When you trade leveraged products, this attracts overnight financing fees. In simple terms, this is a fee that you pay to your chosen platform for keeping the position open overnight. This fee will be deducted from your account balance and subsequently charged on a daily basis.

With this in mind, you need to check how much your chosen platform charges. This is usually expressed as a percentage and multiplied against your stake. The more you stake and the higher the leverage you apply, the more you will pay. Being able to trade forex online and make consistent profits is a difficult task. This is especially the case if you are a complete novice in the space. As such, you'll want to see if your chosen forex platform offers a selection of tools and features that can take your currency trading efforts to the next level.

As we covered earlier, being able to make a living by trading forex without a sizable amount of capital can be challenging. This is because you will be targeting very small profit margins - especially if you're looking to day trade.

As such, if leverage is something that you require, be sure to check whether your chosen forex trading platform offers this. Once again, your limits will be determined by your country of residence - with the UK, Europe, and several other regions capped to The best forex trading platforms give you access to many order types. This will allow you to trade forex online in a risk-averse manner. The best forex brokers offer automated tools. In the case of eToro, this comes in the form of a Copy Trading tool that allows you to mirror the buy and sell orders of an experienced currency investor.

In other words, every time your chosen investor places a forex trade, the exact position will be mirrored in your own account. The key point is that the size of your stake will be proportionate to how much you decide to invest into the eToro trader. As per the above, the Copy Trading tool at eToro allows you to actively buy and sell currencies without you needing to lift a finger.

This is great for newbies or those strapped for time. An additional way to trade forex online in an automated manner is to opt for an EA Expert Advisor. Otherwise referred to as a 'forex robot' the EA is a piece of software that has the ability to trade on your behalf. Unlike the Copy Trading tool at eToro, forex EAs are based on pre-programmed algorithms. This means that it has the capacity to scan the forex markets 24 hours per day, 7 days per week.

In order to benefit from an EA, you need to sign up with a trading platform that supports MT4. Many of the best forex trading platforms discussed on this page offer this. Then, it's just a case of installing your forex EA into MT4 and activating it. To ensure that you stay had of the game at all times, it's best to choose a forex trading platform that offers alerts.

Even better, these alerts should be delivered to your mobile phone in real-time. For example, you might receive a notification if a major forex pair breaches a key residence line.

Or, the platform might notify you when a news story breaks that could influence the future price of a currency pair. Either way, the best forex trading platforms ensure that you never miss out on important fundamental and technical events. If you are just started out as an online forex trader, it's best to choose a platform that can help you improve your knowledge of the industry.

For example, eToro offers everything from forex trading guides and videos to weekly webinars. In the case of research, the best forex trading platforms offer financial news and market insights.

This is great for keeping abreast of key market developments and can really help with your trading decision-making process. In terms of technical data, the best forex trading platforms offer advanced chart reading tools. This should include customizable screens, technical indicators, and chart drawing capabilities. The forex trading industry moves at an alarming pace - with exchange rates changing on a second-by-second basis.

As such, you'll want to ensure that your chosen forex trading platform offers a great end-to-end user experience. For example, how easy is it to find your chosen forex market, and are there any difficulties in placing orders?

When we went through the research process ourselves, we found that there is often a huge difference in how user-friendly a forex trading platform is. For example, the likes of eToro and Forex.

com are really simple to use - which is the case on the desktop version and mobile app. However, some platforms - such as TD Ameritrade, are a lot more suited to seasoned forex pros. This is because it TD Ameritrade forex trading facility is packed with advanced functionality tools and features.

While this might be great for experienced traders, it might be overwhelming for beginners. We briefly mentioned forex demo accounts earlier on this page -and for good reason. The best forex trading platforms offer demo accounts that mirror real trading conditions. This is great for learning the ropes of a complex forex trading scene - as you can keep practices until you are ready to risk your own money. Take note, some forex trading platforms put a time limit on your long you can use the demo account facility - such as 30 days.

The top forex trading platforms that we came across offer a huge selection of everyday payment methods.

This makes the deposit and withdrawal process really simple. For example, eToro not supports instant deposits in the form of debit and credit cards, but e-wallets, too. However, some of the forex trading platforms that we reviewed only accept bank transfers. If you are using a platform based in your country of residence, you might still benefit from an instant deposit. But, in a lot of cases, it can take several days for bank transfers to arrive.

