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. By continuing to browse you accept our use of cookies. Brokers By Country Australian Forex Brokers UK Forex Brokers European Forex Brokers NZ Forex Brokers Canadian Forex Brokers US Forex Brokers Singapore Forex Brokers UAE Forex Brokers.

Lowest Spread Forex Brokers Lowest Commission Brokers High Leverage Forex Brokers Islamic Forex Brokers Crypto CFD Brokers Forex Demo Account ASIC Regulated Brokers CySEC Regulated Brokers. MetaTrader 4 Brokers MetaTrader 5 Brokers Spread Betting Platforms UK CFD Trading Platforms Automated Trading Software Scalping Trading Software Beginner Forex Trading Platforms Micro Currency Platforms.

Pepperstone Review IC Markets Review FP Markets Review CMC Markets Plus Review eToro Review IG Review FXCM Review. 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.

Learn more this here. Best Forex Trading Platforms The top 10 forex brokers in Australia based on forex trading platforms are: Pepperstone - Best MetaTrader 4 forex broker.

IC Markets - Best MetaTrader 5 CFD broker. eToro - Top social and copy trading platform. Plus - Great forex platform for beginner traders. CMC Markets - Good share and forex trading platform.

FXCM - Great forex trading app with NinjaTrader. OANDA - Top TradeStation software platform. IG - Largest forex broker with ProRealTime.

FxPro - Best cTrader forex broker for scalping. City Index - Good eSignal charting software. Visit Site. Our Rating. Review Of Pepperstone. Review Of IC Markets. CMC Markets Review. Review Of FXCM. Review Of Plus ASIC Australia. FCA UK. Raw Spread. Commissions USD Base. Minimum Deposit. Swap Free Account. No Inactivity Fees. Funding Methods. No Funding Fees.

Currency Pairs. Index CFDs. Share CFDs. Commodities CFD. Retail Max Leverage Australia. Max Leverage Australia. MetaTrader 4 MT4. MetaTrader 5 MT5. Proprietary Platform. Automated Trading. Standard Stop Loss. Guaranteed Stop Loss. Demo Account. Pepperstone Is The Best MetaTrader 4 Broker. Standard Account Spreads. Base Currency USD EUR AUD GBP.

Total Fees. Visit Broker. Commissions Per Lot Australian Dollar US Dollar British Pound The Euro Swiss Franc Canadian Dollar Singapore Dollar New Zealand Dollar Hong Kong Dollar Japanese Yen MetaTrader 4 AUD 3. Our Rating The overall rating is based on review by our experts. IC Markets Is The Best MetaTrader 5 Broker. IC Markets MT5 Spread Comparison.

FxPro offers spreads of 0. FXCM Has The Best Forex Trading App FXCM is the best NinjaTrader broker and also has the best mobile app through its Trading Station proprietary platform. Background To NinjaTrader Based out of the USA, NinjaTrader is an advanced charting forex software package created in Cons Of NinjaTrader NinjaTrader is only offered by six foreign exchange brokers.

Final Verdict For FXCM 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. IG Is The Best ProRealTime Broker IG has , clients globally and is listed on the FTSE Pros Of ProRealTime As outlined above, the technical analysis functionality of ProRealTime is the key strength of the trading software.

Cons Of ProRealTime The platform was not designed for mobile trading with no trading apps available. More Details About IG There are two types of trading accounts.

Standard Account. eToro Offers The Best Copy Trading Software When opening an eToro trading account, a demo account is automatically created. A Deep Dive Of The eToro Trading Platform eToro specialises in social trading and copy trading with a platform specifically designed for trading CFDs.

eToro Copy Trading Platform Pros The most obvious advantage of the eToro trading platform is that the platform is specifically designed for social trading. The eToro Trading Community eToro has millions of traders but more importantly, it has the most traders engaged in social trading.

Financial Markets Offered By eToro In , 47 currency pairs can be traded with eToro. Final Verdict On eToro eToro is recommended for social and copy trading based on market share.

Plus Trading Platform Plus is a CFD provider that offers a large range of financial instruments for trading. Advantages Of Plus Platform Plus trading platform is well known for its ease of use when trading its large range of financial products. Disadvantages Of Plus Platform The Plus trading platform has several limitations. Final Verdict On City Index Overall, the City Index TradingView platform has professional capabilities and trading tools that can satisfy the needs of the most sophisticated traders.

