The (Foreign Exchange) Forex Trading Market Explained.


FOREX Trading Software

Which type of FOREX software meets your needs?

Almost every online FOREX broker has a software package for their clients to make transactions and get information about market prices.  Due to the relative maturity of online trading there is a consensus among FOREX brokers about what clients need in terms of software tools.  There are two main classes of FOREX software – web based and client based.

All FOREX software needs to provide up-to-the-second market information.  The fast moving pace of the FOREX demands real-time data delivery for making decisions about when to enter and exit the market.  FOREX dealers claim their software performs well with a minimum of delay, but in fact there can be a number of factors that could delay data transmission.

forex software and forex trading software

Internet connection speed and distance from the broker's servers are the two main factors that can slow down data transmission.  FOREX traders should have a reasonably modern computer and a high speed Internet connection to take full advantage of the FOREX software offered by their broker.  It may also pay to choose a broker in the same area as you live.  Traders in Bangkok who deal with brokers in Ohio may experience delays – especially during volatile market conditions.

Web Based or Client Based?

Web based software is on the broker's website – you don't have to install any software on your computer.  Client based software requires you to download and install the software package used by your broker.  Which is better?  More and more brokers are offering web based client software for reasons of convenience, safety and reliability.  Web based software allows you to log on to your account from any computer – you can make trades from any location that has an Internet connection.  Client based software, on the other hand, restricts you to making trades from just one computer.

Besides the convenience, web based software offers greater security.  Data is secured with high-strength encryption making it impossible for outside parties to access during transmission.  Client based software is also secured during transmission but there are more possibilities for data loss from the trader's computer.  Viruses and hackers may be able to access valuable financial data stored in a home or office computer.


FOREX software needs to access real-time quotes and offer a means to enter and exit the market.  Even the most basic packages offer these functions.  Current quotes can be seen for most currency pairs and the software allows you to buy or sell at market prices or enter and exit the market using stops or limits.  Ideally, trading software should have integrated charting functions with a variety of viewing functions.

Basic software packages should be offered free of charge, but many brokers also have more advanced packages available for a monthly fee.  Some of the features you could expect to see in advanced software include the ability to trade directly from the chart and full analytical functions.


The backbone of FOREX software is a series of data servers that allow you to connect to your broker's web site and make transactions.  Servers operated by the FOREX broker need to be reliable and secure for maintaining data integrity and assuring accurate transaction processing.  Servers are subject to power outages and natural disasters, so to ensure maximum uptime, the broker should operate at least two sets of servers in separate locations.  Brokers should also offer regular data backups to guarantee the integrity of their customer's financial data in case of server failure.



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Introduction to Online Forex Trading
Current Forex Currency Rates
Forex Trading
How to Get Started In FOREX Trading
FOREX versus Futures Market
FOREX versus Stocks
FOREX Trading Philosophy
Fundamental Analysis In Forex Trading
Forex Technical Analysis - Part 1
Forex Technical Analysis - Part 2
FOREX Trading Strategies
Trading Currencies on Margin
Currency Option Marketplace
FOREX Signals
How to Read FOREX Quotes
Calculating FOREX Profits and Losses
Risks of FOREX Trading
FOREX Training
FOREX Trading Software
FOREX Brokers
FOREX Glossary
Forex Updates and Training
Crash Course in Forex Education
How to Recognize Patterns in Forex Trading Markets
Defining Exotic Currencies and Their Impact on Forex Markets
Defining Trading Trend and Ranges in Forex Trading
Mind Games – The Psychology of Forex Market Trading
Crossing Currency - What’s This Mean to Forex Traders
Money Management Basics for Forex Traders
Choosing Your Forex Broker
Expensive Beginner Forex Trader Mistakes
The Elliott Wave Theory for Forex Markets
Failsafe Facts to Guarantee Failure in Forex Trading
Five No Nonsense Strategies in Forex Trading
Global Expansion and It’s Reaches within the Forex Market
Hedging in the Forex Market
The Important Ways to Keep From Losing in the Forex Markets
An Overview of the Euro’s Performance in the Forex Markets
Six Trading Tips for the Forex Newbie
The Lowdown on Day Trading
Interpreting How Interest Rates Drive the Foreign Exchange Markets
The Basics of the Bollinger Band Technical Indicator in Forex Markets
Relative Strength Analysis in Forex Trading
The Basics on Understanding Forex Options
Forex Charts – What Are They and How Do You Read Them
Interpreting the Future of the Oil Marketplace and How It Affects Forex Trading
Top Five Economic Indicators that Drive Forex Trading
Rules for Trading in Forex Markets
How Does the Japanese Yen Stack Up Against the US Dollar in Forex Markets
Pivot Points in Forex
The Ins and Outs of Trying Out a Forex Demo Account
The Top Currencies to Watch in the Forex Trading Game
Defining Moments Regarding Trading Trends and Ranges with Forex
Top Ten Basic Terms in Forex Trading and Their Definitions
Forex Folklore Investment Myths in the Market
Five Economic Driving Forces that Influence Forex Trading
Day Trading All You Wish You Did Not Have to Know
Time line for Daily Forex Trading When are the Optimum Moments
Forex Relative Strength Analysis
How Forex Quotes Can Influence your Trading Tactics
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