FXTM has made a name for itself as a top broker for border and emerging markets. There are 4 million users worldwide, spread over more than countries. It offers a chance to generate income through active trading or investment strategies.

The company is licensed by the CySEC Cyprus Securities and Exchange Commission , FSCA Financial Sector Supervision Authority of South Africa, FCA Financial Conduct Authority of the UK, and FSC Mauritius Financial Supervisory Commission. Commission-based and commission-free Forex accounts are available to traders on FXTM. The commission-based Forex account ranks as one of the best in the market.

The website's user interface enables users to rapidly evaluate all of the broker's capabilities and determine whether or not its trading conditions are appropriate for active trading and investment offerings. The FXTM affiliate program also offers customers extra means of income.

The leverage offered by FXTM ranges from to and decreases as trading volume increases. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. For busy traders looking for an easy platform to get started with forex trading, eToro is a great option.

It offers a variety of features, such as social trading, as well as a mobile app that makes trading on the go even easier. eToro is one of the most popular forex trading platforms and is perfect for beginners. So why not give it a try today?

Funding your eToro account is very easy with these simple steps:. Once you have selected your demo account, it's time to get started! This will allow you to test out how the platform works before investing any real money in it. You can also use this account as a platform to improve your trading skills. eToro offers an excellent platform with a wide range of currency pairs for trading. To select the currency pairs you wish to trade with:.

eToro makes this process easy and intuitive for both experienced traders and those starting. Buy means you are banking on that asset to increase in value. Sell means you expect the asset to depreciate. A global decentralized or over-the-counter market for exchanging currencies is known as the foreign exchange market. Some currencies' price swings might be particularly volatile due to the volume of currency that is exchanged each day.

This volatility, which increases both the risk and the potential for huge returns, is what can make forex trading so alluring to traders. Forex trading is a highly profitable investment strategy that can provide you with steady returns over time.

Forex trading is a high-risk, high-reward investment that can be lucrative for those who are willing to take the plunge. However, it's important to make the right decisions at the right time. Now that you know the forex trading platforms for beginners, choosing a platform shouldn't be a difficult decision to make.

Once you have decided on a platform , it's important to make sure to practice trading with some basic principles in mind. This will help you develop a trading strategy and stick to it. As forex trading is a highly complex activity, it's important to find a platform that is tailored to your needs and budget. Here are some tips for beginners. It is always important to have a solid forex trading strategy in place before beginning any trade.

The strategies offered by different platforms vary, so it is important to select the one that best suits your needs and trading style. Forex traders should also keep a close eye on market conditions and news events, doing this will help them make better-informed decisions when trading. Finally, use forex trader tools as they can be very helpful in making sense of complex trends and movements.

Forex trading is a high-risk endeavor, and without the proper risk management strategy, you could lose all your money very quickly. Before starting forex trading, it's important to understand the different types of forex trading and their risks. You should also educate yourself on market conditions so that you can make informed decisions about your trades. By doing so, you'll be able to take full advantage of opportunities while minimizing potential losses.

It is important to always be prepared for the market to move in either direction. This means that you need to have a trading plan as well as adjustable stop losses and profit targets in case things get tough. Technical analysis can help identify trends and volatility so that you can make informed decisions while trading forex. Most importantly, remain positive and stay focused on your goals! If you trade consistently with these principles, then success will come naturally over time.

When forex trading, it is important to choose a platform with tight spreads. These platforms offer traders the opportunity to make a lot of money by successfully trading currencies.

Make sure that the platform you select is user-friendly and provides customization options for your trading strategy. You should also take into account the fees charged by this platform as this will affect how much profit you can make from your investments.

It's also worth checking out whether or not this particular forex trading platform has a good reputation in the market - if so, it makes choosing it easier. If in doubt, you can check our list of forex trading platforms for beginners again. Before trading forex with real money, it is important to use a demo account first.

This way you can test the platform and make sure you understand how it works. Once you have mastered the basics, trading with real money is much more fun! And this is when things start moving in your favor - as forex trading platforms tend to be more volatile than stock markets, making profits here can be very rewarding indeed! Forex trading can be a complex and risky business, but it can also be a very lucrative one.

