Automated Forex Trading Software - What and Why

For anyone looking to make money online, there are countless ways of doing it, one of which is forex trading. The tricky part for anyone new to online forex trading is often knowing exactly how to find the best automated forex trading software for online trading. Hopefully, this article will go some way to pointing forex software seekers in the right direction.

Not to be confused with the trading platform it actually works on (Metatrader4 being a common one), the trading software referred to here is the ‘forex expert advisor’ or trading robot.

If you are looking to get started in online forex trading, but have little or no experience in currency trading, it is essential that you find out what is the best automated forex trading software. The main reasons for this are:

* No need to learn currency trading before you start out (which saves you time and money!)

* No need to stare at your computer all day looking for favorable trading conditions

* Your money will be protected from emotional trades (the forex trader’s worst enemy)

* No constant market monitoring required, as the automated forex trading software does everything for you

* You can trade 24/5 without the need to take rest breaks

Putting the title of Best Automatic Forex Trading Software on a product is a subjective topic. The big question, therefore, is, what are we looking for in automated forex trading software? Taking each requirement in turn, we ideally want:

1. To get the software at a reasonable price

2. The software to be easy (or at the very least, straightforward) to set up and get running

3. To be confident of decent profits

4. To be guaranteed few losing trades

5. The software to be customisable

6. To get free trading software updates

7. To be able to purchase the software from a reliable vendor

8. High customer service levels from the program vendor

9. The opportunity to test the trading software for a period on a demo account

10. A no questions asked 100% money back guarantee

Many Automated forex trading software packages will have few to none of these benefits, so you could be falling into a trap without even realizing it. This list will, at least, give you a fighting chance of getting a decent system.

So, what is the best automated forex trading software? I have recently purchased two of the most popular forex trading software products on the market and put them to the test on a live account. I can honestly say I have been amazed by the results!