of their reliability and uniformity. Also, accounts can be kept secure with passwords. But the best advantage is the ability to use web-based software packages from any computer in the world.
With web-based software, there is the possibility of keeping the data secure with high-strength encryption and thus make it impossible to hacker access. Even client-based software is secured, but it is more vulnerable to hackers and also there could be data loss. Viruses could destroy the information stored on the clients computer.
It is understandable that the software has to provide real-time quotes which would signal the trader when to enter and exit the market. In fact, this is the primary feature provided by all software packages. Software packages will provide the current quotes for most currency pairs and will allow buying or selling at the market price, using stop-loss or limit orders. This could be achieved by adding charring features in the software.
Brokers would provide basic software packages freely, but the clients would have to pay for additional features. Some such additional features that clients prefer are the ability to trade directly from the chart and full analytical functions.
FOREX software packages are connected through a series of data servers to the brokers website to make the transactions. These servers need to be reliable for maintaining data integrity and to ensure proper transaction processing. Since servers could be the victims of natural disasters or power outages, it is ideal for the brokers to connect to two sets of servers in two separate locations. It is brokers responsibilities to provide backups and guarantee the integrity of their customers financial data in case the server fails.
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