THE BEST 10 FOREX TRADING PLATFORM 2021
Top 10 Forex Trading Platforms
Our best forex trading platform list in April 2021 is
1. MetaTrader 4
https://www.metatrader4.com/en
MetaTrader 4 (MT4) is the most popular retail platform for currency trading. MetaQuotes created the trading platform in 2005 and has over 85% penetration from worldwide forex brokers. 55% of retail forex traders used the platform in 2018 based on Finance Magnates intelligence . Based on awards, it’s considered the best forex platform.
The MetaTrader 4 trading system
- 3 execution modes
- 2 market orders
- 4 pending orders
- 2 stop orders and a trailing stop
The MetaTrader 4 analytics
- Interactive charts
- 9 timeframes
- 23 analytical objects
- 30 technical indicators
Trading signals and copy trading
- Thousands of providers
- Thousands of trading strategies
- Any trading conditions
The MetaTrader Market
- the widest selection of trading applications in the world
- 600+ trading robots and 150+ technical indicators
- free and commercial products
Algorithmic trading
- The MQL4 language of trading strategies
- MetaEditor
- Strategy tester
- Library of free trading robots
Mobile trading
Support for iOS and Android OS
Full set of trading orders
Analytics and technical indicators
Alerts and financial news
Current financial information
Timely notification
Different market conditions
Features
-Trading directly via a browser
- Compatibility with Windows, MacOS, Linux
- Reliable data protection
- All types of trading orders and MetaTrader 4 execution modes
- One Click Trading
- 30 indicators and 24 graphical objects for technical analysis
- 9 time-frames, from one minute to one month
- Real-time quotes in Market Watch
- History of trading operations
2. MetaTrader 5
https://www.metatrader5.com/en
Three years after the release of MT4, the team at MetaQuotes developed MetaTrader 5 (MT5). The key reason for the new platform was to allow share CFD trading . The popularity of CFD trading and more brokers offering MT5 is why in 11.5% of MetaTrader usage was MT5 in 2020 (up from 5.4% in 2019). Below shows the details of the forex magnates metaQuotes .
The web platform allows placing pending orders, sending trade orders with one click from the Market Depth, and performing comprehensive market analysis using 30 technical indicators and 24 graphical objects. All these features can now be accessed any time and from any browser.
3. cTrader
Created by Spot ware, cTrader is the third most popular forex software and is offered by a wide number of retail foreign exchange brokers. While no exact market share statistics have been published, below shows the popularity of the websites and app downloads of the three most popular platforms.
7 Reasons To Use cTrader
- Most traders thought cTrader is intuitive and easy to use, from initial installation
- A lot of traders thought cTrader is perfect for those getting into trading, the software seems far more “modern” than the competition
- The detailed trade analysis feature helps you to understand your strengths and weaknesses
- There’s a large range of available indicators on the platform
- Detailed order tickets are very useful, including base currency dollar value or pip
- Traders enjoyed the comprehensive educational videos available within the platform to help make the most of cTrader
-The design and feel of cTrader replicates an institutional trading environment, including depth of market and feels very professional.
4. MarketsX
https://global.markets.com/en/
Developed by Markets.com, MarketsX is a proprietary multi-asset trading platform, a one-stop solution for all your trading needs. The platform is part of an FTSE 250 company listed on the London Stock Exchange (LSE).
Pros
Great tools for learning and research
Free and fast deposit and withdrawal
Great tools for learning and research
Cons
High trading fees
Platforms lack important features
Limited product portfolio
5. NinjaTrader
Based out of the USA, NinjaTrader is an advanced charting forex software package created in 2004. Most forex traders using NinjaTrader are based in North America with the platform registered by the National Futures Association (NFA).
Key features
- Fast and efficient client on-boarding
- Secure and reliable platform
- FIX message transformation capabilities
- Web-based portal for access to tools and services
- Connection and order flow monitoring
- Intraday allocations, matching and post-trade processing
- Consolidated drop copy
6. ProRealTime
https://www.prorealtime.com/en/
Founded in 2001 and developed by IT-Finance in France, ProRealTime key strength is the technical analysis functionality. Unlike most other forex trading software, the is web-based with no downloads required. There are customizable currency market scanners and advanced charting facilities. For automated trading, the platform uses ProRealCode coding language.
Pros
- Supports stocks, forex, CFDs, futures, bonds, and options
- Automated trend line analysis
- Wide variety of indicators with tons of customization
- Very advanced backtesting tool and automated trading
- Mobile app with price alerts
Cons
- Expensive stock and index data feeds
- Screener could be more flexible for multi-asset searches
7. eToro Trading Platform
eToro specializes in social trading and copy trading with a platform specifically designed for trading CFDs. The online broker was recommended for social traders based on the platform functionality, number of copy traders online, and depth of CFD trading options.
Pros
- 15 cryptocurrencies that can be traded 24/7
- Easy-to-use website and mobile app
- Great community for cryptocurrency traders
Cons
- Spreads for trading cryptocurrencies are relatively wide
- $25 minimum to buy any cryptocurrency
- Relatively high minimums required for most copy trading
8. Plus500 Trading Platform
Plus500 is a CFD provider that offers a large range of financial instruments for trading. The company offers its own proprietary trading platform, designed specifically to make monitoring and trading multiple instruments at one time as easy as possible.
9. eSignal
eSignal is one of the oldest trading platforms on the market. The software’s point of difference is its advanced charting features, which makes it great for traders wanting technical analysis.
Pros
- Smooth and flexible chart resizing, navigation and scaling
- Large third-party add-ons and partner brokerages/vendors
- Extensive library of technical indicators and studies including app store
- Mobile and Tablet app with Signature and Elite plans
- Elliott Wave and harmonic pattern signals
- Tons of educational videos and tutorials
Cons
- Exchange fees can get expensive
- Symbol limits could be expanded
10. ThinkOrSwim
TD-Ameritrade ThinkOrSwim (TOS) is a desktop, mobile and web compatible trading platform for ETFs, forex, futures, stocks and options. It is one of the few platforms available on Mac . The platform stands out in a crowded field of competitors because of their advanced charting features, a wealth of research tools and screening tools which are highly customizable.
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