Forex Trading Platforms
Forex trading is the selling and buying of foreign exchange and is mostly practiced within the Forex markets. It is a risky investment but if done well can yield an amazing return for the traders. There are many online and most offer information to their clients about the available Forex trading platforms they can utilize to maximize returns on their websites. For example, Alpari in Nigeria guides traders through account opening and recommends platforms for download. The website is accessible from anywhere and clients in countries such as Nigeria or South Africa can now enjoy great services by Alpari and other major Forex brokers.
What Is a Forex Trading Platform?
This is also referred to as a currency trading platform among many Forex traders. It can be defined as software that is meant to give traders access to Forex markets. One may wonder what is the need for Forex trading platforms? They are designed to provide tools to traders for executing the buy and sell orders in the Forex markets. They can also be tailored to do the same for stock trading a while some offer both options to their subscribers. Some Forex brokers offer customized trading platforms. However, most specify the most preferred Forex trading platforms that work best with their accounts.
Available Forex Trading Platforms
Forex trading platforms will offer clients an opportunity to open a demo account and learn how the systems work before they need to open a trading real-time account. Forex brokers such as Alpari are quite flexible and have very attractive packages that allow clients to make wise investment choices.
As the industry of Forex and stock trading expands, so does the variety and range of available Forex trading platforms. Below are some amazing platforms:
1. Plus500
This trading platform is most popular in the United Kingdom. It has a web trader as well as a mobile trading up. It is a sophisticated CFD trading platform giving its investors access to over 2,000 trading tools. This platform has one account type and charges only on the spreads with an average of 0.6 pips on EURO/USD trades.
2. eToro
This is an online trading platform most popular in the USA. It is a top choice for traders hoping to invest in Crypto and copy trading. It is high in security and safety and offers 24/7 customer support service. It is also great at stocks trading and foreign exchange. It is available in most countries and listed in many securities across the globe.
3. Robinhood
This is an online trading platform and is very popular among beginners. It is a low-risk platform with no trading fee and allows the trader to buy and sell without risking anything beyond their initial investment. It is mostly for traders who want to try out online Forex and stock trading to see how it works. It does not offer many tools on education or research but its an excellent starting point in online trading.
4. MetaTrader 4
This platform has flexible leverage ranging between 1:1 – 888:1. It has amazing features such as the ability to use just one login access to 8 different platforms. It offers micro-lot accounts which are optional for interested traders. It has amazing pip spreads as low as 0 and has over 1,000 trade instruments.
5. MetaTrader 5
This is an advanced version of the MT4 bearing all the features and an addition. It has 300 additional stock shares CFDs. It is a multiple asset platform able to trade Forex, stocks, gold, oil, cryptocurrencies. It is perfect for traders who would like to diversify their investments or advance their trading. It offers seven platforms for the same login. It has over 80 analytical objects with finance market depths and updates to the latest prices.
Forex trading is a great investment more so when one has all the required information and tools. Forex trading platforms are a must for all traders, and they make it easier to trade as well as track all the trades made.