What is Forex Software?

To trade forex today, you need to use software. Forex software can perform different roles depending on what you want the software to do. In this post we’ll go over some of the different forex software programs and their purposes.

Forex Platform Software

Your forex platform is provided by your forex broker and it is through the forex platform that you place your real money online roulette.

Platforms will differ from broker to broker. Some brokers have a custom forex platform while others use industry standard software (e.g. MetraTrader 4). Other brokers don’t give you a software package to install on your PC but instead use a web-based platform.

Forex Signaling Software

This is a very popular for foreign exchange traders. What a trader does is enter certain information into the signaling program, such as the current day’s high and low prices, and then the program will give you a signal of whether to buy or to sell.

Forex signal software is typically used by traders that have a trading plan and want to confirm their own decisions.

A popular forex signal program is Forex Killer.

There are sites that provide forex signals updates online or via email, e.g. Forex Auto money.

Automated Forex Software

As the name suggests, forex automation software automates the process of forex trading. A popular platform for this type of software is lecasinoenligne.co.

With MetaTrader 4, you can program how you want to execute your currency trading. This can be as simple as setting up a profit target or stop loss automatically with every order. If you are willing to learn a little programming you can even automate your buy and sell orders as well!

Many forex traders use Expert Advisors (EAs) to do all the trading for them. EAs are programs specifically written for MetaTrader 4 and they will decide when to buy or sell, place the order automatically and at the same time create a profit target and stop loss. In other words, they do all the work. All you need to do is turn your computer on.

Expert Advisors are extremely popular. Because they are programmed for specific currencies and specific time intervals (e.g. 1 minute or 5 minute charts) and are based on past market performance, they are very accurate. There is no emotion involved in the trade. Emotion is the greatest stumbling block for the inexperienced trader.

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