Forex Trading Software Reviews

What is the best forex trading software on the market? With hundreds of forex brokers offering their services online, choosing the right broker is a task that is no less difficult than creating a successful strategy at times. On this page we provide our recommendation, both the reviews of our users and those of the users, and also a description of the features to look for in different software. It is unlikely that the average operator has enough time to verify all the various characteristics of the forex platform packages offered by the brokers and even if he had time, it is not possible to fully assess and appreciate the complex characteristics of a good trading platform with a superficial examination. We would like to streamline this process for you by providing these forex trading software reviews of the most legitimate and reputable brokers in the market.

BROKER

FEATURES

MIN DEPOSIT

EURUSD SPREAD

DESTINATION

US Clients: No
Regulated: Yes

Your capital is at risk

– 40% New Member Bonus
– MIFID, ASIC, FSA & FSCA regulated
– Free Online Trading Coach

​$100

Fixed

US Clients: No
Regulated: Yes

Your capital is at risk

– Regulated by FCA, CySEC, FSCA, IFSC and FSC
– Over 1M Registered Accounts
– More than 250 Trading Instruments
– MT4, MT5 and Web Trader Platforms
– Full ECN Trading Model
– Crypto-trading only avail. for clients of FT Global Limited.

$10

ECN 0.1, Standard 1.6

US Clients: No
Regulated: Yes

Your capital is at risk

– Minimum Deposit $5
– Up to 1:500 leverage with micro-lots (0.01 size) available for everyone
– Scalping, hedging, trading on the news, and EAs are permitted at OctaFX.
– First Time Deposit Match: 50% Up To Any Max Deposit.

$5

0.2 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– АSIC Regulated
– True ECN Execution with spreads from 0.0 pips
– Powerful 500:1 leverage and 0.01 micro lot trading
– Scalping, hedging and EAs are allowed
– MAM / PAMM accounts
– Established in 2005
– 10,000+ products to trade

$100

From 0.0 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– $10 usd minimum deposit
– State of the art platform
– 24/7 support in more than 17 languages
– Free demo account

$10

Varies

US Clients: No
Regulated: Yes

Your capital is at risk

– CySEC regulated.
– Good for beginners with excellent trading academy.
– Beginner Friendly

$250

From 0.8 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– CySEC, FCA, ASIC Regulated
– MT4, MT5, WebTrader platform
– $50% and 20% deposit bonus up to $5,000(t&c apply)

$5

Vary

US Clients: No
Regulated: Yes

Your capital is at risk

– ASIC Regulated
– Well Established
– No Fees
– 24 hour support

$200

From 0.1 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– FREE Live trading signals delivered 3 times daily 5 days a week.
– Complete Education pack for novices and advanced traders alike. Designed to support long term – reliable trading.
– Alvexo’s New Webtrader – user friendly, tailored reports and built in trading signals.

$500

From 0.6 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– Min Deposit $100
– Leverage Up to 1:500
– Accounts may be individual, joint, or corporate, with options for traditional or ECN type pricing

$100

.5 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– FSCA Regulated
– MetaTrader 4 & Sirix platforms
– Education Tools
– Copy Trading is Available

$250

from 0.5 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– Minimum Deposit $250
– Leverage 1:200
– Dedicated Account Manager

$250

Fixed & Floating

US Clients: No
Regulated: Yes

Your capital is at risk

– Flexible leverage up to 500:1
– Multi award-winning New Zealand broker
– Institutional-grade spreads from 0.1 pips

$200

From 0.1

US Clients: No
Regulated: Yes

Your capital is at risk

– FCA, NFA, CFTC, IIRO, FSA, CIMA, MAS, SFC Regulated.
– Award winning platform.
– Beginner Friendly.
– Well established, safe and trusted.

