Its tools should be user-friendly and allow you to set your leverage. You can also use different order types and leverage in your forex trading. Also Read: FxPro cTrader: WebTrader and Direct MT4 Broker Review. IG is the industry pioneer of forex and CFD trading. And IG is a good choice for investors of all shapes and sizes. This software is ideal for beginners. A lot of traders have used eToro to trade. TD Ameritrade is another good choice.

The TD Ameritrade platform is chock full of advanced trading tools and offers many useful resources for performing fundamental and technical research. Its trading platform covers over markets in 33 countries, and it includes thousands of financial instruments.

Also Read: What is Copytrade eToro? You can trade forex and currencies of your choice from the comfort of your home. The National Futures Association website even provides educational materials on the risks with the most popular and the best forex trading platform in the US, UK, Japan, Korea, Europe, etc. Also Read: What is Spread Broker? This is the Definition and Role! HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.

Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose.

Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. ADVISORY WARNING: ForexMedia News provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information.

None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and ForexMedia News specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice.

ForexMedia News expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results. Check out our guide to trading forex for beginners here.

The next step will be deciding on your trading budget. This is especially important given the risks involved in trading forex from a margin account.

Forex brokers typically offer a range of contract sizes so you can fine-tune the size of your trade — which will determine how much risk you are taking for a given profit target. In this case, your potential risk will be limited — but so will your potential rewards.

For most beginners, trading forex with an amount of capital that you can afford to lose can be a great way to learn with less risk, and can be of value if you focus on the percentage returns rather than their dollar value. IG takes first place in our Annual Review as the best forex broker, with available currency pairs and the ability to trade CFDs and forex options, traders have plenty of choices.

IG is the only broker that is regulated in both Switzerland and the U. expand What does it mean to be the biggest forex broker? What can be considered the largest forex broker may vary depending on the time period used to measure size.

Important factors to consider when gauging the size of a forex broker are the assets under management, number of clients, and market capitalization valuation for public companies. Here are the top 10 brokers by forex and CFD trading volume according to data compiled by Finance Magnates during the third quarter of data excludes Japan due to the abnormally high trading volumes known to come from Japanese brokers :.

CMC Market's Next Generation platform comes with a massive selection of nearly 10, tradeable instruments. It delivers a terrific user experience, as well as advanced tools, comprehensive market research, and an excellent mobile app.

Hands down, the CMC Markets Next Generation trading platform is a market leader that will impress even the pickiest of traders. The new Dynamic Trading tool allows you to place multiple trades simultaneously, which was a nice innovation by CMC Markets this year. If you're a fan of mobile platforms — or trading forex on the go — see our picks for best forex trading apps here.

What do you value most in a forex broker? Maybe you want to trade forex on the go. You might be looking for the most cost-effective forex brokers. Or maybe you are a beginner forex trader who is just getting started. With a wide range of forex brokers comes a wide variety of features and specialties. IG offers the most tradeable CFDs in the industry, 19, CFDs, or "contracts for difference," enable traders to speculate whether the price of a stock, forex pair, market index, or commodity will go up or down without taking ownership of the underlying asset.

Alongside nearly 10, CFDs, CMC Markets offers the most tradeable currency pairs, with pairs that can be quoted both ways i. As a highly-trusted and regulated global brand, Interactive Brokers IBKR provides everything professional traders might need, from advanced trading tools and platform features to competitive pricing across a wide variety of markets, as well as connectivity to over global exchanges.

In addition to competitive spreads and low commission-based pricing for forex, Interactive Brokers provides more third-party research than any other broker. Interactive Brokers continues to innovate its platform offering, such as with its new Impact app for environmental, social, and governance ESG investing, alongside the related Impact dashboard available in its Trader Workstation TWS desktop and WebTrader platforms.

Professional client status : In today's highly regulated forex world, traders who want to maximize their margin leverage must apply and obtain ESMA's professional client status with their broker.

Traders designated as Professionals in the EU do not receive negative balance protection and other consumer safety mechanisms such as eligibility for compensation schemes in the event of a broker's insolvency.

To determine the best forex brokers for professional traders, we broke down each broker's active trading program, and compared all available rebates, tiers, and all-in costs. Trading platforms were then tested for the quality and availability of advanced trading tools frequently used by professionals. Here are three of the most important factors to keep in mind when choosing an online broker for forex trading. Not sure how to go about choosing a forex broker?

Check out our Forex Broker Compare Tool to compare dozens of the biggest forex brokers in the industry and analyze their top tools and features. Our Compare Tool is fed by data gathered by our expert researchers for our forex broker reviews , so you can feel confident you have the most up-to-date information at your fingertips.

