5 Top Forex Trading Platforms Reviewed
The foreign exchange market has evolved as a giant in the financial world due to its liquidity, accessibility, and most importantly, global nature among a host of other aspects. Today, you can buy or sell currency from the comfort of your home for turning a profit since there is no existence of physical exchange for Forex trading, unlike the other markets. When you are setting out to lay your hands in Forex trading it can be difficult for you to determine the best trading platforms available online.
SELECTING THE BEST FOREX TRADING PLATFORM
There are several things to factor in when selecting the best trading platform. Needless to say, a user-friendly interface coupled with ease of usage are must-haves but they can be very subjective.
You must take into account the various technical indicators, availability along with a variety of order types. The ultimate decision of which Forex platform you select will be dependent on a coalesce of both subjective as well as objective aspects. Let’s take a look at the TOP FOREX TRADING PLATFORMS and evaluate the various services they offer to the traders.
This is a semi-automated Forex trading platform that’s hailed as a top-performing trading signal host. Learn2Trade can also help you in trading with stocks, commodities, indices, and cryptocurrencies. With these signals, you can precisely learn what you must order at any trading platform.
Even though it is not truly a robotic platform, you will never have to perform any analysis or research by yourself. This is perhaps the better alternative than deploying a robot to trade with your money. There can be a chance that the robot is losing out capital in the long run. You can have complete control over whether or not you want to invest your capital in the respective suggestion.
Even though there are several signal providers for Forex trading, Learn2Trade also offers a one-month money-back guarantee to every new subscriber of their premium plan. As a result, you can assess the signals of the platform through a demo account without putting your trading funds at risk.
It’s a US-based platform although the US residents cannot trade in CFDs and you thus you won’t find it when using any US-based broker. You can find a wide range I’d technical indicators for carrying out a sophisticated analysis. You also have the liberty to important your choicest indicators with the aid of the strategy tester. This software is free to use which implies that you can create one demo account for understanding its level of functionality.
With this platform, you can also create distinct windows for the charts from the main body of the platform. This means it will not occupy the whole screen or you may also downsize the window of the platform that you are currently using. The trading community for this platform has a moderate size and you can use some of the pre-configured strategies that come loaded for ease of use.
This is one of the TOP FOREX TRADING PLATFORMS that was developed by the team behind Markets.com. Even though this platform is yet to be explored by millions of traders worldwide, it deserves a special mention for the high standards and sophisticated functionality. There are 88 varieties of technical indicators as well as drawing tools. Moreover, you get a highly customizable user interface with 67 types of currency pairs.
The fact that they do not offer any automation on the trading can be a downside if you are looking for robotic platforms. But the strong financial news and analysis functionality make the platform a cut above the rest. You can expect to get access to real-time data and events news. Another advantage is that Markets is web-based and you can directly access it from your smartphone.
The platform was originally launched two decades back and according to a sector of traders, it offers the most brilliant selection of assets and currency with 120 pairs. These also include cryptos and precious metals. If you are a newbie who has just started out, there is a factor that you should be watchful of. You won’t get access to live data unless you start active trading with a minimum deposit of 3k for Forex. The service charges are based on the variety of facilities you opt for.
It also comes with various cross-platform applications based on the plan you have signed up for as well as the level of activeness you maintain on the platform. The interface has a built-in module that indicates you can have only a single chart open. It also gives you access to one-click trading directly from the chart.
Last but not the least, CTrader is also among the top Forex trading platforms with cross-platform connectivity. You can also access the browser version without the need to download any software. The platform was developed in 2001 and has recently become the greatest contender for bagging a top position from the Meta Quotes MT4.
With CTrader, you can have a broad array of technical indicators along with a chance of back-testing strategies. The platform also employs popular programming languages like C#. It means that using the platform will be a lot easier and you can also come across coders and programmers. But the community of coders is quite small in this programming language.
Another important feature is that it allows back-testing along with 54 variants of time frames that range from ticks to monthly to yearly plans. According to some, you can have the largest variety of drawing tools and technical indicators with CTrader. It also offers a depth of market so that you can check the orders that are queued as well as their price levels.
THE BOTTOM LINE
There are several benefits of Forex trading as it is more egalitarian and versatile compared to other markets. And now that you are equipped with the knowledge of the TOP FOREX TRADING PLATFORMS, investing in this foreign currency exchange market is surely going to be a financially rewarding practice.