Forex Traders Suffer Due to Trading Platform Downtime

A brief outage of Deutsche Bank’s forex trading platform left several investors suffering on Thursday. Reports have it that a server error had the currency and gold pricing on the Autobahn, the bank’s in-house trading platform, going on and off in an erratic manner.

This compelled the bank to shut off its voice broking service for an entire 10 minutes, when the erroneous server was being replaced by another. Although the systems were up soon after that, several traders had suffered as they lost the pricing feed during the early trading hours in Europe.

Protecting yourself from trading interface errors

The fact that Deutsche Bank is the largest currency dealer in the world did not prevent a technical glitch in its systems. Although the outage was for a small period, traders had suffered and some may even have had losses. So is there a way to protect your self from such incidents? May be not. Considering that technical and server errors are something that cannot be entirely prevented, choosing a reliable trading platform, with the best features, is all you can do to minimize your losses in spite of such technical issues.

Usually, the best forex brokers offer a wide choice of platforms that you can choose from, and do not charge you any fee for it. Here are a few things you should look for in a forex trading platform, besides the credibility of the forex broker.

• When you choose a platform, it is important to consider factors like the trading tips provided and the speed and efficiency that it can place the trades with.

• Also, the types of charts you can access and the technical indicators or signals that the platform offers should be considered before you make a choice.

• To place your trades faster, you should look for a trading platform that allows you to place your trades from charts.

• If you intend to place trades automatically, using a particular program, you need to check if the trading platform has an API that supports it.

• Also, the amount of historical data that the platform allows you to access is another feature you should consider. Having access to historical data can help you back-test your results to improve your strategies and your profits.

The more options that the trading platform offers to you, the better it is for improved trading. However, irrespective of the number of features it has, the forex trading platform should be simple to use, either on your computer or on your mobile device.