To see an intuitive, comprehensive list of highly regarded regulatory agencies, check out our Trust Score page. Also, be sure to check out our in-depth reviews of forex brokers — we detail the regulatory status of each individual forex broker across the international forex landscape.

Here are the Overall rankings for the 39 online brokers who participated in our Annual Review, sorted by Overall ranking. Was this helpful? Yes or No. At ForexBrokers. com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers.

Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies click here to learn about how we calculate Trust Score. We test all available trading platforms for each broker — whether they are proprietary or come from third-party providers — and evaluate them based on a host of data-driven variables.

All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running macOS Ultimately, our rigorous data validation process yields an error rate of less than. For a full explanation and accounting of our research and testing process, please click here to learn more about how we test.

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.

Once you have downloaded your MT5 Forex trading platform, you will need to download Admirals' MetaTrader 5 Supreme Edition and install this package over the original MetaTrader 5 installation.

CFD trading platforms let you trade hundreds of financial instruments without ever owning the underlying asset. Instead, you are looking to predict an asset's price direction — commodities, stocks, forex or something else— will fall or rise. Some key points to consider when choosing the best online CFD trading platform are the available markets, payments, commissions, and regulation. Some of these are determined by your broker, not your platform, so it is equally important to find a broker with agreeable terms.

MetaQuotes Corp software is one of the best online CFD trading platforms available because both MetaTrader 4 and MetaTrader 5 offer charts and broker integration for one-click trading, as well as many other features such as:.

Admirals offers trading on both MetaTrader 4 MT4 and MetaTrader 5 MT5 , as well as MetaTrader WebTrader which allows trading directly from your browser. One of the main differences between MetaTrader 4 and MetaTrader 5 is the range of markets available to trade. If you wish to trade oil, gold, silver, natural gas, wheat and the like, you'll need one of the best online commodity trading platforms. As well as offering access to the commodities markets you wish to trade, the platform and broker you choose must also offer attractive fees and commissions, as well as a sufficient range of trading indicators and tools.

MetaQuotes Corp software is also one of the best online commodity trading platforms available. With their MetaTrader 4 or MetaTrader 5 trading platform and a live trading account with Admirals, traders get access to the markets, tools, data, low fees and low spreads that can help them achieve success using an online commodity trading platform.

With Admirals, you have access via CFDs to sixteen of the largest commodities traded in the commodity market, plus 10 CFDs on commodity futures. Here are the commodity CFDs currently available:. Additionally, when trading commodity CFDs via a live account with Admirals, traders enjoy the following benefits:.

Having the right platform and a trusted broker are hugely important aspects of trading commodities. Admirals is an award-winning broker that offers the ability to trade on commodities via CFDs, not to mention other markets like Forex, Stocks and ETFs and much more.

This is all possible via the MetaTrader 4 and MetaTrader 5 online trading platforms. To get your FREE download of MetaTrader 5, click the banner below. In recent years, Spotware has developed 'cTrader' as a competing trading platform for Forex traders.

While this Forex platform does offer advanced charting and trading features, similar to the MetaTrader platform there are some differences:. As this platform is available in a web browser, there hasn't been a strong emphasis placed on the development of mobile apps until recent times. At the moment, cTrader is supplied for Android and iOS devices only. Whilst this probably does cover the majority of traders, it does hinder those using a Windows phone.

MetaTrader 4 and 5 are certainly the best online Forex trading platforms for Forex mobile trading. The NinjaTrader trading platform has been around since and is a Forex platform designed for active forex, futures and stock traders. While the platform offers advanced charting, automated strategy development and trade simulation, those who wish to execute trades from their platform must purchase a lifetime licence or lease the platform on a quarterly or annual basis.

This factor may disqualify this Forex trading platform from some traders' lists of the best online forex trading platforms for beginners. One of the main reasons MetaTrader platforms are so popular and commonly used is the fact they are free to the trader via their broker.

And, in some cases such as with Admirals, advanced trading tools like the Supreme Edition plugin also come at no additional cost. Furthermore, NinjaTrader acts primarily as a trading platform and is not a market data provider.

This means in order to receive end-of-day or real-time market data, users need to connect their platform to one of the market data providers NinjaTrader operates with, such as Google Finance or Kinetick. The eSignal trading platform is a Forex platform geared towards advanced traders who enjoy fully customisable features.

While the platform offers all the standard features expected of a modern trading platform, users can create their own trading strategies or market screeners through the coding language. The platform offers advanced drawing tools such as time and price squares and Gann boxes, as well as the ability to view up to symbols at one time.

