Forex programs are useful exchange innovations that allow even a novice market participant to make as many profitable transactions as possible. In the modern world, it is clearly not worth giving up on assistive technologies. The abundance of specialized information is not always well absorbed at the very beginning of a trader's career. Therefore, the study of such forex programs allows you to really use your capital profitably.
If you go back to the trading period, when high technologies have not yet had time to become permanent assistants to investors, you will immediately see piles of papers, bustle and crowds of stock market analysts armed with pencils and handsets. In such an atmosphere, it was not so easy to solve the financial tasks set. Shouts of buying and selling are heard all around, digital displays flash and printed bulletins are scattered around. But now this process has undergone tremendous qualitative changes. All market participants got a lot of opportunities for mastering exchange trading.
Requirements for modern Forex programs
Today, almost the entire workflow of a trader has become automated. And this greatly simplifies the execution of transactions for both beginners and experienced players. Modern programs for Forex trading allow you to successfully work with financial assets without a long study of the intricacies of technical and fundamental analysis. However, there are certain requirements, without which the trader's efficiency will not increase properly:
Each automated Forex trading program is required to restrict access to its client's account. This is necessary in order for only one specific person to work with terminals and use the deposit. Investment safety is the first thing to pay attention to when choosing a useful trading software. Without decent anti-virus protection, two-factor authentication (most often this option must be enabled by the user himself) and the mandatory password entry to confirm some important actions, currency trading will be extremely dangerous.
- High-quality technology that ensures the smooth operation of all systems.
All equipment must be fault-tolerant and high-performance (laptop, PC, tablet). It is especially useful to have a stable power supply available. This also includes a high-quality Internet channel. It would also be nice to get an alternative source of the network (3G, 4G). Otherwise, during a period of high market volatility, there is a risk of falling out of work at the most inopportune moment. For all forex programs to function quickly and accurately, they require good equipment. In addition, I would recommend purchasing a sufficiently powerful mobile gadget to always stay up to date with the latest developments.
- Licensed software.
At this point, it is certainly not worth saving. Pay attention to the operating system, computer antivirus, and trading terminals. All of them must have a valid license. Otherwise, you really run the risk of being left without capital in the event of fraudulent actions by scammers.
Top useful Forex programs
The key to profitable trades is high-quality and timely market analysis. The more information you operate, the easier it is to correctly predict further changes in the exchange rate. Some Forex software for free is not so easy to get. Most often, brokers offer them to purchase. However, there are several freely available options that will come in handy for any trader. In some cases, advanced functionality is also opened only after purchasing an advanced subscription. However, basic options can be used just as productively. So, my personal selection of the most useful programs for a trader, sorted by purpose:
- Screening. The Think or swim terminal and Finviz.com will definitely come in handy here.
- Reporting calendar. The easiest way is to visit the official website of the company you are interested in and find out the publication date. But if you need to study a large number of documents, it will be much more convenient to turn to the resource Earningswhispers.com. The finance.yahoo.com project is also a good help. However, in this case, you will have to independently understand a huge amount of the most diverse reporting. So it is more suitable for an experienced trader after all.
- Fundamental analysis. You can also find out historical data on Finviz.com and using the Think or swim terminal. Additionally, I will offer another resource morningstar.com.
- Actual information. The latest news can be instantly received by subscribing to the MarketTwits telegram channel. Another option to stay up to date is to watch BloombertTV.
- Economic calendar. The most convenient service is still the notorious Investing.com.
- Signals. In principle, almost any modern trading terminal robot will suit you. However, I personally advise you to focus on the automatic assistant Abi or free advisor signals on the Binaroption website. The first option is a Forex analysis program that allows you to trade offline with little or no personal involvement of the trader. The second is designed to work on system signals. Both assistants have a high degree of reliability and popularity among investors of all directions.
Actual Forex programs for beginner traders
If you are just in the process of learning the basics of trading in the foreign exchange market, I recommend paying attention to the services that allow you to automate the entire process of making transactions as much as possible. The less a beginner will rely only on his own little knowledge, the better the result will be.
The Abi trading robot has an automatic trading mode. You just set the necessary settings, replenish the deposit for at least the minimum amount, and then activate an independent market analysis. The program compares the current situation on the stock exchange with historical data, detects similar positions and opens a deal that has the highest percentage of positive results. The robot fixes your earnings at the maximum profit. That's all science.
If you want to be more involved in trading, trade using the signals of the advisor. Connect alerts and independently manage your currency at the most opportune moment. Each signal is generated based on the performance of several indicators. Therefore, the effectiveness of this service is significantly higher than the work of any average professional trader.
Use all the possibilities of modern technology to the fullest. Competent automatic assistants and Forex programs will allow you to quickly get used to the market and start making good money with minimal risk of drawdown.