OK, you’ve decided that you want to trade on the Forex currency market. You’ve decided that you need a system to help you navigate your way through things and help you to make a profit. But how do you make sure that you choose the best Forex currency trading system for your needs?
Sure, you could rely on the sales pitch on the sites of the various software vendors. But you really need to do some more research. This is a big decision and choosing the wrong system could affect the profits you make from your currency dealings.
The sales site will give you a features list. That’s a good start. Check through the features and see whether there’s anything missing. Check them against the features shown on other sites – that’s when you will start to notice subtle differences in the various system offerings.
Next, see if you can get access to a demo version of the systems you are interested in. Some of the sites will ask for your email and other details before they will let you have access to a demonstration. That’s OK – there is legislation to protect you from being bombarded by emails forever.
Make sure that you will be undisturbed when you take your demo or tour of the system. This needs your full concentration!
Go through all the different things on offer. Decide whether you like the layout of the screen as well as the depth of information available. Maybe the system has different modes so that as you get more proficient, you can turn on extra details and features that would only confuse you when you are just starting out.
Do this for each of the different systems that you are interested in.
Chances are, one system will stand out as being the one for you.
But don’t open your wallet yet!
Go back to your favorite search engine and check what other people have said about the system. You’re looking for negatives and positives. Ideally, you should be able to find reviews on some forum sites where you can go back over time. You may get a sense of how well supported the system is and how often it is updated. When there are bugs, how fast do they get fixed?
Once you’ve got all this information, you should be ready to take the plunge and start making cash on the Forex markets.