Top 10 Best Forex Trading Platforms
Forex or Foreign Exchange is one of the biggest financial markets that experience the most frequent trading compared to other financial goods. Forex trading is legal in most of the countries. However, if you acquire those denominations that are permitted or deal with unauthorised brokers, you may get punishment under FEMA.
So, the platform where you make the Forex trading is very important and that platform must have some good credentials to ensure complete safety. But to find the best Forex trading platforms among the crowd could be a difficult job to do. Here we are sharing the 10 best platforms that are safe for Forex trading.
List of Best FOREX Trading Platforms
CMC Markets
CMC Markets is a legal global platform for Forex trading. Not only Forex, but CMC also has more than 10000 instruments for trading. It is regulated by one of the major regulatory bodies in the United Kingdom, namely the Financial Conduct Authority (FCA #173730) which is a government-backed agency and their role is to ensure genuine market practices are obtained during trade. Also, the security of this trading platform is really strict. All of these features made CMC Markets one of the safest Forex trading platforms for everyone. To provide maximum support, this platform has 24*5 chat and call support options to assist the users.
London Capital Group (LCG)
LCG or London Capital Group is the next best Forex trading platform that comes second in our recommended list of top 10 trading platforms to trade Global Foreign Exchange. This platform can provide you 7000+ instruments for trading in 9 different asset classes including Forex trading options. They are one of the best-known regulated brokers who always used Tier 1 banks to secure the funds of the investors. The platform is suitable for both professional traders and beginners as the performance of LCG is very flexible and you can access it anytime anywhere. Their team of support is available on Monday to Friday and easily reachable over email, live chat or over the phone.
Saxo Capital Markets
With Saxo Capital Markets, you can best execute your forex trading strategies and gain maximum trading points and profits. This platform even offers no lock-up period and you can simply earn interest depending on your account plan. The platform has a lot of trading options including Forex.
Saxo Capital offers user-friendly trading tools along with the finest marketing strategies to improve your trading skills. They are the winners of the Best Retail FX Broker award for the year 2022. With Saxo Capital, you can enjoy up to 4.12% on your account depending on the plan you choose. Also, there are cash rebate offers for your FX and CFD trades.
XTB Online Trading
With XTB Online Trading, you can trade to almost 2100 different global markets including Forex. The world's biggest supervising authorities like the Financial Conduct Authority are monitoring this platform which ensures complete safety and security of trading. Compared to other Forex trading platforms, this platform has customisable features that are completely user-friendly. Also, there is an extensive video library available for the users to learn the trading strategies better.
IG Markets
The fifth position in our list of top 10 Forex trading platforms goes to IG. They are not only one of the safest platforms for Forex trading but also one of the world's biggest CFD providers. The platform is completely suitable for professional traders with round-the-clock service, tight spread and super fast execution. For a beginner, the platform has free demo account options that have interactive videos to learn trading and its strategies along with round-the-clock support from an expert team. They have more than 18000+ instruments for trading.
Paperstone
Paperstone is also the best forex broker with a tight spread, fast and reliable service, and regulated brokers like FCA, ASIC, DFSA, SCB, CMA, CySEC & BaFin etc. This platform has 1200+ instruments for trading. You can not only interact with 30 million traders but there is complete support available for you to assist you during your Forex trade. Also, you can get four major trading platforms with Paperstone. (Source)
eToro
In this multi-asset platform, you can get a free demo account where you can watch other traders' moves and learn from experts before participating in real Forex trade. This platform doesn't possess 0% commission and social trading is available here. Also, you can do insurance for your own investment where up to 1 million Euros/ Aud can be insured without paying any additional cost. Here you can get access to 3000+ trading instruments.
FXCM
When talking about the best Forex trading platforms, you must include FXCM in the list. This is an award-winning zero commission trading platform with exclusive trading tools, Forex and CFD market data, API trading options, the latest market insights and a lot more other facilities. (Source)
Oanda Corporation
Oanda Corporation is another leading forex trade platform established by Dr. Michael Stumm who is a computer scientist and Dr. Richard Olsen who is an economist. Their vision was to create such a platform where technology and the internet help to open up new opportunities for the financial market, especially for trading and currency exchange. Here you can trade a broad range of financial products including Forex trading. (Source)
Plus500
Amongst all Forex trading platforms, the last name that we will suggest as one of the safest Forex trading brokers is Plus500. With Plus500, you can have fast and secure withdrawal of your funds, real-time quotes from experts, advanced analytical tools to understand the market better, leverage up to 1:30, tight spread, 0% commission trading, fast and secure order execution etc.
The platform is regulated by the Exchange Commission and Cyprus Securities. They are on the list of London Stock Exchange’s Main Market. Plus500 has 2500+ instruments to trade. Also, your funds are kept secure at segregated banks where all the regulatory requirements are fulfilled. Also, round-the-clock professional support will help you to make wise decisions while trading.
