As you probably know, I really like Oanda and they are the only broker I use at this point. The best things about Oanda is that they have excellent execution, good spreads and they are a solid company.
The downside is that sometimes their tech takes a little while to catch up to the rest of the industry. A recent example is their iPad app. My app kept on crashing and was totally unusable until only a couple of months ago.
It also took them awhile to get on the Metatrader bandwagon and for awhile, the only option was their FXTrade platform that runs on Java. Metatrader is great for charting and indicators, but there are still some reasons to use the FXTrade platform:
- Faster execution – If you are a day trader or scalper
- Super customizeable lot size – You can still trade down to 1 currency unit on the FXTrade platform
- Available on all computers with Java – You don’t have to worry about having Windows to trade. You could set it up on a Ubuntu (free operating system) computer and would be good to go.
But the FXTrade platform can be a little confusing when you are first starting out. It seems like they pick the worst settings and ugliest colors as the default.
So let’s learn how to fix that and make the platform a joy to use, instead of a chore. Yes, it can be fun…
In this video, I go through all of the settings in the platform and how you can make it look and behave the way you want. I wish that I had something like this when I was first starting out.
Is there anything that you would add to this tutorial? What do you think about the FXTrade platform? Leave a comment below and let us know.