This means that you can speak with a support agent in real-time without needing to pick up the telephone.

At the other end of the spectrum, some of the forex trading platforms we came across only offer support via email. This means that you might need to wait several hours to get a reply. If you've read through this guide up to this point, you should now know what it takes to find a forex trading platform for your needs.

All that is left to do now is place your first forex trading order. To ensure you know what this entails, we are going to walk you through the setup process is commission-free platform eToro.

Even if you want to use eToro to trade via the demo account, you will still need to open an account. This does, however, take just a few minutes. All you need to do is visit the eToro website, click on 'Join Now, and follow the on-screen instructions.

You'll need to provide some personal information, contact details, and your national tax number. As a regulated forex trading platform, eToro is required to verify all new account holders. Once again, this takes just a couple of minutes at eToro and will require the following two documents:. Once your deposit has been processed, your can search for the forex pair that you wish to trade. In our example, we are looking to trade the Euro EUR against the Swiss franc CHF.

As such, we enter 'EURCHF' into the search box and click on the result that pops up. You can also select the exact price that you want your forex trade executed at. To do this, click on the 'Trade' button at the top right-hand side of the box and select 'Order'. Then, enter your desired entry price. You can also enter stop-loss and take-profit orders by clicking on the respective button and entering your chosen exit price.

One of the most important decisions that you need to make when trading forex online is that of the platform you decide to sign up with. After all, you will be risking your hard-earned money - so you need to ensure the provider is regulated by a reputable body.

You also need to ensure the platform offers your chosen forex trading pairs and allows you to enter positions in a cost-effective manner. After reviewing dozens of providers, we found that the best forex trading platform in the market right now is eToro. When looking at forex trading fees - you need to consider commissions and spreads. We found that eToro is the best-priced forex trading platform, as the provider charges no commissions and offers tight spreads on most of its FX markets.

If your main priority is having access to heaps of markets - our CMC Markets forex trading platform review found that the provider offers more than pairs. If you are looking to access the multi-trillion-dollar forex trading market for the first time - you might want to consider using eToro. The popular online platform was built with newbies in mind, making it ideal for those of you with little to no experience.

All of the forex trading platforms discussed on this page are safe - as they all hold at least one license with a reputable financial body. Unfortunately, there are also forex trading platforms active in the online space that operate without the regulatory remit to do so. As such, always tread with caution. Some forex trading platforms make money by charging a commission. Others make money from the spread - which is the gap you see between the buy and sell price of your chosen forex pair.

Forex trading platforms can also make money by charging fees related to deposits, withdrawals, overnight funding, and inactivity. eToro allows you to deposit and withdraw funds with Paypal.

It also supports Skrill and Neteller. The best forex trading platform for US residents is arguably Forex. This heavily regulated platform offers over 80 FX pairs - all of which can be traded commission-free. Kane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology. Now based in Malta, Kane writes for a number of platforms in the online domain. In particular, Kane is skilled at explaining complex financial subjects in a user-friendly manner.

Kane has also written for websites such as MoneyCheck , InsideBitcoins , Blockonomi , Learnbonds , Buyshares and the Malta Association of Compliance Officers. Home » forex. Best Forex Trading Platform — Cheapest Platforms Revealed. Kane Pepi Pro Investor. The neat layout and the intuitiveness of the interface make it easy to master. This is one of the easiest forex trading platforms to use thanks to its high customizability and the detailed platform guide available on the website.

The average spread for major currency pairs is between 0. All of the technical indicators and charts are customizable.

And as great as that is, we were even more impressed by the possibility of trading directly from the charts. You can place a Guaranteed Stop-Loss Order. If you're looking for a forex broker that offers a vast variety of currency pairs, then Pepperstone is a perfect choice. It offers 62 different currencies to trade. Pepperstone has been in business since , and has built up a reputation as a reliable and trustworthy forex broker.

Pepperstone was founded in in Australia, and in its first six years, it went from a local name to an award-winning global brand. Today, they are one of the largest forex brokers in the world, with offices in Australia, Cyprus, Germany, Kenya, the United Arab Emirates, and the United Kingdom. Pepperstone is a broker that is mainly forex-oriented, but it also offers CFDs and cryptocurrencies. Pepperstone is a reliable forex broker regulated by seven national authorities, with the major being the ASIC in Australia, Germany's BaFin, and the FCA in the UK.