However, to access streaming and real-time data feeds, traders need to connect their platform with one of eSignal's supported brokers. This means users will have to lease the platform from eSignal for a monthly or annual fee. This factor may exclude this Forex trading platform from some traders' list of the best online trading platform for beginners in the UK. The ProRealTime trading platform is a technical analysis Forex platform software developed in France by IT-Finance.

The platform is unique as it is a web-based software that is backed up on the company's cloud network. The platform itself offers a wide range of advanced charting and analytical tools, as well as the ability to create customised market scanners and trading strategies using their ProRealCode language.

However, users must pay a software licence to use the platform. On top of this, there are additional fees to access real-time market data. The advantage of online trading platforms is that people can trade the same securities from any location in the world. The exceptions here are countries where there are restrictions limiting access to online trading, or trading in general.

Written by Steven Hatzakis , Blain Reinkensmeyer Edited by John Bringans Fact-checked by Joey Shadeck. The ForexBrokers. com annual forex broker review six years running is the most cited in the industry. With over 50, words of research across the site, we spend hundreds of hours testing forex brokers each year.

Here's how we test. Are you looking to speculate that the Euro EUR currency will go up in value against the U. Dollar USD? The forex market is the largest and most liquid market in the world, representing every global currency with trading conducted 24 hours a day, five days a week. To trade forex, you need a reputable online broker.

Trading with a trusted forex broker is a crucial factor for success in international currency markets. As a contract for difference CFD trader or forex investor, you may have specific needs related to which platform, trading tools, or research requirements you have.

Understanding more about your investment style needs can help determine which forex broker will be best for you. Each year, our team here at ForexBrokers. com spends five months testing the biggest names in foreign exchange and assembles a guide to the best forex brokers for forex and CFDs trading. Here are our findings for 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. IG offers the ultimate comprehensive trading package, featuring excellent trading and research tools, industry-leading education, and an extensive range of tradeable markets.

Read full review. Saxo Bank is an exclusive multi-asset broker with brilliant research and a superb trading platform experience — as well as a stunning selection of over 40, securities.

CMC Markets is well-trusted across the globe, and delivers a terrific trading experience thanks to its excellent pricing and selection of over 12, tradeable instruments. Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.

For traders in the U. com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. It offers a wide range of markets and provides an impressive suite of proprietary platforms — alongside limited access to MetaTrader. As a trusted multi-asset broker, XTB offers outstanding customer service, a wide variety of forex and CFDs, and an excellent overall trading experience.

Backed by StoneX Group, City Index is a trusted brand known for its versatile trading platforms, excellent mobile app, diverse market research, and extensive range of tradeable markets. eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors — or receive exclusive perks for sharing their own trading strategies.

For the ForexBrokers. com Annual Review , all online broker participants were assessed on variables across seven primary categories. Here's how we tested. Alongside primary categories, ForexBrokers. com ranks brokers by the most popular investor categories. Finally, each year ForexBrokers. com honors the brokerages who go above and beyond in the areas that matter most to investors. Regulated and trusted across the globe, IG offers traders the ultimate package of excellent trading and research tools, industry-leading education, comprehensive market research, and an extensive list of tradeable products.

This fantastic all-round experience makes IG the best overall broker in CMC Markets is a globally-trusted broker that delivers a terrific offering for traders thanks to notably low pricing, nearly 10, tradeable instruments, and the Next Generation trading platform, which comes packed with quality research and innovative features such as its Dynamic Trading portfolio tool.

We've conducted thorough testing of the best trading platforms offered by dozens of the top forex brokers in the industry. A forex broker is a company that is licensed or considered exempt by a national regulator to grant you — as a retail or professional client — the ability to buy or sell foreign currencies, by way of an online trading platform or over the phone known in the industry as voice broking.

A forex broker may offer you the underlying currency, or a non-deliverable spot contract or derivative such as a contract for difference, or CFD, depending on any relevant country-specific regulatory restrictions. It's important to only use brokers that are properly regulated to reduce your risk of being scammed. Yes, to trade forex you'll need to use a forex broker. You'll need to open an account and deposit enough collateral margin to enable you to place orders with your broker to buy or sell forex.

The forex broker's job is to execute your orders — either internally by acting as the principal to your trade market maker execution or by sending your orders to another market, thus acting as your agent agency execution. Your broker should be regulated and properly licensed in your country of residence or in a major financial center.

We evaluate and track dozens international regulatory agencies; click here to learn more about Trust Score. Check out our guide to trading forex for beginners here.

