Best Forex Trading Platforms

Pepperstone – The Best For Range Of Trading Software Overall We have nominated Pepperstone as having the best software overall due to its extensive range of options when it comes to trading platforms, social trading tools, and charting tools. In addition to a solid product software range, Pepperstone offers tight spreads, low commissions with fast execution which will help you make the most of the software products they offer. Pepperstone Offers Great Spreads And Low Commission Four accounts are available with Pepperstone. These accounts are the Standard account, Razor account (for MetaTrader), Razor account (for cTrader), and swap-free Account. Pepperstone Razor account vs Standard account The Razor account is Pepperstone’s ‘signature’ account as it offers the best value in their portfolio. With this account, you will save on your trading costs as you will get some of the tightest spreads on the market. At their lowest, spreads for some major currency pairs can go as low as 0.1 pips. Pepperstone is able to offer tight spreads as they use no dealing desk STP trading execution to achieve ECN Pricing. Tighter spreads mean significant savings for you as each additional pip will add $10 to your costs. While this might not sound like much, when you trading with multiple lots and high leverage, your costs can add up. To keep your spreads tight and avoid artificially changing prices set by liquidity markets, Pepperstone charges a commission rather than widen the spread. Commission costs are: MetaTrader 5 - USD $3.50 sideways / $7.00 round-turn per standard lot ($0.04 / $0.08 when trading 0.01 lots) - AUD $3.50 sideways / $7.00 round-turn per standard lot ($0.04 / $0.08 when trading 0.01 lots) - Eur $2.61 sideways / $5.23 round-turn per standard lot ($0.03 / $0.06 when trading 0.01 lots) - GBP $2.29 sideways / $4.59 round-turn per standard lot ($0.02 / $0.05 when trading 0.01 lots) MetTrader 4 - USD 3.76 sideways / $7.53 round-turn per standard lot (0.04 / 0.08 when trading 0.01 lots) - AUD 3.50 sideways / 7.00 round-turn per standard lot (0.04 / 0.08 when trading 0.01 lots) - Eur 2.61 sideways / 5.23 round-turn per standard lot - GBP 2.29 sideways / 4.59 round-turn per standard lot (0.02 / 0.05 when trading 0.01 lots) cTrader charge of 7 units per lot using the first currency of the pair (i.e. AUDUSD = AUD$7 per lot traded) Commission costs compare well against other brokers. If you are trading many lots, commission costs, much like spreads can add up. Pepperstone Razor account and Standard account features Both accounts offer the same features, the only difference is the spread size and commission. With the Pepperstone accounts, you get the following: - Trading with minimum lots of 0.01: Trading with smaller lot sizes means greater flexibility with the size of your trades - Leverage of 30:1 for major pairs and 20:1 for minor currency pairs with Pepperstone UK (FCA) and 500:1 with Pepperstone Australia (ASIC) - $200 minimum deposit: A minimum deposit of $200 is required to open an account however this is not enforced - Wide choice of base currencies: USD, EUR, AUD, GBP, JPY, CAD, CHF, NZD, SGD, and HKD - Hedging allowed - Automated Trading allowed: Expert Advisors - Social trading allowed - Pepperstone Swap-free account - An Islamic account is available with no swap fees (also known as overnight or holding fees). This account is designed to be compliant with Sharia law where swaps are not permitted. You can use a swap account with either the Standard or Razor account, to join you will need to contact Pepperstone support and be able to prove you are of the Muslim faith. Pepperstone Is the Best Fast Execution Broker Pepperstone offers fast execution speed of orders in less than ~30ms*. Quick execution with no delays is ideal for forex day trading, expert advisors, and scalp trading as the chances of slippage are greatly reduced due to lags during execution. Pepperstone Offers The Best Trading Platforms On The Market MetaTrader 4 platform Pepperstone offers MetaTrader 4 which is the most popular forex trading platform on the market. Available for Mac, Windows, Mobile App (Android and iOS), Tablets, and WebTrader via Web Browsers the platform is designed with a user-friendly interface and customizable trading environment. MetaTrader 4 is free to use and can be used on both Razor and Standard accounts. MetaTrader 5 MetaTrader 5 is a new advanced version of MetaTrader 4, designed to offer a new experience with faster processing time. MT5 allows hedging positions for both types of accounts with advanced pending orders. Exceptional features on MT4 provide a new trading experience with advanced tools and optimized platforms. Traders can customize the platform with advanced customizations of workspace and easier to code using MQL5. With Smart Traders Tools easily integrated on MetaTrader 5 offering a new trading potential with 28 