The company had one data leak in , but acted according to EU GDPR rules, and informed its users and relevant institutions about the breach. All the funds and trading accounts were unaffected and protected, but some personal information was stolen before the attack was stopped. We always appreciate when companies step forward about such incidents and keep their customers informed. Most would hide it under the rug and pretend nothing happened until it was discovered by someone else, so this is truly a mark of one of the best forex trading platforms.

The Pepperstone website is easy to use and navigate. The platform is available in 41 languages, which is a huge positive since it's not always that you find a site translated into your language.

The platform has a clean and user-friendly design. You can easily find what you're looking for, whether it's research materials, customer support, or the account opening process. Pepperstone has very low fees. It doesn't charge deposit or withdrawal fees, and the spreads are generally low, and can even be 0, depending on which account type you choose. Overall, we would say that the fees are reasonable and in line with other forex market trading platforms.

They are all available on the web, desktop, and mobile. All the tools already mentioned support algorithmic trading in one way or another. Setting it up may require a bit of fiddling if you have never done it before. Activating email and mobile push notifications from the MetaTrader desktop platform can be extremely helpful.

If you're having trouble setting up automated trading, you can always call Peperstone's customer service for help. As any contender for the best trading platform should, Pepperstone allows you to open a demo account and trade on paper.

Paper trading is an excellent way to test the platform and see if it's the right fit for you before making any real-money transactions. The response times are fast, and the agents are knowledgeable and helpful.

You can also find useful information on its website, as part of FAQs, trading guides, webinars, and more. We also checked Paperstone reviews on Trustpilot, and the company has a solid score of 4.

One could find platforms with more, but most traders will find this sufficient. This platform was founded 47 years ago, which should dissuade any doubts about its safety and trustworthiness. Our review focuses on these two versions. In our experience, the platforms are highly reliable; there were no mishaps during our tests. The thinkorswim desktop currency trading platform appears intimidating at first glance, and it does have a slightly steeper learning curve than similar products.

But considering the many powerful tools it possesses, taking a bit longer to master it is well worth it. Some consider thinkorswim to be the finest free trading platform, which is true to some extent. It is terrific, and there are no inactivity fees or minimum deposit.

Although the costs of trades are low, fees do exist and are reflected in the forex spread. There are more than technical indicators, and tweaking charts is extremely simple. Autotrade collects trade recommendations from newsletter providers and enters them into your account. Of course, you have to enable automated trade executions first.

Another superb feature at TD Ameritrade is the OnDemand backtesting tool. You can develop strategies or simply practice forex trading by using it — all of your commands will be applied to historical data. You can call, message, tweet, or text TD Ameritrade's customer service team. Interactive Brokers is part of the Interactive Brokers Group, which was founded in During the past few decades, the company has become one of the most popular trading platforms for both regular and seasonal traders.

It enables forex trading across 33 countries and market destinations worldwide. Perhaps unsurprisingly, Interactive Brokers has been crowned with numerous awards over the years, cementing its status as a top online broker. Although the platform comes with lots of functionalities and its interface is visually appealing, it might be too complicated for less-experienced traders.

You can customize the workstation to fit your unique needs. The mobile app also comes with advanced features and tools. There are two plans to choose from: the Lite option is a good fit for beginners, while the Pro plan is tailored to regular traders. There is no minimum deposit fee, regardless of what option you choose. However, if you go with the Pro plan, watch out for inactivity fees.

For major currency pairs, the spread is between 0. The Interactive Brokers platform includes advanced tools for forex market analysis. You also have the option to create multiple charts within a single window. The charts can then be arranged using auto-display features. Instead, you can subscribe to Capitalise. ai, a platform that provides you with tools that can help you automate your daily trading strategies.

Interactive Brokers also has impressive backtesting features. Once you create the strategies, you can test them and make any adjustments you wish. The platform automatically saves all the changes you make.

Whether you need basic information about the platform or you want to learn more about its capabilities, the agents provide quick and accurate answers. According to numerous forex platforms reviews, traders appreciate the many channels through which they can contact agents, which includes live chat, phone, and email.

AvaTrade supports nine major currency pairs, and many other minor and exotic pairs - 65 in total. AvaTrade is a trusted global broker, offering a secure and regulated trading environment. AvaTrade has been committed to providing its clients with the best possible trading experience for 16 years, and its top-notch forex trading programs are in line with this goal. Whether you are a beginner or a veteran, AvaTrade has something to offer.