​£100

Varied

US Clients: No
Regulated: Yes

Your capital is at risk

– Low min. deposit
– Easy deposit and withdrawals
– A lot of pairs offered

$00

Variable

US Clients: Yes
Regulated: Yes

Your capital is at risk

– Trusted Global Market Leader
– Online FX & CFD Trading
– 180+  Global Markets, 84 FX pairs, 65 shares, 17 popular indices and more
– Forex, Indices, Commodities, Equities & Bitcoin
– Available to US traders

$250

1 pip

US Clients: No
Regulated: Yes

Your capital is at risk

– CySEC, FSCA, FSA, DFSA, FCA Regulated
– MetaTrader4 & 5 platform
– Proprietary debit card for quick withdrawal applications!

$5

From .2 pips

US Clients: No
Regulated: Yes

Your capital is at risk

– CySEC, DFSA, FCA, FSCA, SIA Regulated
– MetaTrader4 , MetaTrader5, cTrader, FxPro SuperTrader
– 10+ Years in business
– 50+ International Awards

$100

From 1:1 to 1:500

Broker offers variable differentials that are subject to fluctuating market conditions. Spreads tend to be narrow in times of deep liquidity, but can also expand significantly in times of low liquidity.

Want to be featured on this broker list? Send an email to brokers[@]ForexMarket.pk

Finding the Best Forex Trading Software – FAQ

The currency trading software intended for the personal currency trader comprises a rapidly growing segment of the forex industry. A number of different types of forex trading software have found their way into widespread use among personal forex traders.

The common types of currency trading software include:
Trading platforms: allow the manual management and execution of forex operations.
Technical analysis software: provides graphs of historical exchange rates and technical indicators.
Trade signal generators: provide recommended levels at which currency traders can start and close positions; Y
Forex Trading Software or Forex Automated Robots: execute operations automatically according to a preprogrammed operations algorithm.

How are you going to find the best forex trading software? Well, perhaps the best idea would be to download some representative programs and test them within your return period to see what works best for your needs. If the software is not well suited to your purposes, send a refund request. Another way to do advanced research on forex trading software would be to read online product reviews and publications in user software discussion forums.

To help you even more in the process of finding the best forex trading software, the Frequently Asked Questions terms below provide a useful list of items you can consider when buying forex trading software online.

Forex Trading Platforms

In general, currency trading platforms offer their users the possibility of manually entering and executing currency transactions with an online forex broker. They usually require a reliable Internet connection to function efficiently, and if they require a software download, they usually run on Windows-based computers.

The most advanced features of the trading platform could include: the ability to manage multiple trading accounts, graphical creation functionality and algorithmic trading support with backup testing capabilities.

Forex Charting Software (Technical analysis software)

Forex charting software can encompass a variety of computer programs that facilitate the review of exchange rates using technical analysis methods. The most basic programs of this type will generally allow you to trace the progress of exchange rates over time over several periods of time, overlay some of the most popular technical indicators such as RSIs and moving averages, and draw trend lines .

The more sophisticated graphics software generally offers some support to operators who use Elliot Wave Theory to analyze the movements of the exchange rate that would include the calculation of the Fibonacci retracement and the projection levels. Additional features of advanced forex charting software may include: more advanced line drawing options including Gann channels and lines, computation and pivot point visualization, as well as providing a wider range of increasingly complex technical indicators .

An even higher level of graphics software often includes some kind of pattern matching algorithm that identifies the formation of graphics patterns, together with their trigger points and measured movement targets. Another software based on Elliott’s wave theory could count the wave progressions

Forex Signal Generating Software

Forex signal generation software or forex signal generators are not usually exchanged automatically by a user. Instead, they provide levels at which a trader can enter the market and, in general, have a means to alert the trader to such opportunities.

These signal generators also usually offer suggested levels of profit and loss so that the merchant can adequately deal with any loss or gain in any position he takes based on the signals generated by the software. Keep in mind that there is no guarantee that a stop order will be filled at the stop price and the same precautions apply to these products as to the robots.

