It is hard to determine which software is best because the currency trading software from each retail forex broker is so different. As such, the answer is very individualized, according to a trader’s needs. Most forex brokers allow you to open a demo account prior to funding a full account or mini account. Whatever specific currency trading software a trader decides to use, currency trading software must be a reliable go-between currency trader and currency broker. Platforms must also provide real-time and historical data to the trader and provide the him or her with access to all of the types of orders that need to be available to trade currencies efficiently. Do extra features cost extra money?
What technical indicators are available in the charting component? Can you trade from the charts? What types of orders are available? Is historical data made available through the software?
Does the platform allow for backtesting of strategies? Is the GUI conducive to monitoring a lot of information at once? Does the platform have an API that allows additional software or programming? Widespread availability of currency trading platforms from online forex brokers and independent software developers has allowed just about anyone with a computer and an internet connection the chance to trade currencies. The software a trader chooses is an important decision, as a trader will want to select software that has all of the features they will need at an affordable price.