AvaTrade is a top choice for security and peace of mind when selecting a Forex broker. The company is regulated in seven jurisdictions across six continents, providing clients with added protection and confidence. AvaTrade also offers some of the most competitive trading conditions in the industry, making it an excellent choice for all types of traders.

AvaTrade is great for those looking for an easy-to-use online broker. The platform is user-friendly and offers various features and tools to help you trade effectively.

AvaTrade follows the industry standards for the minimum spreads for major currency pairs: The minimums for the nine major currency pairs range from 0. AvaTrade offers a variety of powerful and user-friendly tools. One of the best things about AvaTrade is its focus on automated trading. The platform offers multiple features for hands-off trading, including the ability to backtest your strategies, set up trade alerts, and even trade directly from your charts. It also allows you to copy trade strategies from more experienced brokers.

AvaTrade offers a demo account to test and build your trading skills. Having knowledgeable and fast customer service is one of the most important things for many brokers, especially new ones. Luckily, AvaTrade has an award-winning support team of experienced agents who will help you solve any problem you might have while trading forex. AvaTrade agents are available via live chat, web form, and phone. For most traders, this will be more than enough.

IG is widely regarded as one of the top 10 forex brokers in the world. Aside from the third-party MetaTrader 4 and ProRealTime software, IG also provides its proprietary FX trading platform. There were a few issues regarding client positions not appearing on its platform in May , but these were quickly resolved. You can easily move elements around to give it the look that suits you best.

The minimum spread for major currency pairs provided by IG is usually around 0. This also makes IG one of the best forex brokers in the USA. This system also allows you to make simultaneous trades yourself. Although IG is among the top 10 brokerage firms, it has failed to add a backtesting feature to its proprietary platform.

This testing tool is only available via ProRealTime. This is a highly valued attribute in any trading platform. But other than that, trading currencies with Ally is very budget-friendly.

Your Ally forex trading account will also give you access to strong FX market analysis tools. Perhaps the most appealing asset offered by the Ally Invest Forex platform is that it lets you create automated trading strategies.

You can adapt them however you like. ET on Sunday to 5 p. ET on Friday. You can use phone, email, or live chat to get in touch with a representative.

com was founded in The site enables you to trade currencies using the MT4 broker and gives you more control over the process with its Advanced Trading Platform. After creating an account, we tested platforms from both mobile and desktop devices. There were no hiccups and everything worked perfectly. The forex trading website allows you to trade with more than 80 currencies. The interface is easy to navigate.

To find the currency pairs you want to trade, just type the names into the search bar. The interface transparently displays bid and ask prices. Depending on your needs, you can choose between three accounts with various fees: Standard, Commission, and Direct Market Access. The STP Pro tailors to high-volume traders and offers more advanced tools, including an order book that keeps you updated on buy and sell orders. Like other top-rated forex brokers from our list, Forex. com enables you to customize your charts in order to improve your trade analytics.

This trading platform prides itself on providing more than 80 indicators that you can add to your chart. Before you start using the MetaTrader broker and trading on the Forex platforms, you can make risk-free investments and check out market conditions with the forex simulator.

This will help you educate yourself about the market and explore trading strategies that increase your chances of success. Profits — and losses — can be made in seconds.

You often need nerves of steel to be sure to jump in the right direction. In this article, we will present you the best 10 platforms for Forex Trading. Read about the conditions and start trading with the lowest spreads. You should consider whether you can afford to take the high risk of losing your money. To get going, you will need to find an online forex broker to place your orders. In this review, we spotlight the ten best forex trading platforms overall.

We have applied various criteria to enable these platforms to secure a place in our top ten. The criteria include ease of use, speed of execution, fees, trading tools, learning resources, market analysis, and real-time data.

Precisely the same benchmarks you would use to draw up your own shortlist of forex platforms. Official website of the forex platform IQ Option. This online broker traces its beginnings back to the binary options markets. Today, though, it has evolved into a fully-fledged forex broker offering its trading platform as a desktop app, a browser extension, and a mobile app. You can use IQ Option on whichever device happens to be the handiest for you. One of the first things you will notice is how easy and intuitive their platform is; even novices should quickly pick it up.

