They offer one-click trading, flexible account types, and professional customer support. This website is rated as the Best Forex Trading Platform by ForexTrade. This software allows you to make trades quickly and efficiently, so you will want to choose a platform that provides an intuitive interface. You also want to find a reliable platform, especially if you plan on trading high-risk currencies.

The best Forex trading platform will offer complete reports that will help you make informed decisions about your investments. A cutting-edge trading platform will also support automated trading solutions, which are rapidly becoming a key trend in global finance. Ava Trade is another popular forex trading platform. It offers access to MetaTrader4 and ProRealTime platforms and is a great choice for beginners and professionals alike. The best forex trading platform has a variety of features, including a free demo account, extensive charting capabilities, and many more.

Also Read: Broker Saxo Bank: Veteran Broker Providing Tens of Thousands of Trading Instruments. MT4 and cTrader are the best Forex trading platforms for beginners. Both provide comprehensive manuals and advanced trading indicators. MT4 has an inbuilt technical analysis pattern recognition system, and ProRealTime offers a cutting-edge trading platform and an award-winning educational resource center. The Best Forex Trading Platforms are easy to use and offer a lot of options.

MT4 is the most popular, but there are many other good options available. The IG Group offers multiple products in forex, futures, bonds, indices, and cryptocurrencies. Its main advantage is its ability to be highly customizable and multilingual.

It is a leader in the market for financial services and a leader in the United States US and United Kingdom UK. eToro is an excellent forex trading platform, especially for beginners. Its copy trading option allows you to copy the positions of more experienced investors, making the experience much more fun. Both platforms offer educational tools and are free to download for Android users.

A good platform should have everything you need to trade successfully. Its tools should be user-friendly and allow you to set your leverage. You can also use different order types and leverage in your forex trading. This social trading feature is used by over , traders in countries and has two unique features. The first is Zulu Rank which ranks the individuals to consider copying.

Factors considered when ranking range from performance, stability and exposure. The second is Zulu Guard, which provides account protection that can step in to protect your capital.

IC Markets is the best Australian forex broker for those looking to trade forex or CFDs with MetaTrader 5. This was based on the low spreads, range of markets and fast trading environment offered. IC Markets is ASIC regulated AFSL and with a strong market share is ideal for beginner to advanced MT5 traders.

FxPro uses straight-through processing STP technology to execute your cTrader orders anonymously with no dealing desk NDD intervention. The main benefit of NDD interference is fast trade execution speeds with the majority of orders executed in The result is that the quotes shown by FxPro in almost all cases are the price the order is filled with a low percentage of slippage having almost an equal positive and negative impact.

Most cTrader traders are executed through the London LD5 Equinix Data centre with servers connected to tier 1 banks through Quotix. The resulting spreads for FxPro are not competitive for MT4 1. This makes them offer the best trading costs for cTrader only.

With 7, orders executed per second and co-location servers, traders benefit from the FxPro infrastructure. They are also regulated in South Africa by the FSCA with authorisation number , the Middle East Dubai and the Bahamas.

With so many regulated bodies, traders can choose the entity that matches where they are located or what conditions they wish to start trading under eg balance protection, leverage. FxPro offers instruments to be traded through the cTrader platform this includes over 70 forex pairs, the futures market, spot indices across the world, over stocks and global shares, spot metals and energies such from oil to gas.

Created by Spotware, cTrader is the third most popular forex software and is offered by a wide number of retail foreign exchange brokers. While no exact market share statistics have been published, below shows the popularity of the websites and app downloads of the three most popular platforms.

Our compare forex brokers platform chart below shows the difference between MT4 vs MT5 vs cTrader. It highlights that many consider cTrader the top forex trading platform with superior analytical and graphic objects of 65 and level II pricing. For automated trading , cTrader offers cAlgo which has a.

NET framework and C language which some programmers will be more familiar with than MLQ4 or MLQ5. The smaller market share of cTrader vs MetaTrader means that the online community is more niche, limiting the sharing of bots and the copy trading environment. The server for Spotware is located in the UK, compared to MetaTrader, which is based in the USA and can be an issue for accessing liquidity and trade execution speeds. FxPro has the best infrastructure with co-location servers for cTrader.

