The Top 10 Forex Trading Systems Rating and Review Factors

The Top 10 Forex Trading Systems Rating and Review Factors

If you are considering purchasing a Forex trading system in the near future below are a few aspects you might want to take into account when making your final decision. There presently are a multitude of currency trading system on the market and there are more being introduced on almost a daily basis. When examining these FX software trading systems you will be overwhelmed with marketing material making your final choice confusing.

The software should be used as a tool to help you make trading decisions and not as a decision maker itself. After numerous tests we have not found an automated Forex software trading system that is able to produce consistent profits for extended periods. That does not mean those systems should not be considered. All of the automated trading systems allow the automatic trading to be turned off and trading be done manually. What these systems do exceptionally well is gather data, determine what information is significant and send a signal based on its preprogrammed algorithm of what is important and what is not essential. One special point of emphasis which is, if you have not taken your time to learn Forex trading from the basics to the advanced stages these systems are going to be of little value to you.

COST: This is totally not a consideration which should be used. Most of these products are priced in the same range and are very inexpensive to boot. With one single successful trade the cost of the systems is usually recouped.

LONGEVITY: A very important aspect to think about is how long a product has been on the market. The longer the software has been on the market the more customers it has and the more feedback the developers have received. More than likely these systems have gone through numerous updates, refinements and upgrades. Even Microsoft which spends billions on software development always has issues when a new product is first introduced and the bugs are worked out in latter versions.

FREE UPDATES: This is a controversial issue. Most of the systems offer free updates. I would prefer that charged a nominal fee for these as it would increase there cash flow and provide them funds to continue to make the products better.

SYSTEM CATERGORY: Essentially Forex trading systems fall into three distinct categories. They are trend, signal and formula based software. Make sure you aware of exactly what your favorite trading method will be when examining the different types of product.

Regardless of what Top 10 Forex trading system you purchase you can be sure that is has be tried, tested, updated and upgraded and you will be getting a pretty good product. Be sure to understand that these systems can make you huge amounts of money if you know what you're doing. But, it you have not take time to learn currency trading online then they will be of little use and more than likely you will not be a profitable trader.