The 15 Best Forex Trading Platforms in the World
Being a successful forex trader requires more than just having the trading skills to navigate the market. There are also external factors that can affect the success of a trade even when the right analysis is done. These factors may include the responsiveness of the trading platform employed, availability of functional tools in the platform that will assist the trading process, and the promptness of the broker’s personnel in rectifying issues on the platform.
For a trader, particularly one that is a beginner wishing to be successful in forex trading, choosing the right trading platform is definitely a large part of the trading strategy. A trading platform may be the difference between making consistent profits in the market and exhausting one’s forex account.
The number of trading platforms utilised by brokers scattered across the world are numerous, so one needs to be very careful when deciding on the platform to make use of. These 15 trading platforms are definitely ranked among the best in the world and are sure to produce excellent trading results if applied appropriately with a potent trading strategy.
Market.com is perhaps one of the most trusted brokers for not just the forex market, but also for trading other variables in the financial market. With a support service that can only be rivalled by a few, their trading platform is certainly one to consider when seeking a forex broker.
Market.com helps beginner traders get accustomed to their platform by providing them with a demo account that has virtual funds. Hence, beginners are able to trade with the platform without risking their own funds in the process.
Market.com’s forex platforms include the Webtrader, which is perhaps one of the easiest platforms to use and doesn’t require the download and installation of any software. But for traders who are accustomed to the Meta Trader platform and are unwilling to make the leap to a web based alternative, the Market.com’s Meta Trader 4 is the perfect match for them. The generally accepted trading platform is laden with tools and indicators that are certain to maximize the opportunities in the forex market.
With Market.com’s negative balance protection policy that is available to all registered clients, their platform is able to provide trading leverage of up to 1:300, allowing traders to magnify their profits by enormous folds without risking more than their initial investment.
Headquartered in Melbourne, Australia, Pepperstone is certainly among the top players in the forex market today. Not only do they have the right personnel to meet the needs of their vast customers, they also offer several types of trading accounts that have all been streamlined to suit the various kinds of traders participating in the forex market.
Pepperstone has quite a variety of trading platforms that are capable of meeting the distinctive taste of their clients. Obviously the most is their Meta Trader 4 platform, which has basically become the default trading platform of the forex market. The Meta Trader 4 platform offered by this forex broker is also available in different variants with the Windows and Mac versions the most popular among their client base. There is also a Meta Trader 4 with ECN (Electronic Communication Network) feature that helps in bridging the gap between forex traders and liquidity providers. This powerful trading platform empowers traders by directing their request for liquidity straight to the providing institutions instead of using the conventional route that involves the brokers. A web version of the Meta Trader 4 platform is also available for traders uninterested in downloading and installing the software of the trading tool.
This has to be one of the most innovative platforms available in the forex market, or what else can one say about a trading platform that allows its traders to copy currency trades made by the best in the market. This type of trading strategy is referred to as social trading; and Etoro’s trading platform is one of the pioneering tools of this strategy. This is essentially the best option for beginners who barely understand what trading the forex market entails, but are still determined to make some profits. By copying trades from the most successful traders in the market, they can join their mentors in raking in money from the market even as they continue to learn the strategies of trading. With a maximum leverage of 400:1 available to the customers on the Etoro platform, they can increase their trading income even while remaining a novice with little knowledge of the market.
Fx Pro is one of the most popular forex trading companies for traders in Europe and non-US residents. They provide services that help ease the hectic processes and procedures involved in forex trading, while also offering tools that are capable of optimizing the forex trading potential of their clients. Apart from forex trading, their platform also provides an avenue for the trading of CFDs like shares, metals, indices and futures.
Fx Pro’s platform is available in many variants that are able to meet the standards of their clients. Their Fx Pro cTrader is perhaps the darling of all their trading platforms with a very sophisticated design that is certain to appeal to all categories of forex traders. Their much heralded Meta Trader 4 platform is also available in three different formats to suit the different type of traders that frequent the currency market. With mini platforms that are available for mobile devices like iPhones and iPads, forex traders can continue to experience the market regardless of their locations and the devices in the their possessions.
Released from the stables of American forex trading firm Forex.com, the FOREXTrader PRO is an innovative forex trading platform that is being used by many forex traders to make lots of profit. Available in several variants, it can be used directly on the internet or downloaded as software to be installed on a system. With a Strategy Wizard already embedded in the platform, traders can create and modify forex strategies to help improve their profit margins and increase their trading efficiency. It is also available in mobile devices like iPhones and Androids.
