Monthly Archives: October 2018

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3 of the Best Forex Trading Platforms

By Forex Trading Platforms, , , ,

There are a lot of Forex trading platforms to choose from.  MT4, MT5, Trade Interceptor, and the list goes on and on.  But, how do you choose from the massive list of Forex Trading Platforms?  Which platform is best for you?  Choosing a trading platform can be incredibly difficult and a tedious process.  There are many things to consider, platform functionality, charting types, indicators to choose from, which operating system that they work on, and the list goes on and on.  In this article we tackle 3 of the best trading platforms available for Forex traders.

MetaTrader 4 (MT4)

No top Forex trading platform list would be complete without MetaTrader 4.  This trading platform developed by Metaquotes software is the leading trading platform for Forex trading, with an estimated 80% of Forex traders using it.  Metatrader 4 provides advantages associated with mobile trading and web trading, among other useful trading tools.  Some of the benefits of the Forex trading platform MetaTrader 4 include:

  • The use of technical indicators along with interactive charts for financial analysis.
  • An advanced backtesting software package that allows traders to back test their automated trading strategies.
  • Highly customize-able charting and platform layout options.  Traders can save their profile and templates, which allows them to move their chart setups from one computer to the next.

MetaTrader 5 (MT5)

metatrader 5 devices 300x98 - 3 of the Best Forex Trading Platforms

The MetaTrader 5 platform was designed for multi-asset trading in 2010 by the same company that developed the MetaTrader 4 platform.  While it is unlikely that you will find a broker that does not offer the MT4 platform, the same cannot be said for MT5.  While it has gained in popularity in recent years the Forex trading platform MT5 has not had the same success as its brother MT4.  At this stage there is probably only a couple dozen brokers that offer MT5, where as there are close to 4000 brokers that offer MT4.  But, that does not mean this platform does not have it’s own benefits and advantages over other trading platforms.

Even though MT5 has a similar look and feel to MT4, MetaTrader 5 was designed to accomplish a certain task that MT4 was unable to support.  In other words, MT5 was designed for a different market all together. MT5 allows traders to trade real on-exchange products such as Futures and Stocks.  Even though the computer programming language is different from MT4, it still has a very easy to use programming language that allows traders to code their own automated strategies and indicators.

So, for traders who are looking to trade multiple assets from one trading platform, MT5 is an excellent option.

Trade Interceptor


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Trade Interceptor was initially designed as a mobile trading app with advanced charting and technical analysis features.  From there it expanded into a web trading application in addition to its mobile trading application.  Recently, in 2016 a Forex broker, ThinkMarkets, purchased TradeInterceptor and has revitalized the platform to become one of the more popular ones for Forex trading.  The platform has the ability to provide analysis of evolving trading patterns and opportunities with its advanced AI functionality.  Some of the other key benefits include:

  • Up to 200 notifications that are cloud based.
  • 14 different chart types, 50+ technical analysis drawing tools and over 80 custom indicators pre-installed.
  • Split chart screen on the mobile application, which to our knowledge is the only mobile app that currently offers this.

So, when choosing a Forex trading platform you should remember these 3 top Forex platforms.  But, most importantly it is important to choose a platform that you are comfortable with.  Comfort is King.  You want to make sure that you know exactly how the platform functions, because trading is a fast paced game. You do not want to be trying to figure out how to buy or sell in the market, or exit a trade in a fast moving market.

 

 

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2 Reasons Why You Should Check Out Forestpark FX

By Forestpark FX, Forex Trading Platforms

When trading in the Forex, it is important to select a broker. Brokers can help you through your trading process. Firstly, they possess the knowledge and guidance that can help educate you in trading and what you are supposed to do. Second, they also have access to software that allows for trades to take place.

Brokers do get a fee, but the benefits that you get are worth it, especially for those who are new to the trading game.

While there are a great number of brokers out there, the Forex Consult team would like to introduce a company that will help you with your endeavors. It is called Forestpark FX. They are a Forex Introducing Broker that focus mainly on helping Forex and CFD traders find brokerage solutions for trading.

Let’s check out three reasons why you should consider Forestpark FX.

Global Reach and Influence

The first thing that you have to know about Forestpark FX is the fact that their reach is global. Throughout the whole world, they have a group of companies in each region. These regions include Asia and the Pacific, Europe, Canada, the United States, and Latin America, and Africa.

This ensures that wherever you are in the globe, Forestpark FX can help you with your trading needs. It also speaks to the wealth of experience and information that this company has. The amount of insights and brokers that they can share with you will definitely help you out.

Various Features

Depending on the region that you select, the list of services and features available to you are quite different. Let’s take a look at some of these features.

For one, they have a wide number of brokers that you can choose from. They will also help guide you to choose the right broker for you. Apart from that, they also offer a cashback rebate that will help you out by decreasing the cost of your trading.

They also have a team of coders that you can utilize. Right now, you are probably wondering how coders can help. These experienced programmers can help bring any ideas or algorithms you may have into reality.

These are only a few reasons why you should consider ForestPark FX. We do hope you find the right company that will introduce you to the broker that will change your lives for the better.

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2 Tips to Get Started in Trading

By Trading

Trading is a tricky business. There are a lot of people who find success doing it though. This is probably why so many people join it. While people can start trading, only a few can really do it successfully.

Not to worry though, the Forex Consult team has your back. We’ll offer you a few tips that you can utilize in order to gain success in the world of trading.

Find a Forex Introducing Broker

For beginners who can’t make heads or tails about the trading business, your first order of business should be to find a broker. However, if you don’t know what a broker is, does, or why you need it, this may present a problem as well.

A broker is a company or group that helps you do trades. They are a group of people who offer their knowledge and insights on trading for you. They facilitate the trade with their software, and also advise you on when to buy and sell.

Thus, the best you can do is to find a good Forex introducing broker. These companies are not brokers in themselves, since they do not facilitate any trading on their end. Instead, they help people find the best brokers possible.

Make Peace with Small Losses

The second tip we have for you is to be alright when you have small losses. Once you have started trading, it is inevitable that you will lose. In all honesty, placing money into a trading account is already sort of losing.

Ensure that the money you will trade with is not needed for essential expenses. Once you do trade and lose, if you lose only a little amount, it is a victory.

This doesn’t mean that losing a little each time is a good thing. Minimized losses is still one of the best things to aim for.

These are only a few tips you can use when you start Forex trading.We hope that you are successful with your trading.

Forex Facts

From Visually.