As the name says, the Forex trading platform is a place
where you can sell and buy the forex. This can also be called the forex-trading
station. All forex trading financial companies, banks, traders and brokers
will provide their own trading hub. These currency trading or forex
trading hubs use sophisticated software's, which have, can perform various
kinds of analysis such as technical and fundamental analysis. They also
generate data, which is both numeric, and well as statistical base such as
graphs, pies, regression data etc.
In most cases the trading stations or the platforms have real time
streaming ticker line. This ticker line is being constantly updated and
gives the buy / sell currency rate of major currencies in pairs. Forex
dealers or traders also maintain fixed spreads on major currencies across
the world, which are constant irrespective of the changing financial
markets. Most of the trading stations will provide the following
Real time streaming of the major currencies in pairs.
Pricing which is competitive
Fixed spreads in 3-5 pips
Certainty of price for the currencies in buy and sell position
Another factor in the forex trade is that the more creditworthiness an
institution or a forex trader is, the better access they have to market
information and competitive pricing. This is then reflected also in the
trading sessions that the subscribers and the investors utilize. They
would have better access to interbank prices and therefore the cost of the
execution for the trade in currencies would be better. The currency trade
software's provide the following in most cases
Real time streaming currency pair rates. One can click the suitable boxes
provided to confirm the sale or the purchase of the desired currencies.
They allow the linkage to currency margin account, which means that you
can have more purchasing power with less of investment.
Immediate confirmation of the sale / purchase of the currencies. Of course
the cost would be debited to your account. This is done almost
simultaneously and in real time.
These currency trade software will also show you the real time profit /
losses that you have made in the currency transactions.
Investors must make sure that when they subscribe to these currency trade
software's, they read the terms and conditions as many trades may be
subject to regulations and the agreement that may be drawn between the
client and the websites / currency trade companies.
There are options provided whereby one can also limit or stop the open
orders. These can also be cancelled or modified at a later stage in these
forex trades. Reports on all forex and currency transactions can also be
generated. These reports can be in the form of monthly / weekly reports.
One can print these records or download them for later. There are many
combinations and permutations, which are possible. Depending upon forex
trading packages that each forex trader or financial company may provide,
the forex trading stations may differ in features provided.