Trading with the help of software has become common nowadays. These software aid the traders by analyzing the market, and are programmed to make them buy or sell a currency when the programmed conditions are met.
The Forex, also known as the Foreign Exchange Market or FX, is an international market that is open 6 days a week, 24 hours a day, and caters to the currency trade between traders from across the world. FX came into being for the facilitation of international currency trade, and today, it has become a very prominent investment market.
Several full-time and part-time lenders participate in this market to speculate and invest on a regular basis. This wide scale participation by investors has motivated several experienced investors, brokers, and companies, to develop automated Forex trading software. These software have significantly influenced the profitability of investors in recent years.
There are a significant number of trading software that can be commanded and programmed as per buy and sell specifications. The software automatically buys and sells currency after the value of the possessed or targeted currency breaches a specific barrier. In some instances, the software can be commanded to only buy or sell one specified currency or a group of currencies.
These software do not act on their own accord, and have to be instructed. These instructions matter a lot and are largely based upon your analysis of the market. Some great strategies can also be implemented with the help of these software, such as scalping and arbitrage trading. In short, these software reduce the donkey work that is involved in trading, and makes you free to leave the computer and attend to other things.
There are three very popular automated currency exchange software programs.
- Fap Turbo is an interesting automated Forex trading software, that has been most widely used and tested for over 9 years. After the program has been clearly instructed, it can work easily and without interruption.
- The Forex Killer is also one of the widely used software for traders dealing in the EURO/USD market. Created by Andreas Kirchberger of Deutsche Bank, the Killer provides signals, alerts, places orders as per your commands, and executes various other tasks. This software is remarkable when it comes to Forex calculations and online trading.
- Forex Autopilot created by Marcus Leary, helps traders execute a number of tasks, such as trend projection and trade decision. Further, this software is also capable of providing trading advice.
It must be noted that irrespective of what software you use, it is necessary to keep a watch over its functions and exercise certain caution. Also, check if the software specifications match your requirements, before purchasing it.