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Trading Tools; Copy Trading; Forex E-Course; Support@xtreamforex.com. Xtream Markets LTD. XtreamForex is a Brand Name of Xtream Markets LTD. We have carved a reputation as a leader of the revolution in online trading by providing a reliable, user-oriented trading environment built on the most advanced. Oct 30, 2020 Tools of the Trade. The tools of the trade for day traders and technical analysts consist of charting tools that generate signals to buy or sell, or which indicate trends or patterns in the market.
Forex tools are reviewed and analyzed. Find the most appropriate currency trading tools for your trading style
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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
| This is a comprehensive tracking tools which can be used to track a currency pair for Currency Conversion rates, Seasonal Trends, Monthly Returns (%), Monthly Average Rates Yearly Average Rates and much more. |
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
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
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
| It shows important economic events happening around the world and also predicts the impact of these events on the related currencies. |
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
| This tool shows the ratio of open long trades to open short trades and the ratio of number of open trades for each currency pair using a chart. |
Forex Trading Tools Pdf
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
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
| This tool graphically represents open orders in OANDA's books. It is helpful to understand client price expectations contributing to natural resistance and support levels. It supports all major currency pair. |
Review of VT Trader Forex Autopilot by CMS FX
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.
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
Forex Trading Tools Free Download
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.
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