Want to trade forex? These platforms can help

No matter whether you are just getting started in the forex market or if you are an experienced trader looking for new tools to help you meet your goals, the good-old internet has plenty of solutions for you in the form of trading platforms that you can take advantage of. Here, we’ll run through just a few.

FOREX.com

The folks at FOREX.com offer several products that can come in handy for the forex trader.

First, FOREXTrader (www.forex.com) is a custom-built platform for active currency traders. It is a fully customizable trading platform that allows users to trade 50 currencies, plus gold and silver. The web-based platform comes with free research, analysis and trading tools and includes web and mobile interfaces for iPad, iPhone and Android so trades are never more than a click away.

The same folks who brought us FOREXTrader also have created MetaTrader 4, which boasts flexible lot sizes, including micro lots, and works without third-party bridges. It also hosts mobile trading from iPhone and Android and includes some slick trader tools and resources, including live commentary from researchers and real-time technical analysis.

If you are new to forex and want a platform that does much more hand holding, you might try tradable (again from the folks at forex.com). It offers a set of prepackaged settings that you can use as-is or customize as you become more comfortable with the market. The out-of-the box settings include “New to Forex,” which features “learn as you go” tutorials, decision support and risk management controls. Level up to the “Semi Experienced” setting that includes social trading, position management and helps you identify trading signals. Finally, you can graduate to “Experienced” settings, which offer interactive charting, automated trading and advanced monitoring tools. Think of this one as your first bike, complete with removable training wheels.

Easy forex

Then there’s easy-forex.com, which also offers several trading platforms.

Their Web trading platform is called Visual Trading Machine. It’s multilingual, offers real-time rates and one-click trading. There’s a downloadable platform that’s automatically synched with the web version. The platform also offers a feature they call Trade Controller, which allows you to visually adjust the parameters of your open deals and explore alternative scenarios. It’s a good tool for visual thinkers. You can set SMS alerts and freeze rates for a few seconds while you consider your options.

Easy forex also offers a platform they call MT4, which offers fixed spreads and microlots, and allows expert advisors. MT4 offers no dealer intervention and flat market execution. It allows hedging, and features all the news an trading news feeds you’d expect from a forex platform.

Both of easy forex’s platforms have mobile capabilities. Web trading allows for trading of all instruments. MT4 offers trades of currency, oil, gold and silver. MT4 offers multi-terminal access, advanced charting capabilities and stores data history for up to 20 years. It offers more than a dozen languages. On the other hand, Web trading is friendlier for new traders, offering a trade simulator, one-click trading, guaranteed stops and a freeze rate, online chat and more robust news content.

Of course, there are other platforms out there as well for the new or experienced trader. Most companies offer some kind of introductory and some kind of advanced product – for a cost differential, of course. The trick is to do your homework and find out what service is going to best serve your needs. At the end of the day, the platform only will be as good as the user. There’s no magic bullet to trading forex, any more than there is any other magic market bullet. But taking the time to find the right platform for you will make your trades that much easier and potentially profitable.

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