The best forex trading software allows you to trade automatically and without emotion, taking a calculated risk based on a pre-determined strategy. It does not guarantee results, as it still requires the trader to understand and apply its rules correctly.
What is the best technology for forex trading?
Some traders dream of having an intelligent trading partner, not exposed to emotions, logical and always looking for profitable trades and executing them instantly. Those dreams can become reality with the help of the most popular and best forex trading software programs, also known as robots.
Among the most popular are MT4 and MT5. They allow you to access a wide range of markets (thousands of them, with Admirals!) and provide advanced charting functionality and the ability to create automated trading strategies called Expert Advisors. Traders can code their own EA, or download a free one from the official website of their broker.
Another popular choice is NinjaTrader, which is offered by many brokers and includes a suite of tools for technical analysis. It is particularly suitable for those new to trading, as it offers a free simulator until you are ready to invest real money and features market replay capabilities so that you can test your strategies against historical data.
A third option is Zen Trading, which essentially gives you ready-made Expert Advisors. It does the work for you and provides a number of different strategies that have been developed by a quantitative algorithmic fund that has demonstrated successful trading.