Forex tools for more efficient trading; FX trading strategy tools; How to find trading opportunities. Our top FX tools for finding trading opportunities are Forex calendars, trading news feeds, technical analysis tools and idea-generation tools. All of these can tell you about what is shaking the market, meaning more trading opportunities for you. 📈 FREE: The Complete Price Action Strategy Checklist - In this Bangkok Forex trading vlog, I share the 7 best Forex trading tools I've.

Forex trading tools can either be paid for by subscribing to a service, or are offered free of charge by a forex broker, a trading platform provider, or as in the case of an economic calendar, by a significant number of websites specializing in financial and forex market news. The Bollinger Band is a popular trading tool amongst forex CFD traders. It is a representation of highs and lows of forex CFDson a relative basis over a specific period. Furthermore, the tool. With the XM algorithmic trading tools at hand, online investors have access to a wide choice of professional technical analysis tools to apply to their online forex and CFD trading practices. 6 Asset Classes - 16 Trading Platforms - Over 1000 Instruments.

Beginners generally need a lot of help in trading. This help will come from an assortment of tools and software which we shall call the best forex trading software for beginners. What are these software and what can they do for traders in the market? Here is the list of trading software that beginners can deploy to make their trading venture worthwhile.

• Charting Software

There are several charting software out there. Even the favourite trading platforms that are used by retail traders contain charts. However, there is a need to go the extra mile and get hold of standalone charting packages that enable a trader do a lot in terms of chart analysis. One of such charting software which is free to use is TradingView. TradingView does have a premium package, but these are not necessary for a beginner to use.

TradingView Chart for EUR/USD

Beginners can simply go to the trading view website, and select the assets that they want to view on the charts. TradingView arranges charts according to asset classes and has a wide array of tools which can be applied to the charts. Another benefit that comes from using TradingView is the delivery of news updates in the bottom right corner of the page, allowing users to get some information on the latest news regarding their chosen assets.

• VPS

Virtual Private Servers (VPS) with virtualization technology have become an indispensable tool for traders who use forex robots to trade. The use of forex VPS handles extrinsic issues that affect trade performances. Issues such as network failures, trading server downtimes, slow platforms, slow internet speeds and latency in trading, can all be taken care of by the use of sound VPS systems.

Some brokers have incorporated the VPS into their trade offerings, allowing them to be used for free when traders are able to generate a certain level of trade volume on live accounts. There are also third-party providers that allow traders subscribe to various categories of VPS services for a fee. Whatever pathway a trader decides to choose, a VPS is an indispensable tool and beginners need to incorporate this tool into their trading as soon as they can.

• Social Trading/Copy Trading Software

Social trading and copy trading are passive investment methods that have been designed with the beginner forex trader at heart. These tools give beginners the opportunity to copy trades of other successful traders on the platform (manually or automatically), and hence replicate the same trading results of these traders on your account. Copy trade software may arguably be the most treasured beginner trader software yet developed, as they significantly reduce the learning curve for the trader and get the beginner up and running as if they had been trading for years.

It takes a little of skill to choose the right trader to follow. But once a good choice has been made, the copy trading software handles the rest.

• Trading Central

Trading Central is a source for user-friendly technical analysis and trade calls. Trading Central is run by licensed independent investment advisors, and the team provides robust coverage of more than 75,000 assets across several markets as well as a patented chart pattern recognition tool. I say to any beginner in the forex market: if you want to learn and be a master at forex a lot faster, Trading Central is the school to be. You will learn from investment analysts who actually trade. So you will be feeding from those who walk the walk and talk the talk.

Trading Central has an evaluation period that enables you see what they have to offer you in the market. Following the trial, you can subscribe to any one of their products or services. It will be money well spent.

• Autochartist

Autochartist is a chart pattern recognition tool which comes as a standalone product, and also comes as an add-on to the MT4/MT5 from compatible brokers. This product has been fine-tuned over the years and it has gotten better at what it does.

In addition to chart pattern recognition, it also features a volatility analysis tool as well as a tool to delineate support and resistance areas. You also get a free trial period, after which you can either subscribe to the standalone version, or maintain a funded live account with a partner broker to get the add-on at no cost.

• MQL5 Community

If you love the MT4 and MT5 software and you cannot do without these trading platforms, then you need to love the MQL4 and MQL5 Community Marketplaces. These marketplaces are where you have a collection of anything that has to do with the MetaTrader trading platform. Is it indicators, scripts or forex robots you want, or perhaps you just want to look up some literature on how the two platforms work? You can go to the terminal window of the MT4 or MT5 platforms, click the tabs circled below, and you will be taken to the appropriate sections of the MT4 or MT5 Community websites.

