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The best trading platforms in 2024

Hello everyone,

It is with great pleasure that I present to you today a comprehensive guide on the best trading platforms in 2024. Four years ago, I started my journey in the trading world, beginning with the DAX before diving into the American markets. I tested many platforms before finding the one that truly suited me. This process takes time, as it requires several days or even weeks to become truly familiar with a platform. I spent weeks, even months, exploring each tool. For a beginner, this can seem complex. I would have appreciated having a guide at the start. That's why I'm providing you with this detailed article where I will review all the essential platforms of the moment, to help you choose the one that will best suit your trading style.

This article aims to introduce you to the world of trading by presenting essential trading platforms that every beginner should know. Whether you're simply curious about learning trading or want to deepen your knowledge, this article is for you. Trading is a vast and complex world, rich in opportunities but also in risks. It's essential to understand the basics before venturing into it.

What is a trading platform?

Let me explain what a trading platform is. Imagine it as the cockpit of a fighter jet. It allows you to navigate financial markets, track trends, and place your orders. It gives you real-time control over your financial operations. Each platform has its specifics, its advantages, and its disadvantages. The right choice will depend on your needs and trading style.

Why use a trading platform?

Without a reliable trading platform, even the most skilled trader would be helpless. Trading platforms allow you to analyze markets, track price movements in real time, and place orders effectively and accurately. In short, they are indispensable for operating strategically and informed in financial markets.

How to choose your trading platform?

Choosing a trading platform is not a decision to take lightly. Just like choosing a car, several factors must be considered. Not only your level of experience and trading objectives, but above all your trading style. Indeed, each trading style has its specific requirements. For example, if you're scalping, you'll need a platform capable of processing a large number of orders in a very short time, with minimal latency. If you're a long-term trader, you'll need a platform with excellent technical and fundamental analysis tools.

To assist you in your choice, this guide will review several popular platforms. I will give you my objective opinion on each, highlighting their strengths and weaknesses. This way, you will be better prepared to make an informed choice. Now, let's dive straight into the heart of the matter!

Presentation of main trading platforms

TradingView

Logo TradingView

TradingView is one of the most popular platforms in 2024. Easy to use, it offers high-quality interactive charts and a multitude of technical indicators. Its interface is very intuitive and its design is modern. Additionally, it benefits from a dynamic community where traders can exchange ideas and strategies. It's like a social network dedicated to trading. Ideal for beginners, the platform offers a free trial, then paid subscriptions for more features. However, if you wish to use it for free, it's possible with limited features.

You can connect streams directly into this platform. However, I mainly recommend it for chart analysis and find it less suitable for short-term trading.

Sierra Chart

Logo Sierra Chart

Sierra Chart is the professional platform par excellence. It is appreciated for its advanced trading features, extensive customization, and unquestionable reliability. I particularly appreciate its adaptability to different trading strategies. It is offered at a very competitive monthly rate.

For me, it is the best platform currently on the market, with an unbeatable quality-price ratio. It's the one I use daily, especially for scalping with the order book. This platform is complex to master, but once you've got it, you can configure it almost infinitely. The possibilities are immense. I recommend it for any trading style, but I advise against beginners starting with it.

Quantower

Logo Quantower

Quantower is a modern platform, equipped with robust technology, allowing access to multiple markets from a single interface. It has advanced technical analysis tools and offers real-time data. Its price varies based on desired features, but you can get it for free by opening an account with certain broker partners.

I find it particularly suitable for scalping, especially with its very detailed heatmap. Also, it offers analysis tools for options that are absolutely incredible.

Jigsaw

Logo Jigsaw

Jigsaw is a platform specialized in order flow analysis and order book trading. I particularly appreciate its advanced tools that help decode market activity in real time. It is offered at a unique rate with a lifetime license. To me, it is the best platform for order book trading.

This platform is almost exclusively reserved for scalpers using the order book and remains quite expensive. It is not suitable for long-term trading and chart analysis.

