Using a good forex trading platform will help you work the work in the financials market and earn you your worth in gold.
How do you nib the best forex trading platforms out there? Here are some handy features you’ll want to look out for.
You’ll want it to be easy to install and use. Also watch out for the availability of currency pairs, functionality of the platform, whether the platform is free or paid-for, and the brokerage trading platform it is integrated with.
The best forex platforms do allow traders to open a demo account first before committing to using a paid account. That way, you can try out various forex software trading platforms and decide which is the best one for your trading needs.
Below are various online forex trading platforms that are sure to impress.
1. MetaTrader 4-
This is the most popular and most used platform in the world. It’s highly demanded by both professionals and novices for various reasons.
Most currency trading providers use MetaTrader 4 and many forex brokers offer their customers trading with it. The platform is simple and user-friendly and its functionality allows trading effectively when using all the necessary trading tools.
The platform allows traders to create and test expert advisors and trading robots. All the transactions are confidential and keep trade history and archives the trade records for future reference.
2. Mirror Trader
This platform differs from the rest of the forex trading platforms available in the market-though the main principle and aim is the same that is to commit a transaction.
Mirror trader provides real-time forex signals and technical analysis tools. It allows a trader to view the transactions of a more experienced trader and copy the most profitable strategies. It also allows receiving and controlling trading signals in real time and also allows receiving and analyzing trading and market statistics.
3. Ninja Trader
This is not an ordinary trading platform but an effective complex tool for market exchange trading. The platform is not only used to make transactions but also to analyze market data, as well as create and test different trading strategies.
The user can provide data output in any way he desires with the help of the chart system of the platform. Ninja trader also allows traders to trade directly from the chart.
This platform was developed as a result of traders’ feedback and requests. The SuperTrader platform can be used by traders of all levels from the novice traders to expert traders. It allows trading using both manuals and algorithms, expert advisors and robots.
SuperTrader allows the company to avoid unjustified losses on part of its customers through setting high standards of strategy provider. These standards make sure each strategy passes through a hard selection and testing in real time on real deposits before offering it to traders. If the strategy is ineffective and unreliable it’s removed immediately from the SuperTrader trading tools batch.
5. MetaTrader 5
This platform is for people with various trading accounts as it allows a quick switch between trading windows. MetaTrader 5 makes trading more comfortable and faster and its one of the most popular and most used platforms in the word by traders of all levels.
This platform allows traders to control losses using pending orders and to reverse positions. It also allows the use of any kind of trading orders making it viable to implement sophisticated trading strategies.
And there you have it. If you are about to start forex trading, those are the 5 most commonly used online forex trading platforms that you will encounter.