New traders must choose a broker who has the right type of Forex trading platform to suit their needs and it can be a bit overwhelming when there are so many to choose from.
To make this task a little easier, new traders can start with finding a broker who uses the most common platform for Forex trading which is called MetaTrader 4. This system is easy to use and has very good charting capability and analysis tools. These include Stochastic analysis and moving averages. MetaTrader 4 is unusual in that it allows users to create custom indicators as well as the standard ones.
MetaTrader 4 also includes automated scripts to open and close positions automatically once the user has selected what variables they wish to use. These expert adviser scripts require very little input once they have been set up.
Those traders who do not use MetaTrader 4 will have designed their own bespoke trading platform and there are a number of alternatives around. You may find some of these more user-friendly than the industry standard, or you may find that you prefer the layout or the range of tools on offer. The only way to identify which trading platform is right for you is to have a list of essential criteria before you start and then try out a range of different ones to see which system you prefer.