Foreign exchange (Forex) is the most actively traded market in the world with a daily trading volume exceeding $4 trillion. Zecco Forex is a powerful learning and trading tool for investors who want to invest in this highly volatile exchange.
While it offers great opportunities, the Forex market also poses great risks, so investors must be highly proficient in foreign currency trading before risking real money.
This Zecco Forex review will examine the features of this service that allow you to learn and practice virtual Forex trading before using the software suite as a powerful tool for real world trading.
Using Zecco Forex for learning
Forex trading generally involves buying, selling and holding foreign currencies with the idea of buying currencies that are rising in value and selling for gain before the currency starts to fall in value.
However, the comparative values of foreign currencies can change rapidly due to a wide range of factors including supply and demand, economic factors and the political environment.
Because the market is so volatile, traders must really know the ins and outs of Forex trading before investing their hard-earned money.
Zecco Forex provides excellent tools and resources for learning in-depth about foreign currency trading. An online tutorial provides a well-organized course on Forex basics, technical analysis, fundamental analysis and more advanced trading principles along with an extensive glossary of technical terms.
The Zecco premium education option allows users to learn via online classes and webinars at their own pace.
Practicing in a virtual trading environment
Once users have taken the time to learn Forex trading basic and advanced principles and techniques, the next step is to practice what they have learned using a virtual foreign exchange market.
Zecco Forex provides a powerful practice version of the software that is easy to learn and use. The virtual trading platform allows users to buy and sell real world currencies, but using virtual funds without any monetary risk.
The virtual trading is in real time just like actual Forex trading and it involves all the same analysis and decision-making. However, since you are not risking actual money, you can practice until you perfect your trading strategy and techniques. Zecco Forex provides $50,000 in virtual funds for practice trading.
For both practice and real world foreign exchange trading, Zecco Forex provides a robust suite of tools and resources to help users make the right trading decisions.
Utilizing the Windows operation system, Zecco ForexTrader Desktop provides an intuitive, user-friendly interface with excellent charting capability that allows users to quickly identify trends on the currency markets.
Top Zecco Forex Desktop Application Features
The main features of the desktop application are:
- Allows management of orders and positions directly from chart displays
- Users can choose pre-set layouts or they can customize their own layouts
- Audible trade signals and confirmations
- Option to set stop loss levels and limits by pips, rate or dollar P&L
- Live major market streaming ticker
In order to use Zecco ForexTrader Desktop, computers must have the following system requirements:
- Windows Vista or Windows XP (SP2) operating system
- Internet Explorer 6.0 or higher
- Broadband Internet connectivity
- At least 1 Ghz processor, 512 MB of RAM and 100 MB of free hard disk space
- Monitor resolution of at least 1024 x 768 (1280 x 1024 recommended)
Highly accurate quotes
Zecco Forex Pro provides precise real-time price quotes with accuracy of more than 0.1 pip increments.
Pricing on this platform utilizes a dealing spread transaction cost rather than a trading commission. The dealing spread is the difference between the ask price and the bid. Zecco Forex provides the tightest possible spreads that generally reflect the quoted spread providing traders with advantages during periods of high market liquidity.
Quoted prices display in real time in 0.1 pip increments in a slightly raised font dealing box.
News updates and market research
The Zecco solution provides ForexTrader Charts that allow clients to analyze trading patterns for buy and sell signals. These charts integrate fully into the Zecco Forex real-time trading platform. Charting features include:
- Multiple indicator overlay for technical analysis
- Automated trending and indicator continuation
- Customized charts capability
The trading platform also provides a 24/7 streaming news service with continuous updates on market trends. Currency levels can rise or drop quickly on current events, so Forex traders must stay abreast of news related to their investments.
Additionally, Zecco Forex provides expert foreign exchange research and commentary that covers both technical and fundamental analysis methods. The service publishes research and trading tips on an intraday, daily and weekly basis. Zecco offers three actionable market research updates daily after the close of trading sessions at New York, London and Tokyo.
The daily updates provide analysis of each major trading session and include tips on how to capitalize on current Forex trends.
Free practice account
Zecco Forex allows interested parties to try their trading suite free of charge with a $50,000 virtual trading account.
The practice account involves using virtual money so there is no risk involved. The account provides all the important features of the real trading account allowing you to buy and sell just as you would on the actual foreign exchange market.
In this way, you will be able to test your mastery of the Forex analysis techniques before risking any of your money.
24/6 customer support
GAIN Capital Group provides customer service for the Zecco Forex application on a 24/6 basis from 10:00am (ET) Sunday to 5:00pm (ET) on Friday.
Customers can call a toll free phone line, an international phone number or use email and fax options for help requests. Online resources include a forms library, multiple FAQs and an online message center.
This Zecco Forex review finds that the trading service provides an excellent value for customers looking to learn and practice foreign exchange trading. The real world trading tools and resources are first rate and provide customers with maximum flexibility for both technical and fundamental analysis. We recommend this service for beginning and advanced Forex traders.