Advantages of Installing the Xcritical Trading Platform
With the availability of the Forex market being at the ready 24 hours a day and 7 days a week, many of the inexperienced get the common misconception that the activity within the market is active as well. This is not the case, however, and most seasoned traders tackle this by adjusting their work schedules to trade when market activity is at its peak.
Decades ago, the availability of essential Forex trading tools were limited to the Internet trader. However, with the advancements in modern technology and communications, the number of these tools and its availability has skyrocketed and is now available to anyone with a computer device and a stable internet connection. One of the main tools that almost every Forex brokers offer is the Trading Platform. Forex trading platforms are a set of technical and software tools for trading and analytics. The trading platform keeps the trader up to date with the state of the financial market, allows them to execute trading operations, and keeps a record of obligations between the client and the broker.
There are many trading platforms available, and most of them differ in terms of form and function. It is one of the most important aspects of entering the Forex market. Some can be specific to a certain function or order, some can have unique tools and services, some can simply be easy to use by beginners, and some can be complex and may need extensive knowledge and experience to use.
And as the number of trading platforms increases every year, it can be a daunting task to choose one and stick to it. This is especially true if a beginning trader is not familiar with what criteria to look out for. Meanwhile, the experienced trader would note down the list of features and how it would cater to their trading strategies – just as we will get into later in detail. The choice among the trading platforms to use, though depends solely on what the traders’ prefer. The preferences can range from the individual to the workplace habits of the trader.
Why xCritical is one of the best platforms
As of the moment, though, the Xcritical Platform is diverse in its scope and can cater to almost any needs of traders with all experiences, whether a novice or an expert. Here, we will look into the several factors that garner most of its recognition from traders around the world and how it complies within the criteria of a broker within the realms of a modern and reliable trading function.
Accuracy and Speed
This may perhaps be one important criterion that most traders seek than all else when considering a trading platform. According to the Xcritical, the platform is powerful enough to handle the capacity to render a maximum rate of processing tens of thousands of data – a must for active trading.
The range of the platform’s availability is only limited by how well a stable internet connection is at any given time. With this in mind, this makes the platform flexible with almost any computer or device ranging from personal desktop computers and laptops to smartphones and tablets.
The functionality of a trading platform can refer to how well equipped the trading platform is, especially when it comes to helping the users to avoid getting in a loss in their investment with the help of various analysis tools. These tools can be your standard indicators, along with how to use it or create your own. It can also be as simple as newsfeeds, price charts, and the ability to edit and customize viewing options.
However, simply having all sorts of indicators and options for these tools may seem overwhelming and at times, unnecessary. In fact, trading platforms crammed with excessive features, a typical trader would barely use more than half of it. Therefore, it is important for a trading platform only to have the necessary functions that are user-friendly and easy to grasp and use at its core.
When it comes to the Xcritical trading platform, it does its best to offer the most necessary functions in a very convenient manner to effectively carry out orders as well as enter and exit the market quickly and in time for certain economic events.
The overall look and feel of the interface are usually looked into when it comes to whether or not to use the trading platform or not. After all, a user of the platform would usually focus less on the aesthetics of the interface and would rather focus more on making money at every opportune moment. More often than not, some trading platforms tend to forget this aspect of a trading platform and would put features over the presentation. But some of the best Forex trading platforms may beg to differ. As a disorganized interface tends to greatly confuse traders, especially when mobile trading, it may be enough for them to opt-out of using the platform altogether. When buttons (especially the Buy / Sell buttons) are placed in an obvious and organized manner, it can make it less inconvenient for the trader to carry out orders or access analysis tools.
The developers of the Xcritical trading platform have strived to make it an eye-pleasing and convenient software to use. According to Xcritical, they had taken the time to make the platform effectively understandable to even a beginner in the market while simultaneously incorporating the necessary functions for the accounts holder to carry out orders.
It is obvious that the availability of trading tools can vary and depend on the broker’s take on the Forex market. This, in turn, would mean that the more extensive the list of tools, assets, and services available in the software, there would be more opportunities for activity from investors and account holders.
A few points to keep in mind however; when it comes to currency pairs, one should look for the variety of major, cross, and exotic currency pairs offered by the broker. A trading platform without a certain currency pair may not be substantially beneficial to a trader outside foreign to it, regardless of the broker’s reputation and technical insight.
When the Xcritical trading platform was developed, it took into account the preferences of real users from its massive databases and based the platform on it to provide access to a necessary assortment of currency pairs and commodities.
Ease of Input-Output of Funds
Traders who have earned a considerable profit while trading in the Forex market must be able to gain access to his funds quickly. And when it comes to maintaining a position in the market, traders must have a function to deposit funds into his/her trading account instantly. Traders mostly prefer when their trading platforms’ access feature is streamlined, accessible, and importantly, as lightning quick as possible.
