Forex Trading Software for PC: Best 9 of 2024
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Key notes
- If you're on a mission to conquer the Forex markets, you need a solid strategy.
- Team up with these best-in-class Forex trading software tools to boost your earnings.
- Get analysis on trading patterns, automate trading strategies, copy deals, and more.
There are hundreds of Forex brokers offering their services online so choosing the best one can become quite a challenging task. It can be as difficult as creating a successful strategy.
Usually, the average trader is unlikely to have enough time to check out all of the features that are packed in Forex platform packages offered by brokers.
That’s why we have gathered 8 of the best Forex trading software so your choice will be much easier. These are some of the market’s most legit and reputable brokers.
The Forex trading software we present below is not only proven to generate great results, but they are also compliant with and regulated by international authorities for each country or area they are available.
What is Forex trading and how does it work
Forex is short for the foreign exchange market and it represents the global market for trading international currencies. It is highly dependent on foreign exchange rates.
Those who buy, sell or exchange currencies generally use the current prices. However, based on how stable a currency is, some prefer setting fixed prices to avoid loss.
Forex is one of the most popular trading practices. The market is very much dependent on banks and there are many factors that affect exchange rates.
To achieve significant profits with Forex trading, you will have to set up a strategy. If you are a beginner, it is recommended to do your research and see how much you want to invest for each trade and also how much you want to risk.
Forex trading platforms can be great tools both for beginners and experienced traders. They offer automation solutions that help you set up your own algorithm and also copy successful strategies from other traders.
Is Forex trading good for beginners?
Beginners can make a good profit from Forex trading if they follow a few basic principles such as selling the currencies at a higher price than they bought them.
Of course, you have to be knowledgeable about the market in order to do so successfully, but there are plenty of educational resources online that can help you get started.
The good thing about Forex trading is that you do not need to invest a huge amount of money from the very beginning. As long as you implement a good and constant strategy, you can start with as low as just a few hundred dollars (or your currency of choice).
Which tool is best for Forex trading?
eToro
Featuring a unique combo of easy-to-use, intuitive interface, and innovative trading features, eToro is the world’s leading social trading app with millions of users from over 140 countries.
This tool delivers 2000+ financial instruments such as stocks, and crypto, and is more suited for novices and experienced Forex and CFD traders alike, and ready-made copy portfolios, all while taking good care of your privacy.
Given their speculative nature (plus leverage), CFD instruments are labeled as high-risk investments. So are the unregulated cryptocurrencies.
eToro USA LLC does not offer CFDs, only real Cryptocurrencies are available for US users. However, eToro offers real-time market analysis for Forex trades that show information about good trading pairings, buying and selling prices of all currencies, and more.
The platform also offers valuable learning materials that help you understand how to implement a strategy and even how you can combine multiple types of strategies in order to achieve your goals.
Let’s quickly look at its key features:
- Intuitive, user-friendly platforms adapted for all skill levels
- Best-in-class security protocols and strong data protection
- $100,000 virtual portfolio to practice your strategy
- CopyTrader technology for an easy start
- Charts and advanced analysis tools
- Seamless integration with the eToro wallet
eToro also offers forward testing features that let you build up and implement fictional strategies. It then creates an in-depth analysis of your results so you can see what you need to improve.
eToro
Into Forex and CFDs trade? eToro is the safest choice among all the licensed brokers out there.Disclaimer: 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
ZuluTrade
ZuluTrade is a simple and versatile tool that grants you access to exclusive access trading services in just a few steps.
The best part is that it comes packed with Forex tools such as a currency converter, margin calculator, and profit/loss calculator to get your Forex transactions boosted in no time.
Free of charge for up to one month, you can use this flexible tool at any level and scale it to suit your specific needs from basic to advanced.
It is a great choice to start trading Forex as it includes currency converters, a pip value calculator, a margin calculator, and in-depth profit/loss reports.
The Automator feature notifies you when it is a good time to act on your trades. It can also automatically execute actions based on pre-defined rules and settings.