It is also possible to pay for any software you want to buy from your trading account balance. A simple click of a few buttons will do the trick, allowing you to get access to any commercially available products in the marketplaces.

• EA Creator Software

The realm of programming of forex robots has gradually been demystified, allowing individuals with no programming knowledge to code robots for themselves. There are many of these tools around.

A Google search using the search phrase “EA Creator software” will present you with several tools that enable the creation of your own forex robot, using your own parameters, without the need to know complex programming languages.

Conclusion

Overall, all the tools above are impressive and offer traders all they need to begin profiting in the market. The tools are useful and will save traders some of their valuable time, all while helping them to gain financially. However, the ideal forex tool for any trader will come down to personal preference. While some may prefer a desktop download application, others would rather use a web-based platform. Automated trading is cool, but some advanced traders would rather trade manually. So, whichever application you decide to settle for, you would do well to ensure that it meets your trading needs. Don’t get a trending tool just for the sake of it.

Rate this article:

[ratings]

Forex tools are reviewed and analyzed. Find the most appropriate currency trading tools for your trading style

Sponsored by

Review of GFT DealBook 360 Charts

For a piece of software that serves primarily as a broker interface, DealBook® 360 is extremely functional, accessible to traders of all skill levels, we can recommend it to anybody who wants to do their analysis and trading with the same software package. GFT’s DealBook® 360 software serves as a front-end for GFT's trading system, and combines the ability to trade live with a fully functional charting package, white-box language for coding your own indicators and trading strategies, and some advanced alert and automation features that make it an extremely impressive package.

Top Forex Trading Tools Tools

Review of GFT DealBook 360 Charts

For a piece of software that serves primarily as a broker interface, DealBook® 360 is extremely functional, accessible to traders of all skill levels, we can recommend it to anybody who wants to do their analysis and trading with the same software package. GFT’s DealBook® 360 software serves as a front-end for GFT's trading system, and combines the ability to trade live with a fully functional charting package, white-box language for coding your own indicators and trading strategies, and some advanced alert and automation features that make it an extremely impressive package.

Currency Trading Software from eToro

eTora is forex trading software with innovative features like ability to open multiple positions in a single click, a community module with championships and chat and the best GUI in the forex market.

Forex Guru Hedging Analysis Tool

Tradecision Review

This is a amazing tools for pro forex traders having more than 100 technical indicators that measure trends, momentum, and volatility.

ActionForex Interbank Forex Simulator Reviewed

This Forex simulator comes in quite handy for beginners as well as the experienced traders. It has the provision to combine the forex price data management via advanced charting controls and digital record keeping.

Currency Trading Simulator Product Overview

This Forex simulator has an easy to use interface and has numerous views to mix and match and customize the trading strategy along with the ability to display 20 currency pairs in a different window.

Detrended Price Oscillator by CMSFX Reviewed

This Forex technical indicator tool eliminates the trend in prices by filtering cycles longer then their moving average. This tool identifies short-term cycles for a quicker determination of potential overbought and oversold levels.

GFT Forex Phone Trading Program DealBook Mobile

DealBook Mobile can be used to keep a track of forex market on the move that allows the user to get forex quotes streaming in real-time and full color charting that has access to the 60+ currency pairs available from GFT.

GFTForex DiNapoli D-Levels Reviewed

This Forex tool provides powerful Fibonacci analysis experience through advanced trading analysis strategy and powerful indicators for Fibonacci ratios to forex trading. The set of indicators are modular in nature, hence can be used selectively or together.

Investment Studio Portfolio Management Software

This Forex tool is used plan, track and analyze an individual's investment.With the more than 400 powerful built-in functions, a trader can create custom indicators and functions, freely mix different currencies and markets and multi-currency portfolios.

Marketiva Streamster

How To Use Forex Trading Tools

This is a free forex tool that enables you to learn forex trading with the help of a virtual trading desk.

MTI Forex Starter Kit

This Forex Charting tool is directly connected to the MTI's online multimedia room with professional traders and online video mentoring facility.

Popular Back Testing and Strategy Development Software TradeStation

This Forex tool tracks the trading open positions based on the exit rules framed by a trader and allows full automatic execution of the trade strategies.

Practice Currency Trading with ProFinancialFX.com Forex Simulator

This Forex simulator comes in handy for the pivot point forex traders. This tool acts as a simulator for the new traders as well as performs as a fully functional trading tool for the experienced traders.

