Online brokers are offering better features today, even as fierce competition leads them to charge less than ever before. More sophisticated software-based trading tools are emerging as an alternative to traditional Web site transactions.
Recently there has been a dramatic increase in the tools made available to average traders. Without the latest technology, brokers with browser-based platforms may not be the preferred choice anymore.
Advanced trading methods warrant the use of powerful trading software. For example, investors may want to implement “trailing stop” orders, which allow them to set limits on the maximum possible loss without setting a limit on the maximum possible gain. This removes the need for an investor to monitor the investment on an ongoing basis.
Software has clear advantages over browser-based trading. RushTrade’s Direct Plus software-based trading platform, for example, provides real-time market data and many features that allow strategic control of a portfolio.
Perhaps one of the most intriguing features of the software is the ability to create and automate “trade strategies.” Using...