As forex trading is an inherently risky business, IQ Option has sought to remove much of the pain through risk management tools. These include adjustable leverage, stop-loss, and take-profit settings to help protect your capital. Another vital area where IQ Option is particularly strong is market news and technical analysis and evaluation of the currency markets.

These aspects are crucial if you are to make sense of what is happening globally that could impact forex trading — and your profits. Their news service is supported by over technical analysis and indicator tools to provide you with the essential insight you need to make for successful forex trading.

Official website of the forex platform BDSwiss. But BDSwiss is more than merely a forex broker trading on an archetypal reputation. It delivers as well, and by some measure. The numbers, they say, speak for themselves.

And talking of withdrawals, BDSwiss states the average time for a withdrawal to drop is five hours. Not too shabby compared to many other customer support teams we have all encountered in the past.

The forex industry has long recognized BDSwiss excellence with multiple awards wins bursting their trophy cabinet at the seams. BDSwiss is, then, a safe pair of hands for your forex trading. The company is well regulated in numerous jurisdictions, including the US, Seychelles, Germany, and the European Union. Official website of the forex platform Etoro. This Israeli-developed forex platform is hands down the best for social copy trading.

Launched in , eToro is today synonymous with social network trading. eToro is considered a low-risk broker as it is regulated in two tier-one jurisdictions in Australia and the UK. In addition, it is further regulated in a tier-two and a tier-three jurisdiction. And certainly will top the category for social trading, for sure.

But what makes this behemoth of the forex trading marketplace so special? For starters, it has been designed from the ground up for novice traders. You are unlikely to find a simpler entrance into forex trading. This is because eToro is incredibly easy to use and boasts a user-friendly platform. There are some educational resources available on the site. But they are a little thin considering eToro bills itself as a platform custom-designed for beginners.

Plus, the single biggest attraction of eToro is its copy trading chops. Official website of the forex platform FxPro. As an all-rounder, FxPro does a pretty good job. When you use FxPro for your forex trading, you immediately understand that things have been thought through.

As you navigate around and trade foreign exchange currency pairs, it becomes clear that everything works seamlessly. All the dots have been joined together logically. While it may not have the cheapest fees around, this is more than compensated because the platform works exceptionally well and is rock solid. And who can put a price on that kind of peace of mind?

And it does live up to this ambitious claim. With regulation in multiple jurisdictions, FxPro is considered a low-risk broker.

It is subject to regulation in the UK, Cyprus, South Africa, and the Bahamas. Additionally, FxPro has been around since , making it one of the more long-established forex outfits. Since its founding, FxPro has executed million orders for almost 1. If you have traded forex in the past, you will appreciate the choice of platform that is available, namely, MetaTrader 4 and 5, cTrader, and they are proprietary developed, FxPro Platform.

We are no exception. We cannot hesitate to recommend this remarkable forex platform to anyone who cares to listen. He has marginally less silverware than XTB, but as a brand ambassador, we must infer he has an uncanny knack for picking a good team. He may well be onto something with XTB, to be fair. When you sign up, you are assigned a manager to help with your forex trading account. Unlike other platforms that offer forex as an add-on to their portfolio of services, XTB is laser-focused on forex trading and you can also trade more than 1, assets.

You can trade up to 48 currency pairs, with spreads as low as 0. And it is all conducted within their safe and secure online platform. Their award-winning platform appeals to both veteran forex traders and novices alike. The trading environment is transparent and well supported through real-time market analysis, live stats, and arguably the most comprehensive charting tools anywhere.

Official website of the forex platform Admiral Markets. This forex platform is one of the elder statesmen of forex trading, having been established for 19 plus years. Admiral Markets is a globally regulated, multi-award winner that lets forex traders gain access to the markets on the industry-standard platforms, MetaTrader 4 and 5.

There are several good reasons to give Admiral Markets a big thumbs up. Since being formed in , Admiral Markets has made steady progress in expanding into the forex trading machine it has become today.

You can be assured then that Admiral Markets is not some fly-by-night outfit. Two hundred dollars is at the higher end of the scale, so you ensure the account you open has negative balance protection. This tool is an essential consideration when using leverage, and not all Admiral Markets accounts have it as standard. You may wish to investigate Admiral Markets with a demo account first before committing yourself.

Their demo accounts last for 30 days and give you a live trading experience but with virtual cash. You can extend the 30 days demo to unlimited if you wish by opening a live account. But you will need to go through the full document verification process for a live trading account. Official website of the forex platform FXCM. FXCM has been around so long it has had time to shorten its name from Forex Capital Markets, the handle it was using at launch in The brokerage is regulated in the UK, the European Union, South Africa, and Australia, so there are no worries on that score.

