So you’ve decided to get into the crazy world of forex trading! Trading foreign currencies on the global market can be a steep learning curve but the potential for significant profit is huge. You are doubtlessly doing your research and reading to learn as much as you can about the foreign currency market before going live and risking your money. While you’re doing that, you’ve probably been reading about and being told about forex trading platforms. What are they, are they all equal, and how important are they to your trading? We’ll explore these questions in this article.

A forex trading platforms is a software that gives you all the crucial information you need to make the right decisions about your forex portfolio at a particular moment in time. On one screen, a good FX trading platform will give up-to-the-minute currency rates, the history of the currency pairs you’re trading in graph form, the latest market news, where you stand in terms of your pips, and more. From this same screen, you can enter and exit trades and you can set your trading platform to buy and sell currencies automatically once they reach a pre-defined threshold. This way you can enter and exit trades just as you like without having to be physically present at the computer.