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Forex Software

Written by ForexCult Team
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Forex Software In this article, I would like to take the time to tell you about the different forex software that is available to you however before I do that I would like to cover some basics of forex as well so that you are not completely lost when it comes to the basics. As you may already know, forex software operates in what is known as real time just as online foreign exchange does. However, you should know that the currency exchange rates are always changing and they are changing on intervals of actual seconds. When you hear that the forex system is operating in real time, what that means is that the actual quotes are in the present time and there are accurate each and every specific moment of the trading day, you should also note that one second the quote can be one thing and then the next second it could be something different. One thing that you are going to especially need to know is that when the trader actually takes the time to lock in a specific rate, it is then that the trade is executed and the transaction is in turn sent through processing right away. Exchange Rates and Forex Software One thing that you are going to need to know is that at the times when you notice that the exchange rates are changing in a rapid manner you will see that the forex software that you are actually using should at those times be able to display the current currency exchange rates. When the forex software that you are using is able to do this what that means is that the forex software is steady communicating with the remote server so that it is able to display the currency exchange rates that are accurate for that specific time frame. You will also notice that the actual quotes will be quoted by the forex software that you are using so unlike the bank rates, these currency exchange rates are the actual tradable rates. As a trader you should be able to lock in as well as trade the currency at that rate that is being displayed which is also referred to as the freeze rate and that rate is known to be valid during the whole entire time that it is being displayed by the forex software. However, like I have said earlier, you should always remember that the exchange rates can change within the period of a second when they are active. Easy Forex the Forex Software In case you are new to forex trading, I would like to take the time to tell you about forex software that is known as Easy Forex which is mainly known for the robust forex software that trades in real time as well. In fact this particular forex software that is offered by Easy Forex is known to use software tools which are referred to as web services which give you the ability to constantly get the up to date information on currency exchange rates. If you take a look at this forex software through the trader’s perspective you will see that it is absolutely transparent because of the fact that you are able to keep an eye on the up to date quotes without having to worry about refreshing the page in which the information is located on. One thing that is very important for you to know is the actual process of processing a trade. When a trade is processed it is first executed and then the data that refers to that particular trade is securely passed through processing and sent to the data server where it is in turn listed. You don’t have to worry about whether or not the system is going to fall because of the fact that they have a back up system just in case there is a situation to rise. All of the trades are processed without a human handling one bit of the information everything takes place through computers and also happens in real time as well. Forex Software Overall When you think about forex software you may become weary because of the fact that there are so many types of forex software that is out there for you to use however, you should always take the time to make sure that you do the research that is required so that you are able to find the right forex software that is going to work with your individual trading personality. Your ability to trade and how successful you are as a trader is entirely up to you and the forex software that you choose to use as well.

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Which is the Best Forex Broker you have traded with?

Interview with Matthew Sheppard

Senior Forex Advisor at XForex

1. What is your name and position?

Hello, my name is Matthew Sheppard and I am a senior forex advisor at XForex.

2. What is your experience and professional background?

In the last 6 years I had filled several positions in financial institutions such as a stock broker, a foreign exchange desk manager, a financial consultant and in my recent role I serve as a senior Forex advisor for XForex which is an online forex company.

3. What type of clients you deal with?

We deal with clients on all levels from the beginning stages to the more advanced trading levels.

4. Does most of your business activity come from the online or offline world?

Because of our high presence on the web, most of our business comes from the online world.

5. Why should a trader pick XForex from all forex brokers?

Aside from all the benefits that XForex offer like commission-free trading, 24/7 online support, high leverage (200:1), XForex offers educational and learning trading experience that you won’t find anywhere else..

Our team of experts and financial trainers provide personal assistance and guide clients to financial success. We provide daily analysis and market reviews to our clients giving them a better understanding of the market and helping them trade profitably.

6. From your experience, what advice would you give a person who wants to enter the forex world?

My advice to the beginning trader entering the Forex world is as follows:
  • Learn the market and understand what you’re getting into.
  • Research and find the broker that suits your needs and wants. Look for a good offering but more importantly customer service, don’t go for the low rates offer without being certain they have a good customer service department. From my extensive experience in the Forex world your key to success will be your client-broker relationship. I can honestly say that at XForex they put an emphasis on servicing clients, which is so important.
  • Invest smartly and calculate your risks.
  • Always know when to get out of a trade.

Broker of the Month

5_small_logoUFXBank provide up-to-date charts and news feeds, coupled with an easily navigated trading platform. UFXBank traders can access the biggest market in the world 24 hours a day with ease.

By keeping their platform, site and deposit process simple, safe and secure, UFXBank have become the web’s premier online forex trader.