Dxtrade is one of the newest trading platforms that has great and advanced technology and is also easy to use, as it provides an innovative and distinctive trading experience. In addition, this platform provides traders with many trading tools that suit different strategies, making it the ideal choice for beginners and professional traders as well, as it is characterized by its high flexibility in executing trades.
All you need to know about Dxtrade
1 – Key Features of Dxtrade
The Dxtrade platform has many features that make it the ideal choice for traders looking for advanced and flexible tools. The most important of these tools are:
Customizable Interface
Dxtrade platform allows you to modify the platform interface however you want to suit the needs of traders, which helps them improve the trading experience and make it more flexible and easy.
The platform is very Simple to use, making it suitable for all traders because it has an easy-to-navigate interface, making it flexible for beginners and professional traders to deal with the platform easily without the need to learn how to deal with it, unlike complex platforms.
Advanced Analytical Tools
You will find many analytical tools provided by the Dxtrade platform to help traders make appropriate decisions based on different market conditions. These tools include advanced technical indicators, analytical models like Head and shoulders and Triangle patterns, and more tools that you will find and may be able to use in your strategy.
Multi-Market Access
You can trade in many financial markets including Forex, commodities, and other financial markets. This diversity provides a great opportunity for traders to invest in many different markets, which leads to diversification of risks so that the trader does not risk all his money in a specific market.
Automated Trading Support
Since we are in the age of technology, the Dxtrade platform allows the use of Expert Advisors, which allows traders to implement their strategies completely automatically without the need for the trader’s intervention. This feature is very useful for traders, as traders cannot follow the market 24 hours a day to take advantage of the opportunity when it exists, but the Expert can do that easily, as it is an automated trading system that saves you from analyzing the market and making rash decisions.
Advanced Security Features
Of course, security is the most important thing in the world of money because, without security, your money will be at risk. Dxtrade has the latest security technologies to ensure the protection of traders’ data from hacking and to preserve their money during trading In addition to withdrawal and deposit Transactions, the company is keen to keep traders’ personal information safe
2 – How to Use Dxtrade
Using the Dxtrade platform requires some simple steps that will help you benefit from all the platform’s features.
1 – Create an Account
First, you have to create an account with the broker because the Dxtrade platform does not work directly with traders, and this is very important. You must first choose the broker that suits you, and then create an account with Dxtrade and make sure that the broker supports the Dxtrade platform. You can verify this through their official website from here.
After you choose the broker, you will register an account with Dxtrade by filling in your personal information (Not your email) but first choose which market you would like to trade on.
Please note that Dxtrade does not deal directly with traders, so do not put your personal email in the email field, but first contact the broker so that he can give you the company’s email so that you can register through it, and then he will give you the login details for the demo account.
Dxtrade create account
After creating an account in Dxtrade, you can either download the platform on your phone or use Webtrader.
2 – Deposit Funds
After creating and activating your account with the broker, you must deposit money with the broker (not Dxtrade) to be able to execute trades in Dxtrade, but this step is not necessary in order to use the Dxtrade platform. You can use it without having to deposit money.
3 – Explore the Interface
When you log in, you will see the user interface that has many tools that will help you in the analysis, such as support and resistance lines, trends, Fibonacci, etc., Also you will find different charts available in the platform that display live prices.
Dxtrade platform
4 – Select Your Markets
Dxtrade is distinguished by providing many financial markets available on the platform. You can choose to trade Forex pairs such as the EUR/USD and the GBP/USD, and even commodities such as gold, or you can trade stocks such as Apple and Amazon shares, etc.
But please note that each market has its own conditions that affect its movement. Not all markets move the same, so you must understand the market you intend to trade well before starting to open any trade.
5 – Use Analytical Tools
Many tools will help you make the right decision whether to buy or sell. The most important of these tools are technical indicators. Dxtrade is distinguished by the presence of many advanced analysis tools, which include advanced indicators such as MFI (Money Flow Index), TDI (Traders Dynamic Index), Volume Profile, Vortex Indicator, And many advanced indicators that may interest you in the accuracy of their data.
6 – Execute Trades
After you choose the appropriate indicators for you and prepare your strategy, it is now time to execute the trades. In order to open any trade, you must first choose the pair or stock that you want to trade on, and then determine the trade size and stop loss & take profit (they can be added after opening the trade as well).