Advantages of choosing CMC Markets include: Access to 10, CFD products Competitive commission-free trading for all CFD products except shares Share trading via CMC Invest Platform Risk management with a Guaranteed Stop-Loss Dynamic charting Range of order executions types Automated execution Next Generation The CMC Markets Next Generation trading platform comes with a number of features that make them stand out in a competitive market.

CMC Markets has great execution While CMC Markets is a market maker, they operate more like a no dealing desk broker. Even beginners will appreciate Forex.

com ensures a consistent trading experience. The ability to customize virtually every aspect of a chart — from indicators to colors to size — ensures maximum clarity and legibility for even novices trading on a demo account. In addition to Trading with Forex. com, traders with Standard and Commission accounts can choose between MetaTrader 4 and NinjaTrader. Opting for MetaTrader 4 has several advantages, including access to EAs to automate your trading and additional indicators beyond those native to the platform.

TradingCentral for extra charting and Reuters for news services and market research are also available. If your trading strategy favors scalping, however, NinjaTrader 8 may be the better bet.

In addition to depth of market views, the trading platform offers trading directly from charts, one-click trading, simultaneous orders across accounts and cancellation at different prices. NinjaTrader also simplifies order entry with hotkeys and provides a range of order types, such as order-cancels-order OCO. Used by over , users, this platform empowers you with top-notch charting and analysis. These indicators are supplemented with Market Analyzer, a feature unique to NinjaTrader that identifies opportunities in real-time.

The platform does provide all the tools you need to build automations — and unlike MetaTrader 4, does not require EAs. Traders familiar with C can write their own automation script for custom indicators using NinjaScript, while those with less technical savvy have access to a point-and-click, no-code option. com offers US forex traders a choice of two trading account types: Standard and MetaTrader 4.

Both accounts carry no commission costs but also have limited trading platform options. Specifically, US clients will need to choose between the Forex. com proprietary trading platform, MetaTrader 4 and NinjaTrader. US forex traders will want to consider the costs and fees associated with each account type before proceeding. Commission and STP Pro accounts carry commission costs for each standard lot of thousand that apply when you open or close a position.

That said, commission costs decrease the more you trade, in keeping with an account designed for professional traders. com trading platforms and trading view. That means no MetaTrader 4 or TradingView. A straightforward trading environment, low commissions and a variety of platforms to suit every trading style make Forex.

com a great broker for intermediate and advanced US forex traders looking for powerful analytics at an accessible price point. This uniquely American broker benefits from over 40 years of experience. Today, TD Ameritrade is one of the largest broker-dealer firms in the US, managing over 11 million trading accounts holding more than USD 1 trillion in assets and processing , orders on a daily basis.

Acquired by TD Ameritrade and the Charles Schwab Group in , thinkorswim — and its powerful INVESTools suite of solutions — now come standard with a TD Ameritrade investment account — and only a TD Ameritrade investment account. Similar to MetaTrader 4 with many of the same features, thinkorswim edges out the popular third-party platform with its addition of some attractive features, such as depth of market views. Because when it comes to home-grown trading and analytics solutions, thinkorswim has the charts, calculators and EAs to support just about any trading strategy.

Beginners looking to hone their online trading skills can trade virtually using the paperMoney simulator to practice, while more advanced forex traders using a rolling covered call option strategy can automate the management of covered calls using the Strategy Roller tool.

Meanwhile, algorithmic traders have access to over technical studies on which to base an automated trading strategy via thinkScript. An ideal broker for US-based traders hoping to manage a comprehensive portfolio, TD Ameritrade offers access to a wide range of trading products and markets.

The broker offers a reasonable portfolio of tradable assets, together with standard analysis, charting and market research tools. Interactive Brokers, more often known as IBKR, wins out over other platforms for on-the-go trading with a mobile app designed to make trading from a smartphone or tablet as accessible as a web app or desktop.

Though perhaps better known to US-based forex traders for its stock and exchange-traded funds ETFs offerings, the IBKR Mobile platform also allows US clients to trade options, futures and other non-forex products across over financial markets. Unlike some mobile app editions of popular trading platforms, IBKR Mobile has the handheld user experience built-in from the ground up.

