Got some US dollars that you want to trade? Then, you need to start at a Forex market, the largest and the most liquid market in the world.
To start at a forex market, firstly you need to find a trusted brand that is user-friendly. Secondly, it should provide access to market research and education resources. Similarly, it should have low yet competitive fees, best customer support, safety, and tools.
We conducted extensive research over these factors and chose the most popular and best Forex Trading platforms to trade at in 2019:
- Fees: Minimum of 0.6 pip for EUR/USD
- Instruments: CFD, Forex, Crypto, Stocks, Digital Options, Options, Spread betting
- Customer Support: Round-the-clock service
- Best for: Forex Trading and CFD traders wanting trusted access to nearly every market
Founded in 1974, IG is the largest forex and CFD brokers in the world with over 185,800 active clients spread across 5 continents. Their competitive features give them a market capitalization in excess of GBP ¬3.1 billion. They give excess to an extensive product catalog and have no hidden services and fees. A well-organized website and high-end platforms are further key features.
It is licensed and regulated by the Financial Conduct Authority (FCA) of the United Kingdom and compliant with the European Securities Market Authority (ESMA) regulations. IG gives traders excess to an extensive library of support and educational markets to make trading a rewarding experience. Moreover, IG offers its very own patented web-based trading platform and downloaded applications for both Apple and Android devices.
- Fees: Minimum of 0.9 pip. Deposits start at 250 base currency (i.e., £250, €250, or $250)
- Instruments: CFD, Forex, Crypto, Stocks
- Customer Support: Available 24/5 through email, live chat and phone
- Best for: Forex pairing and cryptocurrency
Regulated in the UK and registered with the Financial Conduct Authority (FCA), XTB gives traders excess to more than 3000 trading markets. Besides FCA, it is registered with Cyprus Securities and Exchange Commission (CySec) and the International Financial Services Commission (IFSC), making it a trusted and reliable platform. It also provides various packages like Day Trading Guide and a Trader’s Library.
Its key feature includes a free Mobile Trade Alert service, together with a direct line of contact via WhatsApp with Chief Market Analyst David Cheetham. To further elevate the trading experience, it comes with a stocks screener and real-time performance stats so you can track your trading behavior. Furthermore, it has a comprehensive video tutorial section and a variety of other innovative tools. Highly recommended for traders wanting fast withdrawal process and extensive research tools.
- Fees: 1 pip minimum with EUR/USD
- Instruments: CFD, Forex, Stocks, Futures
- Customer Support: Quick and supportive
- Best for: Diverse asset classes
London Capital Group started in 1996 and is now the UK’s largest online Broker. Today, it is registered in England and Wales and regulated by the Financial Conduct Authority (FCA). LCG offers two trading platforms, LCG Trader and Meta Trader 4, and a top-notch mobile app that allows the app and the desktop version of your account to be instantly connected. Although not an alternative to the desktop version, its mobile app is a complementary tool providing instant alerts and analytical tools.
Another key feature includes negative balance protection for its users. This prevents the traders from losing money more than their deposit. It also offers three different accounts to choose from; ECN Account, Standard (Classic) Account and Islamic Account. Plus, it offers $5,000 as a welcome bonus. If you are a new trader, you’ll get 10% extra money from the first deposit.
These are the best forex trading platforms for us. What may work for you depends on your preferences and needs. Let us know which one you find the best.
Khirad Shah is a Chartered Accountant who expertly covers the disciplines of Accounting and Finance. This means whether it is a research paper, a 1000 word essay or just 10 lines, she never hesitates to pen down about the subject she loves. Khirad is known as the diva of finance.