Best Forex Trading Platforms in November 2022

Do you want to trade currencies in real-time? Forex trading platforms is a way to trade currencies in real-time, and comes with built-in analytics tools to give you an edge. Try the best platforms now to start trading on!

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The best Forex Trading Platform is has been ranking number 1 for the last 115 days.

Have you been planning to invest in the foreign exchange market but don’t know where to start? Starting with these forex trading platforms will make your trading journey convenient and accessible with its powerful tools and features. They also offer different types of platforms such as web-based programs and on-the-go applications to help you trade efficiently wherever you are. With this, you will have a productive trading experience.

Convenient Forex Trading

Foreign exchange trading has been one of the most popular financial markets in the industry because of its flexible trading hours. If you plan to do forex trading, you won’t need to adjust your sleeping schedule to trade since you can do it anytime in the comfort of your own home.

Seamless Trading

Trade seamlessly with these forex trading platforms; they are equipped with advanced and state-of-the-art programs that allow you to track your trades efficiently and comfortably.

Access to Helpful Trading Tools

Once you sign up with any of the best online forex trading platforms, you will have access to all the helpful trading tools you will need. Even if you are still practicing, you can use the same features offered for live accounts, which is excellent for newbies.

Safe and Regulated

Before any platform can open its services to the public, it is regulated by the finance conduct authority of its country of origin. After that, the brokerage must hold a license from their local authority to ensure it’s a safe platform for investors.

Practice Trading via Demo Account

Got no spare cash to burn? Well, you can practice trading in forex platforms by signing up for their demo account. With this, you can experiment with your trading strategies without spending a single cent.

Experience the Forex Trading Community

Once you join a forex platform, you will experience the perks of being in a forex trading community. Through this, you will be able to access forums and networks of trading experts to help you in your trading journey.

User-Friendly Interface

Having a platform that offers a user-friendly interface and self-explanatory navigation system welcomes anyone who wants to trade forex conveniently. At the same time, it enables new traders to be more familiar with the platform and quickly learn the ins-and-outs of the program.

Charting Software

The charting software is beneficial for traders since they get to customize their graph charts, plot their essential data, and create notes to analyze future trades. This software also assists traders in identifying the most advantageous day to trade because of the different data charts and indicators found in this feature.

Technical Analysis

Foreign exchange trading can be volatile; that’s why it is essential to have a technical analysis tool in your chosen platform. It is because the technical analysis can help you evaluate the movement of the previous prices and predict future price movements that can lead to profitable opportunities in the market.

Online Calculators

Manually managing your investment risks can be stressful, but with online calculators, you can comfortably assess and manage your investments. This is also a free tool offered by most platforms, and it includes different types of forex calculators from profit estimators to position size calculators.

Demo Trading Account

Many forex trading platforms let beginners be familiar with the basics and realities of forex trading without losing any money. So, if you are still getting to know the world of foreign exchange trading, signing up for their demo trading account can be advantageous.

Pre-programmed Strategies

Some platforms let their traders input pre-programmed trading strategies that they can use for future trading, or whenever they think such an approach would work for a particular trade. This allows traders to make trading decisions and take opportunities for possible profits automatically courtesy of this feature.

Historical Data

Testing and applying strategies are made better with the help of historical data. Having access to this lets traders create and perform their future actions based on the pairs’ former movements.

Automated Trading

With automated trading, you can schedule triggers that will automatically perform trades based on the current market status and prices. That is beneficial when you can’t personally watch over the market but want to execute several trades. After you schedule an automatic deal, the platform instantly performs it for you.


Staying up to date with your forex stocks' current status can be done by setting up alerts for prices, market status, or margin levels. They will notify you through phone or desktop notifications at times when you might want to make an exit trade or enter new ones. The program also sends you an email or SMS alert when it’s time to replenish your trading accounts.


Forex platforms for trading are required to have firewalls and use secure sockets layer (SSL) software in their programs. This is an assurance that a platform you are using is safe and secure—to prevent mishaps from happening while you are trading.

1. Data Encryption

Encryption of data is the most crucial process in every finance-related transaction. It also ensures clients that all their banking details so as personal information aren’t shared with any third-party individuals.

2. Two-factor Authentication

To keep the users’ accounts safe, platforms offer an optional security feature that their users can use to reduce unauthorized access to their accounts. It works by entering your password then the verification code sent by the program via SMS or email.

3. Forex Trading License

Most countries require forex trading platforms to have a trading license before they can legally operate as a program. It allows them to conduct business matters worldwide through the internet. It also verifies that their trading platform is legal, assuring the safety of their clients’ investments.

Well-Researched Educational Materials

A great platform would offer their users well-researched educational materials that they can make use of to study the in-and-out of forex trading. Letting forex traders know more about what to do in the market and learn strategies from experts.

