If you plan to
start trading FOREX online you will of course be using a application system.
This system will to allow you to get details quickly about industry prices and
create trades. There are two types of FOREX application available, customer
centered and web centered.
As the FOREX
industry is a fast moving industry and you will need up to the minute details
to create informed dealings, it is up to you to see you have a online
relationship. Dial up online relationship will absolutely not work for this.
Another concern could be the location of the hosts used by your broker. If your
broker's hosts are located quite a distance from you, say in another country,
this could potentially slow down your signals. If you plan to trade online you
will need a modern pc and online relationship.
The next concern
would be which type of application, customer centered or web based? Web
centered application is located on your agents website. You will not have to install
any application on your own pc. An online program will allow you to log in from
any pc that has an online relationship. A customer centered program, or one
that you download into your own pc will limit you to dealings only on the pc it
is downloaded on. Web centered programs are preferred by most agents who think
they are more secure and reliable. Web centered application tends to be less
vulnerable to attack from viruses and hackers during signals than customer
centered application.
Any FOREX application
should offer you real-time quotes and offer means to quickly go in and out the
trade. These are minimal requirements of any forex trading platforms. Upgraded
application program is usually offered at an extra monthly fee by agents.
Generally agents will
have customer details located on two severs kept in two different locations.
This is to guarantee customer details is kept as secure as possible. If there
is a power failing or a problem with one hosting server the details is sent
back and forth from the second secure hosting server and you will not notice an
interruption. Regular back ups of these hosts is another way that agents keep
financial details secure in case of hosting server failing.
