What Is The Best Forex Trading Platform – Forex and CFD trading is the fastest growing investment opportunity in the world. On average, over $6.6 trillion is traded in the foreign exchange and CFD markets in a single day. Therefore, it is a great investment opportunity for those who want to earn extra income.
To participate in Forex and CFD trading, you need to create a trading account with a reputable broker who will provide you with a trading platform where you can trade. There are now many Forex and CFD brokers in the world and you need to choose wisely which type of broker you want to use. Besides making sure you don’t fall into the hands of a fraudulent broker, you should also make sure that the broker offers the service you are looking for.
What Is The Best Forex Trading Platform
To find a good Forex broker and a good CFD trading platform, you should consider the following factors:
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Regulated brokers are generally very safe because they are specially authorized, which means they conduct business in a way that does not compromise the safety of traders’ funds.
While you can find unregulated brokers that are still good, going through a regulated broker will keep your funds safe. However, cryptocurrency CFD brokers are largely unregulated as the industry is still developing and most countries still regulate cryptocurrency exchanges.
A good Forex and CFD broker provides traders with an easy-to-use trading platform. Also, the seller account page should be easy to navigate.
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It is always very important to know what traders who have used the broker think about it. In most cases, you’ll find this in online reviews. A good broker will get good reviews from users. Be wary of any fraudulent practices by internet users.
Different Forex brokers offer different trading accounts with different features. Among the important features are the minimum required deposit, the minimum allowed lot size and the maximum allowed size.
If you are a beginner, you should choose a broker with a trading account that allows you to use the highest leverage, the lowest deposit and the smallest size.
In addition to the minimum deposit and withdrawal amounts, you should also check the deposit and withdrawal methods accepted by the broker to determine if you can easily deposit and withdraw funds into and out of your trading account.
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Automated trading is a great way to simplify your trading experience. If you are looking forward to using this strategy in your trading, you will need to find a broker that will allow you to trade automatically, especially using an EA.
In Forex trading, transaction fees are defined as spreads and commissions, while cryptocurrency CFD transaction fees are defined as transaction fees.
The lower the forex spreads and fees, the lower the transaction fees. The lower the cryptocurrency CFD trading fees, the lower the transaction fees.
One of the oldest cryptocurrency exchanges in the world. It was initially launched in China but has since moved its headquarters to Hong Kong and has additional offices in London, UK. As a cryptocurrency CFD exchange, it is not yet regulated as the government is still working on regulations to regulate cryptocurrencies.
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It offers cryptocurrency futures trading and allows leveraged and margin trading. It has the highest leverage in cryptocurrency futures trading at 150x.
Since its launch in 2011, it has a solid reputation and is considered one of the best cryptocurrency exchanges to trade ETH, BTC, and other future contracts. It’s never been involved in major hacks, which means it’s safe.
It also has very competitive transaction fees ranging from 0.1% to 0.2%, which is lower than the usual 0.20% – 0.25% of cryptocurrency exchange transaction fees.
XM Group (XM) is a group of managed online Forex CFD trading brokers that are best suited for both experienced and novice traders. The brokerage group includes Trading Point of Financial Instruments Pty Ltd, regulated in Cyprus, Trading Point of Financial Instruments Pty Ltd, regulated in Australia, and XM Global, regulated by the International Financial Services Commission.
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Brokers offer trading through the MT4 trading platform. It has a demo account and four live trading accounts namely Micro, Ultra Low, Standard, Zero and Stock. Each account has different features and different minimum deposit requirements.
It charges no commission and the spread is just 1 pip. It also allows you to hedge and automate trades.
It offers one demo account and three live trading accounts, namely Standard Account, Active Trading Account and Professional Trading Account.
Headquartered in Cyprus, eToro is a regulated broker. It is regulated by the Cyprus Securities and Exchange Commission (CSEC), the Financial Conduct Authority (FCA) and the European Securities and Markets Authority (ESMA).
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This is a purpose-built web trading platform that traders can access from their desktop and mobile (Android and iOS).
FxPro Group Limited has a group of regulated Forex CFD brokers namely FxPro UK Limited, FxPro Global Markets MENA Limited, FxPro Financial Services Ltd and FxPro Global Markets Ltd.
It offers one demo account and four live trading accounts, namely FxPro MT4, FxPro MT5, FxPro cTrader and FxPro Market. The actual trading account depends on the trading platform selected by the user. Forex, foreign exchange, foreign exchange markets, currency trading – whatever you call it, this high potential market is unique in many ways.
Not only is it highly liquid, it is open 24 hours a day globally and has more trading volume than any other market. The Forex market is a competitive and open market because you only need funds to enter.
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Its flexibility, and the success of countless seasoned entrepreneurs, proves that there is more than one way to eat elephants.
However, one of the biggest drawbacks of the Forex market has always been its high time consumption. Since currency values are constantly changing, traders often need to keep track of these changes in order to focus on good exchanges.
As for automated forex trading software, today I am going to write about the 3 best forex trading software.
Benzinga’s leading Forex broker FOREX.com takes the top spot with its MetaTrader4 platform, training, tools and more. MetaTrader 4 focuses on the Forex market and automated trade execution. It supports thousands of trading robots and technical indicators.
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Its parent company, MetaQuotes, pioneered the development of foreign exchange trading and foreign exchange trading platforms. Although it is not automated trading software, it offers the largest selection of trading applications in the world with up to 1700 different trading robots.
Many EAs supported by MT4 are available for rent and purchase. So, you can try the product for one month and one year.
MT4 and its more stock and futures market-focused sibling MT5 are available online through several Forex brokers, but FOREX.com is our top pick. The company will soon support MT5.
The trading platform provides a wealth of resources for traders focused on futures and foreign exchange. Although the platform offers fewer than thousands of options on MT4, Ninjatrader’s 100+ technical indicators and automated trading options have received a lot of positive feedback from traders.
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In fact, ninjatraderecosystem.com has a dedicated community of resources that allow you to buy trading robots that execute orders, receive daily education and training, and customize your trading indicators, signals and strategies.
The market playback feature also allows traders to download historical data and copy trades for future practice. NinjaTrader has received many accolades during its development. Last year, it was named the best trading software in the 2017 Stocks and Commodities Readers’ Choice Awards.
Although it cannot compete in size with MT4 and MT5, which together control almost half of the personal consumption market, many traders have made the leap from MT4 to NinjaTrader because of its graphical quality and advanced features. Expand access to multiple data streams simultaneously.
However, NinjaTrader’s advanced offers and advanced tools are not suitable for beginners. Instead, the platform targets clients who are already professional traders familiar with business terminology, presentation and efficiency.
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So, if you are new to it, NinjaTrader might be a platform worth considering as you gain experience. NinjaTrader always provides free advanced charts, strategy analysis and trading patterns.
As for payment services, NinjaTrader offers several options: you can rent the program for $180 for three months; up to $330 for six months; or $600 per year. You can buy the platform for $999 or not buy/rent the platform and trade through the broker of your choice, but this will result in higher commissions.