Automated or Algorithmic Trading Software

The automated trading software works in accordance with a predefined business plan or algorithm without the need for manual intervention. Sometimes, they are also called Expert Advisors or EAs and often run as such on the popular MetaTrader4 trading platform. The so-called forex trading robots available in the commercial currency market are generally included in this category, as are the custom business plans that the merchants program or have programmed themselves.

Often, this automation helps traders by eliminating the emotional and discretionary component of the operation of a particular system, and once they are configured, they can also help an operator save considerable time. In addition, these systems can sometimes offer assistance to beginning traders who want to learn how to trade as experts.

Forex Trading Robots

Forex trading robots are one of the main types of automated trading software currently available for personal forex traders. Most of them are installed quickly and run as Expert Advisors on the popular MetaTrader 4 trading platform. Many of these robots are scams and even if they are not, they do not fulfill the promises they make in the sales promotion. In general, stay away from this type of forex products, but if you consider using one, be very careful and do not rely on historical performance.

Another thing to keep in mind with forex trading robots is that their suppliers often provide profitability figures based on commercial results tested throughout the periods in which the robots are optimized to work well. This means that future business results may differ materially, and generally do so.

Therefore, it is worth trying these robots in a demo account before setting them up to operate with real funds. Also, look for unbiased reviews of the Internet and review online discussion forums to get user feedback on any forex trading robot software you may be considering buying.

Also, since most of these forex software products are sold through Clickbank, you will generally have 60 days to return them for your money if you are not satisfied with their performance. Make sure you have done the tests before you need to take advantage of this offer.

In other words, be very careful and do your research. Most of these products are not what they say they are!

In the list below you’ll find our reviews of some softwares on the market, read them and give your own review if you have experience from them!

  • Trade Chimp, high frequency trading expert advisor
  • FAP Turbo, Expert Advisor automated trading software
  • Forex Killer, trading signal generator service and automated forex trading software
  • True FXSignals, signal generator service
  • Forex AutoMoney, trading signal generator service
  • Forex Ambush, signal generator software
  • Forex Megadroid, Automated forex trading software
  • Trade Oracle or Traders Oracle, trading signal generator service
  • Greenlight Forex or G8Forex, signal generator service

Different features to look out for in these softwares

Purchase and Refund Policy

Most forex trading software available for sale and download online comes with a satisfaction guarantee. While the terms of these warranties vary and must be verified before purchase, this usually means that you should only contact the seller or sales agent to request a refund if you are not satisfied for any reason.

Many forex trading software products are sold online through Clickbank, which generally offers a standardized 60-day money back guarantee for the software sold through its secure online interface. However, requesting too many refunds can cause problems, so keep that in mind when you buy.

Downloads

Almost all forex trading software intended to be used by personal forex traders will provide a download option. Sometimes, you can buy CDs containing the software or send it through an email attachment, but more often a download link will be provided once you pay for or provide the information necessary for the software vendor to purchase the software. currency allows you to download the software.

By clicking on this link, you will usually start transferring a functional version of the software from the Internet to your personal computer. This download process can last from a few seconds to an hour, depending on the size of the program and the speed of your Internet connection. You will also want to scan any downloaded software for viruses using your antivirus software, and you may need to activate it in some way. Simply follow the instructions provided and contact customer service if problems arise.

In addition, most forex trading software is written to run on personal computers running a relatively recent version of Windows. You will have to keep that in mind when looking for forex trading software in case you do not have a compatible operating system or an emulator available on your computer.

If you do not have the ability to run Windows-based software, be sure to check with the software product vendor to make sure that your operating system is compatible and how.

Software Updates

Many of the high-level forex trading software products will provide free software updates for life or for a specific time. These updates can be important because they can correct existing problems or provide new and useful functionality.

Therefore, having software updates included in the cost of the software can be a valuable feature. Most software updates are installed automatically by the software or require a new version of software that is downloaded from the Internet and installed manually on your computer.

