Forex Software Packages

If you plan to begin Forex trading you will of course have to use a software system. This system will make it easy for you to get information quickly about market prices and to make trades. There are two types of Forex software available: client based and web based.


Because the Forex market is a fast moving market so you will need up to the minute information to make informed trades. A high speed internet connection at home is a must for every trader. Dial up internet access will absolutely not work for decent trading. You should have a thought about the location of the servers which are used by your broker. If your broker's servers are located in a longer distance from you - e.g. in another country - this could potentially slow down your trading. If you plan to trade online you must have a modern computer and high speed internet connection.


You should think about which type of software you want to use: client based or web based? Web based software is offered on your brokers website. You will not have to install any software on your own computer. A web based software program will allow you to log in from any computer which has an internet connection. A client based software program or one which you download on your own computer will limit you to transactions only on the computer where it is used. Web based software programs are favoured by most brokers who think they are more safe and reliable. Web based software is inclined to be less liable to attack from viruses and hackers during transmissions than client based software.


Any Forex software should provide you real-time quotes to enter and exit the market quickly. These are minimal features of any trading software. Upgraded software packages are usually provided for an extra monthly fee by some brokers.


Generally brokers will have client information on two severs which are kept in two different locations. This is to guarantee that the client data is kept as secure as possible. If there is a problem with one server the data is sent back and the second secure server will step in and you will not notice an interruption. Steady backups of these servers is another way to keep financial data secure in case of any server failure.