tools of expert advisors, trading robots, and indicators. Key features and benefits of MetaTrader 5: - Optimized processing speeds - Ability to hedge your positions - Built-in economic calendar - 38 inbuilt indicators - Maximum of 500 total orders - 21 timeframes - Advanced pending orders - Compatible with Autochartist and Smart Trader Tools packages If you are using MetaTrader 4 or 5 then you will get free access to Smart Trader Tools. This is an add on to the MetaTrader trading platforms with 28 extra tools and indicators which can enhance your trading experience. Smart Trader Tools cTrader platform cTrader platform offers advanced trading capabilities with fast entry, execution, and coding customization. Educational content, tools, and analysis built to help traders for better decisions on trading. cTrader advanced risk management feature protects traders from the negative balance. Created by Spotware, cTrader is suited for beginner and advanced traders. Pepperstone Offers A Top Range Of Social Trading Tools MyFxBook AutoTrade (Not available in UK/Europe due to FCA regulations) AutoTrade is an automated social copying and mirroring service built on the MyFxBook community platform. The platform allows you to copy the trades from some of the most successful forex trading systems available meaning you get access to a community of over 90,000 forex traders. MetaTrader Signals MetaTrader Signals is a MetaQuotes copy trading solution built into the MetaTrader trading platform. Due to the popularity of MetaTrader, users will get access to the MetaTrader community one of the largest in the marketplace. The platform works by allowing traders to make public their trades and allowing others to monitor their signals and automatically duplicate. MirrorTrader (not available in the UK and Europe due to FCA regulation) Mirror Trader offers one of the most sophisticated account mirroring solutions in the markets. Made be Tradency, the products key point of difference is the ability to follow other traders over a wide choice of timeframes and filters that allow you to find other traders' signals to copy that best match your risk tolerance. Once you have found signals that best fit your requirements, your selections can be integrated into your trading account and trade executed with minimum effort. Dupli Trader DupliTrade allows traders to automate trading automatically with a popular trading strategy marketplace of signals. With signals from proprietary traders to let traders expand the trading knowledge of financial markets and gain more understanding of professional techniques. With a minimum deposit of $5,000 USD, traders can gain access to the DupliTrade tool. DupliTrade trading platform allows you to take advantage of the expertise of other traders by duplicating their signals. DupliTrade hand picks only traders with a proven track record when trading in the market Pelican (not available in Australia due to ASIC regulations) Pelican is the only FCA regulated social trading platform in the market. It is slightly different from most other social trading platforms. While most other platforms allow you to copy signals from other traders, there doesn’t tend to be much social about it as the experts are largely anonymous and there is little engagement with them. Pelican seeks to allow social trading interaction with traders you ‘know’. The idea is you can ask questions from mentors, chat with friends all within the platform. To help encourage better social interaction, Pelican also offers education tools so traders can learn together. Pepperstone Offers One Of The Most Popular Technical Indicators Autochartist tool Integrated right into the MetaTrader platform, Autochartist offers useful graphical and analytical indicators such as charts, market scanners and alerts to help you make better trading decisions. Beginner trader will appreciate this tool especially as Autochartist spares them the need to build their own indicators. IC Markets – Low Fee MetaTrader 4 Forex Broker Tight Spreads and Commissions IC Market offers three types of accounts: cTrader, Raw Spread, and Standard account. cTrader account type requires the cTrader platform for trading with a commission of $3 USD per lot. Raw Spread account requires the MetaTrader platform with a commission of $3.5 USD per lot. For Standard Account, IC Market doesn’t charge any commission. IC Market offers tight spreads starting from 0.0 pips for cTrader and Raw Spread accounts. The Standard account clients can trade with spreads starting from 1.0 pips. With a maximum leverage of 500:1 applied to all account types. Multiple CFD Instruments Available To Trade IC Market offers over 236 CFD instruments available to trade with low spreads and commissions: - Forex CFD trading with 60 currency pairs, tight spreads from 0.0 pips, and leverage up to 1:500 - Indices CFD trading with 17 major indices, spreads from 0.5 pips and