Hi,
I am about to start “playing” with the forex market and I am not sure which direction should I go regarding to trading platforms.
I saw some chart analysis done on this forum and looks like everyone is using the same software?
I have looked into e-Signal and looks good but is paid. What does the paid software gives you that the free can’t?
Thanks
most people here use MT4. Oanda gives free demos of MT4 that never expire, you can set your starting capital, and you can have like 10. Although they do have their downsides, like right now the MT4 server is down so it is killing me, but the Java apps still works, so its like having a kindergartener with crayons making my charts. paid chart software is better than mt4 but not worth it for you to just get started. I would suggest any broker giving you an MT4 demo account that doesn’t expire, if you can set the initial capital to what you would put in real life even better.
You can get a trading platform, charting package and data feed that suits you, and your particular tastes, without spending a penny. And you can get all the forex education you need without spending a penny. So, my first advice to you would be: Wait until you have a nice, big pile of forex profits, before you start spending money on sophisticated data feeds, fancy training courses, or even books.
Since you are just starting out, give yourself some time to test-drive at least three different trading platforms. I would suggest: FXCM’s Trading Station II, GFT’s DealBook, and an MT4 or MT5 platform from any large, reputable broker that appeals to you.
MT4 (and 5), if you didn’t know, is a proprietary trading platform created by a software developer, and licensed to dozens of brokers worldwide. So, you will see that platform touted by many different brokers. Some brokers make minor changes to the default specifications of the MT4 platform. But, for the most part, MT4 is the same product wherever you find it.
Most traders use MT4 (or 5); and many brokers, such as FXCM, who have developed their own proprietary platforms, have been forced by competitive pressure to also offer MT4.
Consider these, or other free trading platforms. And stay away from unnecessary expense, until you’re filthy rich.
It can also depend on who you end up using as a broker, sometimes you will have a choice of platforms but some brokers only offer a limited few or maybe even just one. I was using MT4 for a long time but I’ve changed brokers recently and now I’m using their own web interface (they don’t offer MT4). It’s not as customisable as MT4 but the execution is better and the broker offers better spreads than my old MT4 broker.
You knock my beloved Oanda, how dare thee!! It’s great, it’s fantastic, it’s the best, well actually no, but it does have good points, it’s great for trendlines, and the Fib is ok when you get used to it, the ease of execution for trading is second to none.
But yes, it has it’s primitive side, a few minor tweaks and it could be great, but with dual screen you can run MT4 and Oanda Java quite nicely side by site, so you get the best of both worlds, it just would be nice if yu could get the best of both worlds on one screen!
I think is the speed that I like the most in oanda’s platform even when is lacking a lot of features
My name is Akile Samuel,I am a new trad in the marketiva platfprm and any time I trad loss a lot. Please how can I get enlighten on how to buy and sell at the right time.
Thank You Clint, i was allways wondering which one of FXCM’s i should use 
Hi and welcome,
From my own experience with various platforms I have to recommend JForex platform(Dukascopy bank). From all the brokers I traded with, Dukascopy is by far the best and the platforms are very good also.
I would say around here MT4 is probably most common, but just remember, no matter the platform you can usually get a free demo account and use your favourite for charting and perhaps a brokers platform for just placing your live orders. The choice is really yours, but MT4 took off because of its expert advisors.
I’m making use of MT4. It provides its end users is to automate their investing with the use of expert advisors. Expert advisors can possibly be produced by the user themselves or even they are able to obtain EA’s produced as well as analyzed by recognized vendors.
Hey I am using x-Station 3. It provides live market linked news feed direct from Reuters and Dow Jones.
Same here, I think x-station 3 is the best platform I have ever seen. Everything perfectly integrated in one trading environment.
I trade with MahiFX.com . They offer pretty tight spreads because they act as their own market maker. If you’re into scalping it’ll save you a ton of money long-term.
MT4 and Ninja Trader.