Block Trading Desk helps money managers who need to execute large orders at the best prices. Impact Dashboard helps you identify which stocks are best for Environmental, social and governance ESG trading. The interactive Order Entry Wheel uses a similar drag-and-drop interface to allow futures traders to easily open positions for a variety of instruments.

For those concerned about the security risks associated with trading primarily via smartphone or tablet, IBKR mobile provides multiple layers of security, including two-factor identification and Face ID to protect your stored personal data, transaction records and credit card information. Trader Workstation is Interactive Brokers most powerful trading platform which makes sense since this is the only platform you can download onto your Windows desktop.

Research is available in the form of. FXTrader is an order management tool that aggregates quotes from 14 major interbank dealers. GlobalTrader and Impact allow trading of stocks from 90 markets across the globe using your mobile. It is also suitable for crypto and funds trading. The impact is much the same but has an emphasis on sustainable stocks.

IBKR stands out from other online forex brokers in a few ways that may make it more attractive to forex beginners and other, less experienced investors. Rather than a Standard account, IBKR instead offers retail traders an account known as IBKR Lite, which operates on a commission basis. The broker does, however, have over currency pairs available for cross-pairing, as well as a wide range of bonds, stocks, options and futures.

The broker has also invested heavily in developing a sentient data collection tool to monitor top traders on the platform and synthesize their behaviors into a broadly applicable trading strategy. According to eToro, the highly-specific nature of the data collected allows it to provide beginner and intermediate traders with more accurate, useful sentient data. Being a specialist in social trading, of particular interest is CopyTrader and SmartTrader.

CopyTrader allows you to find, follow and copy other traders in the eToro network. Smart Trader is like copy trading with indices, with this feature trading baskets are created based on popular themes. More experienced traders may find the platform lacking, however. In addition to the limited range of products eToro offers US account holders — only cryptocurrency, ETFs and stocks — the trading platform also lacks a desktop format or third-party integrations for more powerful platforms.

US clients of eToro accustomed to using MetaTrader 4 or MetaTrader 5 will be disappointed, in particular. Stocks and ETFs however are commission free. An excellent option for US forex traders new to day trading or specifically interested in crypto, eToro may disappoint more experienced traders or those hoping to build a diverse portfolio. NADEX is the first financial services platform of its kind to be licensed by the Commodities Futures Trading Commission and the National Futures Association, making it the safest way for US-based forex traders to explore options contracts.

NADEX account holders can trade options and knockouts on either a mobile or desktop platforms for enhanced freedom and flexibility. Regardless of how and where they choose to trade, traders have access to identical features and tools,. US-based traders can open three different types of options contracts with NADEX: knockouts, call spreads, and binary options.

Pricing for the underlying instruments is based on COMEX and NYMEX futures. In the case of a binary option expiration where the trader is out of the money, NADEX charges no fee.

Positions are capped for each of the three contract types: 2, for binary options, for call spreads and for knockouts. Traders interested in exploring options and other derivatives can trade with confidence on NADEX, secure in the knowledge that this broker carries the necessary licenses from US regulators. Of all the US forex brokers we profiled, Trading. Like other newer brokers, Trading. A swipe and tap interface makes configuring your trading environment and opening positions less cumbersome than on other applications.

Likewise, Trading. com has made a simple but key innovation: charts in landscape mode. Flipping the phone to landscape mode instantly enlarges charts, which makes tap-to-trade even faster. The platform has the capacity for charts with time frames, as well as 80 technical analysis tools.

Users have access to a curated marketplace of custom-built and off-the-shelf trading robots, but can also code their own expert advisors specifically for use on the platform. Note, however, that trading bots and EAs written for use with MT4 will not transfer to MT5 due to a difference in the programming language.

com offers US-based forex traders just one account type: the T1. TD Ameritrade is another well-known stockbroker on Wall Street. Founded in , TD Ameritrade has decades of history serving the investing community. Like Interactive Brokers, as currency trading became more of a hot topic, the company jumped in, seeing an opportunity to add new services to its portfolio. Today, TD Ameritrade is one of the top forex brokers on the market. TD Ameritrade is one of the most highly respected brokers on Wall Street and in the currency market today.