The next step will be deciding on your trading budget. This is especially important given the risks involved in trading forex from a margin account. Forex brokers typically offer a range of contract sizes so you can fine-tune the size of your trade — which will determine how much risk you are taking for a given profit target. In this case, your potential risk will be limited — but so will your potential rewards.

For most beginners, trading forex with an amount of capital that you can afford to lose can be a great way to learn with less risk, and can be of value if you focus on the percentage returns rather than their dollar value. IG takes first place in our Annual Review as the best forex broker, with available currency pairs and the ability to trade CFDs and forex options, traders have plenty of choices.

IG is the only broker that is regulated in both Switzerland and the U. expand What does it mean to be the biggest forex broker? What can be considered the largest forex broker may vary depending on the time period used to measure size. Important factors to consider when gauging the size of a forex broker are the assets under management, number of clients, and market capitalization valuation for public companies. Here are the top 10 brokers by forex and CFD trading volume according to data compiled by Finance Magnates during the third quarter of data excludes Japan due to the abnormally high trading volumes known to come from Japanese brokers :.

CMC Market's Next Generation platform comes with a massive selection of nearly 10, tradeable instruments. It delivers a terrific user experience, as well as advanced tools, comprehensive market research, and an excellent mobile app. Hands down, the CMC Markets Next Generation trading platform is a market leader that will impress even the pickiest of traders.

The new Dynamic Trading tool allows you to place multiple trades simultaneously, which was a nice innovation by CMC Markets this year. If you're a fan of mobile platforms — or trading forex on the go — see our picks for best forex trading apps here. What do you value most in a forex broker? Maybe you want to trade forex on the go. You might be looking for the most cost-effective forex brokers. Or maybe you are a beginner forex trader who is just getting started.

With a wide range of forex brokers comes a wide variety of features and specialties. IG offers the most tradeable CFDs in the industry, 19, CFDs, or "contracts for difference," enable traders to speculate whether the price of a stock, forex pair, market index, or commodity will go up or down without taking ownership of the underlying asset.

Alongside nearly 10, CFDs, CMC Markets offers the most tradeable currency pairs, with pairs that can be quoted both ways i. As a highly-trusted and regulated global brand, Interactive Brokers IBKR provides everything professional traders might need, from advanced trading tools and platform features to competitive pricing across a wide variety of markets, as well as connectivity to over global exchanges.

In addition to competitive spreads and low commission-based pricing for forex, Interactive Brokers provides more third-party research than any other broker. Interactive Brokers continues to innovate its platform offering, such as with its new Impact app for environmental, social, and governance ESG investing, alongside the related Impact dashboard available in its Trader Workstation TWS desktop and WebTrader platforms. Professional client status : In today's highly regulated forex world, traders who want to maximize their margin leverage must apply and obtain ESMA's professional client status with their broker.

Traders designated as Professionals in the EU do not receive negative balance protection and other consumer safety mechanisms such as eligibility for compensation schemes in the event of a broker's insolvency.

To determine the best forex brokers for professional traders, we broke down each broker's active trading program, and compared all available rebates, tiers, and all-in costs. Trading platforms were then tested for the quality and availability of advanced trading tools frequently used by professionals. Here are three of the most important factors to keep in mind when choosing an online broker for forex trading. Not sure how to go about choosing a forex broker?

Check out our Forex Broker Compare Tool to compare dozens of the biggest forex brokers in the industry and analyze their top tools and features. Our Compare Tool is fed by data gathered by our expert researchers for our forex broker reviews , so you can feel confident you have the most up-to-date information at your fingertips. To see an intuitive, comprehensive list of highly regarded regulatory agencies, check out our Trust Score page.

Also, be sure to check out our in-depth reviews of forex brokers — we detail the regulatory status of each individual forex broker across the international forex landscape. Here are the Overall rankings for the 39 online brokers who participated in our Annual Review, sorted by Overall ranking. Was this helpful? Yes or No. At ForexBrokers. com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers.

Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies click here to learn about how we calculate Trust Score. We test all available trading platforms for each broker — whether they are proprietary or come from third-party providers — and evaluate them based on a host of data-driven variables. All websites and web-based platforms are tested using the latest version of the Google Chrome browser.

Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running macOS Ultimately, our rigorous data validation process yields an error rate of less than. For a full explanation and accounting of our research and testing process, please click here to learn more about how we test.

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.

Source: MetaTrader 4 - Market Watch - Several different currency pairs opened in Mini Terminals. Simply download your MetaTrader platform. Healthy competition always benefits end-users and consumers. Below you will find a list of important factors that should be considered in your search for the best forex brokers. cTrader was way ahead of its competitors even in the early days as it incorporated all the popular order types, including:.

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