Does trading success depend on the quality of a Forex broker’s platform?

When shopping around for a good deal you will see that the majority of platform providers out there claim that their platform is the best. Other than the low spreads and the great customer service most Forex brokers claim that their platform will actually help you achieve profit in the market. They are certainly not shy to make this known to everybody either. Some even have TV adverts showing successful traders being thankful to the platform itself.

Our question is – how exactly can a platform help you become a profitable trader? Surely the simple answer is – it cannot. Trading decisions are not made by the platform. They are made by the trader who is utilising that platform. With this in mind, it is crazy to think that a platform can be the reason for success. Unfortunately, there are a lot of newcomers to the market that fall for this trap. As soon as they hear that a platform will help them succeed, they sign up straight away. The thought of doing less work and utilising ‘help’ seems to be the best way to go, despite the fact that all sign ups come with a clause stating that the platform provider will not be responsible for any losses incurred by the trader. If they are so sure they can help, why is there a clause? Surely there should be a money back guarantee if losses are made.

The role of the trading platform

There are many platforms around and most of them are actually quite good. It can even be very hard to find one that is not efficient enough to use in the Forex market. However, the role of the platform is quite simple – to make trading as seamless as possible. This includes the adding of indicators, switching from chart to chart or simply placing an order. If the basic elements of trading cannot be undertaken then the platform should be scrapped. Forex market is a fast moving market so the platform should not compromise the trader’s response time.

The role of the trader

The trader is the only person responsible for the profit or loss in the Forex market. It has nothing to do with Forex brokers or their trading platform. All decisions are manual and made by the trader. No decisions are made by the platform unless trading robots are programmed into it. The success or the failure can only be achieved or blamed on the trader who is in-charge of all decisions concerned with trading.

If you are new to trading, please ensure that you do not fall for the marketing campaigns that the majority of Forex brokers undertake. If an offer seems too good to be true, then it probably is. It is only you that can provide the path to trading success and it is only you who is responsible if you fail. At least this way, the level of failure can be controlled and the level of success can be improved.