Forex Software

An increasing number of forex traders use some form of forex software to give them an edge in the market.  There are various types of forex software, from simple forex charting software packages, through to state of the art programs which not only spot the trading opportunities through a complex algorithm, but access your trading account, and place the trades for you.  A good example of such a program would be Zulu Trade.

By far the most popular form of automated forex system is the MetaTrader EA , or 'Expert Advisor'.  A MetaTrader EA is a forex software program which automatically takes trades on behalf of your trading account, within the preset conditions and parameters that you lay out when writing the EA.  many forex brokers support the MetaTrader broker platform, which enables your EA to place trades 24 hours a day, even while you are sleeping.

To complement your MetaTrader EA, an additional piece offorex software that traders frequently use is a MetaTrader hosting service.  This enables their EA to be run remotely on a VPS, which eliminates the risk of power outages or a failed internet connection causing you to miss a trade. Some examples of forex hosting services include Forex Hoster and Forex VPS .