Trading forex can seem daunting for beginners, but with the help of the right forex trading platform, you can get started quickly and make some profitable trading decisions. We have reviewed 6 forex trading platforms for beginners. The best platform will be based on your individual needs and interests, so make sure to read the reviews and research everything thoroughly before making a decision. Trade Forex. Some forex trading platforms are better suited for experienced traders who are looking to trade larger volumes of currency.

Other forex trading platforms may be better for those who are new to forex trading altogether, or who are looking for a more simplified trading experience. It's important to use a regulated forex broker that offers security features to prevent malpractices.

Many people in the US turn to online forex trading platforms such as eToro, Libertex, FXTM, FOREX. com, IG, and Interactive Brokers for their trading needs. Each platform has its strengths and weaknesses, so make sure you do your research before committing to anyone. Forex trading is not considered an illegal activity in most countries, including the United States. That said, the strict rules and regulations in the US are quite different from other countries.

That all depends on your goals and preferences when it comes to trading forex. If you're looking for quick profits, then forex trading may not be the best option for you. However, if you're after long-term investment opportunities, then forex trading can be a great way to go. And, as always, make sure that you do your research and choose the right platform for your needs before jumping in head first. After completing her pharmacy degree at the University of Lagos, Nigeria, in , she began writing professionally in fintech.

com, Equalizer, Koinly, Olymp Trade, Salesgnomics, Scribbr, and Swapzone. She currently freelances on Upwork and writes weekly reviews at 18digits. Maryam lives in Manchester, United Kingdom and can be found on LinkedIn Maryam Jinadu. Home » forex » beginners. Maryam Jinadu Pro Investor. Updated: 23 October In simple terms, this is a fee that you pay to your chosen platform for keeping the position open overnight. This fee will be deducted from your account balance and subsequently charged on a daily basis.

With this in mind, you need to check how much your chosen platform charges. This is usually expressed as a percentage and multiplied against your stake. The more you stake and the higher the leverage you apply, the more you will pay.

Being able to trade forex online and make consistent profits is a difficult task. This is especially the case if you are a complete novice in the space. As such, you'll want to see if your chosen forex platform offers a selection of tools and features that can take your currency trading efforts to the next level. As we covered earlier, being able to make a living by trading forex without a sizable amount of capital can be challenging. This is because you will be targeting very small profit margins - especially if you're looking to day trade.

As such, if leverage is something that you require, be sure to check whether your chosen forex trading platform offers this. Once again, your limits will be determined by your country of residence - with the UK, Europe, and several other regions capped to The best forex trading platforms give you access to many order types. This will allow you to trade forex online in a risk-averse manner. The best forex brokers offer automated tools.

In the case of eToro, this comes in the form of a Copy Trading tool that allows you to mirror the buy and sell orders of an experienced currency investor. In other words, every time your chosen investor places a forex trade, the exact position will be mirrored in your own account.

The key point is that the size of your stake will be proportionate to how much you decide to invest into the eToro trader. As per the above, the Copy Trading tool at eToro allows you to actively buy and sell currencies without you needing to lift a finger. This is great for newbies or those strapped for time. An additional way to trade forex online in an automated manner is to opt for an EA Expert Advisor. Otherwise referred to as a 'forex robot' the EA is a piece of software that has the ability to trade on your behalf.

Unlike the Copy Trading tool at eToro, forex EAs are based on pre-programmed algorithms. This means that it has the capacity to scan the forex markets 24 hours per day, 7 days per week. In order to benefit from an EA, you need to sign up with a trading platform that supports MT4. Many of the best forex trading platforms discussed on this page offer this. Then, it's just a case of installing your forex EA into MT4 and activating it. To ensure that you stay had of the game at all times, it's best to choose a forex trading platform that offers alerts.

Even better, these alerts should be delivered to your mobile phone in real-time. For example, you might receive a notification if a major forex pair breaches a key residence line. Or, the platform might notify you when a news story breaks that could influence the future price of a currency pair. Either way, the best forex trading platforms ensure that you never miss out on important fundamental and technical events.