That is why the Xcritical platform strives to meet the listed criteria, conveniently including a function to instantly withdraw and deposit money into their accounts as fast and safe as possible.
For all types of services available in the market, security is one of the main aspects that all customers demand. With the rapidly increasing number and availability of access to online Forex brokers, it can be quite difficult to find a broker that is authorized and regulated by those who conduct authority. By default, a broker must always guarantee the confidentiality of all the user’s calculations and financial transactions. This is why the Xcritical platform only provides platform access only to distinguished and reliable brokers who have proven its worth in the market and has exhibited transparency to its customer base from time and time again over the years. Before a brokerage firm would be given access, Xcritical would perform a very detailed background check to make sure there is no fraudulent behavior or scam operations are detected. In terms of being authorized and regulated, Xcritical is under the regulatory body of the Financial Conduct Authority (FCA).
While the Xcritical trading platforms allow the user to open and close deals as well as limit these two orders, the platform has employed a function that can help the trader monitor his or her entire trading activity and also control the transactions orders that have already been carried out. These convenient set of functions helps the trader to comfortably carry out the appropriate technical analysis and build effective trading strategies in their trading career.
Forex trading platforms are usually operated by the client using orders that go go under two types:
- Market Order: This is a “one click” order that is done manually by the user to either buy or sell an asset.
- Pending Orders: These are orders that will be automated once a market’s price moves in certain direction. It is basically an automated market order, opening or closing a certain position when certain conditions are met. The user would have to set the order parameters beforehand in order for it to be executed.
These platforms orders will be discussed further below:
Opening and Closing Orders
This is a type of market order. When using the Xcritical trading platform, the two main market order actions that the user must be familiar with is the buy and sells orders. This is also commonly known as opening and closing orders. An order is basically the actions done by a trader on the platform toward the broker to complete the procedure of either buying or selling an asset at a specific price.
The Xcritical platform allows a trader to be able to open and close market positions using the above orders. This fundamentally means that an open order will allow the user to open a position at the current price of the asset. An open order also allows the user to enter the market or exit it at a price that is either higher or lower than the current one.
When using the Xcritical trading platform, a trader is allowed to either purchase a market asset at its current ask price or sell it at its current bid price. There is a usual misconception for beginners who enter the market with these two options. A common rule of thumb to combat that is to buy low and sell high. This basically means that a buy order must be done when the ask price is low and a sell option must be done when the bid price is high.
In order to better orientate oneself with the Xcritical trading platform, it may be worthwhile to consider the various types of pending orders as these would be the types of orders traders would frequently use.
Here, we will look into the types of editing orders that the Xcritical platform uses.
Buy Limit Order
This would be an order to purchase an asset when the ask price rises to a customized value the trader had set. This order is automated in the Xcritical platform.
Buy Stop Order
This is an order that would start to purchase an asset when the ask price drops to a customized value the trader had set. This value can be assumed by taking into account the price reduction in the future.
Sell Limit Order
This would be an order to sell an asset when the bid price rises to a customized value the trader had set. This order is automated in the Xcritical platform.
Sell Stop Order
This is an order that would start to purchase an asset when the bid price reaches a customized value the trader had set. This order placed is based by predicting price reduction in the future – lower than the current price.
This type of order has been a popular function amongst traders due to its effectiveness. These types of order can be extremely beneficial to the trader especially if they do not want to lose more than they are willing to risk. Stop loss orders are divided into:
- Stop Loss
- Take Profit
Using these orders would go under the rule of thumb were the ratio of Stop Loss to Take Profit should be equal to 1:2 or 1:3.
The platform has numerous additional services. This can be seen by every trader.
Xcritical’s Customer Relationship Management (CRM) System
The Xcritical’s CRM system is designed to help brokers process and store customer data. It also features the unique ability to integrate itself with other platforms. In addition, Xcritical trading platform system boasts a plethora of features including:
- Maximum control of processing deposits
- Flexible integration with numerous platforms
- Convenient and Streamlined Functionality
- Varying access levels
- Guaranteed safety from scammers and deceptive operations
Xcritical’s CRM is also able to be integrated easily into platforms using various payment processing methods. In addition, the CRM system allows the broker to see and analyze all reports of payments as well as cases of unsuccessful attempts to transfer live funds.• Flexible integration with numerous platforms
The structure of Xcritical’s CRM platform is very versatile and can not only be incorporated with Xcritical products, but can also be applied to other popular trading platforms such as the MetaTrader 4 platform.• Convenient and Streamlined Functionality
The flexibility of the CRM system extends to all the possible uses of the platform. This not only provides basic functions but also additionally creates unique opportunities for the platform in trading. The Xcritical CRM performs basic trading operations such as opening and closing deals without even switching tabs or software windows.• Varying access levels
The developers of Xcritical’s CRM have designed a streamlined functionality for brokers to independently manage access levels for all their employees. This also extends to the broker’s individual departments and specific employees and they can customize how they can view or gain access to personal information from a client.• Guaranteed safety from scammers and deceptive operations
This is by far the most important and primary benefits of the Xcritical CRM. The system’s security is designed in such a way that it can be applied to each of the departments of the company differently.