Online or Web-Based Platforms

The online or online trading platforms eliminate the time factor of download and the possible frustration of the installation when executing the forex trading software. To use most online platforms, you only need to log in with a username and password that you have chosen to maintain the privacy of your information.

The main advantage of this type of commercial platform is that, in general, you can use it anywhere you can access an Internet connection and a compatible web browser. They also allow their use by operating systems other than Windows, which can really help Apple’s Mac OS and Linux users to start trading in currencies.

Client-Side Platforms

In general, client-side platforms consist of those products of the forex trading platform that require the software to be downloaded to the operator’s personal computer or to a remote server that then pays a fee for the use of the space and the access. This term is often used to contrast such installations of downloaded platforms with web-based forex trading platforms.

Data Security

When you need to access or provide personal and private information over the Internet, such as credit card numbers, bank account information and business account information, the security of your data against unwanted prying eyes that can unduly use it becomes something primordial. Also, if you store key data online, you will want the host to back up that information regularly.

Make sure that your forex trading software, especially if it is based on the web, and your forex agent use the appropriate data security measures to protect your data. These may include the operation of duplicate data farms and the use of SSL encryption technology to protect any personal information entered into online forms.

Real Time Exchange Rates

The best forex trading software shows near real-time exchange rates that change along with the market as it increases and decreases over time. Naturally, the best type of exchange rate in real time is the one with which you can negotiate. In this way, when you enter a trade or an order using the software of your forex trading platform, you will not be surprised where the market is really operating.

Remote Servers

Remote servers provide a useful service for those who run forex trading platforms downloaded or on the client side. This is especially the case when they require market execution and monitoring capabilities 24 hours a day, which may be essential to run an automated forex robot or a profitable trading algorithm.

Most remote servers charge a fee for hosting currency trading software in their storage space and for allowing the software to use their always active Internet connection to execute operations through. Such services generally offer a high degree of reliability in terms of providing 24/7 Internet access to software installed on their servers.

Trading Interface

The commercial interface is whereby the user of the forex trading software interacts to execute forex trades. This interface must be ergonomic and generally acceptable for its purposes. Most commercial interfaces can be customized, but to what extent it generally depends on the software. Adjusting the window location and display colors are common changes in the business interface that most platforms allow.

Technical Indicators

Many forex trading platforms provide a built-in graphics capability with the most common technical indicators. Technical analysts use one or more of these indicators to determine how to operate in the forex market and also to generate objective trading signals. If you need to use a particular technical indicator for your business strategy, make sure that any platform under consideration includes this indicator.

Customer Service and Support

Once you have purchased or decided to use a particular forex trading software package, you will want to make sure that you provide an adequate level of customer service and assistance should problems arise in your use. This is especially important for beginners who do not know how to use computers well or how to exchange currency, or both.

Naturally, if a software package is provided free of charge, it is reasonable to expect that less customer assistance will be offered. In addition, you probably want a higher degree of support for essential software such as your trading platform available.

User Manuals

Most forex trading software packages come with an explanatory User Manual, often in the form of a separate PDF document or incorporated into a help function within the software itself. This manual should provide you with all the information you need to start using the software, as well as how to use all of its most advanced functions. The manual should also provide information for troubleshooting, as well as who to contact in case additional assistance is required.

Instructional Videos

Forex trading software packages come increasingly with useful instructional videos that can be downloaded or played with your Internet browser. These videos usually contain screenshots of the software that is used along with any audio or text necessary to describe how the software should be used and for what purposes.

News Feeds

Forex trading platforms often provide access to high quality news sources from professional forex information sources that may include Reuters, Associated Press, Bloomberg or Telerate. Verify that the news provided by your trading platform is adequate for your needs, especially if you have a strong interest in operations based on fundamental factors.

Now we want you to contribute your forex software experiences, give us your opinions or ask us to review software that you do not find in the previous list. Give your comment below!

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