Saturday 10 July 2010

Trading Platform

If you are serious about Forex trading, you should get yourself familiar with trading tools soon. Basically, I could categorize all the trading tools into 3 main category: Client based software, web-based software, mobile software...

Client based software are basically installed in your computer. They are OS oriented, and they run faster. And the best part is they are customizable. You could edit your own indicators, save your own template, and even write your own script. One popular example is MetaTrader.

Web based trading platform is hosted on the broker's server. They are usually run on Java. All you need is your account information, a computer with internet connection and browser, and you could trade. This means you could trade from where ever you are as long as there is a PC and internet. You may use any PC you can find that have a compatible browser, and no installation is needed. The down side is they take some time to load up, and the indicators and customization are limited.

Mobile platforms are great for you who always on your move. They will run on your pocket PC or smart phones. They are almost similar to client base software. It is recommended to use it to check the price as the small screen is not really suitable to make strategic decisions from the indicators.

There you go, above are the basic pro and cons of different type of trading platform. You could register several demo accounts and test their web based platform.