Forex trading requires timing, and it pays to keep an eye on it at all times. Thanks to technology, once limited only to desktop computers, it now fits neatly in your pocket. Select the best forex robot.
Smartphone trading apps have become extremely popular among currency traders, making them essential tools. Below are three qualities to look out for when selecting an excellent Forex app.
MetaTrader
MetaTrader is an electronic trading platform used to make investments in financial markets. The software analyzes market data and patterns to predict future behavior based on past performance. Traders and market analysts can use MetaTrader to enhance decision-making processes and maximize profit while automating trades at optimal times and automating order execution at just the right moment. Users may access it either as desktop applications or web services.
MetaTrader 5 provides traders with numerous features to help them meet their financial goals, such as automated trading, support for multiple timeframes, and one-click trading. Furthermore, copy trading allows traders to emulate successful traders’ trades.
Traders can utilize this platform to trade various financial instruments, including forex, commodities, and equities. Furthermore, it offers a free demo account so users can test out its software before using real money. Furthermore, it features an intuitive user interface compatible with mobile devices, an extensive library of indicators, and a powerful programming language—perfect for traders to test out before investing real money!
The platform itself is free for download and use; however, your brokerage’s fees will ultimately determine your costs. In addition to platform fees, some brokerages may levy additional trading commissions; it is, therefore, wise to evaluate several before selecting one as your provider.
FXStreet News
FX Empire is a trusted currency trading resource that provides instructive content and tools. Its forecasting department issues weekly predictions and evaluates currency pairs; there’s also regular content covering commodities and equities. The website can be accessed on desktop, mobile, and tablet devices, and it hosts international conferences and expos!
FXStreet News goes beyond providing an economic calendar by offering several filtering options to help find relevant news and events. You can search by country, event type, or impact, look up specific keywords, or select specific dates on their calendar. The calendar is more user-friendly than some competing sites, such as Dukascopy, but it does not provide customizable date range options.
Economic calendars can be invaluable tools for trading currency. Ours offers an upcoming economic release list in real-time that allows traders to interpret market trends, estimate impacts on currencies, and justify trades. What sets this calendar apart from other online calendars is its global coverage: Japanese, Simplified Chinese, Traditional Chinese, Russian, French, German, Indonesian, and Spanish content can all be found there! Additionally, we have a free plugin for MetaTrader 4 that delivers news stories directly into your trading platform so you can focus on trading instead of worrying about the technicalities of data delivery!
IG
Instagram (IG) is an easy and free social media platform that enables users to post photos and videos. With features designed to facilitate connection with others and tools for tracking the performance of posts, IG offers excellent potential as a marketing platform for business or personal brands alike. If you’re new to IG, read on for some tips and tricks to get you going!
Sometimes, it can be challenging to understand what acronyms and text slang used in casual digital conversations mean. When encountering letters that seem out-of-place or that make no sense at first glance, it might seem that there is some form of spelling error, but in actuality, many abbreviations do have specific meanings and can be applied in different situations.
eToro
eToro is an online brokerage app that allows users to trade currencies, stocks, and commodities. The app boasts numerous features and functionality for trading, such as copying other traders’ trades with leverage or copying other traders’ trades made on other exchanges. Unlike some competitors, eToro does not charge commissions when trading and does not impose minimum deposit amounts; however, currency conversion fees, withdrawal fees, and inactivity charges do apply on this platform.
eToro offers traders trading tools that allow them to quickly build watchlists and monitor prices of their desired assets while receiving real-time market information and opening positions by clicking symbols. Its interface is user-friendly and suitable for beginners; additionally, ProCharts, with 66 indicators and 13 drawing tools, provides full charting functionality.
One of the most popular uses for eToro is through its CopyTrader feature, which enables users to copy other traders and replicate their trades. This social trading option is beneficial for novice traders because they can learn the ropes without risking their capital. Furthermore, eToro features an educational section with helpful insights and advice for trading.
