With the technological advance going very fast in the Forex industry the developers of the forex trading software keep up with the time and create different types of software for various needs of a forex trader who is more and more reliant on computer programs and algorithms when taking trading decisions.
They allow traders to place orders and execute trades while interacting with an online forex broker. With time forex platforms evolved into rather complex pieces of software allowing not only to place trades but also include the charting possibilities, backtesting the trading strategies on history, multiple account management possibilities and other useful features. Read more information at Forex Trading Platform Reviews.
Automated trading software works according to the algorithm that its developer encoded in it. Its benefit is the alleviation of trader’s labor because they don’t require manual intervention and tweaking over a pre-set period of time. Now they also often go under the name of forex robots. Due to the outstanding automatic trading features the popular forex platfrom MetaTrader 4 provides they are also widely known as Expert Advisors (EAs) as this is how these forex robots are called in Metatrader. Many traders have spent lots of time trying to harness the art of programming the software so that it could trade profitably for them without many hours spent sitting and watching the charts. Read more about Automated Forex Trading Software & Solutions.
These are computer programs that allow the trader to use a multitude of in-built technical analysis methods to interpret the historical price charts. This forex charting software also allows you to build your own custom systems to analyze the price and help you predict its future direction. Basic charting software is already included in almost all forex platforms. They comprise popular indicators and oscillators like Moving Averages, RSI, CCI, trend line drawing capabilities and more.
Read more about Technical Analysis and Forex Charting Software.
Trading signal generators is the software that helps the trader in the decision-making process by providing recommendations when to enter the market and when to close the position. This software does not trade without your participation. Trading is still manual.
You will be able to download the latest software by following links at your website at the official sites of a given forex broker or developer.