If you’re a beginner and looking for the best forex trading platform, you’ve come to the right place. We’ve put together a list of the best 15 platforms so that you have an idea of what you need to do and what you’re in for before you begin. Seeing as the first step of the entire process is to choose a trading platform, here are the best 15.
The practice account starts at $25,000 and they require no minimum deposit. OptionsXpress has been considered a top or best forex trading platform since 2001 when they began their business.
#2. OANDA Corporation
The practice account is unlimited, and they never ask for a minimum deposit. They too have been a Forex trader since 2001. They can provide you with demo accounts that will not expire. Therefore, you have the choice of practicing your trading skills right until you feel ready to perform the real thing.
The practice account is $50,000, and the minimum deposit is $250. They have been a forex broker since 1999, and they can provide you with fantastic tutorials for beginners, as well as live training, and some sessions of Q&A which will unquestionably teach you the basics.
#4. TradeKing Forex
The minimum deposit with this particular best forex trading platform is $500, and the practice account starts at $50,000. They have been traders since 2005 and have an excellent website with an education tab that will teach you everything you need to know. You need to be aware of the fact that the premium education can be accessed for a fee.
#5. TradeStation Group
The minimum deposit with this one is a bit higher, starting at $2,000. The practice account begins at $50,000. They have been on the trading market since 1999. They can also offer you a walk through their platform, strategy sessions, instrument guides, and a trading library.
#6. Thinkorswim by TD Ameritrade, Inc.
The minimum deposit with them is $2,000. They have been in business since 1999 and, as a platform, they belong to TD Ameritrade. They too offer a curriculum rich in videos and tutorials especially designed for beginners. They also have the thinkMoney magazine, the thinkManual, as well as the Quiz Central, all of which will come to your aid.
#7. E*Trade FX or the E*Trade Financial Corporation
The practice account with them starts at $50,000 and it’s only active for 30 days. Therefore, you need to pay special attention to this piece of information. The minimum deposit is $2,000. They have been a so-called best forex trading platform since 1982. Their videos, web seminars, and articles all come together to form the ‘basics’ category. Evidently, it was designed for newbies.
#8. Place Trade Financial
The minimum deposit here is $5,000. However, keep in mind that it’s $3,000 for people who are between the ages of 21 and 26.
#9. Interactive Brokers Limited
The practice account on this best forex trading platform on our list will be activated after your trading account has been assessed, approved and, evidently, funded. The minimum deposit with them is $10,000. They have been on the trading market since 1977, and they also have a University. It provides beginner traders with webinars, discussion forums which are unmonitored and which you can use to talk to other traders, as well as apps, cheat sheets, widgets, and user guides.
#10. Forex Capital Marketing
The practice account with them starts at $50,000, and the minimum deposit is $2,000. They have been brokers since 1999, and they have daily platform walk-throughs as well as strategy sessions, and a library full of trading and instrument guides. There is also a calendar of events, which you can always add to your personal calendar, should you wish.
#11. ATC Brokers
The have low pre-order commission rates, but they have very little resources for beginners. Apart from that, their platform is not as user-friendly as it should be, nor does it come with training tools for investors. They are based in Los Angeles.
As a pro, Nadex requires no minimum deposit to trade with them. However, as a con, they only allow you to trade ten currency trades. This means one of the lowest of any brokers that have been reviewed online. Apart from that, they also lack the essential tools that some other brokers can offer to typical traders.
#13. MB Trading
MB Trading has been rated as being one of the best forex trading platforms of the year. They can offer two pricing plans to its traders. Therefore, you will be able to choose the one which fits you and your goals best. They aim for traders who are based either in the US or Europe. They are based in California, meaning that they are well adjusted to the regulatory environment of the United States.
#14. CitiFX PRO offered by Citigroup, Inc.
They pride themselves on having a strong technical skeleton based on Citi infrastructure as well as on its connectivity power. They can provide those who are interested in forex trading across some 130 currency pairs. They also have forex news that is top on the market and the choice of MT4 and three platforms extra. To be able to fit your needs, CitiFX PRO has an entire plethora of accounts on which you can trade.
#15. Fortress Capital, Inc.
They like to boast about their 34 years of expertise in the field and their robust investment solutions. Apart from trading, they also offer business loans, commercial loans, commodity futures, they manage acquisitions, they offer financial services and asset finance.
Whichever best forex trading platform you choose you should know that they are intended for more experienced traders. If you happen to be educated as far as day trading or options trading goes, then forex could be a challenge worth your while. You can think about forex trading as the perfect opportunity to diversify your portfolio, should that be your plan on the long term. However, you must keep in mind the fact that it is, in fact, riskier than some other models of investment available on the market.
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