The results are fast execution speeds on average of Traders looking for cTrader should choose FxPro is regulated by the FCA in the UK and CySEC in Cyprus but is not regulated by ASIC Australia. Australian traders may therefore consider Pepperstone instead which also offered cTrader with similar features.

FXCM is the best NinjaTrader broker and also has the best mobile app through its Trading Station proprietary platform. Key features of FXCM Trading Station are:. In FXCM offers NinjaTrader 8 for forex trading and for Ireland and UK traders Spread Betting is also available. For both types of trading, the broker offers a risk-free demo account that includes full historical market data, access to third-party apps and indicators, and the ability to develop and test automated trading strategies.

Based out of the USA, NinjaTrader is an advanced charting forex software package created in Most forex traders using NinjaTrader are based in North America with the platform registered by the National Futures Association NFA. Hundreds of trading indicators are pre-configured with drawing tools available. Alerts can be configured for currency market movements and automated strategy programs are pre-configured. NinjaTrader is only offered by six foreign exchange brokers.

The community using the software is small with only 60, traders last year. NinjaTrader has no mobile app with only a Windows desktop version available. FXCM is the leading regulated broker offering both NinjaTrader and Trading Station, with the latter offering the most advanced mobile app for both iPhone, iPad and Android devices. Unlike most other forex trading software, the is web-based with no downloads required. There are customisable currency market scanners and advanced charting facilities.

For automated trading, the platform uses ProRealCode coding language. As outlined above, the technical analysis functionality of ProRealTime is the key strength of the trading software. The interface has a wide variety of charts and unlimited timeframes, with the ability to place trades based on trend lines across asset classes.

The platform was not designed for mobile trading with no trading apps available. For some brokers offering ProRealTime such as Interactive Brokers, the trading platform is limited to some regions with no access for Australian and USA residents.

Australian traders can only use the software in demo mode. The other issue is the fees some brokers charge from interactive fees to real-time data access fees.

There are two types of trading accounts. Our analysis found that IC Markets has the lowest spreads in this category. The second category is called a standard account and has no commissions. Our analysis shown below compares the average spreads of standard accounts and determined IG offered the lowest spreads overall. Please note that other fees apply when trading, including financing fees for overnight positions.

These financing fees will depend on the software platform chosen with IG. The broker is recommended for traders looking for the niche ProRealTime trading software but not for other mainstream forex platforms like MT4 where other brokers offer lower trading fees. When opening an eToro trading account, a demo account is automatically created. The demo account includes the research tools from eToro investors and industry experts sourced from financial institutions.

There are a variety of trading platform options from the web platform to mobile iOS app for iPad and iPhone devices. There is also an app for Android devices. eToro specialises in social trading and copy trading with a platform specifically designed for trading CFDs. The online broker was recommended for social traders based on the platform functionality, number of copy traders online, and depth of CFD trading options.

The most obvious advantage of the eToro trading platform is that the platform is specifically designed for social trading. Unlike other platforms which require you to integrate third-party software or an add-on extension, eToro provides all the social tools you need for social trading. In this sense, eToro could be described as the Facebook of social trading , where traders can discuss all things trading with each other and get valuable feedback.

The other notable advantage of the platform is the copy trading feature. This comes in two flavours, CopyTrader and CopyPortfolio. This is exceptionally useful for beginner traders or traders with little free time, as they can profit off the trades of other traders. Traders should understand how it works as it can help result in superior copy and trading decisions however it is complex to understand.

The other disadvantage of eToro is the specialist social trader platform that does not have as many technical indicators and graphical tools compared to specialist CFD platforms such as Next Generation by CMC Markets. eToro has millions of traders but more importantly, it has the most traders engaged in social trading.

Below shows how this works with traders rewarded based on the size and the number of other traders copying their positions.

