Best Automated Trading Software 2020 - Programming Insider

Best Automated Trading Software 2020 - Programming Insider
BlackBull Markets Review | Security, Apps & Features - iNVEZZ
Forex Trading in Slovenia • Forex Strategies • Benzinga - Benzinga

Posted: 12 Aug 2020 12:00 AM PDT

The 21st Century has been characterized by heavy digitalization and technological revolutions and has managed to make its way through Forex Trading as well. Gone are the days of studying the market and making investment decisions, it's time to let the bots do the work for you by using the best-automated trading software.

Kemistri has shortlisted the best automated trading software on the market by conducting research to understand your needs and make tailored recommendations.

The Best Automated Forex Trading Softwares

Metatrader 4
This trading software has multiple integration features, so a user will not have to open new accounts, but rather continue with another or different brokerage account.

Metatrader 4 runs on its own programming language, so it may not be best suited for those looking to program their own moves. Although, the programming that it runs is similar to languages like C.

Metatrader 4 is seen as best for new traders looking to get a good feel at data language and experienced traders looking for a more data-rich experience.

eOption
eOption specializes in its low price point and leveraging itself as low-cost options trading. This option goes beyond just forex though. eOption allows for trading of stocks, ETFs, bonds, and mutual funds. This means that as a trader if you want to trade in numerous markets, this could be a good choice.

If you are looking to be able to program some of your own options though, this may not be best suited for you though. eOption lets its users set up automated trading systems without any programming knowledge.

If you want any manual trading options, you must have a different eOption account though. Once a particular automated trade is set up, it cannot be deviated from by any manual means.

Interactive Brokers
This is another viable option for those looking to trade beyond just Forex.

This platform is well suited for both beginners and experienced traders. For those that are new to the Forex game, users are able to find plenty of educational materials to learn and support their trading journey. For the experienced trader, there is the option to use the Brokers' API solutions.

These API solutions allow users to be able to use programming languages such as Java, Python, and C++. Python, at present, is one of the most popular and accessible programming languages.

There is also the option to be able to execute high-speed order routing as well. Although, this does not come automatically with the use of the platform. The monthly minimum commissions for using either the TWS or REST API is $10 per month.

SoFi Automated Investing
SoFi automated investing is considered one of the top automated forex trading software because it has one of the platforms with the least amount of fees associated with using the platforms and executing trades.

SoFi allows for trading beyond forex though, so another option for a trader looking to get into multiple markets…this includes crypto as well.

Lastly, if you're looking for algorithms that would complement your trading software, definitely check out Kemistri, best suited for Metatrader 4.

BlackBull Markets Review | Security, Apps & Features - iNVEZZ

Posted: 26 Aug 2020 09:03 PM PDT

What can I do with BlackBull Markets?

BlackBull Markets is a brokerage firm that allows users access to over 80 trading instruments. A trader can access financial instruments like forex, index CFDs, commodities, precious metals, and energy through the broker's platform. It offers options for trading in excess of 64 currency pairs, and leverage of up to 500:1 regardless of what type of account you sign up for.

The platform has partnered with leading liquidity providers so as to ensure that BlackBull clients have access to deep liquidity and that trades are secure. The ECN liquidity allows traders to directly connect with liquidity service providers without any internal desks, and this aggregation protocol allows fast execution of trades and access to lower spreads.

In addition to this, BlackBull Markets also provides an education gallery that includes trading glossary terms, videos, and guides. The platform's trading resources further include economic calendar and market reviews – but these are not updated on a daily basis.

Which assets can I trade?

These are the following assets that you can trade on BlackBull Markets:

Forex (64+ currency pairs)
Index CFDs
Commodities
Precious metals (Gold and Silver)
Energy

Payment Methods

BlackBull Markets allow the following payment methods on its platform:

Bank transfer
Credit card
Skrill
Neteller
China Union Pay
FasaPay

What devices can I use BlackBull Markets on?

BlackBull Markets does not have its proprietary software. Instead, it enables trading via the prominent MetaTrader 4 platform and through its web platform. You can access these trading platforms from the following devices:

Desktop or laptop (Web browser)
Software download on desktop or laptop
Android
iPhones

The software download version of MT4 platform supports a wide range of indicators. While these can also be accessed via smartphone applications, you'll have access to a better experience and more information if using a laptop or desktop computer.

How easy is it to use BlackBull Markets?

BlackBull Markets provides trading through the popular MT4 platform, commonly used for forex trading. It does not have its own interface or trading platform. Having said that, the MT4 platform is a user-friendly trading platform that offers a wide range of trading indicators and tools for analysis. You can customise the charts visible on the platform by adding your own indicators and add-ons, so as to create a tailored user experience for your needs.