7 – Backtest
Backtest is one of the most important tools that will help you in the world of trading because this feature allows you to learn more about the trading strategy before you implement it on the real account or even the demo account. It saves you a lot of time and you can also backtest an indicator or expert advisor.
Please note that the accuracy of the backtest is not 100% correct. The results may be completely different from the real results when applied to a real or demo account.
3 – Dxtrade vs MT4 & MT5
There are many differences between Dxtrade and other platforms in several aspects because Dxtrade suits the needs of traders in terms of user interface, tools, and analysis. The MT4 and MT5 platforms have good technical tools and good indicators as well, but they are limited, as there are not many technical tools that are compatible with modern strategies that are added periodically.
Multiple time frame
Multiple time frame
Using more than one-time frame is considered an effective strategy in the Forex market, as you can analyze the market on more than one frame. This will help you get a comprehensive view of the price movement, which enhances making important decisions. The decision will be based on a complete analysis and study.
Among these benefits is that you will be able to determine the general trend and you will get confirmation of the signal on more than one time frame. For example, if there is a buy signal on a four-hour time frame but the general trend on the daily is downward, this will be a warning that this buy signal is not correct.
Another benefit of using Dxtrade is that it helps you determine the risks with high accuracy through the (position) feature. You can determine the entry area, the stop loss, and the take profit. It will show you the number of pips that are away from the current price accurately. By knowing this number of points, you will be able to determine the appropriate lot to enter the trade. This will help you avoid losing the trade in case you calculate the lot incorrectly.
Drawbacks of MT4 and MT5
One of the reasons that may prompt you to use the Dxtrade platform instead of traditional platforms such as MT4 and MT5 are the disadvantages that may affect your trading and decisions. Among these disadvantages are:
Lack of advanced analysis features
The MT4 platform lacks many of the analysis tools that traders need to suit their strategies. Although it has many indicators, it is not enough to meet the needs of traders.
Although MT5 is a more modern platform than MT4, it is considered a bit complex for new traders, but it has many indicators that may interest traders as well.
Historical data
Both platforms rely on limited data capacity, which will of course affect the accuracy of strategy testing. Traders require large historical data in order to test the strategy with high accuracy. For example, if you want to test the strategy for a year, but on the 15-minute time frame, you will only be able to see what happened in the pair for 5 months, and you will not be able to see more data, because there is a limited Data for both platforms, and therefore the excess data is always deleted.
Incompatibility with some types of trading
The MT4 platform focuses more on Forex trading, which makes it less suitable for stock trading, unlike the Dxtrade platform, which provides many different trading markets.
Drawbacks of Dxtrade
Dxtrade Drawbacks
Of course, you will find some disadvantages in Dxtrade as there is no perfect trading platform and among these disadvantages are:
Limited compatibility with brokers
Dxtrade is designed to work primarily with brokers and not traders, and this is one of the disadvantages that directly affects traders because if you want to use the Dxtrade platform, you must first register an account With the brokerage company that cooperates with Dxtrade, and if your broker is not a partner with them, you will not be able to use the platform.
This means that not all traders can use the DXTrade platform, and this may limit the options of traders who prefer to choose a different broker than the one they are looking for, and this of course may affect their trading.
Fees and costs
Although Dxtrade is a trading platform, in order to use it, you must first ask the broker partnering with this platform to give you a demo account so that you can use it for analysis. The broker may ask you for some fees for this account because the broker pays the Dxtrade platform in exchange for providing this service.
Incompatibility with some trading robots
You may find that some expert advisors do not work well on the Dxtrade platform, so you must first test the expert before running it on the real account. This defect gives an advantage, of course, to the MT4 and MT5 platforms, as you can run any expert on both platforms without any problem.
Conclusion
Dxtrade is a very flexible and good platform for all traders. It combines ease of use and advanced features that any trader needs to achieve successful trading in the financial markets. Through these features, you can use its customizable interface and various powerful tools that provide a suitable trading environment for beginners and professionals as well. Despite some disadvantages in Dxtrade, most well-known brokers rely on this platform because it has many benefits that any trader looking for flexible trading without any complications.
If you are looking for an alternative platform to MT4 and MT5 that meets your needs and has the flexibility required for your strategy, then Dxtrade is the right choice for you.
