5 Best Forex Trading Platforms to Trade on

Picking a broker where you would spend most of your hours trading is very important. The theory of trading is important to know, but all of your plans can break down if the broker is not right for you (or for anyone else, for that matter).

That being said, there are hundreds of big brokers, and picking one when you don’t even know what to look for is very difficult. That’s what led you here, most likely. After some time, you would figure out what brokers are good, as well as how to distinguish good brokers from bad ones.

However, this experience would be rife with mistakes and financial loss, which isn’t ideal for your wallet and mental health. So, let’s give you a hand and see a few of the best Forex trading platforms.


5 Best Forex Trading Platforms to Trade on

A broker is a website that provides you access to the charts, trading info, and trading mechanisms that allow you to place orders and gather data about the securities. They are intermediaries between you and the market and, depending on their conditions and requirement, you can have a good time with one or suffer miserably.

Before you’re given a few examples of good brokers, let’s see what even defines a good broker:

  1. Fast execution
  2. Low fees & spreads
  3. Variety of securities
  4. Transparency.

Transparency is perhaps the most important thing because some brokers make a profit by double-crossing the traders, and even if everything else is very beneficial on a website, you’ll ultimately lose a lot of your time and money.

So, here are several good brokers. They aren’t arranged in a hierarchy, it’s just a number of really good providers arranged in random order. But they are the best Forex trading platforms there are, probably.

#1 – eToro

EToro is an Israeli provider with a large variety of assets and securities. It doesn’t just work with Forex, but also crypto, commodities, shares, as well as other markets. Admittedly, some brokers have even more markets, including ETFs, bonds, and complex assets meant for professionals.

Although variety is pretty good on eToro, and you likely won’t complain about it, the trading software is the real advantage of trading with this broker.

The trading software is crucial because, even though conditions of trading are set by the broker, the actual process is conducted through a trading interface. Most brokers use MetaTrader 4 with their own modifications. It is effective, but also notably old-fashioned and not liked by new traders.

EToro provides a few solutions for a cleaner and just as effective trading session. They are very intuitive and have a good number of indicators, features, and technical novelties. Depending on what you want, you can:

  1. Trade on their web platform, thus having all the information and capabilities right under your hand
  2. Trade on their app, thus being able to make trades wherever you want.

Pair it with a good number of securities, and you get a very versatile and comprehensive experience, and with zero commissions to sweeten the deal.

#2 – Ameritrade

Ameritrade is the broker is all about variety. While eToro is a clean, comprehensible experience with great opportunity for beginners, Ameritrade has lots of instruments, security types, and even education methods to offer the traders. They dumped a lot of useful stuff in there, to the point that it’s not easily navigable for beginners.

That’s why you should come to Ameritrade if you have some experience with Forex, or otherwise want to learn the hard way. It may not seem like a big deal to you, but if you know next to nothing about trading, you’ll understand very little of what’s going on here. The usual brokers with just a good old MT4 and a few buttons are way better.

But if you know your stuff, then Ameritrade is a source of endless possibility.

From the Technical Side, they have lots of various trading platforms and interfaces. They are different, and each has its flaws and merits. It means you’ll have to think and pick the best solution for you specifically, but it also means that you can tailor your experience down to every detail.

From the Market Side, there are lots of security types. Even some types have sub-types, and many of them have their distinct fee systems, which, again, prompt you to educate yourself.

But that’s also not a problem because Ameritrade has a bunch of good educative content meant for beginners and even more seasoned traders. It includes both info about trading in general and this broker in particular. Among the Forex trading platforms in the USA, this one is amongst the best.

#3 – Pepperstone

Pepperstone is a cleaner and simpler version of Ameritrade. It contains a lot of good things about Ameritrade, but without overexertion and the littered interface. Naturally, that also means that there are fewer features and things to trade, but there is still a lot.

There are many markets to pick from. It’s not as much as Ameritrade has to offer, but there’s a lot. It includes Forex, stock, ETFs, indices, commodities, and more. It’s not just the basic list this time – there are more complex assets fit for a professional.

Technically speaking, they only have two MetaTrader versions, as well as cTrader. These are just basic platforms. That means beginners won’t have a hard time, and the pros will be just as glad. They are efficient, easy to understand, and also highly customizable, which Pepperstone enhanced with a variety of decent tools.

It’s actually a very good selection – arguably even better than what Ameritrade has to offer (although it’s all up to debate).

They also have tons of analytical and educational content. And this time it’s not arranged into big catalogs, but instead designed for better navigation, easier reading, and a more pleasant experience in general. What Pepperstone has in abundance are good design choices. Amongst the Forex trading platforms for beginners, this one is the best.

#4 – IG Group

IG Group is a more serious approach to investments. It’s a company that gives you access to lots of insight into the markets, some advice, the latest news, as well as technology to keep your trading effective and highly automated.

It’s not for beginner investors at all. In fact, working with them is like working for them – they are demanding, but also rewarding. It’s a mutual relationship that results in you making good investment decisions by using the information provided by these guys.

That being said, they don’t have a lot of assets to offer. It’s just OTC leveraged trades and the usual stock investments. But think of it as of specialization – by joining IG, you’ll become a specialist and will do well not to get distracted by other security types, when you can get rich just by sticking to the shares.

#5 – Forex.com

There’s not much to say about Forex.com – it’s your basic starter-pack broker. If you decided to visit this website to see what trading even looks like, then you made the right call.

In terms of instruments, they have lots of securities in Forex, stock, commodity and index markets. You really don’t need more, unless you’re specifically into bonds, ETFs, or other asset types not present here.

The same goes for the educational and technical aspects. There are lots of expected solutions. This doesn’t make them unhelpful, but that does reinforce the idea that it’s just your basic platform with a good number of good features, but also nothing intriguing past that.

In general, Forex.com is good, and you’ll do well coming here if you want to know what goes where. If you want a more interesting broker with a deeper, easier, and more pleasant experience, then come elsewhere.

This list of the best Forex trading platforms should help you move in the right direction.

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Written by:


Carolyn Huntington is an economist, professional trader, and analyst. She made her first big deal in her student years with a profitable investment in Facebook stock. Now the total experience of her trade is 18 years. Over the years of trading, Carolyn has developed its own strategy that allows even those who have never traded on the stock exchange before to earn money. She also creates market forecasts and advises major shareholders, compiles investment portfolios, and teaches how to work with automated advisors.

telephone: 503-547-5192