Other key social trading features include live newsfeeds, allowing traders to discuss strategies and share strategies. In , 47 currency pairs can be traded with eToro. Other key financial markets include 17 cryptocurrencies including bitcoin , EFTs, 13 commodities and 13 indices. The biggest financial market unique to eToro is their share trading ability to trade more stocks in most global markets as a contract for difference.

In Australia, eToro trades as eToro AUS Capital Ltd and it is ASIC regulated with the Australian Financial Services Licence AFSL number eToro is recommended for social and copy trading based on market share. Plus is a CFD provider that offers a large range of financial instruments for trading. The company offers its proprietary trading platform, designed specifically to make monitoring and trading multiple instruments at one time as easy as possible. Plus trading platform is well known for its ease of use when trading its large range of financial products.

The main screen is designed to display multiple CFDs with real-time quotes and only the most necessary information through an exceptionally easy-to-view and organised layout.

This helps users as it keeps things simple when trading, there is no need to switch screens to implement strategies or perform orders. Our top picks for novice traders include several other brokers, but Plus has the best risk management tools available through the platform. This includes guaranteed stops, which are not available with most brokers. The Plus trading platform has several limitations. The software does not offer algorithmic trading, meaning traders looking for trading automation may find the platform does not suit their needs.

Traders looking for advanced analysis tools may also feel restricted as the Plus trading platform offers just 15 indicators and 10 timeframes and the level of platform customisation is limited. The other main issue with the Plus trading platform is that it is proprietary with a closed ecosystem.

This limits the level of customisation one can do either through creating their custom signals with their code, adding extensions or plug-ins from 3rd part providers to increase the number of technical indicators or graphical tools available and switching platforms should you wish to change brokers in the future. Plus offers the following features for novice traders:. One of the key features of the Plus trading platform is the risk management tools that are not often offered by other brokers.

Guaranteed stop-loss orders are also available, allowing you to set a maximum potential loss for trades. While Plus is a good platform if you are new to trading, but we do not recommend the platform if you intend to use it to learn to trade.

For this, we recommend their demo account as you can practice with virtual cash before using your own money to invest. Leverage instruments involve a high level of risk, so we recommend exercising caution before you trade. Plus is the trading name globally but a number of subsidiaries exist worldwide from PlusAU in Australia AFSL , PlusUK Ltd in the United Kingdom FRN , PlusCY in Cyprus Licence No.

City Index perfectly integrates its price engine software to the TradingView interface, making it possible for forex traders to trade directly from TradingView charts with the following advantages:. City Index engineered its Web Trader platform to run with protective risk management features that come in the form of:. Negative balance protection is an automatic stop-loss feature that ensures clients do not lose more than the account balance and are indebted to their broker. When a debit account balance occurs because of unforeseeable market events, the negative balance protection policy will restore your trading account balance to zero.

Additionally, the City Index TradingView platform is equipped with a guaranteed stop-loss order, which for an extra fee that is built into the spread warrants that your SL will be triggered at the specified price. Please note that CFDs remain complex instruments and traders show learn about the risks even with these features. Our team of experts also weighed into our proprietary scoring system the wide range of order types offered by City Index, which includes:.

City Index clients can access a plethora of smart trading tools that can help them find new trading opportunities. City Index web-based charts are powered by TradingView but are enhanced by the in-house technology built by the team of experts at this brokerage trading firm.

Overall, the City Index TradingView platform has professional capabilities and trading tools that can satisfy the needs of the most sophisticated traders. TradingView is supported by most popular browsers, including Chrome, Firefox, Safari, Internet Explorer 11 and Microsoft Edge. You can trade on any device and operating system anywhere directly from your browser without the need to install it on your PC. Advantages of choosing CMC Markets include:. The CMC Markets Next Generation trading platform comes with a number of features that make them stand out in a competitive market.

Good usability is available than to its layout wizard which allows you to choose between floating or fixed windows, decide on 5 types of layouts and choose what colours you prefer. This is a good thing as the platform comes with over 35 drawing tools, technical indicators, and 70 chart patterns for 12 types of charts so you would want a layout that works for you. When building your charts, you can access 20 years of price history and set your chart intervals anywhere from 1 second to 1 month.

