Forex Charting Software

AAA

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.

INVESTOPEDIA EXPLAINS '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. USD

    In currencies, this is the abbreviation for the U.S. dollar. ...
  2. Quote Currency

    The second currency quoted in a currency pair in forex. In a ...
  3. Base Currency

    The first currency quoted in a currency pair on forex. It is ...
  4. Currency Pair

    The quotation and pricing structure of the currencies traded ...
  5. Forex Futures

    An exchange-traded contract to buy or sell a specified amount ...
  6. Daily Cut-Off

    In the forex market, a particular point in time specified by ...
Related Articles
  1. The Fundamentals Of Forex Fundamentals
    Forex Education

    The Fundamentals Of Forex Fundamentals

  2. A Primer On The Forex Market
    Options & Futures

    A Primer On The Forex Market

  3. Getting Started In Forex Options
    Options & Futures

    Getting Started In Forex Options

  4. Commodity Prices And Currency Movements
    Forex Education

    Commodity Prices And Currency Movements

comments powered by Disqus
Hot Definitions
  1. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  2. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  3. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  4. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  5. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
  6. Over The Counter

    A security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, etc. The phrase "over-the-counter" ...
Trading Center