Act Forex

Overview

Act Forex is a new platform released towards the end of 2009, and it has already been adopted by many brokers, some of whom are listed in the screenshot below.

Many brokers offer a choice between Act Forex and MetaTrader when you open your account, so comparisons must inevitably be made. As Act Forex has come so recently to the market, it has the advantage of using the latest ideas in intuitive interface, and is indeed easy to use.

An interesting feature of Act Forex, listed as optional by Act Forex but implemented by the brokers we researched, is the ability to trade based on amounts rather than whole lots. The workspace is easily customizable, and you can trade directly from the chart you are looking at. You can open and close a position with one click, important if you are day trading and need to act quickly.

The software includes the ability to set a trailing stop, a feature that is not implemented on all trading platforms, and there is an integrated trend indication to assist in your selection of currency pairs.

Just as with MetaTrader, the Act Trader platform allows you to create and run back tests of your favorite strategies, and it supports 15 languages.

Opening an Account

Opening an account to use Act Trader should be reasonably easy. A demo account with any of the brokers who supply this platform will require the minimum of information, and you can be up and running within a couple of minutes. Here’s a screenshot of eForex, who offer this Act Trading platform.

When the time comes for you to stop practicing and start live trading, again the procedure will depend on the particular broker the software is running on. You can see that eForex claim that your live account can be opened in minutes, and they accept funding with a credit card, or bank wire transfer.

Basic Trading

When you first open the software, it comes up with an offering of training videos and advice.

It's recommended you look at these to make sure you know all the features available, but the interface is easy to understand. Here is the working screen, with a couple of open orders listed at the bottom.

All the usual indicators are available, and you can close each position by clicking under the Close heading on the listing.

Pros v. Cons

• √ Easy to use.
• √ Comprehensive trading tools available.
• √ Tutorials available online.
• √ Brightly colored and attractive screen
• √ No real disadvantages, but facilities and operation depend on the broker implementing the interface.

Summary

• Price: Free.
• Ease-of-use: 5/5.
• Value for money: 5/5.