Best stock trading platform in the Philippines
Thanks to modern software developed by brokerage companies and called "online trading platform", investing has become possible online, anytime, anywhere. Competing with each other, brokerage companies are offering more and more new enhancements, tools and features on their platforms. The trader's task is to choose the best online platform from the variety offered. Interviews with experienced traders have shown that traders have different criteria when choosing a trading platform, based on individual preferences and investment methods. And yet there are points that are unanimously important to all respondents.
We have analysed the situation in the brokerage market and based on these points we have chosen the best trading platform in the Philippines in our opinion.
Conventionally, all the points can be divided into several main groups and these are:
- Simple and user-friendly interface, flexibility of personal settings.
Let us take a closer look at why we believe that IQ Option is the best online trading platform in the Philippines.
Of course, the first question any potential trader asks is how safe it is to invest using this particular trading platform. Yes, the choice of a broker is a very important question as you are entrusting them with your funds.
So when choosing a stock market intermediary, ask whether it has a license to conduct brokerage activities and what kind of business reputation and experience this broker has in the stock market.
The broker we have chosen is licensed and has proven itself only from the best side over the years. The platform has been named the best and most innovative in the industry more than once.
The platform has won the Mobile Star Awards - the world's largest annual award for mobile innovation and software solutions. In 2016, the organisation recognised the shopping app as the best in its category, praising its efficiency and impeccable design. In the same year, the same app won the WMA award, awarded by The Web marketing Association for high standards of web development.
In 2017, the platform received the Seal of Excellence Award, the Communicator Awards, the highest award given by the Academy of Interactive and Visual Arts, which recognises those who raise industry standards for quality and excellence. The judging panel judged the shopping app the best in the finance category.
And many other awards, including: "Best Trading Platform" (Forex Awards,2014), "World's Leading Binary Options Broker" and "Most Reliable Binary Options Broker" (MasterForex-V, 201), "Best Binary Options Broker in Europe" (2015, Global banking & Finance Review), "Most Innovative Binary Options Platform" (2015, IFM Awards), "Best Mobile Trading Platform" (2015, IFM Awards) and others.
This number of awards from globally recognised organisations speaks for itself: you can trust this platform.
Simplicity and ease of use
Despite all the technology and versatility, the trading platform is very user-friendly and intuitive to use. First of all, registration on the platform is very simple. At the start you only need a minimum set of personal details in order to start trading. The same goes for the basic and essential functions like making a deposit and withdrawing money. You'll find a separate option for every transaction on the platform, which will allow you to see all of your deposit and withdrawal options. What's really nice is the fees. We don't charge any additional fees for deposits and withdrawals. What's more, you'll be pleased with the speed of depositing: the transactions take place almost instantly. You will also like the low transaction limits - the minimum deposit amount is just $10, while the minimum withdrawal amount is only $2.
The platform designers also took care of your comfort while you were using the platform. A lot of customization enables you to change the colour and even background of the interface, customize the size of the windows and types of charts showing asset quotes. You can display the news feed on the platform or hide it in a separate section.
The platform is flexible in its settings, you can open several windows at the same time and select different timeframes in each window, for example a year, a month and a day to compare the behaviour of the quote chart over different time frames. This is very convenient and gives a clear picture for analysis.
All the options are signed up and all the information on the platform is easy to find, even for a newbie. This is what we call the "intuitive interface". In this respect the platform lives up to this definition 100%.
The platform is equipped with many tools for convenient trading and analysis.
The most popular trading tools among traders are stop loss and take profit. You can use these tools to significantly secure your trades.
A stop loss is an instruction to the broker to close a trade when a certain level of price loss is reached. For example, you open a trade to buy an asset at $50. Apart from the probability of growth, the asset can also lose in price, in which case your balance will be negative, for example -$35. If you do not want to lose more than $7 from a trade, you can set a Stop Loss - the price level at which the trade will be automatically closed, fixing a minimum loss for you.
Stop Losses help traders to reduce risks in case of various technical failures. Suppose that at some moment trader's connection to trading service is interrupted. He cannot send orders to the broker's server, including orders to close a trade. If he took care of setting a Stop Loss beforehand, the broker will automatically close the transaction when the level is reached. But if the Stop Loss is never set, the loss can be much greater.
Take Profit is a type of pending order to close transaction when the price reaches a certain level - profit. If the price reaches Take Profit level, the trade will be closed automatically and the profit will be locked.
The value of this pending order is comparable to the value of Stop Loss. Traders cannot always watch the market without interruption and wait for the right moments. Finally, Take Profit is placed if the trader is concerned about the possibility of losing connection with the broker's server. In this case, such a pending order to close the position will be a kind of insurance.
Another tool is the multiplier, by applying which you activate the leverage action. With the help of leverage you can significantly increase your starting capital and thus the expected profit. However, you must also be aware that by using leverage your risk increases. Do not use leverage without prior trading experience.
You will also find a section on the platform called "Indicators". This section contains most of the technical analysis indicators known in the investment world. Using indicators on our platform is very convenient as you can combine two or more indicators at the same time, or work with just one. The indicator curve is superimposed directly on the price chart and you can clearly visualise the market situation.
Information is a trader's main weapon. To trade successfully, a trader should be able to analyze how certain events affect the prices of assets and, accordingly, make forecasts for the future. It is clear that for the analysis you need fresh and reliable information. The platform's developers did a great job. There is a "news" section right on the platform, where links to the latest news from recognized information sources are published non-stop. This keeps you informed about all economic and political events, which can directly or indirectly influence the price of an asset. In addition, you have the possibility to set up a news feed right on your desktop and view the news in the background, without distracting you from your work.
Talking about how informative the platform is, it is also worth mentioning that the platform has all the latest information on all the assets, namely the current price, trading chart, statistics for a certain period and so on.
If you still cannot find the information on the platform, you can ask the platform's support team by clicking on the red chat icon. Feedback is available around the clock in almost 20 languages - you can choose your preferred language, which is very convenient.
Other benefits of the platform include the availability of a mobile version, which synchronizes with the web version in real time; availability of a demo test account to conduct test operations without financial losses; chat on the platform, where you can exchange views and experiences with other traders, holding tournaments on the platform and so on.
IQ Option is one of the world's leading online trading platforms.
We believe it is the best online trading platform for stock trading in the Philippines.
Take the chance to trade a wide variety of assets using first-class tools and analysis. Join today and get a seamless, quality service.