If you ask any real successful foreign exchange traders you will find, for sure, that just about all of them use foreign exchange software. Automation is everywhere these days and forex trading is no exception. In fact in many ways the forex market is ahead of the game because it is so open to online innovation and automation.

What you will find however is that many traders struggle before they find the right automated forex trading system. Some buy them off the shelf and others have a programmer automate their own successful manual system, but they will certainly have used a lot of ‘money’ in demo accounts testing them before they found the right one.

Even designing a robot yourself from a system that you know to be profitable is not guaranteed to make money. Automated trading is a different experience than manual trading and even the best forex systems need some tweaking when they are translated into currency trading software.

So assuming that you are not a mega successful trader with a manual system that you are burning to have automated just for your own personal use, then probably you will be looking for something to buy off the shelf. How do you find the best foreign exchange software out there?

Testing a currency trading program in a demo account before you go live is absolutely essential, of course. You must accept that this will take time and not rush into real money trading.

It is also important to understand that the first currency trading program that you test will not necessarily be the best for you. Regardless of profits on paper or other people’s recommendations, you need to get something that you will understand and be able to operate successfully, something that is a good fit for you.

The best attitude to take is to assume from the outset that you will have to test several forex robots before you find the one that works best for you. This does require some investment of time and money but it is worth it. And before you panic at the idea of buying many robots in order to find one that works, remember that most of them come with a money back guarantee for at least one month, often two. Take advantage of this.

Many of the robots are sold through the online retailer Clickbank who will refund any returns with no question. Just be sure to apply to Clickbank for your refund and not the product developer’s support team. After all, if you bought some Nike running shoes that didn’t fit you, you wouldn’t expect a refund from the president of Nike, would you? You would return them to the store where you bought them.

At the same time, you will want to be sure that the product developer’s support team is there for you when you have technical questions about the software that you bought. That’s what they are for. Phone support is best, then you can have someone walk you through any problems. Emails should be answered in less than 24 hours. If you do not get that level of technical support, you may want to look for other foreign exchange software.

Our top recommendation for prewritten foreign exchange software is FAP Turbo which has been getting great results for ordinary users and in the independent tests that we have seen online.


Filed under: Forex Basics

Like this post? Subscribe to my RSS feed and get loads more!