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The Best Forex Trading Software For Making Extra Cash

The word forex means foreign exchange. There are many people who trade in this market and make profits from the trends of different currencies. In the past most traders used to hire online brokers to buy and sell currencies for them. Nowadays, it is different. They traders have to do the trading themselves. This involves analyzing the currency trends and making decisions on whether to sell or buy depending on the change in prices and other pointers. This is tricky and requires a keen eye and a lot of knowledge about the foreign exchange market. However, with the best forex trading software, one can trade easily.

Forex trading programs are also known as robots. They are automated systems that use specific exchange strategies to identify points where to enter or get out of a trade. There are many of them and are all advertised as the best. Yet, some are scams that end up swindling their clients. It is due to this reason that you need to know finest robots in the industry.

FAP Turbo is a good example. It has features that enable one to use either short or long term plans. It trades various pairs of currencies and is one of the best, with a success rate of 96%. Cases of lost trades are very few. This bot is ideal for experienced traders, who would like to experiment with different tactics. For rookies, it is better to try out the fully automated systems.

One of the best fully automated robots is Ivy Bot. It is very successful with a rating of 94%. With it, you can only trade four currency pairs. There are settings you can change in order to get top results, though it takes some training to know how to tweak them.

Normally, the manufacturers do the changes for you. You also get weekly updates that help improve your performance. So, all the technical work is already handled. This makes the software ideal for novice traders.

Another fully automated system is the Forex Megadroid. It works by first taking market conditions into consideration and then makes the trades afterwards. This is a unique method that sets it apart from the others that use programmed indicators to trade. Its success is currently rated at 96% after recent research this year. It is one of the best forex trading software that you can use to trade in the foreign exchange market.