Forex Glossary

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A managed forex account is a type of account in which the investor gives his or her forex broker (or other authorized party) the permission to buy and sell currency, either absolutely or subject to certain conditions, on their behalf

Megadroid Forex is a multi-market condition robot used in automated forex trading. It is the first trading software to use Reverse Correlated Price and Time Analysis (RCPTA) technology, which is an emerging trend in artificial intelligence in trading systems. The Forex Megadroid robot has a very high accuracy rate, upwards of 90%. It focuses on only the EUR/USD currency pair in order to improve its levels of accuracy.

Meta Trader 4 is an electronic trading platform widely commonly used by retail Forex Traders. Developed by MetaQuotes Software, the software is licensed to forex brokers who in turn provide it to their clients. Made to run on Microsoft Windows, the software is popular because it allows end users to write their own trading scripts and robots, thereby automating their trading. Most brokers currently use MetaTrader 4 (MT4), although a new version of the software, MetaTrader 5 (MT5) was released in 2010.