A Highly Technical Trading Platform With Among the Best Market Research Available, Intuitive Charting, and Access to MetaTrader4. CMC Markets is yet another highly reputable brokerage firm that got its start decades ago as a stockbroker. Based in the United Kingdom, CMC Markets is a name known around the world. The company offers online stock trading, forex, CFDs, cryptocurrency, and spread betting.

Here are the key benefits members of CMC Markets enjoy:. A Long History of Providing Quality Financial Services Across the Board. Ally Invest, a subsidiary of Ally Financial, is a company with a strong history of serving customers with compelling financial products since the early s. In , Ally Financial founded Ally Invest to give investors all the tools they need to be successful in the stock market.

Since then, the company has grown to be one of the top investing and trading platforms online. Some of the perks investors enjoy when working with Ally Invest include:. Ally Invest has earned its position as a member of the cream of the crop in forex, the stock market, and finance in general. Through more than years of service to the financial community, the company has been an innovator in the provision of compelling financial services in the United States.

Trading forex is a different process than investing in stock and, according to The Balance , many forex traders lose money, especially new traders. Much of this lack of success can be attributed to a lack of understanding of how the forex market works. Some of the most important factors you should consider before diving into the market include:. If you plan on trying your hand in the space, one of the most important moves you will make is choosing the right brokerage to work with.

Your broker should have top-of-the-line charting, research, and trading tools, come with regulatory oversight, and have a successful record of service to the financial industry.

The brokers listed here fit that bill to a T. Skip to content Advertiser Disclosure Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which MoneyCrashers.

The forex trading software is the most critical component traders need to consider when selecting a forex broker. We paired the most popular forex trading platforms with the best forex brokers based on fees, regulations and features.

With over 20 years of investing experience and 10 years of trading, Justin co-founded Compare Forex Brokers in He has worked within the foreign exchange trading industry for several years and for several of the largest banks globally. Justin achieved Honours in Commerce and has a Master's degree from Monash University. He also owns Innovate Online offering digital marketing services with over 20 employees.

As a Senior Financial Analyst for Alphabet with an active CPA, Riley has a vast amount of financial knowledge. He has a Master's Degree in economics at Penn State University and a B. He also owns the website Young and the Invested providing investing advice for young individuals.

He has an MBA in finance from the University of Miami Herbert Business School. Fact Checked. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. There are two main account types forex brokers offer. For this first account type standard account Pepperstone has the lowest spreads of any global MT4 forex broker.

spreads are taken from each broker's website and updated monthly. Based on brokerage alone, if your looking for a no-commission broker then Pepperstone is recommended as outlined on our low spread broker comparison page. The broker also has a competitive RAW account which combined a lower spread with a standard commission based on the volume traded. The calculator below combined the spreads and commissions of Pepperstone to IG and Axi.

The commission charged by Pepperstone for traders that select MetaTrader 4 are shown below. There is an active trader program that allows further discounts on these commissions when certain trading threshold volume markers are met each month. While most brokers that offer MetaTrader 4 offer standard access to MetaTrader Trading Signals for social trading and Expert Advisors for Automation along with the large library of custom indicators in the marketplace, Pepperstone offers platforms you can integrate with MetaTrader 4.

These tools include Capitalise. ai, Myfxbook, DupliTrade and Smart Trader tools. ai can integrate with your MetaTrader 4 platform so that traders with no technical skills can automate their trading using plain English in place of code. All Pepperstone trading products are available when using this platform. Myfxbook AutoTrade and DupliTrade are both account mirroring services that can integrate with your MetaTrader 4 trading platform.

Both these platforms allow you to copy the trades of the most successful traders in their network thus sparing you the need to do your own research and manually execute trades yourself. Pepperstone also offers a suite of 28 apps to help you get the most out of the capabilities of the MetaTrader 4 trading platform. These apps include useful features such as an alarm manager for alerts and notifications and a correlation matrix to show how different assets correlate to each other in market movements.

Other useful tools include a trading terminal for fast order execution and a sentiment trader for general market sentiment.

