Trading on one market or combining two at once - what's more efficient?

TelkreeTelkree PEx Rookie ⭐
At present, there are lots of markets for both trading and investment. Forex, options, cryptocurrency - to mention just a few. The more markets, the more opportunities - I guess that's clear to everybody. On the other hand, each market has its own rules, specific tricks, so to say, and the things that work on one market might simply not work on another. That's why I'm trying to figure out if there's any point in trading on several markets at the same time - or whether I should just focus on one of them. Another important point is that some brokers provide you with access to several markets from just one platform. For instance, with olymp trade you can switch between Forex and options, and BitForex offers you an opportunity to trade on both Forex and cryptocurrency exchange. What do you think, is it convenient and actually worth it?

Comments

  • Hi! I trade with Olymp Trade and I stick with using it because I am familiar with it. Di ba, mas madali nga gamitin  if you use one platform consistently. But for a bit of variety, I also use MT4.  I tried to use both IQ options and Olymp Trade in the past, and I found out that its basically just the same so I chose to stay to the one that is easier to use and more user friendly -- and that is Olymp Trade. 
  • That'a a good question:). I’m trading on several platforms, on several markets (stock, forex, cryptocurrencies). And at the same time, I’m trading on the platforms, which provide access to several markets. Here is an example, I’m trading cryptocurrencies on Bittrex and Poloniex, and I’m trading options on Olymp Trade platform. Moreover, Olymp Trade offers also cryptocurrencies, but I don’t trade them there, because on crypto exchanges the choice of assets is much better and it’ more comfortable personally for me there. So, this is ok, that some platforms offer access to several markets, but you are not obliged to trade everything you’ve been offered, you can open an account even on 10 platforms and use on each only something, which is most beneficial for you. 
  • TelkreeTelkree PEx Rookie ⭐
    I understand that I don’t have to, the question is about convenience. Is it convenient to open the accounts with 10 brokers and on 10 exchanges or is it easier on one-two platforms, but with different assets? 
  • Well, this depends on the situation. For example, it’s comfortable for me to use 3 platforms and trade those assets, which provided better than on the rest. Of course, less platforms you use the more convenient it’s for you. Take into account that it can be not always profitable. For example, at certain platform for one asset have good conditions, but for other ones they don`t . As a rule, platforms have specialization.

    It’s more profitable to trade cryptocurrencies on crypto exchanges (although some already offer fiat currency pairs).

    With large forex brokers it’s better to trade forex currency pairs, although they have CFD shares.

    But it’s better to trade the shares through the exchange brokers.

    Olymp Trade is good as an options broker. They improving separate forex platform which means they can be suitable for forex trading.

    So the method is the following: you just need to consider all the factors and see what’s the most beneficial – you will hardly find one platform to meet all your requests :)

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