The Ins & Outs of FXCM's Trading Station Desktop
FXCM is one of the largest Forex brokers in the United States and is publicly listed on the NYSE and has been since the late 90s. FXCM is one of the few Forex broker companies around the world who have developed their own in house trading platform. The software designed and trademarked by the company is known as Trading Station. Reading our review below, you’ll find plenty of insightful information about the platform.
When discussing the best Forex trading platform options available in 2016 most people immediately mention Metatrader 4 or the newer Metatrader 5. However, one trading platform that most traders overlook is the software we discovered in our FXCM review, Trading Station desktop by FXCM. The company offer traders a choice between the prominent Metatrader 4 software and Trading Station which we found to be quite user friendly. We think traders wanting to trade global currency will be impressed by FXCM’s Trading Station as they offer over 50 different currency pairings for trading.
Trading Station Desktop Overview
If you’ve spent time perusing this website, by now you would have realised that nearly every Forex broker offers a platform to suit traders of every skill level and predilection. Trading Station desktop, in addition to the web versions that work highly effectively on PC and Mac, accommodates all traders on all computers. Traders on the go who need a mobile option to access currency markets while on the go are able to access similar powerful currency trading tools via Trading Station for iPhone, iPad or Android.
Currency Trading Strategy Testing
Trading Station Desktop allows traders to back test their Forex trading strategies and measure their well thought out trading tactics against historical currency market data. This way the software helps users establish whether or not their trading strategies are indeed effective. Furthermore, it allows currency traders to refine and tinker with their overall trading approach. Traders can get confidence trading on the Trading Station desktop demo tool and ensure their strategies are water tight before implementing them in live currency markets. Please note this part of the FXCM Trading Station tool is only available on desktop.
Trading Station Desktop Currency Indicators
The Trading Station platform offered by FXCM allows users to work with over 600 custom indicators that are made available for download for traders. The beauty of this FXCM platform is that it also allows traders familiar with programming language to custom build their own indicators. FXCM Trading Station also allows users to stream quotes, execute trades with just one click, easily customise the platform layout to trader needs and run extensive reports.
Trading Station Customisation
FXCM know and understand that every trader is different. Different trading styles, strategies, tools, software layouts and colour schemes are all elements that can be customised on Trading Station desktop. Traders like to express themselves in unique ways and it is for this reason that FXCM allow their customers to customise their own user experience.
Trading Station: Free Practice Account
As mentioned above, traders are afforded the opportunity to de-risk their trading strategies in a demo account. One of the main benefits of FXCM is that the company allows traders free access to a practice account. Traders are given the opportunity to train and get comfortable with Forex by playing around with $50,000 worth of fake money before exposing themselves to the live Forex market. Getting accustomed to trading on FXCM’s software and also the speed and volatility of currency markets is invaluable for every trader and is a key point of comparison of FXCM.
In the currency trading markets of 2016, traders are not short of options when it comes to selecting the right forex trading platform for them. If traders have already decided to choose FXCM to trade Forex based on factors other than the trading software offered by the company, do not hesitate to select FXCM’s Trading Station desktop, web or mobile. It has been extensively reviewed and critiqued and we believe it offers traders from novices to experts everything they need to be successful in the Forex market.
About This Compare Forex Brokers Trading Station Review
This Trading Station desktop review was compiled by the Compare Forex Brokers panel of experts in early 2016. We must stress that we had no affiliation or agreement in place with this company when we published this review. To this date we don’t have an agreement in place with FXCM so you can trust the legitimacy of this FXCM Trading Station review knowing that it is as objective as a third party review can possibly be. When putting together all reviews on our website one of the first things we look at is regulation and the reputation of the broker. If a broker doesn’t qualify across a number of areas we won’t feature them. We’re also diligent in updating reviews so you can be sure information found on our site is relevant and up to date.