Trading Forex with the Right Software

The trading software is one of the more overlooked aspects of trading Forex online. For those who are not familiar with the Forex market, it is extremely fast-paced and volatile. That is why all brokers claim that their software offers the minimum latency in providing real-market updates. Unfortunately, this is a very generous statement and it does not take into account the client’s internet connection or his geographic location.

The client’s connection to the web is obviously the most important factor regarding receiving real-market updates from the broker. It really should be the best connection that one can afford, whether it is cable, satellite or ISDN. Cable is the preferred connection, as it is more secure and offers greater bandwidth.

And then there is geography. It is common sense that Broker X who is located in Toronto can establish contact with Client A located in Montreal much faster than Client B, who is located all the way down in Mexico City. The fact is that all internet connections are affected by distance. The farther a client is away from his broker, the more delay he will receive as a result because of the physical limitations imposed on wiring. Thus, always research your broker’s geographic location before selecting it as the right one for you. For best results, always choose a broker who is closer to you.

Any decent broker will offer its trading software for free. Some will even offer different versions of its software for traders of different skill levels. Usually, “advanced” versions loaded with extra features are available for free to those who request them.

Trading software comes in two flavors- web based and client based software. If your broker offers both kinds, great! Each has its own advantages, but it is the general consensus that web-based software is better.

Web based software operates completely on the broker’s server and is interfaced through a web browser like Internet Explorer or Mozilla Firefox. This creates a lot of flexibility for the client, as he can access his Forex account anywhere providing he has access to an ISP and a browser. Security with web based software is not an issue, as all exchanges between the client and the broker take place over secured sockets and are heavily encrypted.

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TimeFrame M5 Version 3.1

Expert Advisor “TFOT” based on two different strategies – this makes the advisor is insensitive to market conditions.

Both strategies work like two single modules. It help to avoid big drawdowns and strategies will hedge each other.   Strategies use signals from standard and non standard build-in indicators and open/close prices values. This expert advisor can be used with any brokerage company.

You can use this EA with NFA and non NFA Brokers.

If you are just starting off with Forex, be sure to take these factors into consideration when selecting the best broker. Analyze the features of the provided software to make sure that they’re right for you. So with all that said, good luck and happy trading!

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