No matter your choice of currency pair or cryptocurrency exchanges or financial markets to trade in, there is a multitude of apps to help. They provide access to advanced trading tools, analysis charts and news from professional sources – not forgetting personal news as well!
Demo accounts provide an ideal environment to try stock and forex trading without incurring risks, helping novice traders learn how to trade like pros while earning virtual currency that you can invest in real assets.
MetaTrader 4
MetaTrader 4 (MT4) is an advanced trading platform used by traders and brokerages alike. Available for desktop PCs running Windows, Apple OS or Android mobile devices and traders can open demo accounts to practice strategies without risking their own funds.
The program is straightforward to use and doesn’t feature too many unnecessary panels or buttons. With MQL4, users can create custom indicators, advisors and scripts. In addition, there are three order execution modes and 30 built-in technical indicators included with it.
Users can track the profits from open trades in the ‘Trade’ tab of the Terminal window (CTRL+T). By default, profits are displayed in terms of deposit currency; however they can also be displayed as points (10 points = one pip for fractional pricing). Furthermore, this program features alerts which help traders keep an eye on market activity; traders can set alarms when prices reach or drop below certain thresholds.
FXStreet News
FXStreet News is a market analysis service covering the forex industry. Updated 24 hours a day and offering various forms of news updates such as information on upcoming economic events or expert opinions regarding major currencies; as well as daily forecasts.
DXtrade provides DXStreet news feature free of charge. It delivers up to 250 pieces of FX/CFD/cryptocurrency news daily as well as economic updates covering cryptocurrencies, equity indices, commodities, fixed income macroeconomics politics technical analysis technical analysis technical analysis and more – customizable and available as both an independent widget or integrated directly within your trading platform.
FXStreet app offers all of the same filtering options found on its website, such as country and impact filters. In addition, quick buttons allow users to quickly navigate directly to Today, Tomorrow, This Week, This Month or previous Month events as quickly as possible. Default calendar displays your local time or GMT setting while additional settings may be adjusted as necessary.
Bloomberg
Bloomberg provides market participants with an arsenal of tools for analyzing, monitoring, and trading the markets. It is widely utilized within investment and banking world, and many colleges and universities provide courses on it as a popular option among central banks and government departments.
FXGO, the multi-dealer platform offered by this company, allows firms to negotiate foreign exchange transactions with their bank relationships more efficiently. It enables clients to request real time prices from preferred banks while fully integrating trade data into back office systems and supporting netting, staging and pre-trade allocations to maximize trading and risk management efficiency.
Sion notes that there are numerous opportunities for learning at Bloomberg and is especially appreciative that their staff takes them seriously and invests in them, something he was impressed by when he graduated and joined their firm.
eToro
eToro is one of the world’s premier trading platforms. Offering an expansive selection of assets to trade and a unique social trading feature that allows users to copy trades of other traders, it provides deposit/withdrawal options such as wire transfers and credit cards and has an intuitive platform with leading analyst insights compiled all in one convenient location. Furthermore, they offer a $100,000 virtual portfolio as well as one set of fees across assets traded.
eToro’s standout feature is its CopyTrader program, which allows users to follow prominent traders’ portfolios and copy them onto their account. This can be particularly helpful for newer investors seeking guidance from more established peers. eToro also features a community similar to LinkedIn where members can make blog posts and interact with one another; various order types including stop loss and take profit can help traders manage risk while safeguarding profits.
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