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Setting up your Forex broker trading software Part 1

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Various Forex brokers offer a range of different trading platforms. Some may be their own software or MT4/MT5; maybe even clones of MT4/MT5 that they sell as their own. However, whilst various Forex trading platforms may look different, they all do exactly the same thing. Ideally, the buying and selling process needs to be seamless so there are not many trading platforms out there that are not usable. With this in mind, we demonstrate how to initially set-up your platform after you have successfully downloaded it onto your computer:

  1. Display the correct charts - there are many different currency pairs that can be displayed on charts. Despite this, you must ensure that the currency pairs you wish to trade are constantly within the arrangement. By simply dragging and dropping the currency pair options onto your charts, the correct pair will appear. 
  2. Time - at the bottom of the chart you will see a time line. Most Forex brokers set the time according to the country they are in. This is why you must know the time zone of your Forex broker. This is especially important when anticipating an important news/data release. If the time difference is not identified, news trading can be missed or flattening your order may be executed too late/early. 
  3. Colour setting - obviously everyone has their own preference. Despite this we show you how to set the colour scheme to the most popular 'white on black' setting. 
  4. Adding extra charts - You may wish to analyse 8 charts at one time. This is why we teach you how to add extra charts to the dashboard within seconds and add any changes seamlessly.

To familiarise yourself with a trading platform or practice and operate the same features described in this Forex training video please open a 'live' or a 'demo' account from our Forex brokers list. By registering for an account you will get access to a trading platform. Please note that we are using an MT4 platform in this video so to operate the same features ensure that you open an MT4 or MT5 account. 

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