It is worth noting, however, that as there isn't any proprietary software there are no additional analysis or extra add-on benefits while using the BlackBull Markets interface. In addition to this, the trading instruments offered by the platform are limited. That being said, BlackBull Markets does offer a wide range of options while trading in the forex market, and users benefit from the platform's in-house trade aggregation network.

To help make sure all users know their way around, BlackBull Markets allows the opening of a demo account. This is great for beginners, who can familiarise themselves with the markets as well as the BlackBull trading platform.

Countries supported

While BlackBull Markets are a regulated entity and provide their services in multiple countries, some countries are exempted from using the broker's platform. The list includes OFAC sanctioned countries, the USA, and Spain. Further, in New Zealand, the company only accepts clients that fall under the category 'Wholesale Investor' or 'Eligible Investor' definition.

Regulation

BlackBull Markets is registered in New Zealand with the Financial Services Provider Registry (FSPR). Additionally, the firm is also a member of the Financial Services Complaints Limited (FSCL) dispute resolution scheme, as is regulated under FMA and FSA. Their Financial Services Providers Register (FSPR) number is FSP403326.

In addition to being regulated by these bodies, BlackBull Markets holds clients' funds in segregated bank accounts in ANZ Bank.

Account Verification

As a regulated services, BlackBull Markets maintains a strict Anti-Money Laundering (AML) / Counter Financing of Terrorism (CFT) policy. To open a trading account on BlackBull Markets, you are required to provide:

ID verification: To verify your identity, you are required to provide a valid passport, government ID like a driver's license, or a national identity card.
Proof of residence: A utility or phone bill, or a bank statement containing your current address and the document must not be older than 90 days.

Customer support

The BlackBull Markets has a number of support channels to access the company's customer service. They offer email service and toll-free contact number (for NZ clients) to provide support via phone call. Additionally, they also have an option of live chat on their website.

The company does not have any support form on their website, and it is also important to note that their customer service team is not accessible 24/7. For instance, the live chat option is available 24/5.

The broker

First impressions

BlackBull Markets offers a simple and intuitive mostly-forex trading platform for beginners. It is easy to navigate between multiple options available on its website for details on trading instruments, guides, infrastructure, and technology. Although the website answers all the important questions that a trader might have, there is not a dedicated page for frequently asked questions.

While the trading platform is not proprietary software, the USP of the BlackBull Markets' platform is that it enables ECN-based accounts, a greater market depth, faster execution of trades, and access to its aggregation protocol. Furthermore, while it offers limited options for trading instruments, there are a number of options available for payment methods on BlackBull Markets.

What currency pairs can be traded?

More than 64 currency pairs can be traded on BlackBull Markets. This includes:

AUD/CAD
AUD/CHF
AUD/JPY
AUD/NZD
CAD/CHF
CAD/JPY
CHF/JPY
EUR/AUD
EUR/CAD
EUR/CHF
EUR/GBP
EUR/JPY
EUR/NZD
EUR/SEK
GBP/AUD
GBP/CAD
GBP/CHF
GBP/JPY
GBP/NZD
NZD/CAD

Are there fees for trading?

Yes, but it depends on the type of account you have. While trading in the forex market, a trader pays a commission charge based on their account status; there are 3 types of ECN accounts with varying charges on commission. While the ECN standard account does not levy any commission charge, there is a $6 commission charge in ECN prime account.

BlackBull Markets does offer competitive spreads starting from $0.8 in ECN standard account and $0.1 in ECN prime account. Additionally, users have the option of registering for Islamic accounts, which have no swap fees.

What is the minimum spread?

A minimum spread is the smallest difference between the buy and sell prices of any asset. On BlackBull Markets, the minimum spread changes depending upon the type of account you have. According to the platform's website, the aggregation protocol that connects traders directly with liquidity providers allows traders to access very low spreads. The minimum spread for ECN prime account is 0.1 pips, and for ECN institutional accounts spreads start from 0.0 pips.

Can I trade assets with leverage?

Yes. Trading with BlackBull Markets facilitates traders with leverage up to 1:500 irrespective of the type of account you open. This means you can open a position worth $500 while only staking $1 of your own money. If the market moves in the right direction, this can maximise your profits, but it can also lead to large losses if the opposite happens.

Leveraged trading is highly risky in the forex market, and we recommend that only experienced traders use leverage when opening forex positions.

What are the margins required?