Pepperstone utilises a state-of-the-art Equinix data centre in New York for MetaTrader 4. This achieves up to 10x latency reduction and a 12x improvement in trade execution speeds. Using Market Order Execution, the average speed was 85ms. This was using demo accounts of similar brokers who offer a MetaTrader 4 no dealing desk NDD setup.

The fast execution speeds, low brokerage and enhanced features are the key factors why Pepperstone has gained market share over the past decade in core markets from Australia, UK, Singapore to Germany.

MetaTrader 4 MT4 is the most popular retail platform for currency trading. Over As the Google trends graph below. As Google trends highlight there was a spike in MetaTrader interest from the start of the global pandemic. The popularity of MetaTrader 4 is the biggest advantage as traders who become familiar with the platform can easily switch between the top forex brokers. The stability of the year-old trading software is another key benefit with other MT4 features including:.

The MetaTrader 4 platform does not suit those looking to trade share CFDs. The charting package is basic and while functional, it lacks the sophistication of other software packages. Other concerns include limited technical indicators, instruments, and timeframes. Check our MT4 vs MT5 guide if you are unsure what MetaTrader version is right for you.

Pepperstone was selected as the best MT4 forex broker based on the lowest average spreads , enhanced trading software features, award-winning customer support and fast execution speeds. These low spreads are considered similar to what ECN brokers offer and are determined by market conditions like volatility and liquidity.

IC Markets offer ECN spreads as low as 0. While this is often determined by your location, it impacts the commission rates with AUD, EUR, JPY and GBP the best value.

If you are outside of these regions, many traders will choose the USD as most forex pairs and crypto pairings are against the USD.

There are no hidden trading fees such as deposit or withdrawal fees including payment methods including credit cards, PayPal and even Bitcoin wallet.

Individual broker reviews reflect the positive sentiment of the straightforward fee model. Note that financing fees apply for overnight positions held on CFD markets. This allows you to trade forex, cryptocurrency, futures, commodities, bonds and indices. Maximum leverage, competitive spreads and commissions range by the CFD traded and the subsidiary you are signed up to.

The unique advantage of MT5 is the ability to trade share CFDs with the online broker offering ASX stock CFDs including BHP, NYSE stock CFDs including Walt Disney and NASDAQ CFDs including Google Alphabet. As of November , the average MetaTrader 5 execution speed was This speed is the average order execution time from the moment the trade is executed to the moment the trade is confirmed.

To achieve ultra-fast execution, IC Markets MetaTrader servers are located at the Equinix NY4 data centre. By having the server in this central location, IC Markets offers STP, low-latency pricing fees and no dealing desk. This applies to the largest VPS providers of nearby data centres dedicated lines or through the NY4 data centre itself.

Three years after the release of MT4, the team at MetaQuotes developed MetaTrader 5 MT5. The key reason for the new platform was to allow share CFD trading. The popularity of CFD trading and more brokers offering MT5 is why Below shows the details of the Forex Magnates MetaQuotes study.

As stated above, unlike MT4 which focuses solely on currency trading, MetaTrader 5 offers a wider range of CFDs including share CFD trading. CFDs work by trading the price movements of underlying assets and are derivative products.

The trading platform is faster than MetaTrader 4 and offers more indicators and a wider range of order types. More specifically the five core features of MT5 include:. The biggest issue of MT5 is the programming language for automated trading, called MQL5. This is different from MetaTrader 4 and the MQL4 programming language, therefore you would essentially be learning new coding from scratch if you are an MT4 user. This has been a key reason for the slow adoption of MT5. The popularity issue is also a factor when it comes to purchasing EAs trading bots or copy trading with a smaller marketplace compared to MT4.

An enhancement IC Markets offers is the ZuluTrade social trading extension. 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.

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. Commission and STP Pro accounts carry commission costs for each standard lot of thousand that apply when you open or close a position. 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. For example, some accounts offer zero commissions and wider spreads, while others allow you to trade currency pairs at 0 pips. Risk Warning: Your capital can be at risk. Or, the platform might notify you when a news story breaks that could influence the future price of a currency pair. Regardless of how and where they choose to trade, traders have access to identical features and tools, NADEX Accounts and Products US-based traders can open three different types of options contracts with NADEX: knockouts, call spreads, and binary options.

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