If you are investing in a business or are interested in currency investment, the term “forex trading” is no stranger. However, there will also be some people who do not fully understand how it works.
Our today’s article will help you better understand forex trading platforms and recommend the Top 10 best forex trading platforms for you.
What are Forex Trading Platforms?
It would be a mistake if many people think that the term “foreign exchange” has the same meaning as “foreign currency”.
But real, Foreign exchange is a term used to refer to valuable instruments used in international transactions, including foreign currencies, foreign currency payment instruments (bank cards, visa cards, checks, …), documents of foreign currency origin (bonds, stocks..), gold, money, and cryptocurrencies (bitcoin, Ethereum..)
Forex trading is the exchange of foreign exchange or foreign currency, also known as FOREX. This is a market for buying, selling, and exchanging foreign currencies and negotiable instruments on the international market. Forex is the largest economy in the global financial market, daily transactions amount to $5.3 trillion.
If in the past, only large financial institutions and high-income individuals could access the foreign exchange market for trading, today, thanks to the development of technology, many customers have You can trade forex anywhere with modern, secure and reliable online trading platforms.
The foreign exchange market is a market that allows the exchange of currencies on a global scale. The main players in this market are large international banks. Financial centers around the world act as trading hubs between various buyers and sellers 24 hours a day, excluding weekends.
The foreign exchange market was born because of the need to convert currencies between countries for commercial purposes. For example, Vietnamese students going to the US to study abroad need to convert VND into USD to shop and consume there.
Compared to the stock market, foreign exchange is much larger, so forex transactions are extremely fast, and orders can be entered or closed immediately. It’s not like securities are limited by trading time and can’t always be executed.
Currency trading platform
Is a software interface provided by currency brokers to their clients to help them access as traders in the foreign exchange market? Users can execute trades on the web or download a dedicated app for their mobile device.
Investors or traders operating on forex trading platforms will have their options. So what are the forex trading platforms like? And how do they work? Which platform is the best?
Below we will show the w you the Top 10 best forex trading platforms.
Top 10 Best Forex Trading Platforms
– IC Markets is an Australian ECN broker, aimed at meeting the needs of a large number of traders, including day traders, scalpers, high volume, traders, and algorithmic traders.
– Forex trading of this platfno-arbitragerbitrage and with their advanced technology allows users to execute orders in an average of 35 milliseconds.
– IC Markets offers three trading platforms (,MT4, MT5 and cTrader), especially you can install a robot to make automated trades.
– IC Markets in addition to providing a great VPS service for advanced traders also offers a demo account for beginners.
– The minimum deposit for a real account with IC Markets is kept as low as $200.
– IC Markets is regulated by CySEC (362/18), ASIC (335692), SCB (S,IA-F214) and FSA (SD018).
– Pepperstone is also an Australian ECN broker. It is popular with day traders and scalpers because of its very low spreads.
– Pepperstone spreads are unmarked, with an average on the EUR/USD pair of 0.09 pips, but it charges a commission of $3 per lot traded. Pepperstone executes commands with an average of about 30ms.
– Professional forex traders can access a service that allows them to get discounts depending on trading volume.
– Traders have 3 options ,MT4, MT5 and cTrader, and for those interested in social trading there is Duplitrade
– Pepperstone is regulated by various regulators, including the FCA (684312), ASIC (414530), DFSA (F004356), CySEC (398429), SCB (SIA-F217), and CMA (128).
– Avawell-known well known Irish forex trading platform offering fixed forex spreads as low as 0.6 pips.
– AvaTrade in addition to providing MT4 and MT5 trading platforms also has a large number of mobile trading platforms including AvaOptions (for options trading), AvaTradeGO (for CFDand trading), AvaSocial (for trading). copy translation)
– AvaTrade offers demo accounts to all clients and allows you to open a real account with asa little as $100 deposit.
