Best Forex Trading Platforms

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Trading Experience
Trading Conditions
Account Types
Trading Platforms
Regulators
Minimum Deposit
USD 10
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • Indicies
  • Metals
  • Equities
TYPE OF BROKER

ECN/STP

REGULATED BY
TRADING PLATFORMS
  • MetaTrader4
  • MetaTrader5
  • WebTrader
DEPOSIT METHODS
    Bank Transfer, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay
Trading Conditions
  • Max. Leverage : Flexible
  • Min. Spread : 0.1 pips
  • Currency Pairs : 59
Account Spread From Commission Execution Min. Deposit
Cent Account 1.5 pips None Instant USD 10 Account Details
Standard Account 1.3 pips None Instant USD 100 Account Details
ECN Zero Account 1.5 pips None Market USD 200 Account Details
ECN Account 0.1 pips $2.00 Market USD 500 Account Details
FXTM Pro Account 0.0 pips None Market USD 25000 Account Details
Minimum Deposit
USD 5
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • Metals
TYPE OF BROKER

Market Maker & ECN

REGULATED BY
TRADING PLATFORMS
  • MetaTrader4
  • MetaTrader5
DEPOSIT METHODS
    Bank Transfer, Visa, Mastercard, Maestro, Skrill, Neteller, WebMoney, Bitcoin, VLOAD
Trading Conditions
  • Max. Leverage : 1000:1
  • Min. Spread : 0.4 pips
  • Currency Pairs : 61
Account Spread From Commission Execution Min. Deposit
Mirco Account 1.7 pips None Instant USD 5 Account Details
Standard Account 1.2 pips None Instant USD 100 Account Details
ECN Account 0.4 pips $1.50 Market USD 500 Account Details
Pro Account 0.4 pips None Market USD 25000 Account Details
Minimum Deposit
USD 200
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • Indicies
  • Metals
  • Energies
TYPE OF BROKER

ECN/STP

REGULATED BY
TRADING PLATFORMS
  • MetaTrader4
  • MetaTrader5
  • cTrader
DEPOSIT METHODS
    Bank Transfer, Visa, Mastercard, Skrill, Paypal, Unionpay
Trading Conditions
  • Max. Leverage : 30:1
  • Min. Spread : Variable pips
  • Currency Pairs : 80+
Account Spread From Commission Execution Min. Deposit
Razor 0.0 pips AUD$ 7 ECN USD 200 Account Details
Standard 1.0 pips None ECN USD 200 Account Details
Swap-free 1.0 pips None ECN USD 200 Account Details
Minimum Deposit
USD 5
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • Indicies
  • Metals
  • Equities
  • Energies
  • Bonds
TYPE OF BROKER

ECN/STP

REGULATED BY
TRADING PLATFORMS
  • MetaTrader4
  • WebTrader
DEPOSIT METHODS
    Bank Transfer, Visa, Mastercard, Skrill, Neteller, Bitcoin, Unionpay
Trading Conditions
  • Max. Leverage : 30:1
  • Min. Spread : 0.0 pips
  • Currency Pairs : 51
Account Spread From Commission Execution Min. Deposit
Islamic 1.0 pips None Market USD 5 Account Details
Micro 1.0 pips None Market USD 5 Account Details
Premium 1.0 pips None Market USD 100 Account Details
Auto 1.0 pips None Market USD 200 Account Details
Zero 0.0 pips $3.00 Market USD 200 Account Details
Minimum Deposit
USD 200
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • Indicies
  • Equities
TYPE OF BROKER

Market Maker

REGULATED BY
TRADING PLATFORMS
  • Proprietary
DEPOSIT METHODS
    Visa, Mastercard, Neteller, Unionpay
Trading Conditions
  • Max. Leverage : 30:1
  • Min. Spread : 2.0 pips
  • Currency Pairs : 47
Account Spread From Commission Execution Min. Deposit
Professional 1 pip pips None Market EUR 200 Account Details
Standard 1 pip pips None Market USD 200 Account Details
Minimum Deposit
USD 5
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • Indicies
  • Metals
  • Equities
  • Energies
TYPE OF BROKER