If you are just started out as an online forex trader, it's best to choose a platform that can help you improve your knowledge of the industry. For example, eToro offers everything from forex trading guides and videos to weekly webinars. In the case of research, the best forex trading platforms offer financial news and market insights. This is great for keeping abreast of key market developments and can really help with your trading decision-making process. In terms of technical data, the best forex trading platforms offer advanced chart reading tools.

This should include customizable screens, technical indicators, and chart drawing capabilities. The forex trading industry moves at an alarming pace - with exchange rates changing on a second-by-second basis. As such, you'll want to ensure that your chosen forex trading platform offers a great end-to-end user experience.

For example, how easy is it to find your chosen forex market, and are there any difficulties in placing orders? When we went through the research process ourselves, we found that there is often a huge difference in how user-friendly a forex trading platform is.

For example, the likes of eToro and Forex. com are really simple to use - which is the case on the desktop version and mobile app. However, some platforms - such as TD Ameritrade, are a lot more suited to seasoned forex pros. This is because it TD Ameritrade forex trading facility is packed with advanced functionality tools and features.

While this might be great for experienced traders, it might be overwhelming for beginners. We briefly mentioned forex demo accounts earlier on this page -and for good reason. The best forex trading platforms offer demo accounts that mirror real trading conditions. This is great for learning the ropes of a complex forex trading scene - as you can keep practices until you are ready to risk your own money.

Take note, some forex trading platforms put a time limit on your long you can use the demo account facility - such as 30 days. The top forex trading platforms that we came across offer a huge selection of everyday payment methods. This makes the deposit and withdrawal process really simple. For example, eToro not supports instant deposits in the form of debit and credit cards, but e-wallets, too.

However, some of the forex trading platforms that we reviewed only accept bank transfers. If you are using a platform based in your country of residence, you might still benefit from an instant deposit.

But, in a lot of cases, it can take several days for bank transfers to arrive. This means that you can speak with a support agent in real-time without needing to pick up the telephone. At the other end of the spectrum, some of the forex trading platforms we came across only offer support via email. This means that you might need to wait several hours to get a reply.

If you've read through this guide up to this point, you should now know what it takes to find a forex trading platform for your needs. All that is left to do now is place your first forex trading order. To ensure you know what this entails, we are going to walk you through the setup process is commission-free platform eToro. Even if you want to use eToro to trade via the demo account, you will still need to open an account. This does, however, take just a few minutes. All you need to do is visit the eToro website, click on 'Join Now, and follow the on-screen instructions.

You'll need to provide some personal information, contact details, and your national tax number. As a regulated forex trading platform, eToro is required to verify all new account holders. Once again, this takes just a couple of minutes at eToro and will require the following two documents:. Once your deposit has been processed, your can search for the forex pair that you wish to trade. In our example, we are looking to trade the Euro EUR against the Swiss franc CHF.

As such, we enter 'EURCHF' into the search box and click on the result that pops up. You can also select the exact price that you want your forex trade executed at. To do this, click on the 'Trade' button at the top right-hand side of the box and select 'Order'. Then, enter your desired entry price. You can also enter stop-loss and take-profit orders by clicking on the respective button and entering your chosen exit price.

One of the most important decisions that you need to make when trading forex online is that of the platform you decide to sign up with. After all, you will be risking your hard-earned money - so you need to ensure the provider is regulated by a reputable body. You also need to ensure the platform offers your chosen forex trading pairs and allows you to enter positions in a cost-effective manner.

After reviewing dozens of providers, we found that the best forex trading platform in the market right now is eToro. When looking at forex trading fees - you need to consider commissions and spreads. We found that eToro is the best-priced forex trading platform, as the provider charges no commissions and offers tight spreads on most of its FX markets. If your main priority is having access to heaps of markets - our CMC Markets forex trading platform review found that the provider offers more than pairs.

If you are looking to access the multi-trillion-dollar forex trading market for the first time - you might want to consider using eToro. The popular online platform was built with newbies in mind, making it ideal for those of you with little to no experience. All of the forex trading platforms discussed on this page are safe - as they all hold at least one license with a reputable financial body. Unfortunately, there are also forex trading platforms active in the online space that operate without the regulatory remit to do so.

