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- To trade Forex, you will need to first access the market through Forex trading software
- There are different 3 types of trading software considered the best
- Depending on the device that you are using, the trading platforms can be divided into several categories
- The most popular Forex trading apps are Mobile trading apps, Web Traders, and Desktop platforms
Top 3 Most Used FX Trading Software Types
Most popular trading software: The most popular Forex trading software types are Desktop Trading Platforms, Web Trading Platforms, and Mobile Trading Platforms There are several software types available in Forex trading. These are desktop trading platforms, browser-based web traders, and mobile trading platforms. Forex trading platforms are also very commonly divided into two distinct categories, which are downloadables and non-downloadables. Best-known Forex trading platforms around the world are created for numerous different devices. This makes Forex trading more accessible for everyone. Today, you can trade Forex as long as you have a good internet connection. You can use Desktop computers, as well as smartphones and tablets. Mobile trading is making Forex trading a lot more accessible for everyone around the world. In today’s guide, we are going to talk about the most popular Forex trading platforms types, which are:- Desktop Trading Platforms
- Web Trading Platforms
- Mobile Trading Platforms
Desktop Trading Platforms
Desktop trading is one of the most popular forms of Forex trading. There are numerous Forex trading platforms available for desktop devices, which include Windows as well as Mac OS devices. Trading Forex on your desktop computer is very comfortable because you can have better control over the market. Charting and analyzing the market is very easy with desktop trading platforms. Among the most popular trading platforms are:- MetaTrader 4
- MetaTrader 5
- cTrader
Another very popular trading platform that you can download on your PC is cTrader. Much like MT4 and MT5, cTrader is also very popular among traders around the world. This trading platform offers traders a modern design and an easy-to-understand interface.
Thanks to numerous trading indicators available on cTrader, charting and market analysis are taken to a whole new level.
Trading using Desktop-based platforms is very useful for experienced as well as beginner traders. Compared to other types of software, those created for desktop computers are taking trading to a whole new level because of their capabilities.
Platforms like MT4, MT5, and cTrader offer traders the ability to analyze the market in greater detail. Also, these platforms are very easy to use and offer traders the ability to download additional indicators, or even create ones on their own.
There are several advantages that desktop platforms have over others. For example, in most cases, desktop Forex trading platforms tend to be more powerful, which means that they mostly are a better choice for technical analysis.
That said, there are many other types of trading platforms that are also very good for technical analysis.
Web Trading Platforms
If you are a trader who does not want to download the additional applications to their computer, a huge majority of modern Forex brokers will offer you the ability to trade Forex directly from the browser. Browser-based applications have become very common in the Forex trading market and today, some of them are able to offer a very similar experience as downloadable versions. When it comes to discussing trading platforms, there is no ‘third party’ web trading platform so to say. In most cases, the majority of Forex brokers offer traders their own versions of trading platforms. There are versions of MT4, as well as MT5 and cTrader available for web trading. While these platforms are very comfortable for many traders, there are many others who believe that trading through web-based platforms is not as easy as using downloadable platforms. One of the best web-based platforms that offer traders the ability to analyze the market is TradingView. TradingView is one of the most popular solutions when it comes to chart and analyzing the market.
Although you can’t actually trade Forex at TradingView, it still is a very popular software among traders. The main reason is that it works very much like a social media platform created for traders.
In addition to regular analyzing and charting, you can also use this platform to connect with other traders, see how they are trading Forex, share your ideas, and even ask questions about the things that you don’t understand or want to know more about.
Web traders are very easy to use and offer traders almost the same performance as downloadable versions of trading platforms. There are numerous Forex brokers that offer traders access to browser-based traders. There is no need to download any additional applications when you are using web trading platforms.