Because forex (FX) is a decentralized market in which dealers disseminate their own price feeds through proprietary trading platforms, it is crucial to learn the features and idiosyncrasies of each type of trading software before committing real funds to an account. Fortunately, in retail, FX traders can test out each platform using demo dollars. Every reputable dealer in FX allows potential customers to download a free demo version of its software. This is critical if the customer is to become acquainted with the platform's layout and the means of order entry. MetaTrader, eSignal, NinjaTrader, and other applications are free to use on demo accounts, which means that they can be a valuable way to practice building systems, backtesting them, and applying the concepts in practice by paper trading.
A trading platform provides information such as quotes and charts, and includes an interface for entering orders to be executed by the broker. Trading platform software can be locally based, meaning it is installed on the trader's computer and can be used with Windows, Mac, and Linux systems - different brokers offer different options in this respect. Alternatively, some brokers offer software that is web based. These platforms often run using Java, a dynamic web language. The advantage of web-based trading platforms is that they can be used by almost any computer with internet access. Trading platforms are often available free-of-charge, but some brokers allow traders to purchase platforms that have a higher functionality for a fee. Other brokers provide platforms with different levels of functionality for traders who are more active.Online forex trading requires the same things from a trading platform that are required for trading any other type of security. The platform must act as a go-between for the retail forex broker and the forex trader. Platforms must also provide real-time and historical data to the trader and provide the him or her with access to all of the types of orders that need to be available to trade forex efficiently. (For more on this, read Place Forex Orders Properly.)
Third-party forex trading software is also often used, as many retail forex brokers' platforms have an application program interface (API), which allows traders to integrate third-party or even proprietary software into the platform.
The availability of financial apps that can be downloaded on mobile devices has proliferated over the past few years, making it easier than ever to get real-time updates on Foreign Exchange (FX, or Forex) markets and trade right from the palm of your hand. Examples of FX mobile apps include Baby Pips, FXCM Trading Station Mobile, Coin Trader, XE Currency, TradeInterceptor Forex Trading, NetDania Forex & Stocks, etc.
ليست هناك تعليقات:
إرسال تعليق