6 Tips On Choosing the Right CFD Platform

6 Tips On Choosing the Right CFD Platform

1. Choose a platform that offers multiple asset classes.
The Phillip MetaTrader 5 (MT5) platform offers spot forex, spot gold, spot silver in addition to CFD indices, allowing you to create a comprehensive trading strategy across various asset classes, mitigate risk and capitalise on market movements.

2. Choose a platform that is flexible and functional.
Equipped with an auto trading function and advanced charting and trading tools, the Phillip MT5 gives you more time to hone your trading strategies. The Autochartist pattern recognition tool helps you scan for opportunities round the clock and alerts you to place a trade. You can automate your trading strategies with Expert Advisors and use Technical Analysis to help you trade better.

3. Choose a platform that allows you to the versatility of trading on the go.
The Phillip MT5 is available on desktopmobile and web (suitable for all web browsers including MAC OS) – allowing you to securely trades wherever you may be. 

4. Choose a platform that keeps you constantly updated with news.
Keep up with the latest macroeconomic news and data releases so you can make more informed CFD trading decisions. The Phillip MT5 platform comes with economic calendar, institutional research and news across various asset classes powered by FXStreet.

5. Choose a zero-commission platform.
The Phillip MT5 offers zero commission for CFD trading and competitive spreads, ensuring that you keep your trading cost low. 

6. Choose a platform with a demo account.
Downloading and trying out features on a demo gives you a feel of the platform. Gain trading experience at zero risk with Phillip MT5’s FREE demo

3 Steps to Start Trading CFD on Phillip MT5

1.  Pass the CKA assessment.

2. Acknowledge the Risk Fact Sheet. Log in to your Client Portal, select ‘Investment Knowledge & Experience’ and proceed with acknowledgement.

3. View CFD prices and start trading CFD on Phillip MT5. 

For more information on the CFD contracts available on MT5, you may click here