In this lesson in the online CFD guide we start by saying that to learn how to use a CFD trading platform you first need to understand what it is, what it is for and what it allows you to do. First of all, the trading platform is software that you can access via the web or after installing it on your computer or portable device. This software allows you to trade online, placing orders or placing orders with the broker.

The platform is therefore what allows the user to communicate with the broker. For example, you can ask the platform to place an order to buy, or sell, or any other type of order.

What can I do with the CFD trading platform?

In particular, here are the main types of orders you can place with CFD trading platforms:

• Long (buy, to place orders upwards, for bullish price forecasts)
• Short (sale, to place orders downwards, for downward price forecasts)
• Stop Loss:to set a maximum loss limit reached at which the platform will automatically close the position
• Stop Limit or Take Profit: to set a profit share at which the platform will automatically close the position.
• Trailing Stop: a type of advanced stop that automatically updates the stop loss if the market moves in your favour.
• Pre-order: an order that allows you to open a buy or sell position automatically if the price reaches a certain level.

The importance of a good trading platform

The choice of a trading platform, if you take into account all the points listed in the previous paragraph, is very important, poundamental. In fact, all those values are daily bread for those who want to trade and a good platform that constantly and smoothly updates all data in real time, becomes an essential component of the trader’s instruments.

On our website, in the section dedicated to trading platforms, you can find some of the best authorized trading software in GB and also very well known. You have probably already heard of them. Feel free to choose the one or the ones that convince you the most. In this regard, we refer you to the page with our broker reviews, where you can read information about them and get a personal idea about them.

Where do we start?

To start using a CFD trading platform, you must first register an account with the broker. After choosing one you like, register by opening a demo account or a real account, depending on whether you wish to start with virtual or real money. If you are a novice, it is much better to start with a demo account.