Overview of the Top Market Platforms for choosing the best FOREX brokers
The forex market is the world’s most liquid and largest financial market, and daily trade volume is in excess of $7 trillion. The right platform is crucial to successful forex trade, and thus, choosing the right platform is paramount, for it influences available tools, capabilities, and speeds of trade. We take a closer glance below at leading forex trade platforms and their issuing brokerages.
Best Forex Trading Platforms and Brokers
- MetaTrader 4 (MT4) & MetaTrader 5 (MT5) and HFM
MT4 is one of the most sought-after forex trading systems, with advanced charting, multiple technical tools, automated trade through Expert Advisors (EAs), and an intuitive interface. MT5 is a professional version, with additional timeframes, an economic calendar, multiple instrument capability, and advanced order management.
HFM is a regulated broker who makes MT4 and MT5 available to traders of any skill. HFM makes available spreads of 0.0 pips, and traders have access to trade for low cost. In addition, it makes available up to 1:2000 leverage, and traders have access to trade in volume using small amounts of capital. The broker also offers HFM Platform, their proprietary platform, for seamless trading providing an uncomplicated platform, fast executions, and strong tools for risk management. HFM makes available multiple types of accounts, good market depth, and strong oversight by regulators, and is therefore perfect for traders who want to fully use such platforms.
- cTrader and IC Markets
cTrader is known for having an intuitive platform, Level II market depth, advanced charts, and automated trade capabilities. cTrader is popular amongst professional traders who anticipate top-performance executions and openness. IC Markets is an industry leading broker who provides cTrader, presenting traders institutional quality liquidity, ultra-low spreads, and industry leading speeds of executions. cTrader is known to fully support automated trade strategies and scalping.
- NinjaTrader and Forex.com
NinjaTrader is a powerful forex platform for advanced charting, back testing, and automated capabilities. Ideal for technical analysis and automated strategies traders, Forex.com, a regulated broker, makes available access to NinjaTrader, and therefore, is ideal for retail and institutional traders who desire an advanced platform.
- TradingView and OANDA
TradingView is an online platform for trade, known for having strong charting capabilities, social trade capabilities, and a user-friendly interface. The platform allows traders to create their own personal custom indicators and scripts using its in-house programming language, Pine Script. TradingView is powered by OANDA, an exceptionally reliable broker, and offers traders direct access to live market data, advanced analytics, and flexible order options.
- ThinkorSwim and TD Ameritrade
ThinkorSwim is an expert-level platform for trading, and it offers access to advanced technical analysis, comprehensive tools for trade, and strong risk management. The platform is perfect for traders who trade multiple securities. The only broker that gives access to ThinkorSwim is TD Ameritrade, and it is equipped with strong tools for research, commission-free forex trading, and comprehensive personalization for trade.
Conclusion
Selecting the right forex broker and platform is vital to having a successful forex trade. Both MetaTrader 4 and MetaTrader 5 are top-shelf platforms, and HFM is one of the top settings for traders who use such platforms. cTrader, NinjaTrader, TradingView, and ThinkorSwim also cater to traders who have comprehensive needs such as advanced analytics, automated trade, and social trade. Among top-shelf brokers, HFM, IC Markets, Forex.com, OANDA and TD Ameritrade provide traders access to such top-shelf platforms. Choosing a broker who offers such an ideal platform makes traders’ life easier, accelerates their executions, and makes them better traders. In choosing, factor in spreads, commissions, tools, and client services to have an effortless trade.
