Doing a lot of research and learning on how to do it is the key to making profits from forex trading. However, if you are too busy to be engaged in research on money markets in order to arm yourself with the necessary knowledge, you never need to be disheartened. Still, you have the possibility of engaging in trading foreign exchange using software designed for the purpose.Types of forex trading softwareThough different trading companies on forex have their own different software packages that allow their traders to do their transactions automatically, these software packages could be divided into two main categories. One is online software and the other is desktop based software. Though both have similarities and specialties you have the option to choose your favorite type of software.Desktop type of forex trading softwareThe specialty of this type of software is their being resident in the hard drive of your computer. Supplier of the software will send the updates on daily basis in order to have your software up to date. It is necessary for you to install these updates and have your software up to date. Also, you are responsible on the protection of software from viruses and hackers. The advantage with this type of software is that you never need to be connected to internet all the time in order to work with them.Web based softwareWhen you use web based software for forex trading you never need to do any downloading. As a result, there is no need to protect it from viruses and hackers either. The only thing is that every time you need to use the software it is a must to log into internet. This type of software is always filled with up to the minute information.When you use online software for trading in foreign exchange you need to pay a monthly fee. In case you purchase one that is desktop based you never need to do so. You only need to pay a onetime fee at the time of purchase. Normally this fee includes payment for lifetime updates.Whatever the type of forex trading software you buy it is able to make your trading profitable. Since research necessary to compile data for these software packages are done by professionals they are useful in helping you more reliable predictions. They will reduce your workload also. Choosing between the two types of software could be done on your preference.