The trading platform you choose is an essential part of your forex trading. The most popular tools for currency trading are Meta Trader 4 and Meta Trader 5. These robust software programs come with other tools that will make your trading experience more accessible. Some of these programs also include automated trading software.
XE Currency
XE is an online currency trading software that is available in a variety of languages. It is regulated in the United States, Canada, Australia, and New Zealand. It is user-friendly and has good customer service. It supports bank-to-bank transfers and card-to-bank transfers in 139 currencies.
The currency exchange rates that XE offers are usually better than midmarket rates. The rates are constantly changing throughout the day, reflecting market conditions. XE also offers forward contracts, which let users lock in a rate ahead of time. This makes it an attractive option for those looking to lock in their foreign exchange rates.
XE offers both personal and business accounts. It is free to sign up for a personal or business account, although there are some restrictions on international money transfers. In addition, you can use the XE currency converter calculator to estimate the fees involved in a transaction.
Trade Interceptor
Trade Interceptor is a forex trading program with various advanced forex trading tools. It offers over 160 intelligence indicators and drawing tools to aid the trader. Although the program was initially designed for desktop computers, it is now available for mobile devices, including tablets and smartphones. In addition, it offers touchscreen support and a split-screen mode, and a quad-layer mode.
The app offers over 60 currency pairs and indices, 40 graphical tools, and 80 technical analysis indicators. It also offers advanced charting features, including a daily economic news calendar, multiple chart layouts, and a range of time frames. Traders can also take advantage of the program’s Traders Gym market simulator, which allows them to back-test their strategies.
NinjaTrader
NinjaTrader is a powerful forex trading software that supports a variety of currency pairs. Traders can choose from three account base currencies: US Dollars, GBPs, and Euros. By choosing a base currency, NinjaTrader traders can avoid conversion fees. In addition, the software supports bank wire transfers and checks for withdrawals and deposits. However, if you want to use NinjaTrader to make a large amount of money, you can be required to sign up with a regulated broker first.
NinjaTrader also offers a wealth of research tools and charting features. Its user-friendly charts display tons of technical indicators. It also has a powerful automated trading tool called Bloodhound. This tool conveys trading signals visually on charts and in short posts. However, if you’re starting, you’ll want to take advantage of the free demo account before committing to the entire software.
Interactive Brokers
Interactive Broker’s forex trading software is designed to help you trade in the foreign exchange market. It has several advantages over other trading platforms. For example, Interactive Brokers Forex Trader supports 20 different order types and displays multiple currency pairs on a single screen. It also displays real-time market data and lets you drill down for more information. The software also features a digital interface and mobile experience and offers learning resources.
Interactive Brokers also offers a discount for active traders. This discount is available when you meet a monthly minimum trading volume. Another feature of this software is that it handles large order sizes on an RFQ basis, which minimizes the impact on the market and ensures the best execution.
Oanda
OANDA forex trading software offers a range of advanced analytical tools to improve your trading. They include economic analysis, real-time news feeds, calendars, and advanced data analytics. The “order book” is handy as it can give traders an insight into sentiment and behavior. Other tools include MarketPulse, Autochartist, and Dow Jones news. They also have pattern-matching engines, which can be helpful to experienced traders.
The web-based trading platform on OANDA’s website is fast and intuitive. It comes with over a hundred charts and analytical tools like technical indicators and drawing tools. The platform also has a live account feature and an advanced trader program.
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