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Various Types of Forex Trading Platforms
posted Dec 26 '16 by adamsmiths
Various Types of Forex Trading Platforms

The foreign exchange market, commonly known as the forex or the FX market is the largest financial market in the whole world. In this market, people from all over the world can take part in online trading. In fact, this has become one of the most tempting ways to earn money. And, the best part of forex trading is that anyone can take part in this trading, be it a businessman or a student. Moreover, you don’t require having any degree as such, in order to trade in this highly liquid market. For the purpose of trading, you will require only a few things such as a trading account and a computer with an active internet connection. The forex trading platform acts as a go-between for the forex trader and the forex broker. As a trader, you will get real-time as well as historical data. Also, you will have the access to all types of orders that need to be available in order to trade forex efficiently. Different types of forex trading platforms are available; some of them are discussed below (Information credit https://www.easymarkets.com/ ):

Designed by MetaQuotes Inc., both MT4 platform and its MT5 successor are widely used. In fact, MT4 is considered as the most widely used trading platform. Moreover, this platform has become so much popular that brokers, who were not offering this platform at first, are now forced to offer this platform to their clients. And this is possible only because of its popularity. The main reason of its popularity is the user-friendliness of this platform.

This forex trading platform is produced by ActForex Ltd. brokers such as AvaFX use this forex trading platform. In the platform, the process of placing orders and also the layout is different from that of MT5 or MT4. In this platform, you can get both the downloadable and web-based versions.

CTrader forex trading platform offers the traders with direct market access for trading in the forex. This platform is an example of an Electronic Communications Network platform. It is manufactured by a company, named Spotware Systems Ltd. that specialises in making trading platforms for the ECN environment. There is another ECN platform that is made by this company. The name of that platform is cAlgo. With the help of this platform, you can do algorithmic trading on the cTrader platform.

On the basis of trading model, there are two types of platforms- Dealing Desk and Non-dealing desk.

Dealing desk platforms
It is the market makers that the dealing desk platforms are used by. This system links the broker’s dealing desk to the trading platform. Some examples of this platform are Trade Station, Currenex Classic, MetaTrader and ActTrader platforms under the dealing desk category.

Non-dealing desk/ ECN/ direct market access platforms
These types of brokers use the ECN model and are also called direct access trading. Some examples are cAlgo, cTrader, Currenex Viking software etc.

In order to trade in the forex market, know all the forex trading platforms in great detail. This way you can trade confidently.

I personally prefer to be flexible and use modern trading solutions
posted Nov 20 '18 by jeff_stock
I personally prefer to be flexible and use modern trading solutions from best forex brokers like RCPro.com. This trading firm provides an outstanding solution for trading on the go. It's MT4 platform in your smartphone - https://www.rcpro.com/en/trade-on-the-go-with-mt4 . With this app, you can watch prices' movements and make deals via your phone. Now you can be flexible and trade at the same time. I think it's brilliant solutions for busy forex traders!

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