Best Futures Trading Platforms – A Complete Guide

Futures trading involves purchasing contracts to purchase and sell the underlying assets for certain prices in the near future. Futures enable traders to take part in price fluctuations of assets without having the actual assets. Traders are able to participate in the markets for futures through platforms that charge commissions and fees. The first step in beginning an adventure as a trader in the futures market is choosing an exchange platform.

This article will guide you through the elements to consider when selecting the best platform. Additionally, it will go through the most popular platforms available and their capabilities.

What to Consider When Choosing a Futures Trading Platform

Prior to deciding on a Futures Trading Platform it is essential to look at the following.

User-interface

The interface for users of the platform must be user-friendly enough to permit easy navigation and access to numerous tools. Additionally, it must be suited to your current level of expertise. For beginners, it is best to concentrate on finding an online platform that has a user-friendly interface. This will let you become familiar with the platform quickly and become comfortable when trading.

Education

A best futures platform includes some type of instruction to help new users. In addition, education about futures trading, such as blogs, articles, or tutorials is vital. So, new traders will be able to acquire expertise and knowledge using the same platform they are likely to utilize.

Charting Tools

Another aspect to take into consideration is the charting tools. The best futures trading platform will include a variety of charting tools to aid in technical analysis. These tools can include basic charts, lines as well as timeframes and indicators. The more tools you have available, the more angle of analysis.

Fundamental Analysis Tools

A good futures trading platform should include basic analysis tools. They will keep you informed about industry-specific news and economic, political and geopolitical developments. An essential tool for fundamental analysis can be the economic calendar. Additionally the use of a feature or tool to provide the most recent news in the industry would be a great idea.

Fees and Commissions

Each platform for futures sets its commissions and fees for trading. The fees are set based on the type of account. For instance, micro accounts are charged lower fees than conventional accounts. In addition, they can be paid annually or monthly.

However each contract is liable for the possibility of a commission per contract. If the commissions are greater and the commissions are lower, they’re less. You can also trade using no cost accounts and pay large commissions per transaction.

These expenses can have a huge impact on the overall performance of your trading. It is therefore crucial to select the platform with low commissions and fees. In this way, the costs of trading won’t eat the profits of your business.

Mobile Platform

It is crucial to find an online platform that permits users to utilize the mobile phone for trading. Mobile trading lets you trade from any place and at any point. It’s easy to carry around and makes sure you never lose out on lucrative trading opportunities. This is why it’s an important aspect to take into consideration when selecting the best futures trading platform.

Margins

Also, take into consideration the margins for various accounts that are offered by the platform for futures. It is the quantity that you have to deposit in order for trading contracts. It is typically determined as one percent of the total cost of the contract.

A tiny margin of 10% can allow you to make the most of the capital you have available for other transactions. In contrast larger margins of 50 percent, for instance, gives the trader less room particularly in the case of having a small amount of capital initially.

Best Futures Trading Platforms

The top five platforms for trading in futures comprise TradingView, NinjaTrader, and Tradovate.

TradingView

TradingView is well-known for its charting tools to aid in technical analysis. It also offers essential analysis tools like earnings, economic as well as dividend calendars. Additionally, the platform has an enormous community for social trading. The platform has both mobile apps as well as desktop apps. The platform does not have any educational resources. However, it compensates the lack of education with its social trading function, in which professional traders share analyses and insights on various assets. The traders are also able to share indicators as well as other tools for trading.

Commissions, fees, or margins charged by TradingView are dependent on the broker you choose to utilize. The platform also requires a minimum charge in the amount of $11.33 per month to access certain features.

NinjaTrader

NinjaTrader is a reputable platform for futures trading. It does not require a minimum investment required to begin trading. It also comes with more sophisticated trading tools, which makes it more suitable for traders with experience. It has micro and standard contracts available. Micro contract commissions will be $0.35 each side whereas the standard account commissions are $1.29 per side.

On the other hand traders have the option of a monthly or a lifetime fee, which will reduce the amount of commission they receive for trading. The most minimal margin offered on it is just $50.

NinjaTrader provides traders with an array of education resources. There, you can discover how to utilize the platform and gain information regarding futures trading. You can also find out how the trading of futures operates and how to analyze market trends.

Tradovate

In addition, Tradovate is well-suited for traders with a tight budget. It offers a greater variety of sizes for contracts. In addition to micro and standard accounts traders can choose small as well as nano-sized accounts. The nano account is one with the smallest size and comes with smaller commissions and fees. Additionally, it has the lowest margin requirement of $10.

Commissions and fees are similar to NinjaTrader for standard and micro accounts. For the smaller accounts fees are fixed at $0.20 on a free account. This decreases for paid accounts.

Furthermore, the platform provides traders an app on their mobile to trade. Additionally, it has educational resources such as videos that instruct investors how they can trade in the future.

Trading Futures with Very Little Risk

Once you have learned the proper methods for selecting the right platform for trading in futures You must proceed onto the following step. In this step, you will need to determine what amount of money you’ll utilize for trading. You can, however, think about getting financing so that you can trade with minimal risk for you.

Thanks to the FundingTicks program you are able to receive $50,000 in funds for futures trading on various platforms such as TradingView, NinjaTrader, and Tradovate. All you need to do is complete an evaluation to show that you are able to build an account. Then, you’ll be able to receive funding and earn 90% of the profits earned.