Market Maker

REGULATED BY
TRADING PLATFORMS
  • MetaTrader4
  • MetaTrader5
  • WebTrader
DEPOSIT METHODS
    Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay
Trading Conditions
  • Max. Leverage : 30:1
  • Min. Spread : 0.0 pips
  • Currency Pairs : 55+
Account Spread From Commission Execution Min. Deposit
Micro 1.0 pips None Instant USD 5 Account Details
Standard 1.0 pips None Instant USD 5 Account Details
XM Ultra Low 0.6 pips None Instant USD 50 Account Details
XM Zero 0.6 pips None Instant USD 100 Account Details
Minimum Deposit
USD 100
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • Metals
  • Equities
  • Energies
  • ETFs
  • Bonds
  • Blends
TYPE OF BROKER

Market Maker

REGULATED BY
TRADING PLATFORMS
  • MetaTrader4
  • MetaTrader5
  • WebTrader
DEPOSIT METHODS
    Bank Transfer, Visa, Mastercard, Maestro, Skrill, Neteller, Paypal
Trading Conditions
  • Max. Leverage : 30:1
  • Min. Spread : 0.9 pips
  • Currency Pairs : 50+
Account Spread From Commission Execution Min. Deposit
LIve 0.9 pips None Market ZAR 1000 Account Details
Minimum Deposit
USD 100
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • Indicies
  • Metals
  • Vanilla Options
TYPE OF BROKER

Market Maker

REGULATED BY
TRADING PLATFORMS
  • MetaTrader4
  • WebTrader
DEPOSIT METHODS
    Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Astropay
Trading Conditions
  • Max. Leverage : 30:1
  • Min. Spread : 1.8 pips
  • Currency Pairs : 97
Account Spread From Commission Execution Min. Deposit
Islamic 3 pips None Instant USD 100 Account Details
Standard 3 pips None Instant EUR 100 Account Details
Premium 2.5 pips None Instant USD 1000 Account Details
VIP 1.8 pips None Instant USD 2500 Account Details
Super VIP 1.2 pips None Instant USD 50000 Account Details
Minimum Deposit
USD 5
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • Indicies
  • Equities
  • Spread Betting
TYPE OF BROKER

Market Maker

REGULATED BY
TRADING PLATFORMS
  • MetaTrader4
  • WebTrader
  • Sirix
DEPOSIT METHODS
    Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller
Trading Conditions
  • Max. Leverage : 1000:1
  • Min. Spread : 0.0 pips
  • Currency Pairs : 53
Account Spread From Commission Execution Min. Deposit
ECN Zero Account 0.0 pips $10.00 Instant USD 5 Account Details
Standard Fixed 1.8 pips None Instant USD 5 Account Details
Standard Variable 1.3 pips None Instant USD 5 Account Details
VIP Varibale 0.6 pips None Instant USD 5000 Account Details
Minimum Deposit
USD 100
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • Indicies
  • Equities
  • ETFs
TYPE OF BROKER

Market Maker

REGULATED BY
TRADING PLATFORMS
  • MetaTrader4
  • WebTrader
DEPOSIT METHODS
    POLi, Visa, Mastercard, Skrill, Neteller, Paypal, Bank Transfer
Trading Conditions
  • Max. Leverage : 30:1
  • Min. Spread : 0.7 pips
  • Currency Pairs : 50+
Account Spread From Commission Execution Min. Deposit
Islamic 1.3 pips None Instant USD 100 Account Details
Professional 1.3 pips None Instant USD 100 Account Details
Retail 1.3 pips None Instant USD 100 Account Details
Minimum Deposit
USD 1
TRADING INSTRUMENTS
  • Commodities
  • Cryptocurrencies
  • Forex
  • Metals
  • Equities
TYPE OF BROKER

ECN/STP

REGULATED BY
TRADING PLATFORMS
  • MetaTrader4
  • MetaTrader5
  • WebTrader
DEPOSIT METHODS
    Visa, Neteller, Unionpay
Trading Conditions
  • Max. Leverage : 30:1
  • Min. Spread : 0.0 pips
  • Currency Pairs : 37
Account Spread From Commission Execution Min. Deposit
Cent 1.0 pips None STP USD 1 Account Details
Islamic 0.0 pips None STP USD 1 Account Details
Micro 3.0 pips None STP USD 5 Account Details
Standard 0.5 pips None STP USD 100 Account Details
Zero Spread 0.0 pips $20 STP USD 500 Account Details
ECN 0.0 pips None ECN USD 1000 Account Details

What is a Forex trading platform?

