SaaS vs Standalone Trading Software

When it comes to managing your business correctly and effectively, it is important to consider tons of different influential factors. Nowadays, every sector is trying to increase its level of digitalization and make its products or services more accessible. This focus is under the attention of many similar companies, which automatically raises the level of global competitiveness.

This is how technical service features significantly change over the years. Today this is the essential side of business success. Because customer location is not a barrier anymore, more and more people try to buy or trade in the online space. The demand is high and still increases, which forces companies to run their business effectively in the online market too.

This is how the names SaaS or Standalone appear in today’s business space. These are the main technical options that provide the user access to the service in the online space. If these names are not familiar to you, in this article we will show a clear picture of SaaS as well as Standalone. So it will be much easier to select and use one of them for your business goals.

Everything You Should Know About SaaS

As we said earlier, this acronym, as well as Standalone, is about the delivery and connection to the customer. SaaS is the same as software-as-a-service. So, this is the delivery system type that is completely based and held in an online space. This is not a separate platform that can be worked on without internet access. This is the online website where you can have direct access from your browser. So, if you can only use the service online, you are using SaaS.

For online financial traders, you will experience working with SaaS when you start working with additional trading services such as autochartlishts, bitsgap, and many others. As you can see they are not as influential and essential as MT4 or MT5. This clearly outlines that SaaS-based trading platforms are mostly additional helpful software that provides users with a certain aspect of the trading sector, including a specific service, educational program, etc.

Also, you need to consider that most such kinds of software require payment if they are separate tools. But anyways, it is up to you and you are not obligated to work with technical features. SaaS-based platforms also are connected to automated trader bots which are very popular at the moment.

What Do I Need To Know About The Standalone System?

When it comes to online trading, most of the platforms are Standalone type software. This includes leading platforms such as MT4, MT5, and others. Mentioned platforms can be enriched with various add-ons. For example, if you wish to backtest a particular automated trading strategy, you may download MetaTrader5 historical data here and see how your strategy would have performed over the course of the last few months. When using a certain SaaS software, you may still be able to access it within the software, yet the option of importing the data of a certain broker will usually be unavailable.

SaaS VS Standalone – What Are The Main Differences

Even though there are more differences between SaaS and Standalone, they are both suitable options for different types of services or businesses. The main difference is with the connection type. With SaaS, you need to get internet access while Standalone works offline too. But on the other hand, comfortable access without the internet costs more.

The key result of their comparison is that Standalone is connected to the essential services of online financial trading. The fact that it is represented in the leading platforms such as MT5 or MT4 clearly outlines the competitive advantages compared to SaaS. On the other hand, we can’t say that SaaS-based software is less important. They are non-essential but they do a great job of increasing the probability of effective trading. Even though they mostly aren’t free, there are some of them such as FXBlueLabs which is free for traders because brokers paid for that.