subject: Forex Trading Software - All You Need To Know [print this page] A forex trading software is a program that has made forex trading more efficient and easier than manual trading. With this software, one can trade any minute of the day, since one can trade with different pairs of currencies across the world in various time zones. Usually traders get this foreign exchange trading software free from brokers when they sign up for trading accounts.
Types of Forex Trading Software
Forex trading software can be broadly divided into two categories, namely server-based software and client-based software. In a server-based software, one has access to the service provider's server, in which the software is installed. It is also called online forex software. A person needs to login to the server to access the interface. In a client-based foreign exchange trading software, the program is downloaded and installed in your own computer. One can trade anytime with both types of software. The server-based software is considered safer because the chances for data theft are minimal. In a client-based software system, the data is stored in a client's machine, which is vulnerable to data loss and data theft
What to Look For in a Forex Trading Software
Forex trading software that are offered free with trading accounts usually have bare minimum features. If you want to take advantage of the software completely, one should opt for advanced versions. An advanced software will offer you:
* Real time forex rates
* Relationships between currencies and
* Charting functions
Here are some tips to find the right forex trading software
Security is one of the crucial factors one should look into when buying a forex trading software. The system should have assorted security layers that make it hard for hackers to get into. The system should ensure the protection of personal information. Some vendors advertise that one need not know anything about forex trading when using their automated forex trading system. Actually the software trades on behalf an investor, based on certain criteria specified by the trader. Therefore, a trader should have an understanding of basic forex trading to establish the criteria. Therefore, opt for a demo version and try to understand the capabilities of the software and make the decision only after this. The most important aspect is that you should have access to real time data and the capacity to trade all currencies and at all the markets across the world.
Ctsforex.com offers an automated forex trading system that helps traders gain an ROI of around 35%. This automatic trading system from Ctsforex is considered to be very stable.
