Forex Trading Platforms
With the growing popularity of forex trading, comes the availability of several different forex trading platforms. The growing number of available forex trading platforms makes it a bit more difficult to decide which is the best one.
Traders should always choose a platform based not only on their personal preferences, but also based on the platform’s past performance and the experiences that others have had using them.
Although there are several platforms to choose from, there are some that are more popular and more widely used than others. These include MetaTrader 4, eSignal, Currenex, and ForexTrader Desktop.
MetaTrader 4 is by far, one of the most popular forex trading platforms available today. Many traders choose this platform because it is not only powerful, but it also offers several great features that give traders the opportunity to improve their trading success rate. For new traders and those not acquainted with the platform, there is the opportunity to test drive using a demo account before committing actual investment funds into trade.
With the MetaTrader 4 trading platform, traders can place up to 8 different order types and can choose from among 3 different execution options. In addition, MetaTrader 4 trading platform offers more than 50 different analytical tools and an unlimited number of charts with which to work. The platform also features trading signals, expert advisors, as well as news alerts and economic data which helps in making better trading decisions.
Another popular forex trading platform is eSignal . This platform features a very user- friendly interface that is suitable for all levels of traders, from beginners to experts. It also offers the opportunity to see live streaming of stock quotes, futures and options quotes, as well as economic data.
eSignal features backtesting and scanning tools that help traders to assess the effectiveness of their trading strategies before executing them in real life. Charts are customisable and the platform speed is among the fastest available.
One of the outstanding features of the Currenex forex trading platform is the liquidity that it allows traders to access in the forex market. It gives traders access to undisclosed cash on a single screen, making it attractive to several traders. Anonymous streaming gives participants access to many liquidity sources.
Traders are able to analyze trading patterns and to access their trade history, making any necessary changes to their trading strategies as they go along. Traders are also able to adjust the level of security by increasing or decreasing connectivity options and adjusting their messaging protocols.
ForexTrader Desktop offers traders increased speed and flexibility. It does so by offering the possibility of automating trading signals and customizing trades using the Strategy Wizard feature. The platform also features advanced charting options which gives traders access to advanced technical indicators to up their trading game.
Daily and weekly forex research from highly credible sources such as Reuters, helps traders to make more informed trading decisions. ForexTrader Desktop also offers live support to all traders.