A trading platform serves as a connection between traders and brokers. In addition to executing trades, it shows charts and analysis, which help in doing the analysis needed for trading.

In choosing a platform, find one that provides a nice variety of technical tools that carry out a meticulous analysis of the market, help find trading opportunities, and make trading less complicated.

Some platforms offer a social trading component or add-ons that can be purchased.  This allows traders to copy the trades of others on the network.  Other platforms will allow traders to set up algorithmic trading.  Be cautioned that automated trading strategies come with a potential for a significant loss, so an experienced trader needs to have a constant watch on trading activity if this is going to be used profitably.

The advantages of choosing a platform first

  • If you have a connection to a platform already – examples would be that they used it before or recommended by a friend/trading coach.
  • If you want the flexibility of movement between brokers in the future.
  • If you plan on having accounts with multiple brokers and would prefer a single piece of software.

Here are a few suggestions that might help beginners to find what they need from a platform to get started in the Forex market.

Are Forex platforms free?

The vast majority of trading platforms are free of charge.  Those that come with a small fee are very rare and are limited to institutional platforms. Cost should not be your biggest concern in choosing a platform.

What are the best trading platforms?

With a few exceptions, the best trading platforms are those which are supported by multiple brokers and are maintained independently.

MetaTrader

MetaTrader by MetaQuotes is by far the industry standard and is thus an excellent option for traders to consider.  It started out and continues to be, an independent platform that is loved by traders and quickly gained popularity because of the third-party add-ons and automated trading is enabled – in the form of scripts called expert advisors (EAs).  In 2005 with the launch of MetaTrader4, that brokers started offering the possibility of trading on the MetaQuotes platform and their position as the market leader was confirmed.

The brokers often give support for the MetaTrader products, so new traders with questions about how it can be used should contact customer service.  Even with the subsequent launch of MetaTrader 5 (MT5) with additional functionality, MT4 remains to be the trader’s favourite.

Algorithmic trading and the possibility of using EAs is still one of the main draws to the MT4/MT5 product.  To write EAs, you need to be a programmer in the MQL5 programming language, but there is a community store where you can buy EAs should you wish to include them in your trading strategy.  They can be found here:

Top MT4 brokers

Broker Min. Deposit Min. Spread
FXTM USD 10 0.1 pips Visit Website
Read Review
Alpari USD 5 0.4 pips Visit Website
Read Review
HotForex USD 5 0.0 pips Visit Website
Read Review
XM USD 5 0.0 pips Visit Website
Read Review
AvaTrade USD 100 0.7 pips Visit Website
Read Review

cTrader

cTrader by Spotware may not be the market leader, but it is another well known independent trading tool launched in 2010, that I would consider to more beginner-friendly than their MetaTrader competitor.

At the time that cTrader launched, all that existed in the market was poor quality broker trading platforms and MetaTrader 4. MetaTrader at the time was not intuitive (and is still not), and the user interface was not appealing and outdated.

With the Trader First approach, the cTrader product suite broke into the market with a promise of creating a trading tool that was easier to use and delivered better features.  cTrader is far superior to MetaTrader with advanced charting and order control.

If you are looking for a platform that looks more modern, then cTrader is your choice.  This choice will not give you the same possibility of changing between brokers with the same software as would be more possible with MetaTrader because there are fewer brokers who offer this software choice, and the community using it is smaller and thus less able to provide help with creating EAs or providing support in the forums.

cTrader is not as famous as MetaTrader which I think this is primarily due to the origins of the product – MetaTrader was once the single option and the community built and supported it, whereas cTrader came in as a commercial product trying to succeed where MetaTrader has failed.  So don’t be turned off by the lower adoption rate as cTrader has its fans, myself included, that feel it offers a superior trading experience to the alternatives.

Beginners who want a dependable software, and want to trade with a specific broker that supports it should choose cTrader over MetaTrader.  cTrader his is a comprehensive tool for new traders who wish to have a platform that looks current and is less complicated to set up.

Top cTrader Brokers

Broker Min. Deposit Min. Spread
Pepperstone USD 200 Variable pips Visit Website
Read Review

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.