It has an interesting mix of trading platforms, comprising MetaTrader 4, ZuluTrade, Trading Station, TradingView, and NinjaTrader. It is equally diverse in its trading accounts.

FXCM is not the prettiest of interfaces, the website in particular. Functional would be the best description. However, aesthetics apart, you can be sure FXCM is the business for forex trading. They have had two decades to get things spot-on for their clients. They are ultra-contactable.

You can get a hold of real humans via live chat, phone, email, and SMS text.

Learn all about the features, pricing, and the pros and cons of the best financial products and services on the market. Explaining complex financial terms in a way that the average Joe and Jane can understand. Advertiser Disclosure: Fortunly. com is an independent review site dedicated to providing accurate information about various financial and business-related offers. How and where the offers appear on the site can vary according to the partnership terms.

Our pages may include reviews of products or services for which we do not receive commission and are not tied to affiliate partnerships; information included in these reviews has been solely collected by Fortunly.

com and has not been reviewed or provided by the issuer of this product or service. The Fortunly. com website does not include reviews of every single company offering loan products, nor does it cover all loan offers or types of financial products and services available.

Trading on the foreign exchange Forex has become quite popular in recent years. There are many reasons for this soaring popularity, including advancements in internet technology, which have made forex trading more accessible. But first things first - to be successful in this business, you need to choose a reliable online platform. Unsurprisingly, some of the finest forex trading platforms were developed by the most successful brokers in the industry.

Read on to find out more. Oanda is widely regarded as one of the best US forex brokers. Over the past two and a half decades, the company has developed a superb platform for forex trading. Its currency converter allows you to see the exchange rates for more than 38, currency pairs over the last 25 years.

Read Review. eToro has been around for 15 years, offering a straightforward and fun forex trading platform for both experienced traders and beginners. Thanks to its copy trading option, which allows traders to watch and copy positions of skilled investors, this currency trading broker is especially popular among beginners.

CMC Markets has been one of the leading brokers for over 30 years. It provides fast and reliable trading platforms that are highly customizable and coupled with some of the most competitive fees.

The Financial Conduct Authority regulates CMC, ensuring that consumers are protected. Pepperstone is an online forex and CFD broker with a strong focus on providing exceptional trading conditions and customer service. Since its founding in , it has grown to become one of the top forex brokers in the world.

Today, Pepperstone serves customers in over countries and is regulated by several financial authorities, including the Australian Securities and Investments Commission ASIC and the Financial Conduct Authority FCA in the UK.

TD Ameritrade has been around for several decades, during which time its services have been continually improving. Its thinkorswim platform is an excellent choice for all US traders thanks to its many tools for trading and research.

Another great platform for forex trading is Interactive Brokers. The functionality of the platform is fantastic, but its backtesting options are where it truly shines. AvaTrade is a trusted platform with over , customers worldwide, providing service across six continents.

Its trading volume amounts to two million trades per month, and the platform caters to traders of all experience levels. According to the client reviews on TrustPilot, AvaTrade provides excellent customer service and support for beginners, with a 4. Its impressive volume of currency traders creates excellent opportunities for large profits. IG stands out from other top brokers thanks to its proprietary feature-filled platform.

Ally Invest is widely considered as a great platform for beginners. Ally Financial, a reputable bank holding company, acquired TradeKing in and rebranded it as Ally Invest. Aside from having a trustworthy parent company, Ally Invest guarantees safety thanks to oversight from several financial authorities. The Forex. The pricing is transparent and highly competitive, while flexible account types accommodate different trading styles.

Our researchers have thoroughly analyzed myriads of trading platforms. Before we dive into detailed examinations, we want to explain our selection criteria. This section will help you choose the optimal forex trading platform for yourself. Foreign currency trading is fast-paced, so you need a reliable platform. This is especially important for those who wish to make frequent high-risk trades.

Furthermore, no one enjoys being confused, so the best interfaces have additional tools and charting options clearly displayed. We suggest looking for very customizable platforms. Setting it up just the way you want will help you feel at ease and in control.

Every platform has costs and charges that you have to take into consideration before committing. Trading FX takes a lot of practice, and even the most sophisticated forex brokers, dealers, and traders need to conduct a thorough analysis of their work on a regular basis and, if needed, adjust their strategy.

