The best trading platforms for 2020
The capital markets are consistently moving, 24-hours a day, 6-days a week. Before you blink a currency can change its value, so its important if you are planning to trade these markets, that you have an app that will alert you of these changes instantaneously.
Real-time updates that provide information about prices and news is one of the key features you should be looking for when you decide to use a forex trading app.
In addition, to real-time updates you should expect:
- Educational Resources
- Tight Spreads
- Demonstration Account
- Mobile Application
It’s important that you shop around for a forex broker and find one that offers good spreads, real-time data, educational resources, a demo account and a mobile application.
Here are some of the best.
Forex.com offers very tight spread and a robust mobile app that is available on iOS or Android. The software runs using Metatrader 4, one of the most popular trading platforms available. Their charting software is robust, and Metatrader generally offers an expert advisor that allows you to trade automatically using algorithms. The mobile app has the same advanced charting options and real-time pricing and news that you get with the downloadable desktop version. You can customize the trading app dashboard altering the watchlist to evaluate your positions and balances. The applications states that they are the number 1 app in the US, they have more than 80+ forex pairs, and spreads as low as 0.2.
ForexTime was named 2017’s Best Forex Broker by the Global Investor Mena Awards. They run their application through Metatrader 4 and 5. Metatrader 5, was built by MetaQuotes to be an efficient contract for differences platform. MT5 has several advantages over MT4. Their mobile applications work on both iOs and Android. The company provides an app that has tight spreads with a minimum deposit of on $5. The app has a free demonstration account, that works on both their MT4 and MT4 platforms and has step by step teaching tutorials, online webinars and local seminars, as well as an entire educational portal.
iFOREX provides its clients both a desktop and mobile application. The software is customized as the company do not use white labels such as MT4 and MT5. iFOREX offers a desktop application that is browser-based which allows you to logon wherever you have access to the internet. iFOREX is a contract for differences broker, providing CFDs that track currencies, commodities, indices, equities and cryptocurrencies. iFOREX offers a very robust educational portal, that provides videos and articles on subjects such as risk management and trading strategy development. They have very strong customer service, that has multiple ways to contact them in several different languages. They also offer a demo account that works on both their browser-based and mobile applications.
Netdania has consistently been rated by consumers as one of the Apple store’s top-rated finance apps. Netdania provides more than 20,000 trading tools and indicators, that can be used to analyze technical over 2,200 currency pairs. The company also offers a plethora of stock and indices that can be traded on both their desktop and mobile application. Netdania is available in in 16 languages, and you can easily synchronize a profile setting across multiple platforms. The company provides multiple apps, that are customized, as well as mobile applications that work on both ioS and Android.
IG is a well-established publicly traded company that is regulated in six tier-1 jurisdictions. The company offers trading in both forex and CFDs. The company offers both its flagship platform as well as a MT4 version. They offer both a mobile platform as well as desktop versions. They offer tight spreads as well as a robust educational portal.