Forex trading software analyses market information to make trading decisions.
Forex trading software gives information that might include currency price charts, economic news and events, spread fluctuations, and other market activity.
Traders want to know which platforms are the best – and rightly so. There is plenty of noise out there in a crowded market and it’s not a one size fits all solution. Luckily, Kemistri has delved in, sussing out the cream of the crop, identifying the best automated forex trading software on the market. Ultimately helping make the right choices for you.
MetaTrader 4 (MT4)
A highly desired and well followed platform since launching in 2005. This forex trading software has multiple integration features, so a user will not have to open new accounts, but rather continue with another or different brokerage account.
This trading software runs its own programming language, so may not be best suited for those looking to program their own moves. Although, the programming that it runs is similar to languages like C.
Metatrader 4 is seen as best for new traders, looking to get a good feel at data language and experienced traders looking for a more data-rich experience.
eOption
Specialising in low price point, this forex trading software leverages itself as low cost options trading. Going beyond forex trading, eOption allows for trading of stocks, ETFs, bonds, and mutual funds. A good choice, for those looking to trade in numerous markets.
If you are looking to be able to program some of your own options though, this may not be best suited. eOption lets its users set up automated trading systems without any programming knowledge and therefore accommodating both beginners and those more experienced traders.
Note: Once automated trade is set up it cannot be deviated from in switching to manual, therefore if you are after manual trading options you will need a different eOption account set up.
Interactive Brokers
Operating in 33 different countries with access to over 135 different markets, Interactive Brokers also makes a great choice for those looking to trade beyond forex.
New to forex trading? This platform offers plenty of educational materials to help you learn and progress in your trading journey.
Experienced traders are also catered for with the option to use the Brokers’ API solutions. These include programming languages such as Java, Python and C++.
SoFi Automated Investing
Considered as one of the top automated forex trading softwares out there, SoFi Automated Investing has the least amount of fees associated with using its platforms and executing trades.
SoFi also allows for trading beyond forex which makes it another great option for traders wanting to get into multiple markets (including crypto).
In summary, there is indeed much for traders to consider when hoping to take advantage of forex trading software, but make the right choice and you’re a step closer in making the gains you desire. For more detailed information on forex trading, why not check out Kemistri.
Original Source: https://www.talk-business.co.uk/2020/08/17/the-best-forex-trading-software-2020/
