The number of online trading programs that have been developed since the internet has grown exponentially. Trading online is easy because stock analysis can be done using computer software. It also allows for the automation of many manual tasks. It was long gone that you had to manually trade trend lines and look at blank graphs. You can now see extremely sophisticated stock data with the click of a button.

What's the deal? It all depends on your level of investment and skill. The price and complexity of online Forex trading software can vary greatly. These are the three basic types of software:

Trading platforms

This software allows you to trade with your broker online. Pro traders use highly sophisticated trading platforms that have level 2 access and can trade on all major exchanges. Although most brokers will not provide live trading access, they will give you an online trading platform. You can use this platform to purchase and sell shares online. Some brokers offer more advanced software to their customers (often free).

Software for Analysis

This category includes most third-party online trading software. It allows you to perform in-depth analysis and very specialized analysis with the click of a button. It takes a lot out of technical trading and can take much of the manual work out in identifying trends.