5 Forex Trading Software You May Want to Consider

The world of forex trading is a competitive one. It seems like every hour there’s another software launch, another forex trading software article detailing the ins and outs of this latest software release. This makes it almost impossible for a non-expert to make an informed decision when choosing a forex trading software. Fortunately, that’s not a problem for newcomers to the forex market who are looking to get their feet under the trading desk. In this article we’ll review some of the best forex trading software available, as well as offer our recommendations for the top 5 forex trading software.

MetaTrader 5 (MT5)

Once you download MetaTrader 5, you will learn firsthand that it is by far the most popular forex trading software on the market. It’s a Thomson Reuters product, which means it’s thoroughly tested and proven to be accurate and reliable. With more than two million customers worldwide, that’s a lot of people to go around. More importantly, though, is that it’s packed with great features and functionality. The one downside to MT5 is that it doesn’t support advanced indicators such as moving averages, stochastics, and others that can help you trade in more complex markets. Give it a try, you may download Metatrader 5 from reputable trading websites.

MetaTrader 5 (MT4)

If you’re more of an MT4 kind of guy, there are a couple of great alternatives out there. The most popular of these is MetaTrader 4 (MT4). Although many consider MT4 to be more beginner-friendly, there are a couple of things to keep in mind. First, unlike in MT5, you won’t be able to use indicators in MT4. Second, like in most forex trading software, you’ll need to learn the ins and outs of the different market hours.

Erebus FX

Erebus FX is a unique forex trading software, aimed at professional traders seeking more power than average forex trading software provides. Like many other high-end trading software, it comes with an expensive license fee.

Oanda FX-Pro

If you’re looking for a more all-in-one package that includes everything you need to get started trading forex, Oanda FX-Pro is the software for you. It has everything you need to trade forex online, including trading strategies, financial and technical analysis, and more.

TradeStation

TradeStation is a full-featured forex trading software that offers plenty of room for customization. It’s packed with advanced features, including currency pairs, indicators, and volume indicators, making it a great choice for seasoned traders.

Trading forex is a highly competitive business, and it’s not just the professional forex traders who are in competition with one another. Beginners also have to contend with the same issues that the experienced traders face, but luckily forex trading software comes with a wide range of features and is easy to use. After reading this forex trading software review, you’ll hopefully have a better understanding of what's available out there and what's worth your money. The best forex trading software is likely going to be the one that meets your specific trading needs and enables you to get the most out of your trading strategies. Thanks for reading our guide to the best forex trading software! We hope it helped you in making a decision when it comes to selecting the right software for you.

Of all the trading platforms on the market today, MetaTrader 5 has the most functionality, is very user-friendly, and can be integrated with a wide range of tools and trading strategies. Beginners will find that using MetaTrader 5 is as easy as piecing together a few basic trading tools. If you’ve been trading for a while and are looking to take your trading to the next level, we highly recommend that you try it out.