As such, always tread with caution. Some forex trading platforms make money by charging a commission. Others make money from the spread - which is the gap you see between the buy and sell price of your chosen forex pair. Forex trading platforms can also make money by charging fees related to deposits, withdrawals, overnight funding, and inactivity.

eToro allows you to deposit and withdraw funds with Paypal. It also supports Skrill and Neteller. The best forex trading platform for US residents is arguably Forex. This heavily regulated platform offers over 80 FX pairs - all of which can be traded commission-free. Kane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology. Now based in Malta, Kane writes for a number of platforms in the online domain.

In particular, Kane is skilled at explaining complex financial subjects in a user-friendly manner. Kane has also written for websites such as MoneyCheck , InsideBitcoins , Blockonomi , Learnbonds , Buyshares and the Malta Association of Compliance Officers.

Home » forex. Best Forex Trading Platform — Cheapest Platforms Revealed. Kane Pepi Pro Investor. Updated: 13 July Fact Checked. In This Guide 1 Top Forex Trading Platforms 2 How to Choose the Best Trading Platform for You 3 How to Start Forex Trading 4 Conclusion 5 eToro - Overall Best Regulated Forex Trading Platform 6 FAQs.

Featured Broker. Visit Site. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

Mobile App Rating. FX Pairs. Additional Fees. Rolling fee. Conversion Fee. Trading Platforms. Raw Materials. Additional Features. Islamic Account. Automated Trading. Funding Methods. Bank Transfer. Credit Card. Sepa Transfer. Visit eToro Now. Cons: Not suitable for advanced traders that like to perform technical analysis. Cons: KYC process is a bit long-winded.

Visit Forex. com Now. Fee Amount Stock trading fee Variable spread Forex trading fee Spread, 1. Cons: CFDs only. Visit VantageFX Now. Visit FXCM Now. Visit TD Ameritrade Now. Visit IG Now. Cons: Does not support US traders. Visit FXTM Now. Visit XTB Now. Cons: 2. Visit CMC Markets Now. Open Account. Trade Now. Which forex trading platform charges the lowest fees? Which forex trading platform offers the most currency pairs? What is the best forex trading platform for beginners? What is the best forex trading platform for US residents?

About Kane Pepi. About Kane Pepi Kane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology. View all posts by Kane Pepi. Latest Trading News More News.

Tech Companies Laid off , Employees in Jastra Kranjec 1 week Ago. Find The Best Broker For You Best UK Stock, Forex, CFD, Crypto, Social or Day Trading Platform that meets your needs. Crypto Trading Platforms Automated Trading Platforms Best Day Trading Platforms Best Trading App Commodity Trading Platforms Forex Brokers NFT Platform Stock Brokers.

FCA, CySEC, ASIC. FCA, CySEC, ASIC, CFTC, NFA. Stock trading fee. Variable spread.

The best forex trading platforms for US traders give a top UX with easy trading, good trading tools and fast execution. We chose the 6 best platforms and recommend a suitable broker based on trading accounts, spreads and products. 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. Laura is a freelance content writer focused on financial and legal technology, decentralized finance, cryptocurrency and related topics.

Prior to beginning her writing career, she worked as an international disputes lawyer specializing in finance and construction cases in Paris, New York and Dubai. She holds degrees in law from Queen Mary University of London in Paris LLM and New York University School of Law JD , as well as assorted other diplomas in Literature, French and Philosophy from New York University MA and the University of Georgia - Athens BA Hons.

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.

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. Choosing the right forex trading platform will have an outsized influence on the trading experience you will have. If you are going to trade for hours on end, you will want a platform that has a good UX experience, a pleasing interface and reliable technical and analytical tools.

In addition to a good platform, it also helps to choose the right broker for your needs. This page looks at the best US Forex trading platforms and then recommends a broker that offers this platform. Dow Jones Select FX Select gives US forex traders a high-level, real-time view of the financial markets, and the platform includes extensive forex trading education materials to help you develop a trading strategy or improve overall performance.

Partner agreements with specialist software providers give OANDA Trade users options for even more special features via APIs. Access to multi-charts online trading software means professional-level technical analysis with over trading strategies and indicators, as well as more than 20 data feeds from 10 brokers.

The CQG FX app provides access to the most recent market data and is backed with robust charting and analysis tools.

