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Forex Trading Platforms
Here we will look at trading platforms which are commonly used and the biggest and most well known is MetaTrader. MetaTrader is a standard industry platform and is the most well known and most commonly used and offers security reliability and a number of analytical features and most brokers will allow you to use it.
In terms of Forex Platforms there are a number of different formats which you can use:
They can be installed directly on your computer and when you are not near your computer you can use web based programs or trade from your mobile. The variety of platform formats means, you are always in a position to trade where ever you are located.
While many traders want to trade themselves there are many who want to get help and there has recently been a huge rise in social FX trading.
Social Forex Trading
There are many social trading platforms and the concept is simple – you can follow other traders in the network and copy their trades and hopefully make money following their trading signals.
Traders online have been swapping ideas and trades in forums, blogs and social networks for a long time and the idea of following successful traders in a trading network is a logical progression and the growth of this segment of the Forex trading industry is huge and the number of traders participating and the dollars amounts transacted are staggering – let's take a look at a couple of examples.
The Zulu trading platform, has over a billion dollars trading on it and the company Etoro has a social network is huge with over a million traders using it. These platforms are two of the biggest but the idea of following other traders is growing at a rapid rate and new platforms are coming online all the time.
Best Forex Platform
Most brokers claim there Forex trading platform is the best but in terms of the top platforms there is not to much between them and which you like will come down to the services you specifically require as a trader.
The best way to find out how good a platform is you should try it on a demo account.