Forex platforms are programs that allow us to operate in the foreign exchange market, that is, they allow us to receive information and place various types of orders. The fundamental information that allows us to receive is the price of the various crosses of currency and its evolution over time. But we can also provide other information, such as:
forex market news
technical and fundamental opinion and analysis
opinions from other investors
With respect to the orders, the simplest order is the purchase or sale at market price, but in addition, a forex platform, can allow us to place other types of orders.
buy and sell at market price
buy and sell at a certain price
In addition, forex platforms usually allow us to perform technical analysis through the possibility of graphing indicators, drawing figures and adding personal notes. The most advanced platforms allow us to create our own indicators, perform backtesting and develop automatic trading systems. There are also forex platforms that offer the possibility of subscribing to a ticketing service.
While many forex brokers offer a platform that allows us to trade only with them (proprietary platforms), there are platforms that are useful to operate with several brokers, such as Metatrader.
With respect to the software, some platforms are based on interntet, use java or flash, so we only need a browser (like Firefox or Internet Explorer) to operate through them, while other platforms require a program that is browser independent. The former are generally proprietary platforms, and have the advantage that they can be used from different computers without the need to install the platform in each one of them. The platforms that are installed in our operating system, can be proprietary or not. The latter generally offer more customization options and higher speed for technical analysis. You can say that platforms that operate in a browser are generally designed for novice traders, while more advanced traders usually prefer the platforms that are installed in the operating system and generally offer more options.
Many brokers offer several versions of their platform, for example an installable in the operating system that is the one that will provide us with the most comfort, one that can be used in the browsers of other computers, and another that can be used from a mobile phone at times in That we do not have access to a PC.