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Introduction to the Sirix Trading Platform

Sirix, is the name of a retail forex trading platform. This trading platform is from a company called Leverate which was founded in 2014 in Cyprus. Sirix trading platform is one of the many different retail forex trading platforms available for traders to trade with.

However, unlike its bigger competitors such as Metatrader or cTrader, Sirix trading platform still has a long way to go. But this is often the case, given the fact that Metatrader MT4 and MT5 platforms have been around for decades and have a significant market share. Having said that, there are some unique features that Sirix forex trading platform has to offer, where others fall short. Read more to get a better understanding of the Sirix trading platform in this article.

About Leverate – The company behind Sirix

The Sirix trading platform is powered by the company Leverate which is headquartered in Cyprus. The company also has offices in a number of locations including Israel. The company Leverate has won quite a few awards in the past.

One of the unique things about Sirix which sets it apart from other competitors in trading platforms is its liquidity pool. With platforms such as Metatrader, the forex broker is free to connect to their liquidity pool of their choice. However, Sirix trading platform comes with its own liquidity pool. As a result, spreads are as low as 0.2 pips on some of the major forex currency pairs.

Is the Sirix trading platform good?

Firstly, the Sirix trader is a web based trading platform. This might put off quite a few traders who prefer a more hands-on trading platform that allows them to download the trading platform to their desktop.

However, on the flipside, a browser based application means that the Sirix trading platform is no longer subject to the operating system. So whether you are using a traditional Windows system or a Mac, you can easily access the markets and trade via the Sirix webtrader.

The Sirix trading platform is built using HTML5. This means a feature rich interface that makes it a pleasure to analyze the markets with ease. The Sirix trading platform comes with a number of indicators that are ready to use.

But you might already be asking whether you can add your own custom indicator to the Sirix trading platform. Unfortunately, this is not the case. So if you have a custom forex trading strategy which requires you to make use of a proprietary trading indicator, then the Sirix trading platform does limit you on this front.

In terms of order execution and order types, the Sirix trading platform allows you to set pending limit or stop orders. There is no difference in this aspect between Sirix or any other trading platform that is available out there.

Another limitation to consider is that you cannot make use of automated trading strategies on the Sirix platform. This is simply due to the fact that a web based trading platform has its own limitations.

So for automated traders, this can be a deal breaker.

Sirix mobile trading platform

While the web based Sirix trading platform has some shortfalls, it makes up for it with the suite of mobile trading apps. The Sirix mobile trading platforms are widely available for iOS and Android environments.

And this is where the interface gets really good comparing to other traditional trading platforms. Sirix mobile trading app retains the same feature rich elements that one gets to see on the web trading interface. You can easily manage your orders, apply technical analysis using indicators and even place orders through the Sirix mobile trading app quite easily.

Which forex brokers offer Sirix trading platform?

There are quite a few forex brokers who offer trading on the Sirix platform. These forex brokers also give you the choice to trade on other trading platforms as well. But in terms of the market share, the forex brokers who offer trading on Sirix are still a bit limited.

And reading the above, you can come to your own conclusions on the reasons behind this.

Sirix trading platform – In conclusion

To conclude, the Sirix trading platform seems to target a specific group of traders who wish to keep things simple. By having a web based interface, the Sirix trading platform removes the need to be tied into a Windows system. (Traders know that when it comes to forex trading, there are a lot more options for windows based systems than Mac or other Linux based operating systems).

Automated trading and custom technical indicators do not fit well with Sirix. So this is something to consider when choosing to trade with a forex broker that offers Sirix. But if your trading strategy requires the use of the default technical indicators, then Sirix trading platform offers a good choice for this.

The mobile interface is also quite superior and allows traders to manage their positions on the go.

Read 631 times Last modified on Tuesday, 07 April 2020 16:39