TradeLocker vs Broker
The difference between a trading platform and a broker
Here are some key Differences between TradeLocker and your Broker
| Role | TradeLocker | Broker |
|---|---|---|
| Ensures regulatory compliance | ❌ | ✅ |
| Handles the money (deposits/withdrawals) | ❌ | ✅ |
| Provides market access | ❌ | ✅ |
| Can close your trades | ❌ | ✅ |
| Sets spreads and fees | ❌ | ✅ |
| Sets margins and leverages | ❌ | ✅ |
| Sets session times and holidays | ❌ | ✅ |
| Executes the trades in the market | ❌ | ✅ |
| Serves as an interface for your trading activities. | ✅ | ❌ |
| Keeps track of orders and trades | ✅ | ❌ |
| Offers charting and trading tools | ✅ | ❌ |
| Offers technical support | ✅ | ❌ |
Quotes, orders and assets are all being held at your brokerage.
Trading Platform
What is a trading platform?
A trading platform is an app or website where you can see live prices and place orders. It provides the necessary charts, data, and tools to analyze market trends and initiate trades. However, the platform does not handle your money; it’s part of the service provided by a brokerage.
Your personal trading desk
TradeLocker is your go-to trading platform. It's where you'll spend your time deciding when to buy and sell.
Useful features
Access high-quality charts and indicators for informed decisions, and advanced risk management with stop loss and take profit features.
Keeps track of your trades
Think of TradeLocker as your diary for trading. It records everything you buy and sell, so you can look back and see how you did.
Helps you learn and grow
If you're ever stuck or have questions, TradeLocker has lots of tips and guides to help you get better at trading.
Brokerage/Prop firm
What is a brokerage?
A brokerage is a financial institution that handles the actual transfer of money when you buy or sell assets. When you deposit money, it’s held in an account managed by the brokerage. Also, the broker sets spreads, fees, margins, and leverages.
Handles your cash
Your broker is like your banker. They handle the money stuff — deposits, withdrawals, fees and spreads.
Executes your trades
You click 'buy' or 'sell' on TradeLocker, and your broker is the one who goes out and does that for you in the real market.
Manages your risk
The broker sets up safety measures, like how much you can borrow (leverage) and ensures you don't fall below your margin requirements.
Keeps everything legit
And, of course, they make sure that all your trading activities follow the rules and laws of trading.