Let’s quickly look at its key features:
- Copy-trading feature to get you started
- Automatic fully managed portfolio rebalancing with immediate initialization
- Risk-free for up to one month
- Social Charts to share your comments, exchange views with other traders and explore trends visually
- Calendar to schedule your important economic events.
Zulu Trade also has an insightful Forex Calendar that analyzes current events that are very likely to impact the global market.
Zulu Trade
Everything you need for simple, and efficient Forex trading in a single app!TradingView
TradingView is a social/trader network where anyone is allowed to publish a trade idea. It is the ideal trading software for PC and accessible even on mobile phones.
This advanced financial visualization platform comes with over a hundred pre-built studies for in-depth market analysis, covering the most popular trading concepts and indicators.
This impressive data coverage guarantees your direct access to major indices, Forex, Bitcoin, and CFDs among other instruments allowing you to carefully plan your trading strategy.
Users are allowed to draw anything on any chart. TradingView pen allows you to draw freely any line or shape.
You can effectively split your screen into many synced-up charts. It makes looking at the time frames much easier by enabling you to view multiple charts on the same screen.
Let’s quickly look at its key features:
- Real time curency rates reports
- Forex screener
- Useful predictions
- Technical analysis for your strategy
- Interactive community with livestreams from experienced traders
- Accountability by sharing or publishing your trade ideas
Trading View has three different subscription plans. Each plan includes a 30-day free trial.
TradingView
Get a true taste of customization with tools that scale from simple to complex to perfectly fit your Forex trading needs.Forex.com
Forex.com is a resourceful trading platform that offers users insightful market analysis tools as well as the possibility to fully customize their strategies.
This Forex platform activates in over 1000 markets offering tons of features for any type of trader, with over 500k users worldwide.
The tool is very versatile, as it offers dedicated applications for mobile, as well as the possibility to trade directly from your web browser.
As long as you enter your credentials, you can trade on pretty much any device, with just one account.
Forex.com lets you trade in over 80 FX pairs from the global market. It also offers support for trades between several cryptocurrencies.
The platform offers valuable performance analytics tools that assess your trading behavior. You get reviews on the timings of your trades, how your short and long trades perform, and an in-depth scorecard of overall performance.
Forex uses real-time information about the market as well as a solid knowledge base about the best trading practices to advise and inform you how you can improve your trading behavior.
The platform also encompasses tons of worthwhile market analysis information as well as the latest news and trends about forex, commodities, crypto, shares, and indices.
Other key features of Forex.com include:
- Support for trading commodities
- Variable and fixed spreds
- Set user defined price tolerance
- One-click trading
- Price alerts
- Adanced charting
- Commssion charges on stocks only
- Instant or market trade execution
Forex.com offers the possibility to test out the platform before actually investing. You can create a Demo account and see for yourself what it has to offer.
⇒ Get Forex.com
eSignal
This is a platform that provides you with everything you need, all in one place. eSignal’s award-winning trading products and services offer something for each and every trading levels.
This platform delivers real-time streaming stock, futures, Forex, options quotes, and analysis on the world’s stock markets that are delivered to PCs, laptops, and mobile devices as well.
eSignal’s user interface is built to let user quickly analyze the markets, as it offers quick insights right from the homepage.
The platform comes with customizable charts so you can pick the most important indicators for your goals and get personalized information.
The backtesting and scannning tools allow you to scale the effectiveness of your trading strategies before putting your money in the game.
Let’s quickly look at its key features:
- The platform works at the highest possible speeds
- eSignal provides you market data from 100 global markets
- You can watch trends on the platform
- eSignal also allows you to set your strategy and execute your best trades
eSignal has three main subscription plans, each with a 30-day money-back guarantee.
MetaTrader 4
There are millions of traders worldwide who have already chosen MetaTrader to work in the financial markets anywhere and anytime.
MetaTrader 4 for PC is the most powerful and convenient tool targeted at technical analytics and trading in the market allowing you to implement all kinds of strategies on any level of complexity.
You will have more tools at your disposal such as Instant Execution, trading from a chart, stop orders and trailing stop, trading history, and a tick chart as well.
Meta Trader 4 provides a robust trading system with support for three execution mdes and eight order types.
