Trading software represents a computer program that allows an investor to place orders on the stock, currency, or crypto market and manage the portfolio of assets. Over time, such software has become much more than that. It has been expanded with additional tools such as
- real-time charts of market price developments,
- technical analyzes,
- or even an economic calendar to stay informed and make good decisions.
Without trading software, it is impossible to place your money on the stock exchange online, perform advanced analysis of signals and performance, and open and close positions.
Each trading software has its specific use.
It seems normal and reasonable to use responsive and dynamic software when it comes to trading a financial product as volatile as currencies on a Forex market. That’s why an online trading platform based on MT4, MT5, or WeTrader is preferable. Information regarding the software a broker uses is listed in a broker review, among other trading process details.
On the other hand, if you plan to buy various shares of companies listed on the CAC 40 from your ordinary securities account (CTO), it is much more reassuring to use a stock market interface such as ProRealTime.
There are, of course, other developers who serve other specific needs admirably. For example, a cryptocurrency broker has different expectations. That’s why the choice of its structural software is essential since it must show versatility. The broker determines the limits of use and customization possibilities to provide a more or less optimized environment.
Trading software for automated tradings
For innovation enthusiasts, the FinTEch current has allowed the development of fantastic tools that revolutionize the practice of online trading. Therefore, software trading now allows automatic trading. That is to say that a trading robot, previously configured according to precise guidelines, follows an algorithm that will enable it to place orders independently and generate significant profits without any intervention. This algorithm is based on what is called Expert Advisors or EA. Artificial intelligence designed and focused on stock market trends over time and the most probable events.
cTrader, an alternative to MT4 and MT5
MetaTrader is not the only complete and powerful trading platform that allows you to intervene in the financial markets. But the cTrader trading platform is also particularly effective. Like MetaTrader, the cTrader trading platform comes with dozens of technical indicators by default. It allows one-click trade execution, and the working environment is customizable.
One of the advantages of cTrader is that it exists in a desktop version (downloadable software) and a web version (directly accessible from the browser internet).
TradingView – graphical and technical analysis software
TradingView is a fully online technical analysis platform. It is, therefore, a cloud charting platform. TradingView is easy to use and suitable for any trader profile: beginner or an experienced trader.
This platform is an excellent tool for fans of graphical and technical analysis. There you will find a variety of chart types, as well as a lot of custom indicators. The software also allows traders to create their own indicators using its own scripting language.
TradingView emerged in 2012 as a social trading platform. New and more experienced analysts can easily share their studies on the TradingView social network. This feature has contributed to the growing popularity of the platform. Indeed, TradingView has over 3 million monthly active users.
Thanks to its APIs, TradingView is today a provider of data and charting tools for many other online trading platforms. If you are looking for professional software to conduct your analyzes, TradingView is arguably the best choice.
In Conclusion
Every trading software comes with its perks, with MetTradr4 and 5 being at the forefront of the market. However, due to the increasing competition in the trading software market, you can be sure that reliability and seamless trading execution comes with each one of them. The choice of a software type depends on your needs, be it trading currencies, making analysis, or stock trading.
