When you’re a forex trader, there will come a time when you’ll need to trade from somewhere other than your computer screen. Traders who like to keep their trading platforms as liquid as possible will benefit from using an online forex trading platform.
This allows traders to trade from anywhere without having to install anything on their PC or phone. For those who want the best forex currency trading platform, we have compiled this article with information on the best Forex trading platforms available today.
We cover everything from what they are, how they work, the pros and cons of each, and more. Let’s take a look…
What is a Forex Trading Platform?
Simply put, a forex trading platform is a software program that can be used by forex traders to manage their forex accounts, track their assets and make trades. Forex trading platforms provide numerous different trading options, like live forex trading and automated forex trading.
They can also be used to manage multiple accounts at the same time. Forex trading platforms provide a variety of functionalities that can make trading forex easier. They can be used to track your investments, automatically execute trades and/or manage multiple trading accounts.
Which Is the Best Forex Trading Platform?
This is one of the most important considerations when looking for a forex trading platform. This is because it will determine if you’ll be able to enjoy the benefits of using a forex trading platform, such as trading from anywhere and having your trading accounts managed for you.
We’ve created this forex platform comparison chart to help you determine which forex trading platform is best for you. The chart lists the most popular forex trading platforms, including their basic information, key features, pros and cons, and more.
For each platform, we’ve also added an explanation of what each feature does, along with some examples of how each forex trading platform might be used in real-life situations. This should help you decide which forex trading platform is right for you.
Metatrader
If you’re looking for a forex trading platform that can be used online to trade forex, Metatrader 4 is the best forex trading platform available. Metatrader 4 is a popular trading platform used by forex traders and is widely used by forex brokers.
You can trade forex, stocks, commodities, and options on this forex trading platform. Metatrader 4 is an easy-to-use platform that can be used by traders of all experience levels. It supports many different financial instruments and has a drag-and-drop function for creating trading strategies.
Metatrader 4 can be used on multiple devices, allowing you to trade from anywhere. It also allows you to manage a host of different trading commodities, like forex, stocks, commodities, and options.
eToro
While forex trading on a forex trading platform may be great for some, many forex traders prefer to trade on the foreign exchange (forex) broker-run trading platforms. One of the best forex broker-run trading platforms is eToro, which has been a very popular trading platform for years.
eToro is a forex broker-run trading platform that is powered by an online investment bank. On the eToro platform, traders can invest in a broad range of asset classes including stocks, funds, commodities, and foreign exchange.
Traders can choose from a large number of funding and trading options, including cash deposits and withdrawals, credit card deposits, debit card deposits, virtual currency trading, and more.
FXCM (formerly ThinkMarket)
One of the best online forex trading platforms is FXCM. FXCM has been around since 2005 and is a popular forex trading platform used by forex traders.
FXCM is an online forex broker-run trading platform that allows traders to trade multiple asset classes, including forex, stocks, commodities, and more. FXCM is a fairly easy-to-use forex trading platform that is suitable for both new and experienced traders.
The trading platform supports automated trading, MetaTrader4, forex charting, and more. The FXCM trading platform also provides several useful trading tools, including a Forex trading journal, charting, and more.
IG
If you’re looking for the best online forex trading platform, then IG may be what you’re looking for. IG is a broker-run forex trading platform that has been around since 2012.
IG is a forex broker-run trading platform that can be used by traders of all experience levels. The IG trading platform supports a host of trading tools, including indicators, charts, and more.
The IG trading platform also provides traders with a host of useful trading tools, such as social trading tools and a forex trading journal.
TradeStation
If you’re looking for the best online forex trading platform, then TradeStation is worth considering. TradeStation is a forex broker-run trading platform that has been around since the late 1980s.
TradeStation is a forex broker-run trading platform that can be used by traders of all experience levels. The trading platform supports a host of trading instruments, including forex, stocks, and commodities.
The platform provides traders with a host of useful trading tools, such as technical analysis tools and a forex trading journal. The trading platform also supports multiple brokers, including E*TRADE and TD Ameritrade.
Conclusion
When you’re looking for the best forex trading platform, it’s important to consider what you want from your trading platform. If you want to trade from anywhere and need your trading platform to be comfortable for day-trading as well as for day-long trading, then Metatrader 4 is likely the best forex trading platform for you.
If you want a forex trading platform that is easy to use and offers a wide variety of functionalities, then the best forex trading platform for you may be eToro.