US clients of OANDA who prefer to trade on MetaTrader 4 have the option to do so via a proprietary plugin offered with two designated account types: MetaTrader 4 and MetaTrader 4 Premium. Specifically, US forex traders benefit from the following features when trading via MT4 with OANDA:. Looking for the most trusted and reliable forex trading platform? Look no further than MetaTrader4.

The platform also stands out from the competition for its emphasis on customization. Developed by MetaQuotes back in , MetaTrader 4 is also amongst the oldest trading platforms developed specifically for online trading by retail investors. The platform boasts an extensive range of technical and drawing tools to help with market analysis, as well as sophisticated EAs.

Write your own indicators or rely on pre-written scripts. MetaTrader 4 has hundreds of free and paid EAs available. In addition to this. Need even more custom options? MetaTrader 4 allows you to integrate a range of third-party software solutions to do even more with the platform.

The Spread Only Pricing account has variable spreads that start at. Core Pricing account holders benefit from a tighter minimum spread of. Americans trading forex with OANDA can choose from 68 currency pairs, including ten majors and 58 minors, exotics and crosses.

With advanced technical analysis tools, tight spreads and a wide range of tradable assets, OANDA is an excellent forex broker for both experienced and beginner forex traders. With 71 forex pairs, IG Markets has one of the most comprehensive range of currency pairs of all brokers in the US.

US forex traders also pay no commission when trading on a standard account. Spreads start from 0. Easily customizable, IG offers users the option to create and save preferred layouts, as well as create custom watchlists. Where IG really stands out, however, is its charting options.

Built using HTML5 the best technology for most browsers , the platform has at least 28 technical indicators and 19 compatible drawing tools for in-depth analytics. You can even trade directly from the charts. An infinite number of timeframes are available, and traders can compare up to four in a single chart.

Charts can also be split into multiple frames to better help you visualize different markets and include extra monitoring tools. Along with watchlist and price alerts, US forex traders can opt to integrate third-party solutions like Autochartist or PIA First for trading signals. IG also offers US clients significant advantages when it comes to execution speeds. The forex market changes rapidly, and staying ahead of the curve in a high-risk, high-volatility environment can help avoid slippage which can mean the difference between big profits and big losses.

Research tools are also available such as economic calendars and Twitter. If you like your news streamed then Reuters is also available. For those who appreciate the benefits of an IG trading account, but prefer a more powerful interface for trading, IG Markets has a few options. If your forex trading strategy includes extensive chart trading and automation, then ProRealTime is a worthy alternative. With over indicators and an unlimited number of timeframes, ProRealTime has the depth and breadth of information required by those who need a rich market analysis experience.

ProRealTime also makes automation accessible via its no-code solution, as well as advanced backtesting. Note that, due to state-level regulatory restrictions, IG is not available to residents of Arizona or Ohio. There is no minimum deposit requirement to open an account. At IG, US account holders will benefit from competitive spreads across over 70 currency pairs including:. Leverage with IG extends to the maximum permitted by the Commodities Futures Trading Commission CFTC and the National Futures Association NFA : for major currency pairs, and for minor pairs.

A great choice for beginner traders thanks to its intuitive interface and award-winning proprietary platforms, IG also has everything a more advanced trader could want when it comes to drawing tools and indicators. Traders who take the time to look beyond the no-frills interface will find a surprisingly powerful collection of analytical tools. Those on a budget will likewise appreciate the tight spreads and more than reasonable trading costs and ultra-fast execution thanks to an ECN-like environment with STP.

View Forex. com has developed some of the most powerful, flexible analytical tools available. US forex traders enjoy access to the same comprehensive suite of charts and calculators as their international counterparts, including automated market analysis via Trading Central, Forex.

Suitable even for professional traders, Forex. Users have the option to save preferred chart types and variables for future use, as well as compare multiple financial markets with overlays. 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.

Review Of eToro. The stock markets will always go through trends — both northwards and southwards. This is usually a variable commission that is multiplied against your stake. For example, UK and European traders will be capped to Interactive Brokers provides users with a desktop platform comes packed with an abundance of supported markets and trading tools. The list of banks and securities firms authorized by FINMA can be accessed here.

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