The Top Challenges In Forex Trading and How Automation Can Help

Why Forex Traders Need The Power Of Technology To Succeed Today

Forex trading is among the most lucrative, financially rewarding growth options out there. It is a good place to grow your funds, and, with its 24x7 operations open throughout the year; forex trading provides ample scope and opportunities for savvy traders to trade consistently and successfully. Forex trading companies are using these benefits to attract their high net worth clients into the world of forex trading. These are the digitally-savvy professionals with the means and the nous to give forex trading a meaningful attempt.

However, the dynamics and the ecosystem of forex trading are quite complicated. At times, even the most knowledgeable and experienced brokers find it challenging to sustain themselves and thrive. In such a scenario, automated platforms are facilitating the creation of easy and powerful interfaces for clients to help them trade with minimal risks and higher chances of success. Automation is empowering brokers to add more clients, be more competitive, and take more calculated risks.

Though automation in trading is still in its nascent stages, it is definitely gaining popularity amid brokers. Let us discuss the typical challenges faced by brokers in forex trading and how automation can help brokers in such situations become more efficient and result-oriented in an unpredictable and volatile market.

Typical challenges faced by Brokers

The forex market is one of the largest financial ecosystems in the world, estimated to have trades worth $5.3 trillion each and every day. But there is tough completion for the first-time traders and veterans alike. The attraction of this market brings with it a lot of challenges.

The leading brokers from all over the world almost, always dominate the trading space, leaving the relatively new brokers to compete for a considerably smaller piece of the pie. Also, trust is a major consideration in forex trading for the traders who are just starting out and don’t know the ins and outs of the game.

Of course, the volatile nature of financial markets is a major challenge for those who have not established a strong knowledge base that will help them adjust to the unpredictability of the market. Smaller traders take longer to get established in the competitive landscape of forex trading and thus take longer than expected to get the desired results. For the broking houses looking to onboard new customers, these would be the objections they will have to address to convince them to tap into the forex trading scene.

Automation as a solution

For such freshly-minted forex traders that worry about the trust issue and unpredictable market situations; there is a growing need for tools that are designed to mitigate risks and eliminate losses. Automation offers new hope for broking houses.

Here is a list of advantages of automation in forex trading that can make trading hassle-free for everyone with the interest (and the funds) to dive in!

Easy to use

An automated platform creates easy-to-use client interfaces, taking away the stress for those traders who are new to forex trading. Easy to use, easy to navigate; the automated platform is designed to provide full transparency in transactions. An intuitive dashboard reduces the anxiety of a first-time broker, also facilitating better control over the transactions.

Eliminating emotions in trading-

An automated trading platform can easily minimize the impact of human emotions in trading, by making it more practical and objective with better decision outcomes. Typically, an automated trading platform looks at the price criteria objectively, eliminating emotional interferences. The system allows monitoring of your position in real-time, evaluating and predicting the risk factors involved to drive more data-driven decisions.


Accessibility is a big advantage of automated platforms. These platforms are designed to make it easy to trade for traders who are new to the process, or, even for veterans and professionals. Automation programs are available at different rates, offering different sophistication-levels as per the need of the user. This allows brokers to choose from a range of options. But most importantly, it gives every trader an opportunity to get started with forex trading relatively painlessly.


An automated program is built on absolute rules with no scope for interpretation of any data, other than the one that is being used. This creates reliability and consistency in data. Even newbie traders can use the historical data to decide whether to take a risk in any of the live trading sessions. Backtesting helps the brokers to evaluate a trading-idea thoroughly before implementing it.

Diversifying trading

Automation allows users to test various strategies without too much exposure. They can trade through multiple accounts or even experiment with different strategies at the same time. So instead of risking it all through one account, the risk also gets diversified, minimizing the chances of losing it all at once.


It’s true that the great game of forex trading pays for taking risks. The rewards are always directly proportional to the risks the trader is willing to take. But those risks are in the trade. Why take a risk in learning how to use the systems and platforms? In such a scenario, if you have an automated system that makes it easy to get started and provides the trader with data and ease-of-use, they can focus on the act of trading. It’s the right kind of risk. Self-awareness, knowledge, and discipline are key to making a success of forex trading. Having an automated platform that makes trading painless could be just the right support system to get more people interested in forex trading.