What’s the most Popular Forex Platform

Forex or FX and the forex exchange market are considered to be one of the most exciting and fast paced markets in the world of economy. Before, forex trading mostly involved wealthy individuals, large corporations and companies, huge financial institutions and banks. Since the creation of internet, forex trading was made available online. This does not only makes forex trading easy and convenient, average investors are now able to buy and sell currencies anytime and anywhere through automated forex trading platform. When we say forex trading, it is defined as the trading of currencies of various countries against each other. Typically, trading is done through a market maker or broker. Currency trading is done within a forex exchange market. Most people do not realize it but currencies are important, and exchanging currencies are requird to facilitate foreign trade and business.

chart-multi-screens-bigAlthough manually done in the past, it is now possible to exchange currencies using a forex automated trading platform. Since it is automated, you as a trader do not need to be in front of your computer at all times making decisions as to how you are going to buy and sell currencies. These platforms already have programs to do these things for you. All you have to do is install the program on your PC, set the criteria according to your trading strategy and let the application do the job. Oftentimes, it is referred to as ‘droids’ or ‘robots’. Since it is online, it is possible to do forex trading anytime within 24 hours to almost any forex market around the world. Thus, what you need are only PC, internet connection and the software. Once the rules of automation are set, everything is good to go.

Top 5 Forex Platforms

Five of the most popular sites for forex trading software are: eToro, AVAFX, ForexYard, UFXBank and Finexo. Choosing the best forex trading platform online needs thorough research and comparison. Programmes vary in how they help you to understand the markets behavior. You need to combine the right signals with your own trading strategy and find a platform that provides you with accuracy and tool to manage less risk. Here’s a review of some of the top platforms:

EToro

The foreign exchange platform that is designed for those who are beginner in the trading industry. It is user friendly, and is good for those who do not have experience yet on currency exchange. However, the tools on the software are so reliable that it can be used as well by professional traders.

AVAFX

This is considered to be one of the most popular and biggest online platforms in the market having the most number of members and users. It also has the biggest number of trades in a month up to 1.5 million.

ForexYard

This is a trading platform that focuses more on trading tools as they believed that to become experts in forex trading, you need to be educated on the topic. Thus, the organization offers access and educational programs as well as trading tools for both beginners and professionals.

UFXBank

Considered as new in the forex broker industry, their website is easy to navigate and clear which indicates the kind of broker they are. Presently, it supports more than 80 currencies. It also offers a free demo acct for new traders.

Finexo

This web based forex trader that offers three various accounts: beginners, intermediate and expert. Since it is flexible, you are guaranteed to find the account that is suited to you.

Choosing the right one for you may sometimes be difficult. What you may want to do is to download some of their dummy software and try each one out.

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