On BlackBull Markets, margin requirements differ with the type of asset, the level of leverage, trading pair, volume, and current trading value. For instance, a minimum balance of $1000 might be required to open a leveraged trade. The formula of margin requirement on BlackBull Markets indicates that the higher the leverage, the lower the margin required. A margin below 50% will automatically close all your open trades.

Can I open long and short positions?

Yes. BlackBull Markets supports the opening of both long and short positions. A long position is when you bet that the price of an asset is going to go up. A short position is when you bet that the price of an asset is going to go down. In a short position, a trader sells the asset to buy it at a cheaper rate and thereby makes a profit if the price goes down.

Are there withdrawal and deposit limits?

Yes. Once again, the minimum deposit requirements vary based on the type of ECN account you open, starting from $200 with the most basic account (ECN Standard), and rising to $20,000 with the most advanced (ECN Institutional).

Withdrawals are carried out through Neteller, UnionPay, Skrill and Bank Transfer. Apart from international bank transfers, most of these methods ensure that funds withdrawn are deposited within 24 hours, and the minimum withdrawal starts at $100. Also, there is a $5 withdrawal fee charged each time that you withdraw money from BlackBull Markets.

Summary of BlackBull Markets forex trading

The BlackBull Markets platform offers a wide selection of trading pairs for users to choose from, and facilitates trading through the user-friendly MT4 trading platform. While the broker does charge a commission fee for some of its accounts, it also offers competitive spreads to users to enable affordable access to forex trading. Additionally, it enables faster trade execution and ECN-liquidity to provide institutional-grade services to its retail clients.

Conclusion

BlackBull Markets has established itself as a trusted platform for providing trading in financial instruments since it was founded in 2014, most notably with its forex trading services. Traders can open three different levels of account, which all give access to ECN execution of trades. BlackBull Markets is fully regulated, and complies with Know Your Customer and anti money laundering legislation to ensure the security of the platform.

It also has multiple servers located in different countries to ensure that clients have instant access to the marketplace. While the number of trading instruments available on BlackBull Markets is relatively limited, the platform does offer a wide selection in the forex market, and there's a reason it has built such a strong reputation in a short length of time.

How to set up an account

Access the official website of BlackBull Markets and click on 'Sign Up' available on the upper-right side of the page. (Alternatively, you can also open a 30-day demo trading account to familiarise yourself with the platform).
Insert basic details including your full name, email address, and contact number.
Choose from the three available account types on the BlackBull Markets platform.
Confirm your account by verifying the link sent on your email.
Submit proof of ID and proof of address as well as other relevant documents.
Your application will be reviewed by their team.
Once your application is verified, deposit the minimum amount based on the account you selected.
Start trading.

Forex Trading in Slovenia • Forex Strategies • Benzinga - Benzinga

Posted: 24 Aug 2020 10:37 AM PDT

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When most people think of Slovenia, the first image that comes to mind is the country's gorgeous mountain landscapes and luxe ski resorts. Forex traders in Slovenia can easily access the forex market with sweeping protections from the European Union. If you're interested in learning more about forex trading, be sure to read our guide before you enter the market.

Get Started with Forex in Slovenia

Before you can trade forex, you'll need to open your first brokerage account. A brokerage account will allow you to access the forex market through your broker. Here are the basic steps you'll go through when you open your brokerage account.

Step 1: Connect to the internet. Most forex brokers now allow you to open your brokerage account entirely online. Make sure that you have a stable, private connection to the internet before you open your account.
Step 2: Compare brokers. There are many international brokers offering services to investors in Slovenia. Compare at least 3 brokerage options operating in your country before you choose where you'd like to open an account. Be sure to know and understand each broker's fee schedule, account requirements, regulatory status and available currencies before you submit your personal information and open your account.
Step 3: Download your trading platform. Though many brokers offer their own customizable proprietary platform, some brokers require that traders use a 3rd-party software to trade. If you aren't sure which platform is right for you, you might want to begin with MetaTrader 4 or 5. These platforms are some of the most widely used and accepted in the forex sphere, and are supported by most international brokers.
Step 4: Deposit trading funds. Before you can place your first trade and start using your brokerage account, you'll need to deposit trading funds. Most traders in Slovenia accomplish this by directly depositing via a bank transfer, but you may also be able to fund your account with an electronic wallet or debit card depending on your broker.
Step 5: Make a trade. Once your deposit shows up in your trading account, you can place your first forex trade.

Slovenia Forex Trading Strategies

There are 2 major forex market analysis methods used by traders who hold the euro as their base currency: fundamental analysis and technical analysis. Let's take a look at some of the differences between the 2 and what you'll need to get started with each.