leverage of up to 1:200 - Commodities CFD trading with 19 commodities as Energy, Metals, and with leverage up to 1:500 - Stocks CFD trading with more than 120 global stocks from the most popular companies - Bonds CFD trading with leverage of up to 1:200 and more than 6 bonds around the world - Crypto CFD trading with 10 of the most popular cryptocurrencies and a leverage of up to 1:5 - Futures CFD trading with 4 global features available to trade with a leverage of up to 1:200 IC Markets Offers Great Trading Platforms MetaTrader 4 platform IC Market offers the MetaTrader 4 platform for all Raw and Standard account clients for free. MetaTrader 4 offers fast order execution with a server located in New York. MetaTrader 4 platform from IC Markets has a latency of 1-millisecond average or less. Advanced Trading Tools is available for MetaTrader 4 designed to give traders quality tools and multiple features. In addition, the list of features includes sophisticated alarms, market data, trade terminal, stealth orders, and more. MetaTrader 4 along with Advanced Trading Tools is available for all clients with Windows or Mac operating systems. MetaTrader 5 MetaTrader 5 platform on IC Markets is an updated and improved version of MetaTrader 4 designed to offer everything in one platform. Traders can enjoy trading with no dealing desk, no prices requote, or any manipulation price on the IC Market trading platform. MetaTrader 5 provides over 25 indicators exclusive for all IC Market clients. cTrader cTrader is a platform designed for high-speed execution of orders. With a unique design, an elegant, and smooth user interface experience. cTrader has no restrictions on trading with some of the best trading conditions for scalping and high-frequency trading. IC Markets Social Trading Tools - MyFxBook AutoTrader - Myfxbook AutoTrade is available to use for all IC Market clients with a next-generation copy trading system by Myfxbook. AutoTrade allows you to copy trades from any system directly into your MetaTrader 4 account. Auto Trade is available only for live trading with full control of your account and no hidden fees. Zulu Trade ZuluTrade is an ideal solution for traders who cannot commit time to build their own strategies. ZuluTrade clients can follow trading from 100.000 Zulu traders among 192 countries. ZuluTrade is an advanced trading platform offering advanced features as: -Zulu Rank a sophisticated algorithm signal provider to analyze overall performance -Zulu Guard a highly advanced account protection feature that monitors trading performance 24/7 -A simulation tool to test different strategies on a demo account. FXCM is the best broker for the software platform NinjaTrader is an advanced trading platform with analytics, charting automation capabilities. The software platform offers pre-loaded chart styles with hundreds of technical indicators. Offering a collection of artful drawing tools for charts. NinjaTrader can load multiple time-frames and markets on a single chart designed to not miss any market patterns. Traders can configure hundreds of indicators quickly and easily. NinjaTrader offers auto trading with no programming knowledge required. Multiple ATM strategies are available for use in risk management or automated trade execution. Traders can fully customize trailing stops quickly in fractions of a second. -Place and modify existing orders directly from the chart window -Customizable hotkeys to place and modify orders seamlessly and directly from the pricing chart -Very-low latency order submission and modification -Arrange windows across multiple monitors -Analyze crypto markets for free. eToro – Best Social Forex Trading Platform eToro is the best forex broker in the social trading network. With a copy-trading system allowing traders to copy trades from other traders quickly. eToro offers more than 2,000 financial instruments across various categories as Forex, Crypto, Stocks, and more. eToro’s platform offers an easy-to-use experience with a clean design and user interface. The social trading platform connects traders together by sharing ideas, trading decisions, and strategies on a news feed. With CopyTrader system traders can start trading with strategies of other traders. Traders choose the amount of investment and start copying trades from other traders. Stop loss and take profit are updated automatically when the trader you’ve invested changes the stop loss or take profit price. The social trading platform funds traders with $100,000 “virtual money”, to start trading before investing real money. eToro provides multiple tools such as Economic Calendar to inform traders of news events and other features and points listed below: -47 Forex currency trading pairs available for trading with leverage of 30:1 -Live news feed -Trading Idea Sharing -Quick and Easy CopyTrading -Mobile Trading City Index – Good Trading Platform for Beginner Forex