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A trading terminal is a program installed on a user’s computer and giving him access to trading on financial markets (stock exchange, Forex, etc.). For a long time already, all securities traded on the main world exchanges have passed from paper to electronic form, so trading in them quite naturally moved to trading terminals.

In fact, the trading terminal acts as your broker. It allows you to place buy or sell orders, place stop loss and take profit orders. In addition, most modern trading terminals are equipped with tools for technical analysis of charts of financial instruments.

The emergence of electronic commerce, together with the introduction of trading terminals, contributed to the democratization of such an initially respectable type of activity as the stock exchange game. Nowadays, almost anyone who wants to have free funds, time and access to the Internet can install a trading terminal and start trading.

Classification of trading terminals

Depending on how the terminal works, through installation on the user’s computer or directly on the broker’s server, two main types of trading terminals can be distinguished: Installed as a program on a trader’s device (computer, tablet, smartphone);

  • WEB terminal

The trading terminal installed on a trader’s computer is a computer program designed specifically for the needs of brokers providing services for accessing financial markets. To install it, you just need to download it from the website of the broker you intend to work with in the future. The installation process is usually very simple and does not require any special knowledge in the IT field from the trader (you just need to run the installation file and then follow the detailed instructions that appear).

The WEB terminal is absolutely the same program as in the previous case, with the exception that it is installed on a public server on the Internet. That is, there is no need to install it on your computer. In order to use the WEB-terminal, you just need to go to the corresponding address (the URL at which it is located on the network).

The undoubted advantage of the WEB-terminal is its simplicity in terms of the fact that you do not need to download and install it, but you can log in from any device connected to the global network anywhere in the world. However, unlike the installed version, the WEB-terminal may not provide the speed of work that is sometimes necessary for intraday traders (and especially scalpers). This is mainly due to the fact that the server on which it is installed works simultaneously with a huge number of clients and, in addition to the purely technical execution of their requests, it also bears such a load as drawing graphs and ensuring the operation of the interface.

From the point of view of the type of device on which the trading terminal is installed, they can be classified as follows:

  • Desktop terminal

  • Mobile terminal

Desktop versions are installed on stationary computers and laptops and, as a rule, have a much wider range of capabilities compared to their mobile versions. They usually contain a huge variety of market technical analysis tools (support and resistance lines, trend lines, Fibonacci levels, etc., etc.) that allow this analysis to be carried out directly on the displayed charts.

In addition, in the desktop versions, it is possible to attach any indicators to the charts, most of which are already in the built-in library, and the missing ones can be downloaded on the Internet or even written by yourself. To write indicators (as well as trading robots), the desktop version can have a built-in programming language (for example, in MetaTrader it is the MQL language). Installing trading robots, as a rule, is also a task feasible only for desktop versions of a trading terminal.

Many desktop trading terminals contain such an indispensable tool for a trader as a strategy tester. Thanks to this tester, you can run any pre-defined algorithm of actions (a trading strategy translated into a language that the terminal can understand) on any periods of historical data.

The mobile versions of trading terminals have the indisputable advantage that they allow the trader to be always aware of the current state of affairs on the market. They are installed on mobile devices (tablets or smartphones) and do not have as wide functionality as their desktop counterparts, but they have such a necessary minimum of functions as, for example:

  1. Vewing price charts;
  2. Opening and closing positions;
  3. Editing open positions (placing and transferring stop loss and take profit orders, editing pending orders).

Usually, the main work is carried out on desktop trading terminals, and its mobile version is used only in extreme cases (for example, when there is no access to a computer, and at the same time it is necessary to urgently correct your positions).

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