In addition to customisable layouts and charts, the platform comes with a client sentiment tracker and a pattern recognition scanner that can scan over products every 15 minutes and then send you alerts automatically. One last feature worth noting is the risk management tools A guaranteed stop loss order and boundary order are available for a small premium to provide an element of protection when markets are volatile. While CMC Markets is a market maker, they operate more like a no dealing desk broker.

The broker crunches million prices every day from 14 feeds so the broker is constantly looking for the best quotes at all times. CMC Markets have a fill rate of Lastly, unlike some market makers that may reject your trades when conditions are unfavourable to them, CMC Markets automate this process and never intervene in your orders.

With 10, products to trade, CMC Markets has one of the largest range of products for trade of all brokers. CMC Markets keeps things simple, only one type of trading account is available. Forex pairs start from 0. TradeStation is an online charting system and social network for traders to converse with each other, share ideas and trade scripts.

TradeView offers superior charting for a large range of CFDs. Traders can choose from 10 HTML5 chart types with up to 8 charts per layout and over 50 drawing tools to help analyse trends and identify opportunities.

TradeStation also has a stock screener based on different metrics from over search fields. A similar feature is offered by xStation offered by XTB. TradeStation is not a true trading platform. You cannot buy and sell through it, to do this you will need a broker that integrates TradeStation into its platform. It also does not offer Level 2 data regardless if traders subscribe to a Premium subscription. While the software offers a free subscription to get some features, a paid subscription will be needed to get the best features such as a screen with multiple charts and customer services.

OANDA ranks as the best US-based forex broker offering TradeStation which they call OANDA Trade Web, OANDA Trade Desktop and ONADA Trade Mobile and Table app. OANDA is recommended for their:. Oanda offers its clients access to Autochartist, a powerful third-party tool that uses automatic chart pattern recognition software. All Oanda Trade clients can gain free of charge access to the Autochartist software.

Some Autochartist features and advantages are listed below:. Make better trading decisions with indicators, overlays and tools, including AutoChartist. Additionally, OANDA clients can have access to an economic calendar integrated directly with the TradeStation platform.

If your trading relies on news activity, you can get real-time breaking news along with market commentaries from industry-leading FX experts.

At OANDA, forex traders can deposit and withdraw money through 4 supported payment methods including:. Additionally, OANDA supports not only the major currencies for deposits which include USD, AUD, GBP and EUR, but it also supports minor currencies like the CAD, HKD, JPY, SGD and CHF. In total, OANDA customers can use 9 different account base currencies along with their favourite banking method. OANDA was found to be the best forex broker for the TradeStation platform powered by its advanced price technology.

For a limited period 30 days traders can use the TradeStation demo account to test the financial services offered by Oanda. Most regulated brokers will offer MT4 and MT5 while cTrader is niche software only provided by a handful of CFD specialist providers. A trader should base their forex trading platform based on their experience level and needs with the best software for:.

While the above platform made our list of the best forex trading platforms, there are other very good trading platforms you could consider. IG Markets in addition to ProRealTime also have their in-house developed trading platforms IG trading platform and L2 Dealer which is designed for DMA trading. AvaTrade makes three trading platforms for mobile trading. AvaTradeGO for trading all products , AvaSocial for Social Trading and AvaOption for Options Trading. XTB have xStaion 5 and Station Mobile.

com also have a range of trading platforms. The best forex platform is MetaTrader 4 based on the popularity of the trading software, reliability and automated trader facilities. The best forex broker offering MT4 is Pepperstone, which has some of the lowest spreads in , the fastest execution speeds and good trading customer service.

Most brokers offer variable spreads, so it is important to choose the right broker for fixed spreads. Brokers that offer Fixed spreads include AvaTrade, easyMarkets, FxPro and OctaFX.

You can find out more about these brokers our best Fixed Spread Brokers page. MetaTrader 4 is the most popular software for trading forex but MetaTrader 5 is quickly gaining market share due to its additional CFD functionality. This makes it easier to trade gold, indices, shares and even crypto. We use cookies to ensure you get the best experience on our website.

