It is very common these days for the trading firms to offer free and premium software for trading as the client opens a trading account with them. The software applications invariably offer variety of options like trading, analysis functions and research. These software’s also have technical indicators, news apps, fundamental analysis numbers.
Forex trading Software:
There are many good trading platforms available for trading bundled with unique features. Some of them are the Forex time, Ava Trade, FxPro, eToro, IronFx, Octa Fx. The new trusted and accurate software for trading is HBswiss . This software is Swiss made, free of all charges and is the upcoming leading trading software available now.
Finding the best forex trading software:
A number of trading softwares are widely available in the trading market for personal use. The features that all the software provides are:
- Trading Platforms: This allows for trading and management of all forex trades.
- Technical analysis software: This provides the various currency exchange rates and also the technical indicators.
- Trading signal generator: These are the recommendations for the clients to initiate and close out the positions.
- Forex robots: This is the automated forex trading software that has an inbuilt programmed algorithm for trading.
To select the best trading software it is advisable to download the software and use it. If not satisfied then get the refund of the fee. Or else the other best option is to read online reviews and comments posted by users before buying the trading software.
Salient features of trading software to look out:
- Buying and refund policy: Most of the software available online are not free. These have an option of sixty day money back guarantee for all the software sold via the online secure interface.
- Download: All the trading software intended for personal uses have a download option. It is easy and quick to download the software.
- Software updates: Most of the forex trading software is free for life. If any updates are there, they are installed by the software itself automatically.
- Data security: The trading software has encryption. Thus all the personal and trading data of the users will remain secure.
Lots of software is available for trading. The final deciding factor to get the best should be based on the product and it’s functionality that best fits the client. New traders can opt for a free of cost software, whereas the experienced traders can select those that meet their specific criteria.
Trading online with software which is a hand free trading has its own advantages and disadvantages. It has been a blessing as well as curse to some traders in the trading industry. To make money online this software, fintech can be used.
Advantages of using trading software:
- By using the software to trade, the emotions involved are almost zero. For those who are scared to trade and those who are prone for overtrading are well controlled by the trading software. There is no psychological or emotional trigger that defies trading.
- The ability to back test is an excellent way to trade before actual market trading. It refers to the rules of trading that determine the quality of the trading idea. In software all rules should be optimized as there is no scope for change or the software will not modify itself as per the changing trend of the market.
- While trading with the software discipline is well maintained even in harsh volatile market. This is because the trading plan is well established automatically.
- The software provides the traders to have and achieve consistency with trading. This is by trading the plan and not planning the trade.
- The software executes orders as soon as the trade criteria are met. This is not possible with manual trading as it takes time.
- With software trading multiple accounts can be used simultaneously.
Disadvantages of using trading software:
- Mechanical failures are inevitable with using trading software. If there is any issue with the internet connection, the trade order may not be placed. There could be other discrepancies arising with mechanical failures in trade.
- Though using software is all automated, it requires monitoring. Connectivity issues, power loss, computer crash or any such problem can be resolved if there is close monitoring.
- Over optimization leads to a trade plan that is not possible to execute while trading in live market. Over optimization to get 100% profit in trading will never be a viable plan.
Though the advantages outnumber the disadvantages, using trading software should not be considered as an alternative. It should be used carefully and with caution. Mechanical failures are bound to happen. So there must be strict monitoring even if you wish to use the trading software. Before investing in trading software it is better to use it and then invest on it.
Who does not want to make money?! There are plenty of options available online to earn money sitting comfortably in your pyjamas on the couch at home by just being hands free while earning.
Making money online is possible by binary options as in Fintech Ltd. By using binary options you can make money online easily. Binary trading option is investment and involves predicting the movement of assets like silver, gold, and the USD. This is gaining popularity around the globe. It is possible by using the fundamentals of binary trading and also proper trading strategies.
How to get started to make money:
In binary options you can make money online only if you consider it as a real and genuine form of investment. This requires the process of learning how binary options work, learning to read charts, and learning how and when to make predictions accurately. It is easy, not rocket science. It just needs time. You cannot consider it as gambling and make some random predictions. Definitely you will not win.
First of all, you need to choose a reliable broker. Select one that offers free demo accounts or you can even try at a signal provider who is genuine and reliable.
Then you need to set up an account for you. Later deposit some money in to it for trading. Then the software starts trading and making money for you.
The best way is by using a binary options robot. There are many commercially available. It is fully automatic. It makes an accurate prediction of about 87%. The robot automatically studies and analyzes the market and makes predictions for you.
Ways to make money with binary options:
- Using the software binary option, automatically it will earn you money by trading without you getting involved. It uses a combination of strategies to trade and gain money. It is free of charge and has very high prediction rate. It is perfect for beginners.
- Binary option robot can be freely downloaded on your computer. The robot trades based on signals it generates. All the robot software have 60 days money back guarantee.
- Binary option signal providers also help in earning money.
It is possible to earn money using binary options. They give huge returns and are market dependent. Trading by taking time and price as in binary options makes you a successful trader.
Forex trading robots have entered the trading market and are accepted widely. This is one of the many options among the automated trading software that is currently available in the market. These forex trading robots are generally considered as a scam as they do not live up to the expectations and promises of the companies offering them.
Forex trading robot is an automated computer programme that relies on forex trading signals that help in deciding whether to buy or sell a currency at any given time. They use the MQL scripting language and are built with the MetaTrader. These are available online like the HBSwiss http://cybermentors.org.uk/detailed-hbswiss-review-real-swiss-quality/.
Working of a forex robot:
The forex robot is designed to replace human trader. The robot is designed to generate returns to the user with the help of in built pre programmed routine plans to trade. The creator of this robot has put forward his skill and intelligence and that is shown in the manner it trades. The robot cannot change itself. It does not adapt or revise to the fluctuations and the changing conditions of the market. It only attempts to cut losses and does that according to the inbuilt programmes as given by the programme developer.
The commands followed by the robot are always depending on the technical analysis tools. To optimize the results of the robots some programmers who are advanced and sophisticated use back testing tools. These are all inbuilt programmes that are in the computer system.
Problems with forex trading robots:
- The main disadvantage with the forex trading robot is that it has been tested on historic data, but not on actual trading market. They are tested mainly on internet connectivity problems, software run issues. If any technical problem or any brief blackout that causes wiping away the account is encountered then the forex trading robot is useless.
- Your finances are in the hands of an automated machine which has no brains. It will not save your money if any technical or market related issues arise. In trade market change is constant and inevitable. In such circumstances using a robot needs careful supervision.
You need to be wise and smart before you buy a forex trading robot that will trade with your money. Using a robot without knowing what and how it executes trade and the troubleshooting if any issues will be against successful trading carrier.