Forex software systems

Forex software systems: An overview into modern Forex software systems.

Foreign Exchange (Forex) software is designed to allow end users to trade currencies online in a real time, secure, private and efficient manner.

The major issues that a foreign exchange software platform should address are:

* Real-time- providing constantly up-to-date exchange rates in increments of a few seconds. These rates, in contrast to traditional bank rates, are actual, tradable Forex quotes. Once you decide to trade on a currency you can "lock" in a rate and this will be the actual rate at which the transaction will take place.

* Security, privacy and data integrity- for any user performing financial transactions over the Internet, this is a main issue. This point is further emphasized with Forex trading software, where the amounts traded may be significant. Forex trading software must be designed with the highest level of data security, integrity and privacy. Most systems use at least one layer of at least 64-bit SSL encryption, as well as various data backup and recovery methods and procedures.

* 24x7 availability - providing updated Forex quotes 24x7 and allowing a trade any time of the week.

Web-based versus downloaded Forex software

Forex software comes in two main forms - web-based and client-side Forex software:

Web-based Forex software system

Web-based Forex software means that all the operations are performed on the vendor's website, pending user verification. That means that users are offered a familiar, web-based interface, to perform their desired operations. The advantages of such a system are:

• No need to download and install proprietary software
• Log in anywhere, anytime. A web-based system allows instant access to a user account, from any Internet connected computer.
• Familiar and friendly, web-based user interface.

Client side Forex software system

Client-side Forex software is a program that a user downloads and installs to gain access to the Forex markets. The software communicates with the vendor's server offering Forex services.

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