There are a lot of tools that will help you trade on Forex. This makes sense given that good analysis of indicators is what separates profitable traders from the rest.
Platforms such as MT4 and Forex Tester provide an easy way to start trading and learn more about the market. Something that you would require years to master, with Tester for Forex you can learn within a few months.
What is Forex Tester?
Forex Tester is a simple online platform that allows traders to test different strategies. It can work well both for a new trader and a seasoned professional. Tester is based on 16 years of historical data and allows backtesting of multiple currencies and multiple time frames.
Have in mind that this program is in fact a simulator – it doesn’t allow you to perform real money trades. Still, it is pretty great for testing your trading strategy as well as for training.
Third version of the tool is currently being offered to users and a lot of improvements have been made to it over time.
Before you create a new account and order the tool, there is a free demo for download as well as several video testimonials that should get you acquainted.
Monthly price ranges from $22 to $ 29.
Here are some main features that current version of the system offers:
- It merges common “History” and “Testing” modes into one
- Ticks are generated live without having to switch modes
- You can easily switch between project and save currency charts
- It has automated testing
- You can use several monitors at the same time
- Allows better analysis of your performance showing high and low points
- Convenient registration
- You can set your workspace anyway you want
- You can add comments allowing you to find certain things
Besides these features integrated into Forex platform itself, here are some additional things that the company offers upon purchase:
- 16 years of historical data
- Risk calculation and money management table
- Help when choosing a broker or brokers
- 11 step guide that will improve the learning process
- Actionable strategies for trading on Forex
Even though this is one of the top tools in the industry, you also get lots of additional resources. All of that makes the purchase much better and helps you get introduced to the market.
There are a lot of online reviews that don’t mention all the benefits of Forex Tester. However, its significance for training purposes and strategy testing is immeasurable.
If you’re still not sure what to think of it, just go to their site and check out the demo yourself.
What are your thoughts on this platform? Do you find it useful?
Tell me what you think in the comments!