This Forex trading post is brought to you by Compare Forex Brokers.
“Forex trading” refers to the trading of national currencies in the foreign exchange market, known as Forex or FX. However, most Forex trading platforms for average investors are made for Windows computers. So what should Mac users who want to trade forex do? Here are some options.
Changing from one currency to another is crucial for trade of all kinds, around the world. Thus, a huge liquidity market has grown around currencies, taking advantage of exchange rate fluctuations that fluctuate due to various factors. A staggering $ 6.6 trillion a day turns (.pdf) in the Forex market.
Forex trading used to be the domain of large, institutional investors, such as multinational corporations and hedge funds. But the internet has changed things. A retail market for individual investors has emerged, so you can now trade directly from your computer or mobile device. And since the foreign exchange market does not have a centralized location, you can trade at any time.
Investors trade the Forex market for a variety of reasons. They can do so to hedge against international currency and interest rate risks, to speculate on geopolitical developments, and to diversify their investment portfolios.
And now it’s easy for practically everyone to get involved and make money. But Mac users need to overcome a few additional hurdles.
Forex Mac Trading Applications
“Not every Forex trading platform is compatible software for Macs,” said Justin Grossbard of Compare Forex Brokers. “[Our] The team is looking at the best forex brokers and trading platforms for Mac traders. ”
So, if you are a Mac user, you need to be careful about which trading platform you choose. Fortunately, some forex Mac applications exist.
With a few tweaks, you can use your Mac instead of having to invest in a new computer just for trading.
One problem is that the most popular Forex trading software, MetaTrader from MetaQuotes Software, is made for the Windows operating system. You can get it for a Mac, but its functionality is limited in some ways. MetaTrader 4 and MetaTrader 5 are in wide use. Direct MetaQuotes download MetaTrader 5 for Mac is available.
To use the Windows version of MetaTrader on a Mac, the first thing you will need to do is download and install either Parallels Desktop or PlayOnMac (which is based on the Wine open source compatibility layer) to mimic Windows on your Mac. u and run MetaTrader 4 or 5.
However, the imitation is not perfect and errors can occur. Not every feature may be available. Automatic trading may be limited. And the popular function of expert advisors may not work.
For some Forex traders, these restrictions can be a breach of contract.
MetaTrader for Mac applications
Fortunately, many forex brokers have their own MetaTrader software for Mac, which is very helpful. However, access from some areas, such as the United States, may be blocked or restricted, and you may still not receive full functionality.
If you choose a broker that offers MetaTrader for Mac, you should do a little broker assignment to determine if gaining access to the program is worth it.
Here are some questions to consider: How much money do you need to open an account? What are the fees and commissions for trade? What are the restrictions on the types of trades you can make?
You will need to learn something about Forex trading methods, of course.
In addition to MetaTrader software clients of Mac-focused brokers, two popular alternatives for Mac users are cTrader and NinjaTrader.
The Compare Forex Brokers website lists the various Forex platforms and Mac software that they support. The site sets the criteria for its experts to select the most appropriate forex platform for your needs. (Some platforms also offer iOS and Android mobile trading apps.)
In addition to detailed descriptions of the positive and negative attributes that each forex platform brings to the table, prominent link buttons take you to each platform’s website. This way you can get a more direct look at the Mac software they support.
Forex educational materials
The Compare Forex Brokers page also offers plenty of educational materials for investors looking to enter Forex trading. For example, you can learn a lot from the part of the website specifically designed for beginners.
In addition, a comprehensive guide to Forex trading helps to define all the conditions and practices involved in active foreign exchange trading.
Finally, the broker reviews section gives you even more information on which platform can help you with the best forex Mac apps. Brokers are deployed by ECN foreign brokers, commission-free brokers and beginner brokers.
Friendly communicator. Music maven. Explorer. Pop culture trailblazer. Social media practitioner.