There are various different types of online Forex trading software that you can choose from to help you plan, track, manage and make your Forex trades online. These serve various different purposes and you can use one or a combination of a few of these types of software to make the process simpler for you. You can use a special piece of software to chart the Forex market. This is Forex charting software. It allows the user to keep a track of the exchange rates both historically and predicatively. By using a variety of different algorithms and methods, the software can provide the user with accurate analyses of the Forex market. A Forex trading platform is another type of online Forex trading software. It provides the barebones of the system, which allows you to manage your Forex account online. From the Forex platform interface you can add more money to your investment balance from your bank account, track the amount that you currently have invested in trades, see how much you would make or lose if you were to close your trades now and buy and sell currency. Most of the Forex trading platforms allow you to use stop loss levels and set a take profit limit so that even if you are not at the Forex trading platform when you come to close the trades, the platform will close the trades for you. This is important if you want to make sure that you do not incur too much of a loss, and so that you don�t miss out on profits. A signal generator is another different type of online Forex trading software. It uses market predictions and algorithms to give signals to the Forex trader about what currency pair to purchase and when, as well as the take profit and stop loss levels. This can be quite a helpful tool to the Forex trader.