1. Webinars

Many platforms offer free daily or monthly webinars for their traders. Anyone is welcome to attend their webinars, whether you are a beginner or not. People can also use this feature to train more in forex and build successful portfolios for the future. Note: Traders are usually given an invitation via email or through a notification from the app or website.

2. Video Tutorials

Some platforms provide their users with video tutorials about forex, which can be found in their software’s video library or private streaming account. Traders can use this feature when they want to learn at their own pace and convenience.

3. News and Articles

The current status quo can affect the forex market since it affects economic indicators. So, having the latest news and articles about your trades can help you monitor the movements of your currency pairs and get clues about your next moves.


Most forex trading platforms offer a multi-access feature to their users. They are letting you trade on two or more devices that are compatible with your program—making trading more accessible for traders who want to do the trading via phone or tablet.

Dependable Customer Support

Consumers can report their concerns when technical problems arise in the platform to the customer support available in these programs. Addressing queries can be done through email, phone call, or live chat.

1. Live Support

Some platforms do offer a live support feature for their users, which is very convenient for the members because they can just address their concerns via chat box, and someone will answer it instantly or after a few minutes.

Downloadable Desktop Forex Platforms

Compared to web-based forex programs, downloadable desktop forex platforms can be downloaded for free or at a minimal cost. The platform is advantageous for people who want to trade forex with just a few clicks on their personal computer or desktop.

Mobile Forex Trading Applications

This type of forex trading platform lets you access your investments on-the-go. All you need to do is download the application into your compatible device, and you can use it anytime you want.

Web-Based Forex Trading Platforms

With web-based forex trading platforms, you can access your trading accounts by typing the service provider’s URL into your browser, giving you the freedom to trade without downloading any software into your gadget as long as you have an internet connection.

New Traders

Are you a new trader and have no idea about forex? Worry not, because most forex trading platforms offer a free demo account for people who want to give trading a try but don’t have the funds to invest. You can also access their education resources and forums to help you know more about trading foreign exchange.


Since forex trading is liquid and attractive, many people in business invest in forex trading platforms to up their trading game. They can also compare their strategies with other experts to better their trading and investing skills.

Multinational Companies

Businesses that are involved with importing and exporting goods benefit from forex transactions to make their trades easier. They also trade forex because it adds a level of safety to their offshore investments since it prevents the risks linked to foreign currency translations due to lower exchange rates.


Are you a finance student looking for a platform to test out your classroom knowledge about forex trading? You can sign up for their free demo account and trade with paper money while studying the basics and strategies of forex trading. Also, most trading platforms have a minimum investment amount of $100 that can be affordable for students who want to invest.

Step 1: Know your personal preference

The first step in choosing the best forex trading platform is to know your personal preference before signing up for any service provider. To do this, ask yourself first these questions, do you prefer to trade through your phone? Or do you prefer using your web browser to trade? Once answered, you can pick from the types of forex trading platforms above to give you an idea about which program to use.

Step 2: Assess your trading skills

After knowing your personal preference, it’s time to check what type of forex trader you are. Are you a beginner? An intermediate trader? Or a professional? This second step will help you pick out the trading platform that matches your skills.

Step 3: Choose a known platform

Right after you have realized your personal preference and assessed your trading skills, you can now move on to the next step - choosing a platform you prefer the most. Forex platform reviews and ratings can help you decide for this step.

Step 4: Check if the company is regulated and secure

Now that you have started searching for forex trading platforms, it's time to check which companies you have looked into are regulated and which ones aren’t. It is to make sure that every information and funds you give will be in good hands.

Step 5: Try out their demo account

The last step in picking out the trading platform for you is to try out the free demo account offered by a service provider. With this, you will use their interface, customer support, and other services without spending a dime.

A forex broker refers to a firm that gives traders access to platforms that lets them buy and sell foreign currencies. They are also known as currency trading brokers or retail forex brokers.

Trading with retail forex trading platforms means that you will be involved in a small part of the bigger foreign exchange market. It is where people strategize on the possible exchange rates between different currency pairs.

The top forex trading platforms will ask you the following information as you open an account with them:

a. Complete Name

b. Permanent and Current Address

c. Tax ID number

d. Proof of Identification (Passport, Driver License or National ID)

e. Any Document for Address Verification (government-issued photo identification, utility bills, credit card or bank statements)

f. Payslip

The best platforms for forex trading have an average minimum deposit of $100. If you aren’t ready for that investment, forex trading platforms offer demo accounts to their users. It is also known as paper trading and is perfect for practicing forex trades since it lets you trade without depositing any amount.

Funding your account can be done via bank transfer or online money transfer platforms. Also, if you live outside the US, you have the option to fund the account using your currency or to convert it to USD. For further information, you can visit the “Account Deposit” option on your chosen platform.

To keep your funds safe and secure, make sure to sign up for a platform that uses data encryption. Also, create a strong password that no one else can easily guess, and do not open attachments from unknown or spam emails to protect your risks of cyber fraud.