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Home » Best Forex Trading Platform. Best Forex Trading Platform Guide The forex trading software is the most critical component traders need to consider when selecting a forex broker. Written by Justin Grossbard Written by Justin Grossbard Co Founder. Edited by Riley Adams Edited by Riley Adams Senior Trading Editor. Reviewed by Justin Hertzberg Reviewed by Justin Hertzberg Forest Park FX President. Fact Checked We double-check broker fee details each month which is made possible through partner paid advertising.

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By performing a simple Google search for this purpose, you will be presented with thousands of potential suitors. As such, the process involved in finding the best forex trading platform for you can be time-consuming. After all, you need to explore things like supported currency pairs, commissions, minimum account balances, and regulation.

In this guide, we review the best forex trading platforms in We also walk you through the steps required to start buying and selling currencies today at a top-rated forex trading platform! You can find a full review of each provider by scrolling down!

Featured Broker Visit Site CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Rating 5. Spread 1 pip 0. eToro — Over Best Forex Trading Platform eToro is now one of the largest forex brokers in the online space — with more than 17 million clients on its books. The main attraction with eToro is that the platform is extremely easy to use.

And of course — the platform allows you to trade forex without paying a single cent in commission. Instead, this top-rated forex trading platform makes its money through the spread. This covers a huge number of majors and minors, as well as a selection of exotic currencies like the South African rand and Hungarian forint.

You can trade all supported currency pairs with leverage at eToro — with most users being able to access on majors and on minors and exotics.

You should consider whether you can afford to take the high risk of losing your money. What we really like about eToro is that it is also suitable for those of you that have never previously traded forex and want to open a micro currency account. In terms of the fundamentals, eToro is regulated by the FCA, CySEC, and ASIC. It keeps client funds in segregated bank accounts and verifies the identity of all trades. As such, you can trade forex at eToro in a safe and sound environment. Finally, we should note that on top of forex, eToro also supports commission-free stocks, ETFs , indices, cryptocurrencies , and commodities.

Although eToro makes our number one spot as the best forex trading platform of - it doesn't allow US residents to buy and sell currencies. As such, if you're an American and looking for the best forex site in the space right now - look no further than Forex. As the name suggests, this provider is a specialist forex trading platform. By going through the motions of opening an account and making a deposit - you will then have unfettered access to over 80 currency pairs.

This includes a huge variety of majors, minors, and exotics. In particular, Forex. com is a great platform to consider if you want to access emerging currencies. In terms of fees, this popular forex trading platform offers several account types to choose from. For example, if you're a casual forex trader you might consider opting for an account that offers commission-free positions.

At the other end of the scale, professional forex traders might opt for the STP Pro account. This allows you to trade from just 0. Crucially, we like the fact that Forex. com allows you to choose a pricing structure that meets your trading profile. com gives you access to its own native trading platform - which can access online or via the provider's mobile app, including advanced charting. Alternatively, you can also access your Forex.

com account via the third-party platform MetaTrader 4 MT4 , where you can perform backtesting. The platform is also a proponent of forex EAs, as it offers 20 free forex trading strategies that you can easily install into your MT4 dashboard. VantageFX is our top recommended forex trading platform. This CFD trading platform first launched in Australia, but it's since expanded around the globe. The brokerage has left its mark with a range of asset classes, very low fees, and excellent trading tools.

VantageFX is solely a CFD trading platform. They provide every investment opportunity from forex trading to cryptocurrencies, commodities, indices, and stocks.

They are a brokerage geared towards every type of investor. Whether you're new or experienced in trading, there is something to interest you here, with competitively low spreads and a zero commission account option.

A big part of why we recommend VantageFX is its high leverage forex trading. You can trade major forex pairs on margin of up to VantageFX offers a variety of trading platforms, including its own web trader and mobile app. The broker also integrates with the highly popular MetaTrader 4 and MetaTrader 5 trading platforms. So, you can trade with forex signals or create custom technical indicators to suit your needs.

