Forex Software Reviews - Easy Profits
Can you really make money trading world currency markets? Absolutely, but unless you're already an experienced trader, you'll need some help! There are two routes you can follow - learn to trade yourself, or use automated forex software like Forex Tracer to make the trades for you. Here is our opinion of some of the best systems.
Trading Foreign Currencies, or Forex, was once the domain of the large banks and financial institutions. However, in recent years it has become possible for independent investors, or Retail Traders, to sucessfully trade using automated forex trading software. These forex trading systems use online trading accounts, and work by following real-time foreign currency movements. They make automatic buy and sell decisions based on complex alogorithms which lock in profits, and minimise losses.
There are several of these software products available, so make sure you compare at least two or three before making a purchase. These products can make you a lot of money if used correctly, so you want to make sure that the one you buy suits you. If you're not comfortable with it, you may not realise its full potential. Use our review to make sure you make the right decision first time.
Forex Tracer
Released in 2008, Forex Tracer is one of the most up-to-date Automatic Forex Systems on the market, and this is reflected in the usability and feature-set. In addition, it takes into account the most recent market behavior. Among it's features is the all-new ExpertAdvisor(EA) for the MetaTrader4 trading platform, which allows seamless and automatic integration.
The Forex Tracer is designed to be entirely automatic, requiring no human intervention. To facilitate this, it included a sophisticated system of controls which lock in profits and limit losses. It is the ideal choice for someone who prefers to take a hands-off approach, and let the software do it's job of making profitable trades.
>>> Highly recommended! <<<
Forex Killer
Probably the most intriguing thing about Forex Killer is that it was developed in close association with veteran Forex trader Andreas Kirchberger, whom I met during my time working in the City of London. He has a vast wealth of experience working with Deutsche Bank, and has provided the core knowledge which has been harnessed by a leading mathematician into a powerful piece of software
It differs slightly from Forex Tracer in that it it tells you when to trade, and leaves you to do the actual trading yourself. This means that you have more control over when you buy and sell which currency pairs, but the downside is that you can't just plug it in and walk away - you have to be at your computer screen. However, the buy and sell signals it generated were similar to those I would have expected.
Forex Killer has recently announced a deal with a leading Forex brokerage, whereby each Forex Killer purchaser will get a bonus of $100 when they open a trading account - that's more than the current software price!
Forex Raptor
Forex Raptor is similar in concept to the Forex Tracer reviewed above. It claims to be fully automatic, and also uses the MT4 platform. You can run multiple trading systems simultaneously, which means you can effectively hedge your trades. In other words, if one trade makes a loss, you should have at least a couple of others which make a profit
The software is aimed at the total beginner, but is sophisticated enough for the more experienced trader to get good value from it. It claims you can make profits from day one, but in reality that's a little bit optimistic, as you have to find your way around the system first. Having some knowledge of forex trading terminology would be a definite advantage.
Unfortunately when we reviewed the software, there were a couple of bugs which have yet to be ironed out, and this detracted from the overall experience. There's every chance these may now be fixed, but bear it in mind before making a purchase - it may be safer to go with one of the other systems
