Forex trading involves the buying and selling of currencies in the global financial market. Trading is done through computer software that is known as a forex trading platform.
This software is offered by forex brokers to their clients. With the help of these platforms, investors can trade currencies from the brokerage company's computer or their home computer.
Online trading in South Africa provides various features such as:
• Show updated bid and ask rates on your computer screen
• Provide all technical information and analysis.
• Provide historical price fluctuations of each forex currency with the help of charts, bars, and lines
When you open an account with a forex brokerage, they give you a username and password. After downloading the software to your home computer, you can log in with your username and password and trade forex. MetaTrader 4, Forex Funnels, Turbo, and Forex Tracer are the four most used platforms on the market today.
MetaTrader 4
It provides technical analysis, offers 29 languages, covers a wide range of financial markets, and this software generates over 90% of the forex trading volume in the global financial market.
Currency funnels:
This is the latest platform that is gaining popularity with each passing day. It works with Metatrader. It allows users to set minimum and maximum limits for buying and selling currencies.
Forex web and mobile trader
Forex Web Trader and Mobile Trader are two of the latest forex trading apps that allow users to trade forex from mobile phones, smartphones, and iPhones.