If you Google forex tools, you’ll return tens of thousands of search results. There are so many out there and so many that do the same or similar things. So, how do you choose which to invest your time in? Here we pick the top seven names you can rely on to support you in your quest for profit in 2020:
Copy trading is growing in popularity and millions of people choose ZuluTrade to choose from over 10,000 traders to follow. Traders share their results via a performance trade and then other investors can choose to copy any strategy, tweak one to add their own rules or trade manually. Every time an investor copies a trader on the platform, that trader gets compensated. They even offer demo accounts so you can try copy trading risk free and see if it’s the strategy for you.
Forex.com is one of the most popular forex broker services in the US and in our opinion their mobile app is one of the most useful tools to use in 2020. As a market leader and part of GAIN Capital Holdings, Inc. a publicly traded company, it’s a name even the newest trader can trust, something that’s becoming ever more essential as more new traders fall into fraud schemes. In addition, the app offers full-featured trading and advanced risk management options, access to advanced TradingView charting & analysis tools, real-time trade & order alerts and integrated fund management.
Celestial TT Expert Adviser
An Expert Adviser is a kind of forex robot, a piece of software with inbuilt programmed rules that automatically make trade entry and exit decisions on the Meta Trader 4 platform for forex trading. The Expert Adviser works by utilising predetermined strategies or rules for making trade decisions. The rules are programmed on the Expert Adviser, which it uses to automatically enter and exit trades.
With implanted strategies, the EA is capable of making trade decisions in a way that humans cannot. It can thoroughly and effectively scan the market looking for opportunities with high levels of accuracy. For example, if you have a successful trading strategy that relies on indicators, candlestick patterns, or support and resistance, you can implant this strategy on the EA robot, and just sit back and allow the programme to do the hard work for you.
HotForex is making a name for itself due to its total commitment to outstanding customer service. It also offers a wide variety of trading tools and platforms to suit almost any device and operating system, with its app being one of the best and most convenient ways to trade out there. It offers trading tools and the latest news, updates, and financial analysis.
NinjaTrader’s award winning technology enables you to execute trades at lightning speed and they offer some of the lowest spreads in the industry, meaning you keep more of your hard, earned loot. You can completely personalise and customise your platform as NinjaTrader offers thousands of apps, add ins and integrations, meaning you’re not forced to jump between various different trading tools.
MetaTrader 4 has been a trading staple for a long while now and the company is slowly replacing this with its even better MetaTrader 5. MetaTrader is one of the most flexible trading platforms on the market, allowing you to use it on a wide variety of operating systems and devices. Additional services build out the offer further with the Signals service allowing you to copy trade, and the Market function offers a wide selection of Expert Advisors like the Celestial TT one mentioned above and technical indicators that you can add to enhance your trading skills.
thinkorswim is a mobile trading platform by TD Ameritrade, one of the biggest names in the business. thinkorswim offers a wide range of top quality trading tools and supports users further with really useful insights, education, and a dedicated trade desk. If you’re looking to take your trading to a more advanced level in 2020, this platform has all the tools you need to execute advanced techniques and strategies.Tags: tools