Xcritical Crypto Exchange
Apart from the basic functions for trading Forex, the Xcritical also allows for the exchange of cryptocurrencym, especially with the likes of Bitcoin, Litecoin, and Ethereal. A majority of services online tend to be unverified and as usual, it can be risky to use since it is very easy for fraudsters to take advantage of. Fortunately, Xcritical offers an absolutely safe and lightning quick service as they do an intensive background check brokers who make use of the services and also carefully monitors the integrity and behavior of customers in order to conduct proper and secure exchange of cryptocurrency.
As a broker, Xcritical Crypto provides several advantages such as the aforementioned CRM System where the trading area can be controlled with its special programs. The platform allows brokers to connect to more than 30 exchanges as well as create order books to be fully managed. This is especially convenient for start-up brokers.
For users, the execution on the platform is designed to be lightning fast. The Xcritical crypto exchange platform is also free to download as apps and can be support with almost any modern smartphone or tablet for on-the-go mobile trading.
And thanks to a fleshed out set of functions, the platform can carry out its trading operations exactly how it does in its foreign exchange platforms; lightning fast and in real-time.
It also features a full set of advanced analytical tools for every situation including and not limited to technical graphics, bank options, one-click trading systems and of course, its inclusion of the Xcritical’s CRM system.
The developers of the system have also taken into priority various areas for the system. In Xcritical’s Crypto Exchange platform, special attention has been given to full control for marketing activities, back office management, procurement of business analytics, risk management strategies, automated trading, and full security and privacy of data storages on it servers.
MetaTrader 4 VS Xcritical Trading Platform
The MetaTrader 4 trading platform is one of the most popular platforms for trading Forex, next to Xcritical. In fact, when assessing the MT4, it does have a few advantages over Xcritical.
Advantages of the MetaTrader 4 platform
- MT4 is very convenient especially for stock trades
- The MT4 platform provides the ability for individual users to customize automated bots and helpers.
- The platform is extremely flexible to employ a number of helpful plugins.
Disadvantages of the MetaTrader 4 platform
- The interface is unnecessarily overwhelmed with various indicators
- The platform has been a subject of price and spread manipulation in its history
- There seems to be a lack of visible information regarding volume on a completed contract.
In the bottom-line, whatever instrument chosen united with whatever trading platform is preferred, it is very beneficial for the trader to learn about the services and look into other and read sources to understand what the broker’s requirements as well as how their privacy statements and conditions work. It is also important to note that your starting capital can change the ease of use of any trading platform. Also, it may be crucial to take note of the leverage and apps offered by the broker. In the end, it would be your choice to see which one works the best for you and to try out the various trading platforms available on offer above reviews online.
Xcritical platform user reviews
The developers of the Xcritical trading platform always look forward to and welcome user and customer feedback to streamline its functionality and convenience.
According to one user named Peter, he says,
I have been working with the Xcritical platform for 2 months. I used mt4 before, but decided to try another one because of the broker and small problems with the terminal itself.
Xcritical is still thrilled. It works instantly, even a little faster than mt4. He quickly changed to a new design, how to make deals figured out in a couple of minutes.
There were questions on setting up analytics, the broker, unfortunately, answered slowly. Turned directly to Xcritical, respond slowly – turned to lunch, waited for an answer until the next morning. At the same time, everything was explained clearly.
The consultant also helped to deal with the analytics bot. Now I know how to find all the necessary information on the platform.
Now I use the services of the broker Maximarkets. Found on his site good video tutorials on the platform.
Now I’m dealing with the stop loss function. There was no need to use mt4, so there is nothing to compare with. Thanks to video tutorials from a broker, the learning process is quick.From tomorrow I plan to start using it with might and main.
In general, I am satisfied with both the broker and the platform at 9 out of 10.”
As you can see, the employees at the Xcritical platform, despite the brokers’ slow response and contact, were able to answer the questions quickly and clearly, rendering the MT4 platform out of the picture.
In addition, here are some more actual statements made by real users of the Xcritical platform. They mostly have had experience with the MetaTrader 4 platform and are now 100% satisfied with the use of Xcritical mostly under the broker of Maximarkets.