5 Mistakes To Avoid When Choosing Forex Trading Software

April 6th, 2009

As an experienced forex trader, I have made some mistakes in choosing the wrong forex trading software. There is no doubt that this can be a costly decision, and their are definitely some pitfalls you need to be aware of. Here are 5 of the most common mistakes.

1 – No Feedback

Always seeks customer testimonials and positive feedback on the product you are interested in investing in. Personally I think forums are the best place to find these – as testimonials can sometimes be doctored.

2 – No Live Marketplace Analysis

Some form of live marketplace analysis is crucial in the software you are considering investing in. Without this you are essentially flying blind.

3 – No Demo Account

You need some form of demo account to test out the forex trading software. Why should you ahve to risk your own capital on a system that has not yet proven itself?

4 – No Live Support

When utilising forex trading software, some form of live support is crucial – be it via online or phone. You may encounter problems which will require support.

5 – No Money Back Guarantee

If you have any doubts as to the potential of the product, then make sure you can get a refund before you purchase. This is one of the clear-cut advantages of purchasing the software on the clickbank network – you are guaranteed a refund if you are unsatisfied. This way you can simply refund the product until you find one that delivers and matches your needs.

Conclusion

Finding forex trading software is not easy – hopefully this post has shown you the things to avoid so you can make a more informed decision.

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2 Comments

  1. LC100

    I agree that the robots certainly have a place, but what to do when the markets change and the price action is different? I have a robot I use with my trading system and I have found that the best thing to do is be sensitive to the changes in the markets and make the necessary adjustments to the robot.
    L.C.
    udaytrading.com

  2. yourfxreviews

    That’s true.. all those things need come with the product

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