October 14, 2020

Forex software: let’s clarify the situation

green and red graphs

Let’s explain better: the only software you really need to do forex is the one provided by the broker when you open your forex account. The broker can provide a trading software that can be downloaded directly to the user’s computer or can provide a web interface for trading.

Getting started with forex is quick and easy, much easier than you might think. Thanks to the platforms created by brokers, it is technically simple to invest in the financial markets. The hard part is making steady profits by investing.

Either way, the two solutions (web or desktop software) have pros and cons. Until a few years ago, most of the best brokers offered them both, today almost all of them have opted to use web platforms.

According to some, installing the trading software on your PC would allow better performance, especially since response times are smaller. However, it should be noted that by installing the software on your PC you are only forced to trade from one location and if you want to change you have to reinstall the software.

Accessing the trading software via the web allows you to trade from any computer, simply by entering your username and password. As we said, most brokers have now opted for this second solution, eToro is one of them (visit the official website here).

As far as mobile devices are concerned, it has to be said that all the best brokers have high quality applications that are the equivalent of the forex programs you install on your computer. ForexTB is one of the brokers offering the best mobile platforms: try the free platform here.

Free forex software

We have just mentioned the existence of two excellent forex software such as eToro and ForexTB. Actually, there are others available to traders, but certainly in terms of eToro and ForexTB services they remain unmatched. Read on to find out why.

In general, almost all the best forex software is free. What do we mean by free software? We mean that you do not pay to download or install the software, you do not pay to open the trading account and there are no commissions on execution.

The best forex brokers like ForexTB or eToro earn only through a small spread, i.e. a difference between the price at which you can buy and the price at which you can sell on the Forex market.

It is never convenient, for any reason in the world, to pay commissions on the execution. Most experienced forex traders consider commissions on the execution a real legalized scam. Others, simply something to avoid.

But let’s now take a closer look at everything about the two platforms that we feel we can recommend here. Let’s talk better about the two brokers with the best Forex platforms around.

Automatic Forex software: choose eToro

The dream of trading automatically on the forex market is common to all, especially to those starting from scratch. The truth, however, is that the easy money usually thought to be associated with automatic forex trading does not actually exist.

Earning money always requires intelligence, passion and commitment, whatever the instrument you use. In this case, let’s say that the best automatic forex software is eToro.

The eToro platform is one of the best in the world for forex trading, above all it guarantees the possibility to make social trading, that is to say to automatically copy other, better traders.

Thanks to eToro software you will be able to trade for free on the forex market automatically. But there are no miraculous automatic trading bots: the system provides for copying the best traders.

You have to be careful, however. It is better not to think that this means automatically making money without any effort. Now let’s explain how eToro’s software for forex and other financial markets works and you will find that there are some factors to be careful with.

eToro’s software is very rich in information and helps you choose the best traders to copy. Meanwhile, here you will find the eToro review, to learn more about the broker, those who want to can open an account on eToro immediately to try Social Trading.

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