Good analysis tools are vital for this aspect of forex trading. Some of these include moving averages, trend indicators, indicators of volume, and many other useful instruments. Charting capabilities are closely related to analysis tools since many traders prefer to have their research results displayed visually. Some trading platforms even enable you to place trades directly from the chart within the dashboard. Automated trading features enable traders to set up triggers that buy or sell currencies when the appropriate conditions are met.

The orders you configure can be market, stop, stop-limit, trailing stop, trailing stop-limit, market-if-touched, and limit-if touched. As you can see from any trading platform comparison, all the vendors differ when it comes to the number of automation options.

New traders should avoid overreliance on software to perform trades for them. Although automation eliminates human error that usually stems from emotional decision-making, other glitches like internet or hardware malfunctions can still occur.

Some forex platforms have a backtesting feature. However, a backtested strategy isn't foolproof, as backtesting is based on the hypothesis that a successful tactic from previous situations will work in the future. Last but not least, we compiled our forex trading list by assessing the customer support provided by the brokers. Pepperstone - Best for algorithmic trading. com does not impose any minimum deposit requirements. Deposit any amount and start trading immediately. The fact that OANDA.

com offers 68 currency pairs places it among the top forex trading platforms currently available. Founded in by Michael Stumm and Richard Olsen, OANDA is a Delaware-based company that provides a secure and fast platform for forex trading.

The platform is regulated by the National Futures Association NFA and Commodity Futures Trading Commission CFTC in the US, proving its reliability as a forex exchange market. However, some online reviews paint an unflattering picture of the site when it comes to customer service and trading with a small account. OANDA has a user-friendly platform with a well-organized interface. Using your OANDA live or demo account, you can trade on these platforms with your existing login credentials.

OANDA is among a small group of online forex brokers that have competitive forex fees. You can also create an account without depositing any money. When it comes to depositing methods, you can use a debit card Visa or Mastercard , Automated Clearing House ACH deposits, or bank transfers.

The available base currencies include USD, EUR, HKD, SGD, CAD, AUD, JPY, CHF, and GBP, and there are no minimums for deposits or withdrawals. Another great thing about OANDA is that it offers many tools for customizing your charts. There are 32 indicators that you can add, as well as drawing tools and nine chart types to choose from. To do so, you need to have an account and request the API token.

OANDA might not be one of the best forex brokers for beginners, especially when it comes to backtesting. To test your trading strategies, you need to learn how to use the robust OANDA Algo Lab. This feature enables you to backtest, code, and employ your own automated forex trading strategy. Thanks to its powerful platforms, low trading fees, and lots of tools for customizing your charts, OANDA is ideal for experienced traders. Its most significant imperfection concerns customer service.

On the other hand, it does have a toll free support number for US customers and a live chat feature available in English, Spanish, and Mandarin. While 47 currency pairs could be considered low, the crypto-friendliness of the platform offsets this.

eToro started out by offering a wide range of innovative investment and trading tools, which fueled its rapid growth and attracted millions of users. Thanks to the social trading option, eToro is an excellent choice for newbies. As of February , in addition to fiat currencies, you can also trade cryptocurrencies.

Unlike some top forex brokerage firms, eToro is a great option for those who are new to forex trading. You can find everything you need with ease, and the platform is available in several languages, including English, French, German, Finnish, and Polish. One-click trading is available, but options for customizing the platform are limited, especially when you compare it to other names on our list. Unlike other forex traders from our list, eToro offers limited options for chart customization.

Nevertheless, the indicators and tools are perfectly sufficient for successful trading. All you have to do is choose the trader you want to copy and the amount you wish to invest, and the rest of the process is automated. Before you start trading, you can backtest your strategies with eToro. This enables you to explore areas where you can improve and guarantees better performance.

In addition to the excellent education center, eToro allows you to send trouble tickets to its agents. The forex trading platform reviews your requests quickly.

On the negative side, email support is slow and answers aren't always satisfactory. Check out a top forex brokers list on any reputable website and hire a forex broker who will invest in foreign currencies on your behalf. It also supports Skrill and Neteller. Visit XTB Now. The thinkorswim desktop currency trading platform appears intimidating at first glance, and it does have a slightly steeper learning curve than similar products. Ádám Nasli Analyst head.

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