As a forex trader, you are probably aware of how dynamic the forex market is. There are always new developments in every aspect of the business. The trading platforms are always evolving, the market is constantly changing and technology is always heralding new ways to do business. In such an industry as this, a great deal of insight is needed to stay in control. Forex traders who are learning need to use a tool like a trading simulator to get enough experience before getting into the actual trade. Simulators often come as part of trading platforms even though they also come as separate apps. The forex trading platforms available in the market today are generally designed to cater for different user bases. Here are 5 of the best forex trading platforms.
This platform is one of the most popular for risk management. EasyMarkets comes with a number of features that also make it a great platform for beginners. To start with, the platform features a demo version which is available to users for a limited amount of time. Learners can thus learn and graduate into actual trading within the same platform. EasyMarkets also a free stop loss and guaranteed deal cancellation for all traders. This makes it a great option for mitigating risks. The platform also has an open policy where all the fees involved in the trade are revealed upfront. EasyMarkets is a great option for both learners and experienced traders who are concerned about risks in the market.
cTrader is a popular platform that has been around for nearly a decade. The platform is a great option for traders who are looking for a user-friendly interface and accessibility. The platform is one of the few that features both manual and automated options. The best part of the platform is that a user can transition from either of the trading modes without much hassle. cTrader also features some great pricing options that allow users to see the market from a broader perspective. The platform also has insightful detachable charts as well as customizable templates. cTrader is definitely superb for traders who are experienced and who love to work with automated features.
3. IG Trading
This platform is one of those that try to incorporate as many features as possible without losing its core functionality. The IG trading platform is definitely a comprehensive tool that is used for all forms of financial trading. Users of the platform can do anything from trading shares to exchanging Bitcoin. The platform is also designed in accordance with modern standards and the interface is customizable. It is accessible via various platforms and there is a dedicated support system baked right within the system. This platform is great for traders who run various forms of trade as well as those looking for a decent program to do their work.
4. MetaTrader 4
Metatrader 4 has a huge reputation in the market. The platform has been around for one of the longest periods compared to the others. This platform introduced most users to forex trading and it has built a legacy in the world of financial trading. Metatrader 4 comes with a functional design and it is also equipped with numerous addons. MT4 is considered to be the best platform because it gives users access to countless indicators and is also quite speedy. The platform works efficiently in almost every operating system. MT4 is a great option for traders of all kinds since it has enough resources. Information on using the platform is also sufficient.
FXCM is a veteran platform that has gone through many phases during its evolution. The platform is currently a great option that is used mostly by traders who prefer to have a wider pip spread. The platform offers training resources right within the program and it has a customer support that is always open. FXCM is customizable and features from other platforms can be added within its interface. FXCM is generally a decent option that can be used by beginners as well as established traders for learning and trading.
It is important to get the best trading platform in order to succeed in the forex market. By learning about the platforms available, you can choose one that suits your needs. The above platforms are some of the best tools you will find in the market in 2018.