Trading Technologies

Logo Trading Technologies

Trading Technologies (TT) is an essential platform, particularly suited for scalpers due to its advanced order book functionality. Indeed, it is recognized as one of the first platforms to introduce the concept of electronic order book.

This platform combines technological innovation with ease of use, offering an efficient and responsive trading experience. However, its cost is relatively high, which generally reserves it for professional traders.

MetaTrader

Logo MetaTrader

MetaTrader is a global benchmark. Both versions (MT4 and MT5) offer technical analysis tools, automated trading robots (EA), and a customizable interface. The platforms are free but are generally used by CFD and Forex brokers.

I recommend this platform especially to beginners and those interested in algorithmic trading. I advise against it for professionals, as it is difficult to access futures markets. Additionally, the software is open source, which may raise certain security concerns.

Trading Work Station (TWS)

Logo Trading Work Station

Trading Work Station (TWS) is a professional platform offered by Interactive Brokers, a reputed and solid broker. TWS provides direct access to a multitude of international financial markets and a range of trading and analysis tools. I highly recommend it for long-term trading and especially if you want to trade stocks.

It's the one I personally use exclusively for the stock market. The platform is also particularly suited for options trading.

NinjaTrader

Logo NinjaTrader

NinjaTrader is an advanced platform, offering unique features for trading automation, market analysis, and strategy backtesting. It is particularly popular among active and algorithmic traders. It offers a lifetime license or a monthly subscription.

The platform is powerful but can be complex for beginners. It is ideal for traders who wish to develop automated strategies and test their ideas before applying them to real markets.

ProRealTime

Logo ProRealTime

Finally, ProRealTime is a trading platform offering very high-quality charts, advanced technical analysis tools, and the ability to create, test, and automate trading strategies. I find it very attractive, particularly because of its user-friendly interface and ease of use. The platform is free with delayed data, but paid versions offer more features and real-time data.

I particularly recommend it for day traders, stock traders, and long-term traders. It is also highly appreciated for algorithmic trading due to its proprietary programming language.

Summary table

Here is a simplified table comparing some features of each platform:

Platform Price Specialties Level Type of Trading
TradingView Free to $59.95/month Interactive Charts, Community Beginner to Pro Technical Analysis, Intraday, Long-term
Sierra Chart $26/month Advanced trading, customization Intermediate to Pro Order flow, Scalping
Quantower Free to $79/month Multi-markets, advanced tools Intermediate to Pro Scalping, Options, Crypto
Jigsaw $579 (lifetime license) Order book, Order flow Advanced to Pro Scalping
Trading Technologies $50 to $400/month Order Book, Speed Pro Scalping, Futures
MetaTrader 4/5 Free Forex, Trading Robots Beginner to Intermediate Forex, Intraday
TWS (Interactive Brokers) Free Global Access, Pro Tools Intermediate to Pro Stocks, Options, Long term
NinjaTrader Free to $99/month or $1499 (license) Automation, Backtesting Intermediate to Pro Futures, Forex, Automation
ProRealTime Free to €79/month Charts, Algo trading Beginner to Pro Stocks, CFDs, Forex

⚠️ Note that prices may vary depending on the features chosen or special offers.

Conclusion

In conclusion, I would like to thank you for taking the time to read this article on the best trading platforms in 2024. I hope the information and advice I've presented will be useful in your trading journey. Remember, there is no 'best' universal trading platform—there is the one that best suits your needs, trading style, and level of expertise.

Choosing the right platform is a crucial step, but remember that success in trading is not solely about the tool you use. Market knowledge, a well-defined trading strategy, discipline, and risk management are just as important.

Ultimately, trading is a journey of constant learning, adaptation, and personal growth. Take the time to train, experiment, and find what works best for you.

To continue developing your skills and access more in-depth resources:

🚀 Discover the best chartbooks and trading courses on my website: https://sierraonshop.com/
🎥 Join my YouTube channel so you don't miss my latest training videos, tips, and market analyses: https://www.youtube.com/@sierraonshoptrading