This is a unique forex trading software that is regarded as a multi-asset trading platform. It offers a professional forex environment for all kinds of traders to capitalize on the opportunities presented by the market. Created by PFSOFT, this platform is suitable for short term traders like scalpers and day traders. It is commonly used by financial institutions including hedge-funds, brokerages, and banks.
PFSOFT’s Protrader Multi-Connect
Another trading product from PFSOFT, the ProTrader Multi-Connect is a trading platform that is well suited for both financial institutions that trade in very large volumes and individuals who are only able to utilize a minimum amount of funds for their trading goals. Used to trade different markets across the financial scope, the platform is employed by very popular forex brokers including DirectFX, FXCM, LMAX, and OANDA.
A very powerful tool in the hands of a competent trader, the platform is licensed to trade both the FX market and the stock market.
This online platform is very easy to access and use with only a free registration process standing in the way of a trader and tremendous profit in the forex market. A charting software with a main focus on the technical aspect of trading, it equips even the most basic trader with the tools that will make accurate trades to be executed with very little delay.
With specific analytical tools like a candle-stick pattern identifier, traders can easily spot price action signals when they occur on the trading platform.
Interactive Brokers Platform
With a minimum funding balance of about $10,000, this perhaps isn’t the ideal trading platforms for beginners who simply want to test the waters of the forex market. However, for the big boys and investors with vast experience in the financial market, this is definitely a perfect trading platform to subscribe to. The robustness of its Workstation is certainly an eye catching feature of the platform, which is able to trade any kind of asset and commodity known to mankind. With a very impressive client view, it is a perfect merge of functionality and client service. A peculiar feature that distinguishes this platform from others is the availability of dozens of different order types for its user to utilize.
X-Open Hub Platform
This is another mega trading platform that offers traders the opportunity to deal with over 1000 trading instruments including forex, commodities, indices, and shares etc. Providing a buoyant technological platform for banks, brokers, and other trading institutions, it is one of the most efficient equipment used by liquidity facilitators and retail brokers that are providing STP and ECN trading services. With execution speeds that are among the best in the industry, traders utilizing the platform will certainly not lag especially when executing trades during chaotic news events.
An online trading platform that provides trading opportunities on varieties of financial markets, the NinjaTrader is certainly on the forex trading platforms to look out for. The company’s optimum-performance software is a very potent trading tool that is equipped with a vast range of indicators and charting system that makes trading the FX market a very easy task to accomplish. Perhaps one of its most remarkable features is the ability to modify the elements of the software until an ultimate trading tool is fashioned that has the capability of executing trades with impressive accuracy.
Sierra Chart platform
A trading platform with a uniquely customized design, the Sierra Chart is definitely a frontrunner in real-time forex trading. Just like its name suggests, the peculiarity of the platform is majorly exhibited in its unique charts that successfully convey the details of the market in a much lucid manner. Whether it is the graphical representation of a price range or the employment of candle-stick patterns to find trading signals in the market, Sierra Chart is certain to produce a clear picture that is certain to boost the trader’s confidence when executing a trade.
TD Ameritrade Thinkorswim
One of the best platforms available in the market, Thinkorswim is a trading software that is downloaded to a desktop system. While providing the trader with a streaming feature used for real time data, it also gives the trader access to certain reports about the forex market, which will certainly aid the trading process. With a vast range of technical indicators also at the disposal of the trader, a proper overlook of the forex market can be done without any hindrance. Mostly suited for advanced traders, it also offers a lot of educational resources that are certain to improve the trading skills of a beginner.
AvaTrade trading platform
AvaTrade has one of the most diverse trading packages, and its platform is likewise impressive. Not only does its platform have advance strategies and trading APIs that assist traders in picking accurate trades, it also allows well advanced currency traders to utilize algorithms in plotting their trading strategy.
Embedded with an automated feature, the AvaTrade platform is able to cater to the needs of various types of trader.
With a Meta Trader 4 variant also available for users who aren’t familiar with the more complex versions of the AvaTrade platform, every of their clients are guaranteed top notch forex tools and efficient services.
FXCM trading platform
The platform of one of the most popular forex companies in the market, it utilizes the very common yet efficient MT4 in executing trades. Highly customizable, it is very user-friendly and definitely perfect for beginner traders that aren’t interested in dealing with the complicated tools and charts that are main features in other platforms. With the basic trade orders all available on the platform, traders can easily execute buy or sell trade orders without any delay in the process. The platform is also used to trade certain commodities like gold and Brent oil.