Forex Charting Software

DEFINITION of 'Forex Charting Software'

An analytical, computer-based tool used to help currency traders with forex trading analysis by charting the price of various currency pairs along with various indicators. Forex charting software packages are used by many traders to determine the direction on any given currency pair.

BREAKING DOWN 'Forex Charting Software'

There is a wide range of forex charting software, which varies in appearance and functionality. However, users should look for several things in forex charting software that will help them to get the most out of their trading, including:

  • Is it free, or if there is a nominal charge? What additional features are made available?
  • What technical indicators are available?
  • Is the software Windows, Macintosh (Mac), or internet (Java or HTML) based?
  • Can you trade from the charts?
  • Is historical data made available through the software?
  • Is the graphical user interface (GUI) pleasing to look at?
  • Is the GUI conducive to monitoring a lot of information at once?


Most forex brokers allow traders to open a demo account prior to funding a full account or mini account. This allows users to try out each broker's charting software during a trial period.

RELATED TERMS
  1. Forex Forecasting Software

    An analytical tool used to help currency traders with forex trading ...
  2. Forex Charts

    A charting package that allows a trader to view historical currency ...
  3. Currency Trading Software

    Trading software to help the currency trader with forex trading ...
  4. Currency Trading Platform

    A type of trading software used to help currency traders with ...
  5. Forex Account

    The type of account a forex trader opens with a retail forex ...
  6. Forex Spot Rate

    The current exchange rate at which a currency pair can be bought ...
Related Articles
  1. Forex Education

    Forex Broker Guide: Introduction

    As of January 2012, foreign exchange market accounts for more than $4 trillion in average traded daily value, making it the largest financial market in the world. No central marketplace exists ...
  2. Forex Traders

    A foreign exchange or Forex trader, also referred to as a retail Forex trader, is a person that seeks to obtain profit through buying and selling various currencies on the foreign exchange market. ...
  3. Forex Education

    Working In Finance: 5 Forex Careers

    The forex markets can be both exciting and lucrative. Find out what jobs exist in this space and how to get them.
  4. Forex Education

    Forex Automation Software For Hands-Free Trading

    Automated forex trading software scans the market for favorable trades based on your input. Find out more about this valuable forex tool.
  5. Forex Education

    The Pros & Cons Of A Forex Trading Career

    Trading foreign currencies can be lucrative, but there are many risks. Investopedia explores the pros and cons of forex trading as a career choice.
  6. Forex

    Forex Vs. Stocks

    The differences between forex and the equities market
  7. Forex Education

    Forex Tutorial: Currency Trading Summary

    While this online forex tutorial only represents a fraction of all there is to know about forex trading, we hope that you've gained some insight into this topic. We also encourage those of you ...
  8. Forex Education

    10 Ways To Avoid Losing Money In Forex

    When approached as a business, forex trading can be profitable and rewarding. Find out what you need to do to avoid big losses as a beginner.
  9. Trading Systems & Software

    The Vital Importance of Choosing The Right Day Trading Software

    Software has made day trading quick and automatic--all the more reason to be as painstaking as possible when choosing the right one for your needs.
  10. Forex Education

    Forex Tutorial: Foreign Exchange Risk and Benefits

    In this section, we'll take a look at some of the benefits and risks associated with the forex market. We'll also discuss how it differs from the equity market in order to get a greater understanding ...
RELATED FAQS
  1. What should I look for when choosing a forex trading platform?

    A trading platform is a piece of software that acts as a conduit for information between a trader and a broker. A trading ... Read Answer >>
  2. What types of accounts are available for forex trading?

    There are many different types of forex accounts available to the retail forex trader. Demo accounts are offered by forex ... Read Answer >>
  3. What are the most common market indicators forex traders follow?

    Learn the most common technical indicators that forex traders and currency market analysts utilize to predict likely market ... Read Answer >>
  4. In the forex market, how is the closing price of a currency pair determined?

    The foreign exchange market, or forex, is the market in which the currencies of the world are traded by governments, banks, ... Read Answer >>
  5. How does portfolio management software work?

    Discover the functions of various complexity levels of portfolio management software, and learn how traders utilize portfolio ... Read Answer >>
  6. What is the best method of analysis for forex trading?

    Types Of Analysis Used In ForexForex analysis is used by the retail forex day trader to determine whether to buy or sell ... Read Answer >>
Hot Definitions
  1. Goodwill

    An account that can be found in the assets portion of a company's balance sheet. Goodwill can often arise when one company ...
  2. Return On Invested Capital - ROIC

    A calculation used to assess a company's efficiency at allocating the capital under its control to profitable investments. ...
  3. Law Of Demand

    A microeconomic law that states that, all other factors being equal, as the price of a good or service increases, consumer ...
  4. Cost Of Debt

    The effective rate that a company pays on its current debt. This can be measured in either before- or after-tax returns; ...
  5. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
  6. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
Trading Center