Let's take a look at the top 3 reasons why one third of all traders are currently using currency trading software to trade better in this market whether you're newer or just don't have the time to devote to trading at the moment.
Currency trading software is used by one third of all forex traders either in part or completely to help them in their trading in the forex market.
1 - 24 hour trading. The Forex market is a global market which is made up of smaller international markets scattered about the glober. Each of these markets has their own unique start and stop times, meaning the greater Forex market is open 24 hours a day during the week. That's a great deal of time to have to be keeping track of one currency which your invested in's value against another. Using currency trading software, these programs keep constant watches over the market around the clock tirelessly looking for trading opportunities and investing and pulling out accordingly.
2 - Cheaper alternative. You can think of currency trading software like hiring a broker to do all of your trading work for you. The difference is that with a full time broker you're paying full time prices. This includes regular fees and commissions on any gains they earn for you. Currency trading software does the same job 24 hours a day as just mentioned but for a one time cost, typically ranging between $100 to $200. It doesn't take much math to figure why so many traders are going the automated route.
3 - Trading simplified. The very fact that currency trading software is fully automated means that you don't have to know a thing about or have the time to do anything in the currency exchange. This enables first time traders to make reliable gains as well as traders without the time to devote to analytics.
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