Some people prefer trading on a web site, while others download a desktop software for making their trades. Each option has advantages and disadvantages. I think the web will take over online forex.
Calling the dealer to make a trade is something that still exists, but people rarely use it. Getting on the phone with the dealer takes more time than making the trade via the computer. It’s also prone to errors. Traders do it only when they have no other choice.
Online forex is growing, and most trades are done electronically. We’re connected to the Internet almost everywhere. We can see the graphs, account positions and everything via the web.
And here comes the question. What is better: a website or a desktop software?
Traditionally, the answer would be a desktop software. They are usually faster and they also allow richer features. Web sites usually respond more slowly, and used to be limited.
Since forex trading can be done all the time, the web has another advantage: it’s available everywhere and doesn’t require any installation. Some work places don’t allow installing certain software. Others block the ports which are used by the desktop software to access the data on the brokers’ sites.
For forex brokers, a web platform is more convenient as well: they don’t need to ask their clients to install new versions – they just update the website.
So, with richer Internet sites, and with forex trading growing, I’m expecting that more and more forex traders will move to the web.