Cloud-based foreign exchange (forex) trading services and platforms are gaining more popularity as armchair traders worldwide—equipped with the best online tools and services—are jumping into the action of buying, selling and exchanging global currencies. Even busy traders can now be in control of any market situation on the go.
Let’s take a closer look at the top 7 cloud-based resources on the market today for forex trading.
The Xignite Global Currencies application programming interface (API) provides real-time and historical forex quotes for over 170 countries and more than 29000 currency pairs. Traders can use the API with Oracle’s ERP Cloud to update forex rates in auto mode to enable global financial reports that accurately reflect exchange rates.
By connecting to the API, Oracle ERP Cloud users can adjust the viewing of currency differences down to a local level. Previously, users had to spend hours calculating daily exchange rates manually. Xignite’s APIs are located in the cloud and can be easily accessed in CSV, XML, or JSON formats from any connected device.
The forex market never sleeps; your trading platform must therefore be ready for everything. FXDD’s advanced FXDD-Cloud system stores your valuable trading data inside its cloud infrastructure. As a result, the platform is lightweight yet jam-packed with powerful features accessible 24/7 from any locale, even when your desktop is off/down. Other features include social media integration, streamlined communications with a built-in chat feature, the ability to efficiently run multiple strategies with lowered latency, protection for your MT 4 trailing stops, and more.
Free Meta Trader VPS Hosting with Gallant Cloud is ideal for traders who plan to run their Meta Trader 4 EAs 24/6 within trading hours and do not require their own desktops or modem connections. Gallant’s advanced EA environment gives traders confidence in knowing that their EAs are run in a professional environment built to support 24-hour trading. To qualify for free hosting with Gallant Cloud, a minimum balance of $500 is required for trading accounts. For a permanent access, traders must execute at least one standard lot or an equivalent amount per month while satisfying the minimum requirement for the balance.
Pepperstone recently released its cloud-based Forex WebTrader for MetaTrader 4, a forex platform that gives traders access to full market depth on-the-go through a streamlined interface. The offering is available for Pepperstone’s live clients only (for up to 5 account owners) and features single-click order entry, multi-device/platform support, and more.
With FX Cloud, investment managers, forex brokers, traders, and other forex market participants can automate the overall process of trading—from setting up trade lists, choosing optimum netting plans, and executing and rolling electronic trades to putting trades executed back to the fund portfolio. FX Cloud’s 100% electronic, patent-pending trading automation process is enhanced with smart instant execution and access to industry-leading liquidity from HFTs, ECNs, and banks.
Forex Cloud Servers is a virtual private server (VPS) provider based in the USA. The firm specializes in forex-related hosting services and is run by professional MetaTrader programming experts (Candle Forex). Hosting packages can be costly, but worth it: server hardware/software is best-in-class, hardened for strong security, and comes with a high level of customer care. Additionally, Forex Cloud Servers is the first forex VPS provider that accepts Bitcoin for payments.
Located in Zurich, the Server and Cloud company provides a broad range of cloud services and solutions aimed at forex traders. The firm goes to great lengths to ensure security and privacy in its infrastructure, offering distributed denial-of-service (DDoS) protection for its colocation, dedicated server, and advanced cloud hosting customers.
As you can see from the above offerings, cloud-based forex trading has migrated to the cloud in full force. Though the aforementioned platforms aren’t free, they make up for their cost in spades by offering unprecedented trading flexibility and convenience for maintaining control of your trading account wherever you are.