TYPES OF FOREX TRADING PLATFORM

Nowadays, forex traders can trade on different types of trading platform, which are downloadable and web-based (online) forex trading platforms, these platforms can further be classified according to their programming language, and also its trading model, there might be other types of trading platform used by forex brokers, but the main aim of this software is to provide access to the online currency quote, by opening an account, receiving login details, which the traders uses to login to his/her forex trading platform. Forex trading platforms can be a web-based (online) platforms, which are run on java and accessed by the trader, by typing the URL into the web browser, from where the login details are used to access the forex trading platform. This type of platform is more lighter and accessible from anywhere, without the trader carrying the computer, or hand-held device where a downloadable platform is stored.rnThe downloadable type of platform, are software which must be downloaded into the trading gadget. They come in form of executable files, which must be unpacked and compiled into the forex trading platform. These forex platforms, can further be classified according to the various programing language used in their design. Thus we have the following; Meta-trader, this is the most widely used form of trading platforms, available to forex traders and can be meta-trader 4 or 5, they are designed by meta-quotes inc. This software is so popular, that forex brokers, that never offered the mt4, are forced to do so. The easy use and user-friendliness of this platforms, have made them a trader's staple. Acttrader is a forex platform, produced by actforex ltd, it is a platform used by brokers like avaforex, the design and the process of placing order, is different from that of the mt4 or mt5. This platform, is available in both downloadable and web-based versions. Trade-station, this platform is developed by trade-station technologies inc, and runs a lua programing language. This platform is used by inter-bank forex, and capital market ltd, as part of their trading suites.rnCtrader, this is a platform manufactured by spotware systems ltd, this software, is an example of electronic communication network platform, providing access to direct market forex trading. This company (spotware systems ltd) specialize in making forex trading platforms, for 'ECN' traders. Calgo, is another platform produced by this company, that allows algorithmic trading on the ctrader platform.rnCurrenex is another type of trading platform that comes in two forms, the currenex viking platform, which is an 'ECN' platform and the currenex classic platform, which is a dealing desk platform, and operates under market maker conditions. The currenex viking is used by professional forex trader, and is more difficult to navigate while the currenex classic platform, has charts and tools that makes it easier to navigate, and is suited for beginners, and less experienced forex traders. Hence, forex platforms can further be classified according to the trading model, which the broker supplying the trading platform operates, which are dealing desk platform and non-dealing desk or direct market access/ECN platforms. rnThe dealing desk platforms are operated by market makers, this is a situation whereby trading platforms are connected to the broker dealing desk, and all prices must come from the dealing desk, and all trade order must pass through the dealing desk for execution. This puts platforms like meta-trader, currenex classic, tradestation and acttrader platforms under the dealing desk category.rnThe non-dealing desk (ndd) forex brokers use the ecn model. This is a direct access trading whereby prices, comes from several liquidity providers, and displayed on the platform, so that traders can make a choice on the pricing model, that suits their trading objectives. Examples are ctrader, calgo and currenex viking software, and all other level ll software by institutional forex traders.rnNow, you know the types of online trading platforms that are available, and which one you can use.