Traders With over 12,000 markets to choose, City Index offers a wide range of markets with the best platform for beginners. Trade on powerful and easy-to-use platforms for trading forex. Fast and flexible workspace with a real-time news forex platform. cTrader offers a platform for all trading styles and multiple devices. With powerful analysis tools and one-click trading mode ideal for beginners in the foreign exchange market. City Index platforms are ideal for professional traders too with AT Pro platform. AT Pro platform offers more features and tools, but it’s more complex to use for beginners. Web Trader platform is built entirely on HTML5, easy to use, and very friendly for beginners. The mobile platform is built with a clean design for a smoother experience and with its features and tools designed for beginners. City Index offers trading platforms for: -Mobile -Desktop -Tablet ThinkMarkets – Best For Expert Advisors & Back-Testing ThinkMarkets is the best broker for Expert Advisors and Backtesting. ThinkMarkets has no restriction on expert advisors, forex robots, and indicators running at the same time. Expert advisors and indicators can easily be integrated on MetaTrader 4 and 5 platforms. Although, the MetaTrader 5 is the recommended platform for EAs and indicators. ThinkMarkets trading platform offers customization of indicators easily on MT5. ThinkMarkets platform is ideal for expert advisors and indicators with their algorithms to execute and search for price patterns. ThinkMarkets backtesting strategies on the MetaTrader platform allow traders to backtest and analyze their past performance. Backtesting helps traders with analyzing the history price in the past and spotting trading opportunities based on the past movement of the market. Traders can use expert advisors and indicators on these financial assets: -Forex -Indices -Metals -Cryptocurrency Shares CFD -CFD Futures -Commodities FXPro – Top Broker With cTrader Trade & cTrader Automate FXPro offers cTrader a powerful trading platform with a clean and friendly design. cTrader Web Platform brings all benefits of online trading start in your browser. With quick trade execution orders suited for scalp traders. cTrader features as Economic Calendar show news directly in your cTrader feed and an economic calendar informing you about the upcoming events. cTrader’s platform besides the modern design, it offers many features and built-in tools on its platform. With over 70 indicators pre-installed and the ability to customize indicators with prices, levels, and more. cTrader platform is known for other features and tools as: -No Dealing Desk Execution -Up to 7,000 orders executed per second -Regulated broker across five major jurisdiction -Low Spreads cTrader offers multiple timeframes at different intervals with advanced charting layouts. Available to choose from more than 50 templates and customize your trading workspace. cTrader has no requotes with 0.37 average variable spreads for EUR/USD. Algorithmic trading is based on automatic systems that open positions automatically, based on unique conditions & parameters. These are called Expert Advisors or Robots. With more than 260 CFD instruments and 6 different instruments available for trading: - Forex - Indices - Energies - Metals - AxiTrader Offers AutoChartist Technical Analysis Tools AxiTrader offers access to multiple trading platforms designed to help with the trading experience. Popular platforms as MetaTrader 4, 5 with full of advanced functions to unlock unlimited trading possibilities. Superfast speed execution of orders with over 150 instruments available for trading. MetaTrader 4 is compatible with 3rd party plugins and pre-installed indicators. AxiTrader offers multiple tools as Myfxbook AutoTrade free to all AxiTrader clients. Myfxbook AutoTrade allows you to track the performance of top traders with their trades. Myfxbook offers access to past historical data to study market movements and improve your trading performance. Other smart tools as Autochartist are designed to find trading opportunities with real-time scanning. By automatically identifying trades setups and the option to alert trades. Autochartist is designed to search for trade opportunities of market patterns, key levels, and more. Expert advisors and indicators can be integrated easily in MetaTrader platforms. With large assets of the latest indicators to advance your trading workstation with multiple features. Multiple timeframes, advanced charting, mini terminal, and more indicators are built to offer you a full experience in technical analysis. MetaTrader platforms and their tools are available for: - Mobile - Desktop - Tablets Conclusion Forex traders can choose the best forex trading software platform, low spreads, social trading, and more. Compare Forex Brokers has listed forex brokers with deep studying to offer traders a full experience in trading.