Forex (foreign exchange) trading is a zero-sum game or even negative-sum game if consider the broker commissions and transaction costs. To gain from other people’s loss, foreign currency traders use forex software such as automated robot tools and online forex platforms to fight against their competitors. These forex programs can be run in Windows/Mac/Linux computers or mobile phones. They provide analysis and prediction of forex signals and charting, helping traders improve their forex strategies and make better transaction decisions.
Limitations of Free Forex Charting, Signals, and Analysis Software Platforms
A retail foreign currency trader can purchase commercial forex software such as ACM Forex Trading and OZ Forex, rent a web-based online forex system that costs hundreds of US dollars a month, or use a free forex platform provided by a software company and their affiliate forex brokers.
But most of the free programs are not totally free. For example, a customer could be asked to open a forex account with a supported broker before getting freeware. The broker and software provider will make money by sharing brokerage commissions and other transaction costs, and a customer could be charged for a set fee or a monthly cost if he doesn’t do enough transactions.
Best Free Online Forex Signal and Charting Analysis and Automatic Robot Software Comparison
There are three kinds of free forex software available for Free Download in Internet. They include:
* The first kind is free forex analysis and prediction system or automated robot tool with limitations. For example, LeverageFX TopGun Forex Trading Software is free for each customer who opens a $1000+ live trading account with one of their supported forex brokers. It provides a simple and easy-to-use forex day trading system for both “forex dummies” and advanced traders. With it forex traders can do forex charting and signal analysis in an easy way. LeverageFX also offers its FREE eSignal Data for each customer who trades more than one million US dollars equivalent foreign currencies a month – otherwise a customer would pay $100 a month. Customers can get free forex training and education from LeverageFX too.
* The second kind is free demo software helping people to learn forex trading. For example, Free Currency Trading Practice Account is free forex training and education software that provides live buy and sell prices, $50,000 practice money, and simulating transaction for forex training.
* The third kind is free trial forex software. They are not real freeware but can give users a chance to avoid the risk of buying the wrong forex programs.
Basic Tips for Free Forex Trading Tools and Systems Users
Free forex trading software provides an opportunity for forex traders to reduce their software costs. But a user should compare the transaction costs and the limitations of the free software before making any decision.
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