There are a number of different foreign exchange market software options on the market today. If you aren’t familiar with this technology, these are programs which claim to enact and end trades for you automatically in the forex market without your having to lift a finger. They carry out every aspect of forex trading on your behalf and while this technology was originally designed for professional forex traders, it has since been expanded upon so that is capable of covering the full 24 hour range of the market.
As you can imagine, with good foreign exchange market software in place you can make some modest gains from this market without having to have the experience or time to put towards it yourself. As such, there have been a number of new publishers throwing their hats into the software ring given the popularity of this technology in recent years since it went mainstream. I always had difficulty differentiating between the best and worst of these programs, so I put together this brief guide based on my years of experience in dealing with this technology so here are three things to look for to get yourself a best possible foreign exchange market software.
First, just like with any other purchase which you would make you’ll want to make sure the program you ultimately go with comes with a full money back guarantee in place on it. I’ve found this significantly decreases your chances of getting scammy or even an illegitimate program, but also enables you to test the program yourself for a limited time before fully committing to it. I like to let one of these programs trade free within the safe confines of a practice account which you can get and run from any online forex broker. Nothing is risked in this case other than your time.
Customer support says a lot about a publisher and the program which they are pushing, as well. Ideally a foreign exchange market software publisher will offer phone support but failing that they should at least offer quick e-mail response so you might consider shooting the publisher behind be automated forex software you are looking at a test e-mail and gauging their response time accordingly.
The major fundamental difference between how good a foreign exchange market software is lies in how exactly it trades. Some programs are more conservative whereas others are less discerning in the trades which they go after. I have always had the best experiences with the more conservative trading systems as they keep greater standards which a trend must meet before that program will invest any money accordingly. I especially recommend a more conservative trading program if you are looking to set and forget the program so particularly forex novices and those without the time to devote to analytics especially should look for a conservative automated forex software.