Notably, VantageFX also enables social trading with Myfxbook, ZuluTrade, and Duplitrade. VantageFX is regulated by the UK Financial Conduct Authority FCA and the Australian Securities and Investment Commission ASIC. If you a novice in the world of forex trading then you should choose a platform the supports low minimum deposits.

In doing so, you can test the waters out slowly without risking too much capital. Nevertheless, FXCM is home to a great range of forex pairs - all of which can be traded commission-free. Spreads are particularly competitive when trading major pairs. FXCM is also a great option if you want access to leverage.

In fact, this top-rated forex trading platform offers leverage of up to Your limits will, however, also be dictated by your location and prior trading knowledge. For example, UK and European traders will be capped to In terms of the forex trading platform itself, FXCM offers full support for MT4 and ZuluTrade.

Or, you might decide to use the provider's native FXCM Trading Station - with is very popular with newbies. Finally, FXCM has been active in the forex trading scene for over two decades and is regulated by the FCA. There is no guarantee you will make money with this provider.

TD Ameritrade is arguably one of the most reputable brokerage firms globally. Established more than four decades ago, the platform is typically known for offering a huge library of stocks, ETFs, and investment funds.

However, TD Ameritrade is also behind a fully-fledged forex trading facility. The platform supports a wide variety of tradable currencies, with pairs including the likes of USD, CAD, GBP, HKD, NZD, JPY, NOK, and more. All supported pairs can be traded 23 hours per day - subsequently ensuring that the platform serves its global client base. We should note that the TD Ameritrade 'Thinkorswim' platform is best suited for experienced forex traders.

This is because it comes packed with professional-level tools and features that to the untrained eye - might come across as somewhat intimidating.

When it comes to forex trading fees, TD Ameritrade builds all commissions into the spread. This means that you only need to look out for the gap between the bid and ask of your chosen FX pair.

In some respect, leverage is a crucial tool to have at your disposal when trading forex online. After all, the day-to-day gains that you can make by buying and selling currency pairs are going to be somewhat modest.

As such, if you have access to a small amount of capital, it might be best to use a platform that offers high levels of leverage.

As always, you might be offered lower limits - especially if you are based in Europe and you're not deemed to be a professional trader. Nevertheless, we should note IG is much more than just a high leverage broker. On the contrary, this hugely popular forex trading platform gives you access to over 80 currency pairs. Fees are really attractive too, as spreads on major pairs start from just 0.

There are no commissions charged in the IG forex trading department, either. Additionally, IG is also compatible with MT4. If you haven't previously heard of IG and are concerned about safety - you shouldn't be. This brokerage firm has been operational since the s and it is now publicly listed on the London Stock Exchange.

And most importantly - it is fully regulated in several jurisdictions. FXTM is a popular forex trading platform that offers full support for MT4. This means that once you open an account and make a deposit, you can place all buy and sell orders via the MT4 desktop software.

As a seasoned trader, you'll know that MT4 provides heaps of technical indicators and is compatible with automated forex EAs. FXTM itself offers a huge number of forex pairs and there are several account types on offer. Plus, this FXTM account allows you to trade forex with micro amounts.

This is perfect if you are trading forex online for the first time. In terms of forex trading fees, this will depend on your chosen account type. For example, some accounts offer zero commissions and wider spreads, while others allow you to trade currency pairs at 0 pips.

If you're a newbie, FXTM offers a good selection of educational and research tools. This will allow you to become a better forex trader over the course of time.

If you are looking to trade several different asset classes other than just forex, XTB might be a good option to consider. The online trading platform is particularly popular in Mainland Europe - as XTB's parent company is listed on the Warsaw Stock Exchange. Nevertheless, the forex trading department at XTB is highly extensive, with dozens of pairs to choose from.

Because transactions in retail forex market are made on electronic trading platforms, it is very important to choose the most suitable software for your trading experience and style. After all, you will be risking your hard-earned money - so you need to ensure the provider is regulated by a reputable body. MetaTrader 4 has established itself as the industry standard, providing a secure trading environment with fast execution and no requotes. Review Of eToro. Like other newer brokers, Trading. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. However, there is not much to differentiate it from MT4 which is one of the reasons behind slow migration.

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