In the previous post, Forex Software Systems – 5 Top Factors, I wrote about the most important things to take into consideration when choosing a Forex provider.
These aren’t the only things that are important with Forex platforms. Here are a few more:
- Low Spreads: Different Forex Platforms give different spreads on the currencies. Naturally, lower spreads are better – less costs. This is especially important for day traders and forex swing trading, where every pips matters.
- Consistent Spreads: As a compementary factor to the previous one, it’s important that in times of big moves in the market, the spreads don’t go wild as well. Some providers suddenly change the spreads in times of fluctuations. Serious providers keep them stable, as they had promised.
- No Overnight Position Fees: Some Forex Software providers charge a fee for carrying a position over more than one day. Although this fee can be well explained by the providers, others don’t charge it. So, why pay more?
- Reliable Help Desk: Even if your Forex Software System is perfect, you’ll still want someone to be available to you, just in case. It’s important that a Forex provider will have a reliable and available help desk and trade room staff that can answer your questions.
- Forex Signals: Although relying on Forex Signals is controversial, having those signals available in your Forex software gives a serious added value to the system.
Additional factors to consider are most welcome.