The Forex market is regarded as one of the most liquid trading platforms in the world and also the largest market in the world. Here, trading occurs round the clock, five business days a week. To trade in the Forex, one must have an online broker who effectively manages all the trading activities and has complete information about Forex trading. Choosing a trustworthy broker is essential for online Forex trading to ensure success. Some of the best Forex trading platforms or brokers are mentioned below.
IG is one of the most trusted Forex trading platforms and a publicly-traded company. Its key features include excellent research and trading tools, competitive pricing, a wide range of tradable products and industry-leading education. Due to its features, it is regarded as a low-risk platform for trading. It also controls the operations of a regulated bank. It has authorization of high trust, average trust and low trust regulators. The services offered by IG are cost-effective and high-quality. It provides you with access to nearly every forex market, including around 19,500 assets that are tradable. It also facilitates mobile trading through its mobile app, offering the best feature. A downside of this platform is that its share-CFD fee is high.
Another best trading platform that is known for providing the best trading experience is Pepperstone. It provides extra security to its clients by keeping their accounts separate from company funds. It is an attractive trading platform for both professional and beginner-level traders. The FX spreads offered by Pepperstone are quite competitive. It provides its users with a lot of user interfaces, low-cost services, and efficient and reliable customer service. It implements a strict regularization policy for ensuring fair market practices for businesses and individuals. It is regulated by a well-known regulatory agency in the UK, due to which its credibility is higher than its competitors. It also provides “negative balance protection” to its selected customers, which protects them from losing money more than their account balances. Its customer service is also appreciable. It provides its customers with email, chats, phone, and social media platform support available round the clock during its five business days.
Traders Central Fund:
Traders Central Fund is the best Forex trading platform. It provides retail forex traders with the facility of fee funding for one time based on their subscription. This means that the personal liability of the trader remains limited to his subscription or, in other cases, his one-time fee. Their customer support services are appreciated by the clients and are the main reason for its recommendation time and again. Moreover, they provide their clients with the best educational material through articles and videos, which are helpful for beginners and advanced traders alike.
XTB Online Trading:
XTB online trading is yet another best Forex trading platform, especially if you are looking for low-cost services. It is a Polish company listed as a public entity. It provides great opportunities for lowering costs usually incurred in terms of the bid/ask spread cost and some other extraneous costs. Moreover, it provides maximum leverage to its clients. Relevant educational tolls’ provision and good customer service are its key features. It suits the best beginner-level traders. It provides the best lowest FX spreads with a minimum of 0.5 for standard accounts and 0.1 for pro accounts. It is regulated by a credible governmental regulatory agency named Financial Conduct Authority (FCA). Due to this, its credibility enhanced a lot, and risk reduced for the customers. A downside is that it does not entertain US clients due to some regulatory issues. Moreover, it charges commission not only for stock CFD transactions but also cryptocurrency transactions. Its clients are vulnerable to market gap risk as it does not provide Guaranteed Stop Losses (GSLO).
Saxo Capital Markets:
Denmark-based company; Saxo Markets is considered the best trading platform for advanced traders. The tradable assets included in the catalogue of this company are shares, Forex, commodities, bonds, options, futures, and indices. All these assets can be traded through direct ownership, forward contracts, and CFDs. As the services are mainly focused on sophisticated and advanced traders, beginners may face a lot of problems using this platform, such as different kinds of fees, few customer support options, and high account minimums. Therefore, small account holders should avoid this trading platform. However, its advanced traders are offered a wide range of extensive offerings. Like other high profile platforms, Saxo Markets is also regularized by Financial Conduct Authority (FCA). The company also holds some of its clients’ funds at a tier-1 bank to reduce the risk. Its services are always up to the mark, making it customers’ priority. The biggest drawback of this platform is that they do not emphasize customer service, which is one of the most important marketing factors. Live chat, which is a common facility nowadays offered by websites, is not offered by Saxo Capital Markets.
London Capital Group (LCG):
London Capital Group (LCG) is one of the most prominent Forex trading platforms based in the UK, London. It is one of the best platforms for beginner traders and provides its users with a wide range of tradable asset classes. Its customer services are also appreciable with reasonable service fee. It provides its customers with 24/5 customer support, including live chat and dealing desk facilities to facilitate quick and timely communication. The credibility of the LCG is backed by regulation by Financial Conduct Authority (FCA). This regulation ensures fair market practices for businesses and individuals. It holds the funds of all its client in a tier-1 bank. It provides negative balance protection that protects traders from facing a negative balance in their accounts due to loss. LCG provides Guaranteed Stop Losses (GSLO) to its traders to protect traders from market gap risk. It charges an additional amount for this facility. The interface offered to its users is easy and simple to use. There are also incentives available for high-volume traders. There are also some drawbacks of the LCG. Its web presence needs a lot of improvements. Broken links, incomplete or outdated information, and non-sufficient web maintenance are some of the major issues. It does not offer its services to the clients of the US.