Review of FXCM Platform FX Trading Station

The FXCM Trading Station is a great trading station that feeds real-time streaming prices and offers a No Dealing Desk execution option is designed for active forex traders. FXCM offers traders all the advantages of a No Dealing Desk option with the added benefit of the ability to place orders over the phone 24 hours a day.

Risk Assessment Software MTPredictor is Reviewed

This Forex trading tool that helps in determining low risk trade opportunities and also helps predict how much to risk on a trade.

Seer Backtrading and Quantative Analysis Software

The Seer application has the ability to backtest and optimize multiple systems across multiple time frames through its Advanced Position Sizing mechanism.

TradeAnalyst will Analyze Your Trading History for FXCM Accounts

This Forex analyzing tool comes with multiple features including the ability to sort trades by pips, date, time, day of week or pair as well as providing the provision to look up the strategy that has been framed in form of numbers.

Trend Visualizer Technical Indicator Bringing Cross Verification

This Forex indicator projects execution charts or main timeframe trading chart, trading signals from higher timeframes and allows traders to concentrate on the timeframe they are trading while having the important upper timeframe signals in front of them at all times.

Conquests Software Automatically Opens and Closes Trades

This Forex EA tool is an automated application that does not use charts or graphs to analyze the market but features opens trades from the stocks that possess the highest potential for profits.

EZCurrency Multiple Instrument Dealing Platform

Ezcurrency is a real-time trading system which can be used to trade in currency, stocks, indices, commodities and much more efficiently and securely.

Forecasting Software Cyklotron 2.4.2 is Analyzed

Forex Trading Tools Mac

This Forex trading tool provides a unique feature of having all the data from the different vendors in the csv or txt format for the trader. This tool can also be used to adjust the trade frequencies and minimize the drawdowns, to achieve better results.

Forex Tester Simulation Software is Analyzed

This Forex Simulator is an excellent tool for studying forex trading in a fast and convenient way by providing facilities to create test trading strategies based on real time historic data.

GFS Forex Trading Software OperaFX Pro

This trading tool offers a real time forex trading that has a single window which can be used to perform all operations and also Real Time Streaming Quote that shows all currencies prices in one single panel.

MACD X Predictor by MetaFX-Int

This Forex tool proves to be an indispensable tool for all the traders and is a very reliable technical tool for accurate probability.

Market Hours and Analysis Provided by Forex Trader Sidekick v 2.0

A great reference tool that provides real time forex market hours in the Tokyo, Sydney, London and New York forex markets.

Review of GFTForex Foresight-A.I

This Forex tool is a high end timing tool and a leading indicator to help an individual to plan the markets move for the next day, based on the forecast of the next day's market.

Forex Trading Machine Training and Software Program

This Forex tool is composed of three Price Driven Forex Trading systems that together analyze the forex market without using any type of indicators, support or resistance levels, moving averages, pivots, oscillators, fibonacci, trend lines.

Market Traders Institute Forex Economic Calendar Reviewed

One Click Trading Tool ButtonTrader is Reviewed

This Forex trading tool provides versatile and innovative visual interface to display the market action on real time basis. This tool is used for scalping to position trading with flexibility to maximize profit and minimize losses.

Open Position Ratios from Oanda Are Presented in A Graph

Review of Real Time Forex Trading Platform

A forex trading software which allows you to trade in real time over the internet.

RSS News Feed Reader by OrangeFX

This Forex tool comes equipped economic calendars and Forex quotes from various resources to a trader.

Trading Simulation Software Forex Simulator is Reviewed

This is a forex trading software, used to enhance the trading ability of an individual. It is used to trade currencies, commodities, future index, stock using real tick data, etc.

CMS Technical Indicator Accumulation/Distribution Reviewed

Free Trading Software Tools

The Accumulation/Distribution tool analyzes the cumulative flow of money being used to trade various currency types for the purpose of extrapolating pricing trends.

Market Simulator Tool PriceMotion For Trading Game

This is a Forex simulator, providing interactive game theory to help beginners understand the forex market.

Monitor Forex Market Hours with Free Tool

This simple tool allows you to track the most active sessions in markets worldwide.

Open Orders Summary

Tools For Forex Trading

Review of VT Trader Forex Autopilot by CMS FX

Forex Trading Tools Pdf

This Forex trading tool, as the name suggests is a complete auto piloted technology, which does not require any human intervention. One can just leave the trader running and the tool will auto adjust in accordance to the forex market and keep trading based on the custom build strategies.

Tradingpatterns.com Review Including Automatic Pattern Search

APS is a software that uses historical data to search for patterns that fulfill user defined performace criteria.