– AvaTrade is regulated by the central bank of Ira eland with regulatory number (C53877). AvaTrade’s other regulators are ASIC (406684), FSCA (45984), CySEC (347/17), JFSA (1662), and FFAJ (1574).
– XM is a platform that follows a very strict requirements policy. 35% of user requests are fulfilled in less than a second, and none of those orders are subject to price changes.
– Another plus of XM is leverage up to 1:888 according to IFSC.
– XM offers a completely free demo account and you can start a real account with an initofdeposit from as little as $5.
– Forex spreads with XM start from 0 pips and you can trade on MetaTrader 4 or MetaTrader 5 as they are all the same.
– XM is rseveral a number of national and international regulatory bodies, including CySEC (120/110), DFSA (F003484), IFSC (000261/158), and ASIC (443670).
– Forex.com is a trading platform founded in 1999 in New Jersey, now part of the StoneX financial group. It is one of the most popular forex trading platforms among US forex traders.
– Forex.com is licensed and regulated by multiple regulatory bodiethe s in Europe, UK, Jap,an, Australia and NFA (339826) in the US.
– At Forex.com you are also offered a free demo account and start opening a real account for $100. More advanced traders can open a DMA account for $20,000, which gives users better order access.
– Forex.com offers MetaTrader 4 as its main trading platform.
– FxPro is a UK forex trading platform and has won over 70 international awards.
– FxPro attracts both new and experienced traders because of its versatility.
– Atan an an an an an an an an an FxPro offers NDD order matching policy, allowing brokers to process trade orders in less than 14 milliseconds.
– FxPro on MT4 offers both fixed and variable spreads, while on MT5 and cTrader the spreads are variable only and start from 0 pips.
– Plus500 is a CFD provider from the UK. With the P,lus500 platform you will be able to trade thousands of CFDs, including forex CFD pairs.
– At Plus500, clients are also provided with a demo account that can be quickly opened with email and password and all trades will be made on the web traderetary webtrader platform.
However, Plus500 is not suitable for scalpers and algorithmic traders as the trading platform prohibits the use of such trading techniques.
– Plus500 is licensed and regulated by major regulatory bodies: FCA (509909) CySEC (250/14), MAS (CMS100648-1), FSA (SD039), ASIC (486026).
– Admirals is considered one of the most versatile forex trading platforms in the industry.
– At Admirals allows traders to make trades on MT4 or MT5 and they will provide 6 different trading accounts to users.
– All clients at Admirals can start from 0 pips with a commission of $6 and $3.6 for active traders.
– Admirals is heavily regulated by many financial authorities including the FCA (595450),, CySEC (201/13) and ASIC (410681).
– IG market offers a large number of exclusive services to clients in Europe, including a total of more than 90 forex pairs and 17,000 tradable instruments.
– IG Markets forex spreads start at 0.6 pips.
– IG Markets offers two trading platforms (MT4 and L2 Trader), which include additional services and indicators to enhance the trading experience.
– Like other trading platforms, IG market offers a demo account when you start, but to open a real account you need to deposit $300, then the final amount depends on the country you are in. live.
– IG Markets is regulated by 10 different regulatory bodies, including BaFIN (148759), FCA (195355)and, ASIC (220440), NFA (509630).
– FP Markets offers excellent ECN with orders processed within 40 milliseconds on average.
– All FP Markets clients will be trading on MT4 and MT5.
– FP Market spreads start from 0 pips and the commission is $6 per lot.
– With FP Markets you can use leverage up to 1:500 depending on the trader’s position.
– The FP Market is regulated by CySEC (371/18), ASIC (286354) Saint Vincent, and the Grenadines.
Most forex trading platforms offer great benefits to their users. However, we need to consider and learn carefully before deciding to trade or invest in it. Because many countries currently do not have any policy on circulating foreign exchange transactions.
So everyone needs to be careful because the benefits they bring are great, but they always come with unforeseen risks. Hope our article “Top 10 Best Forex Trading Platforms” is useful to you.
Thanks for reading!