Forex trading software is available in two types: desktop based and web based. The choice of software depends on factors like your preference, internet connection (it should be broadband), and security.
Web Based Forex Trading Software
This type of software is more secure, as most of the security as well as maintenance issues are dealt with by the software provider. Web based software are hosted on servers that are completely secure. These are the same kind of servers on which credit card processing is carried out. Thus, you don’t need to worry about your personal data getting leaked, as it’s encrypted. Moreover, the software provider creates mirrors and backups of your account information to avert data loss.
In addition to the security issue, web based Forex trading software is more convenient. You don’t download or install them on your PC. The software runs in your standard web browser. Thus, wherever you are, you can access your software and also avail its latest features and versions. While traveling too, you can trade from any computer system that’s connected to the Internet.
Desktop Based Forex Trading Software
Desktop based software stores your data on the hard drive of your PC. This makes it vulnerable to various security threats. Suppose your computer gets infected with a virus. In this situation, your personal information, as well as the reliability of your trading system, is in jeopardy. In the event your hard drive crashes, you can lose your valuable data. If and when this happens, your trading system will be exposed to prying eyes.
If you choose desktop based software, you need to take certain steps to reduce the security risks. For beginners, it would be wise to invest in a separate computer solely for Forex t