The platform puts an unlimited number of charts and more than 50 analytical tools at your direct disposal.
It also uses trading signals that will let you copy deals from other traders.
Let’s quickly look at its key features:
- Algorithmic trading, expert advisors, and more
- Access to the MetaTrader Market where you can purchase indicators and trading robots
- The news and alert are helpful to inform you about the essential market events
Meta Trader is a free-to-use platform. Note that some costs may apply as your broker or market maker will place some charges on your trades.
ForexTrader Desktop
ForexTrader Desktop is one of the most advanced trading platforms out there, and it’s designed for active traders who are looking for increased speed, flexibility, and top performance.
ForexTrader Desktop lets you automate your trading strategies with access to 15 pre-defined automatic trading strategies for real-time buy and sell signals.
It also lets you customize your build using the Strategy Wizard within the platform.
With real-time information and headlines from Reuters Newswires and market commentary, Forex Trader allows you to stay on top of all markets.
Let’s quickly look at its key features:
- The advanced charting includes customizable technical indicators.
- The drawing tools will help you spot patterns and identify trading signals.
- You will get daily and weekly Forex research.
Note: The ForexTrader Desktop is only available to account holders, and that’s why you will be requested to create an account before beginning your trading journey with this platform.
Currenex
Currenex is a market-leading technology provider that offers high-performance technology to the FX community and also deep pools of liquidity for anonymous and disclosed trade execution.
It gives clients a unique service that comes with tailored access to uncovered and also undisclosed cash on just a single screen.
This is a premium source for FX liquidity in the market. Currenex’s real-time market data offers the best deals and bids, the size and depth of the market for increased insight.
Active traders are able to access cash on Currenex via the prime broker model that is used by lots of top brokers from various banks and institutions with excellent reputations.
The anonymous streaming method provides access to a marketplace of thousands of participants and liquidity sources.
The technology used by Currenex allows you to implement selective permissions and approvals across more locations and business units.
Let’s quickly look at its key features:
- Corporates will get broad liquidity and competitive pricing across a vast range of instruments
- Currenex offers access to your complete trade history and audit trail
- You will get an analysis of trading patterns and counterplay activity analysis as well
Active traders can choose between more security preferences from more connectivity options and messaging protocols.
ActTrader
ActTrader offers a full-featured workspace targeted at traders for a better executing of trades and managing their accounts.
This is a feature-rich desktop application that allows you to monitor the market and also engage in online trading.
An ActFX strategy analyzes one or more charts, and it will automatically open and close orders and positions as well.
It will display these on various charts. You can backtest a strategy on the historical data, and you can also send commands to the strategy even while it’s running.
Each of the windows will show you information and provide access to specific functions. For example, the Dealing Rates windows lets you view the streaming rates, with detailed info on the instruments in the Dealing Rates Table.
Let’s quickly look at its key features:
- You have convenient controls via FXVoyager Toolbar.
- You can create, test, and run automated trading strategies via ActFX.
- The software provides you an opportunity to make a smooth trade
- Place a Market order straight from the Dealing Rated window.
Price alerts will let you know when the rate on an instrument reached the predefined level.
How can I start Forex trading as a beginner?
Start by learning the basics about the market and setting up a strategy. Know how much you can invest and what is the realistic goal you can achieve with that amount.
Use a reliable trading platform to assist you with useful information and automation solutions. You can even implement some copy-trading tactics and use strategies tested by experienced users.
These are our 8 recommendations for the best Forex software for PC. We also suggest that you keep in mind a few factors before deciding which one is the best for you and our needs.
The Forex broker should be regulated and should also offer either a selection of account types or any kind of customizability.
You should also check for the variety of currency pairs on offer, the availability of customer service,, and the quality of the trading platform as well.
All the 8 platforms we presented above are straightforward, and they all offer vast collections of technical and analytical tools to enhance the trading experience.
Keep in mind that CFDs, crypto, and Forex trading are high-risk investments by nature. Make sure you keep the track of your expenses at all times with the Best Financial Investment Tracking Software.
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Let us know your favorite in the comments section below.
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