Online Forex trading can be a excellent way to enjoy a great degree of liquidity when compared to other marketplaces. Furthermore, the very fluid nature of this sector is suited for those who wish to capitalise on present market movements without being tied to a traditional share or security. There have been a number of online trading platforms to emerge over the years and naturally, some are better than others. We have compiled a list of five trusted and regulated brokers that offer five custom trading platforms which we consider to be popular, efficient and intuitive.
Known for spreads as tight as 0.9 pips and impressive leverages of up to 400:1, ETX Capital ranks high within the world of online Forex trading. Commodities, indices and binary options are included alongside currency pairs. Free educational trading courses and welcome no deposit bonuses $20 are a few other advantageous features. However, many astute traders choose ETX Capital due to their efficient electronic platforms. MetaTrader 4 and TraderPro are both options; ideal for those who wish to enjoy an effective system without sacrificing their ability to access news, charts and social trading tools.
For a detailed look, read our review of ETX Capital.
CMC Markets has been considered to be a major player within the industry, and for good reason. One very interesting point to note here is that with spreads as low as an incredible 0.7 pips, this platform is quite profitable. Equally impressive margins serve to mitigate many of the risks associated with margin trades (common within the Forex marketplace). CMC Markets also employs their own proprietary trading software and many believe that it is better than the standard MetaTrader 4. A handful of features available within this software include:
- More than 80 technical indicators and drawing tools.
- Immediate access to social trading portals.
- Live news and analyses.
Over 330 spot and forward Forex pairs are available and this is an excellent benefit for anyone who wishes to enjoy a greater degree of flexibility. On-the-go trading is also a reality thanks to native applications dedicated to Android and iOS operating systems. CMC Markets is highly recommended for those who have been searching for a well-rounded platform with an impressive degree of reliability.
This trading company is based out of the United Kingdom and has been in constant operation since 2010. IronFX is therefore one of the oldest and most trusted systems on the market. Affiliate trades are welcome and forex traders can enjoy five types of accounts (Micro, Premium, VIP, Affiliate and Affiliate Plus). Spot metals, futures and shares are available alongside Forex positions. High leveraged positions of up to 1:500 can help to add even more profit to any active position but can also increase the losses experienced. The minimum spread on their currency pairs is zero pips. Bonuses of up to 40 per cent are available when opening a new account and Iron FX offers a social media trading system which can allow traders to access real-time data from other professionals. Free VPN hosting, a refer-a-friend bonuses and live trading competitions are some other options that members can enjoy. Reasonable margins and guaranteed stop-loss trades are other tools which can help to lessen the risks of a more liquid position.
For a detailed look, read our review of IronFX.
Offering a minimum deposit of only $5 dollars and leverages as high as 888:1, XM is without a doubt another highly recommended Forex trading platform. XM was founded in 2009 and it is regulated to operate in numerous jurisdictions (NOT within the United States). This company also makes use of the popular MetaTrader 4 platform and seven different variants of this system will suit the needs of nearly any trader. These options include:
- XM Web Trader 4
- XM iPad Trader
- XM iPhone Trader (varieties for Android and Windows operating systems)
- XM MAM
- XM MetaTrader 4 Multi-Terminal
- XM MetaTrader 4
- XM MetaTrader 4 (for Mac)
Automated algorithms can help to prevent any trade from developing a negative balance and comprehensive charting capabilities are able to provide forex traders of all levels with an ability to fully appreciate the movements of any currency pair over time.
For a detailed look, read our review of XM.
One interesting aspect of ATC Brokers is that as opposed to exploiting a bid-sell spread, this broker charges a flat commission on each trade. This is currently $0.40 dollars on a lot size of 10,000. Hedging, scalping and partial-lot contracts are all allowed within this electronic platform. It should also be noted that as opposed to many other online Forex systems, ATC Brokers is available to clients within the United States. However, a minimum deposit of $5,000 dollars is required to open an account. This is offset by the use of both MetaTrader4 and Trading Station as efficient platforms. While the spreads are constantly fluctuating, the fact that ATC Brokers does not include any mark-ups is one of the reasons why these figures are some of the lowest in the business. For stability, all margins are set at a ratio of 50:1. A final interesting feature is that ATC Brokers has developed an electronic system known as TFA Sniper. Some of the advantages of this platform are:
- Automated trading
- Fibonacci Analyses
- Extremely clear entry levels
- Built-in trade managers
With impressive levels of customer service and numerous training opportunities, ATC Brokers is definitely worth a closer look.
These are five extremely popular Forex trading platforms on the market today. Still, we should never fail to mention that certain positions are associated with high levels of risk and traders should never execute any trade that cannot be lost. The Forex markets are highly liquid and thus, their volatility can also be high. The use of these electronic brokers can help to minimise such risks while maximising the chances of accruing a substantial amount of profit.