Based on forex trading platforms reviews, you must be the only one using your trading account. You can prevent other people from accessing your details, such as your bank account information and other confidential data that shouldn’t be shared with anyone else.

The best way to know whether or not your service provider is regulated is by going to their “about us” page and check for their license number as fully regulated broker-dealers.

According to several lists of forex trading platforms, many known service providers offer Cryptocurrency trading. To know more about that, you can check out the “services offered” section of your preferred platform and see if they provide this type of service.

Forex trading is readily available 24 hours for every working day and even during some U.S. holidays. Note: Market hours and holiday schedules can change anytime. However, worry not—as your service provider will notify you when it happens.

To compare forex trading platforms, you should consider the following to help you decide which platform is the best for you:

1. Check its program speed and performance.

2. Ease of use of their interface.

3. Security and functionality.

Using a platform that has quick and stable performance lets you perform hassle-free trades and rid you of unwanted delays. Simultaneously, having a functional, secure, and easy-to-use interface can also help give you the best trading conditions you need.

Using a comparison software can assist you in differentiating the features available in most forex trading platforms. It helps you as you evaluate the different platforms available online and guide you in choosing which platform you should use.

The “trade flow busy” error shows up whenever you have unsuccessful attempts to make a transaction while using the platform. That could happen when the client didn’t get any response regarding the status of your previous request. For example, this usually occurs when there is a problem between the network connection of the trading server and the client. To solve this, you can restart the program and try to use the platform again. If the error is still unsolved, you should contact the service provider as soon as possible.

When a deal turns red, it means that the margin level of the currency pair you are trading reaches its stop-loss set or below a 100% loss. Red sales are indicators used in trading platforms to inform its users that their currency pairs are lower than their previous rate.

Classifying Forex trading platforms depends on their trading models through which a type of broker operates. And platforms under such classification are the following:

Dealing Desk Platforms

Platforms under these are the ones mainly found and used by market markers. These work by connecting the dealing desk of a broker with trading platforms wherein all pricing must come from the desk, so as the orders made.

Non-Dealing Desk Platforms

This type is commonly known as direct access trading platforms they show pricing details directly from the liquidity providers.

There are forex trading platforms allowed in the United States that are part of the top 10 forex trading platforms of all time based on reviews. So, if you are from the USA and you are searching for a forex trading platform to use, worry not, because you have a lot of options you can choose from.

You can build a forex trading platform, especially if you are a software developer or designer who can create a trading platform from scratch. If you don’t know about software development, you can hire a developer and do it for you.

Yes, you can apply social trading in forex because this can help you trade efficiently by basing your movements on the trading behavior of expert forex traders and friends.

Currency pair:

Are currencies traded on the Forex market.

Major pairs:

This includes currency pairs with the US dollar as its base currency or counter-currency.

Cross pairs:

This represents the two major currencies traded except for the US dollar, its examples are Great Britain pounds and the Australian dollar.


Refers to the currencies that aren’t part of the top 10 most traded countries such as the Philippine peso, Czech koruna, and many more.


Is the short term for “Percentage in Point,” which is the smallest increment that a specific exchange rate can go up or down.

Going long or short:

Going long means to buy while going short means to sell.

Support Levels:

Is your previous low wherein its price can potentially move up anytime.

Resistance Levels:

Are previous highs of your current pairs of which had prices that were difficult to break above.


This means that you will open a trade in a significant position size that is its initial trading account size.


Refers to the collateral you have while performing your trades on a forex trading platform that depends on your leverage ratio.

Normally, it doesn’t happen. The broker makes sure you don’t lose more than you invest in your trading account. Your losing position will simply be closed if the resulting account balance is practically zero. Note that the loss that is greater than your deposit is also a direct loss of the broker.


MetaTrader is the most common Forex trading platform, primarily since it’s specially designed for Forex trading. MetaTrader’s most significant advantages are its stability and robust features, like one-click trading and auto-trading. MetaTrader comes in two versions: MetaTrader 4 and MetaTrader 5.


With cTrader, you can access the currency trading market directly. Like MetaTrader, it has robust features and tools, such as access to liquidity providers, fast trade executions, technical analysis equipment, etc. However, the downside to this is it has many more limitations than that of MetaTrader.


NinjaTrader is for active Forex traders. It can offer you some advanced automated features, like advanced charting, trade simulation, and automated strategy development. Plus, unlike MetaTrader, NinjaTrader is much more customizable with a great set of analysis tools to help you.


Act Trader lets you customize your workspace through its detachable windows and tabs option. It also comes with a one-click trading feature that helps you speed up your trade. You can also automate your trading strategies through this platform without any coding requirements.


Like MetaTrader, Currenex comes in two versions: Currenex Viking Platform and Currenex Classic platform. Experienced traders mostly use the former since it has more complex features than the latter. The classic version of the platform best suits newbies since its interface is designed to be user-friendly.