Trading technology provider ParagonEX Dynamic told Finance Magnates on Wednesday that it has launched a new platform for beginner traders.
Called ‘Newbie Trader,’ the platform provides a simplified set of tools for retail brokers to provide to clients that are just getting started in the world of trading.
ParagonEX Dynamic told Finance Magnates that the new solution provides all of the core tools needed to trade well but has simplified them.
“What we’ve seen is that many platforms are very complex,” said a company spokesperson. “That’s good if you know what you are doing but it can be off-putting for people that have little or no trading experience.”
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Extensive set of tools
With that in mind, the ParagonEX Dynamic team put in extensive research to find the best balance between a user interface that is easy to understand for beginners but which does not damage the tools needed to be a good trader.
Users can, for example, access trading charts and create tabs that show their open positions or their recently closed orders.
The platform allows for several different asset classes, including stocks, commodities, and – of course – foreign exchange.
Newbie Trader is one of several new products that ParagonEX Dynamic has brought out in the past couple of years.
The technology firm also offers a social trading solution and a set of products for portfolio management.