ability to hedge. So it’s an advantage to you no matter what kind of trader you are, whether you’re a day trader, scalper, swing trader, position trader and so on.
But of course, to efficiently trade with multi-asset, you need a reliable and great vessel to do so! There are tons of great platforms today that support multi-asset trading, but to get the best results and great trading experience, consider working with the top platforms today.
To help you with the search, below are some of the top trading platforms over the year up to today along with their merits and demerits!
Founded back in 1978 by Thomas Peterffy, this company was previously called T.P. & Co. This makes it on the list because it’s one of the firms around that’s just simply impressive with their extensive assets, accomplishments and great platform features.
This allows their traders access to over 150 markets supported in over 200 countries and has funding methods in 26 currencies! So whether you want to trade with options, currencies, bonds, futures, crypto and so on, they got you!
Plus it’s surely a reliable and well-capitalized platform to consider since they have over 2.01 million trusting clients and hold a daily value of 1.92 million dollars.
What are the pros and cons of Interactive Brokers?
Just like any other platforms you come across, you can bet they’ll always have their fair share of advantages & disadvantages and for Interactive Brokers, it’s down below:
- Orders on demand for every scenario imaginable.
- Unmatched variety of investable local and international assets.
- Impressive order execution.
- Trader Workstation (TWS) is customizable and pretty efficient.
- Reasonable margin interest rates.
- Has web, desktop and mobile versions.
- IBKR Lite clients cannot access IBKR’s SmartRouting.
- The tiered, modest fee-based pricing offered by IBKR might be a little puzzling.
- TWS can be hard to understand/learn.
- There is no automatic trading or backtesting of proprietary trading algorithms.
MT4 is one of the most popular trading platforms around the globe with its flexible trading conditions, fast execution and right raw spreads! This online platform specializes in retail foreign exchange and was developed back in 2005 by MetaQuotes Software Corp.
This trading platform is the one that introduces expert advisers (EAs) to the community of trade which is now practised in other platforms. MetaTrader 4’s main objective is to allow its users to create and automate complex trades using their platforms.
Additionally, it offers a variety of market indicators for consumers to utilise while placing trades. Although it may be used in many other markets, it is particularly helpful when it involves CFDs and forex trading.
They also have a demo account option that’s free to download, so it’s a platform that is surely beginner-friendly! MetaTrader 4 also has web, desktop and mobile versions for you to choose from.
What are the pros and cons of MetaTrader 4?
This world-popular trading platform also has come cons up its sleeve but to know if the pros and worth the cons, then check out its advantages and disadvantages below:
- Offers free-of-charge demo accounts.
- Able to automate transactions by your preferences.
- Offers live streaming on live accounts.
- Offers one-click trading.
- Offers expert advisors. (EAs)
- Doesn’t offer direct customer support.
- Not ideal for high-frequency trading.
- No automated feature for their web platform.
This platform was founded back in 1975 and later on, bought by Charles Schwab in 2019. TDA specialises in stocks such as common stocks, preferred stocks and so on but also offers other kinds of assets and markets.
This platform is ideal for beginner traders and traders who mostly trade through their mobile app due to this platform being easy to navigate and understand along with their impressive mobile trading application.
One of the top online brokers with comprehensive service is TD Ameritrade. The corporation keeps releasing new product upgrades, such as revisions to its already superb charting capability and a portfolio summary tool unveiled in 2022.
TD Ameritrade provides an experience that is as consistent as it gets in terms of performance, accessibility, and movement across mobile, desktop, and online platforms. Access to powerful backtest tools makes it easy to create customized trading strategies, and the platform’s excellent paper trading feature makes it possible to practice these techniques in action.
What are the pros and cons of TD Ameritrade?
Apart from its extensive list of perks traders and take advantage of, you can also expect this platform to also have its set of cons along with it. To know if its pros weigh out the cons, here’s a list of its advantages and disadvantages to consider:
- Is packed with quality educational resources.
- Offers top-notch trading tech and options analytics through its platforms.
- Efficient paper trading platform.
- Good client support.
- Vast selection of product offerings.
- Trading of cryptocurrencies is only permitted via OTC trusts, mutual funds, Bitcoin futures and EFTs.
- Fractional shares aren’t offered.
- Account fees can sometimes be high.