I get asked fairly often what computer would be best suited for someone who focuses primarily on forex trading.
It’s difficult to decide what’s the best computer to purchase next, and finding one that’s suitable for Forex traders seemingly ups the difficulty level. In fact, navigating the process of purchasing a computer that delivers value should be simple.
As a trader myself, and a lifelong computer geek, I’ve had the opportunity to have a unique view of how technology and trading collide. Simply put, here are important features to look for in a trading computer:
- It’s affordably priced.
- It’s super fast.
- It has multiple monitors
- It has a multi-year warranty plan.
This is what your computer should give you, as a trader. Let’s look at why these features should be important to forex traders:
Balancing Pricing and Value
Forex traders should invest in a quality trading computer. However, computer buyers often make the mistake of spending more than they should on features they won’t use. Buyer’s remorse inevitably kicks in.
In order to avoid this scenario, you should make sure that your trading computer delivers an equal amount of value in comparison to the monetary investment.
A great trading computer will not only be affordable but also designed to deliver you high-level features without overstuffing the machine with components you won’t use – causing you to overpay.
An example might be a high-end graphics card, designed for gaming and graphic designers. Forex traders won’t typically use software that has the ability to tap into those levels of graphic output. Trading platforms are not going to utilize this type of hardware. High-priced component that delivers low value. An affordable trading computer shouldn’t have this installed.
Lightning Fast Speeds
Your computer should be super fast. Not just fast enough to browse the Internet or load email quickly. I mean super fast – lightning fast. Your computer should have the ability to process information instantaneously.
While fast data speeds aren’t solely dependent upon the processor, you’ll also need to have a high-speed Internet connection. However, you’ll need a quality, fast processor in order to process the market data displayed on your screen.
Multiple Monitor Forex Trading Computer
Multiple monitors are essential for any trader. Whether you are a day trader, swing trader, or forex trader, multiple monitors work to your advantage by providing you with additional screen real estate to be able to view multiple applications or charts simultaneously.
You can view multiple currencies and have several other historical charts in view at the same time. For the value add, monitors are a fairly inexpensive addition to your trading setup. Our team, at EZ Trading Computers, sees this as a unique opportunity for you to double or triple your productivity during your trading at a super-low cost.
Multi-Year Warranty Plan For Trading Computers
A multi-year warranty is as equally important as the computer itself. Your trading computer should come with sufficient support for you to avoid dealing with any major issues in the years to come. Inevitably computers have problems. Hardware fails and you don’t want to be stuck fixing that on your own.
If an issue arises, you don’t want to find out that a specific part is outside the scope of your current warranty plan. You should make sure, at the onset of your purchase, that you have all the correct support in place. So, when something does come up because it will, you have a support team that can help you get back up and running quickly.
As a Forex trader, you should have a fast, reliable computer. When shopping around for the best computer that fits you, here are the hardware specs that you should be looking at:
- 16GB of RAM (though more is better)
- Intel i7 – 13th Generation Processor
- SSD Hard Drive
You could use these tips and hardware requirements as your baseline to ensure that you purchase the best trading computer for forex trading. Leave Buyer’s remorse to somebody else. You’ll be glad you invested in a computer for forex traders.
There are more trading computer tips like this in our EZ Trading Computer’s buyer’s guide. Check out our “How To Buy a Trading Computer” e-book.
Remember, we are here to help with all your technology-related questions. If you think of additional questions about computer hardware or other questions, give me a call. My team and I are here to help. We’re happy to answer any of your questions about trading computers via phone: 800-387-5250.