Fundamental Analysis

A strong economy typically results in a stronger national currency. Traders who use fundamental analysis as their primary market analysis strategy spend their time analyzing the underlying factors that influence a currency's movement. They look at economic reports and political election data to determine the relative strength of each country's economy. Some primary sources that a trader using fundamental analysis might look at include:

GDP reports
Unemployment rates
Consumer confidence indexes
Non-farm payroll data

Traders using fundamental analysis examine primary economic sources to predict how currency values will move.

Most traders who use fundamental analysis take a long-term approach to trading. To get started with fundamental analysis, you'll need a regularly updated source for international news and economic data.

Technical Analysis

Traders who use technical analysis as their primary market analysis method typically don't spend a lot of time examining economic reports. Instead, they use chart patterns and candlestick formations to predict how currencies will move over a short period of time. There are many chart patterns that a trader might look for, including:

Head and shoulders tops and bottoms
Reversal candlesticks
Ascending, descending and symmetrical triangles
Cup and handle

The cup and handle pattern is for traders using technical analysis.

To begin with technical analysis trading, you'll need recent currency exchange rate data and a trading platform with charting capabilities.

Forex Trading Example in Slovenia

Forex traders earn money by strategically exchanging 1 currency for another. For example, forex traders might sell euros against another currency when they think the euro is strong and then buy it back when it weakens. Let's take a look at an example.

Julia opens a brokerage account, which she funds with €10,000. Her broker provides her with 10:1 leverage, which means that she can place trades worth up to €100,000 if she chooses. Julia thinks that the value of the British pound will soon rise in relation to the euro, so she decides to take a position controlling the equivalent of €10,000 worth of GBP using her leverage.

One euro is currently equal to 0.9100 GBP. Julia uses her margin to control the equivalent of €100,000 into pounds, which is a position currently valued at £91,000. Julia keeps her eyes on the value of the EUR/GBP pair — when 1 EUR equals 0.8990 GBP, she decides to cash out and take her profits. Closing out of her position leaves her with control of her original deposit plus €1,223 in profits. Julia has earned a total profit of €1,223 on this trade.

Making Money with Forex in Slovenia

As a member of the European Union, traders in Slovenia enjoy many broker protections, including negative balance protection to limitations on leverage trading from both the European Union and the Bank of Slovenia. Forex trading is legal, and you can deposit as much money as you wish into a local or international forex trading account.

Forex trading still involves a certain level of inherent risk. Limit your risks by following these best practices.

Watch your leverage usage. Though you might be able to access leverage as high as 30:1, this level of leverage can quickly result in a margin call. Be careful when using leverage, especially when you first start trading.
Practice your strategy. Most brokers operating in Slovenia allow you to test out your trading strategy using a demo account before you commit any of your own money. Be sure to master your unique trading strategy before you enter the market.
Stick to the major currency pairs. Trading major currency pairs (for example, the EUR/USD) will prevent you from losing large amounts of money through volatility. It's better to stick with major currency pairs before moving on to trading less liquid minor currency pairs and crosses.

Best Online Forex Brokers in Slovenia

No matter where you trade from, it's important to choose a qualified and regulated forex broker. As a member of the European Union, investors in Slovenia have a wide range of brokers they can choose from when they decide to start trading currencies.

Not sure where to begin? Get started by browsing a few of our top-recommended brokers offering services to traders in Slovenia below.

Forex Terminology

One of the first things that you'll notice when you begin researching how to trade forex is that forex brokers and investors seem to have their own language they use to discuss trades. Familiarizing yourself with a few of the most common forex terms you'll see will help improve your trading capabilities.

Pip: A pip is the smallest movement in a particular currency pair's exchange rate. In most cases, a single pip is calculated to the 4^th decimal place.
Lot size: A lot size is a standardized trading amount equal to 100,000 units of your base currency.
Orders: When you want to buy or sell a currency pair, you'll do so by placing an order through your broker. Your order tells your broker your amount, the exchange rate your order should be executed at (if you aren't placing a market order) and which currency pair you're trading.
Margin calls: If you use leverage to trade and your trading amount drops below a certain value, your broker might subject you to a margin call. If you receive a margin call, you must either immediately close out of your position or deposit more capital into your account to cover your trading losses. EU regulations limit the amount of leverage traders in Slovenia can access due to margin calls and the potential for realized losses.

Safely Trading Forex in Slovenia

The key to entering the forex market is a solid trading strategy. Though you'll enjoy international regulations when you trade from Slovenia, this doesn't mean that you're guaranteed to earn money when you trade forex. Be sure to practice your trading strategy using a demo account before you risk any of your hard-earned money on the market.

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