Modern life opens the doors to new possibilities, including the branch of investment in the stock market.
This article will be devoted solely to unraveling all the advantages of famous trading platforms, and in turn, the best ones for investing in the Forex trading market, so without further ado, let's start this journey!
To begin with, we will introduce the various Forex trading platforms that rank as the most prominent, as well as consider the guidelines as to their main features, advantages and disadvantages of the same.
This platform has the main feature that allows you to trade with each and every one of the instruments, among them includes:
- Stock CDFs
- Raw Materials
In addition to this, its interface has a very entertaining and easy to use interactivity, which gives comfort to anyone who uses it.
- Available for download on PC, IOS and Android.
- It includes a free demo of 40,000 euros for testing, and very easy to create.
- You can execute orders directly from the charts.
- It exceeds 90 technical indicators.
- No technical support on weekends.
- Charges a commission in case of inactivity for three days in a row.
- No auto-trading or automated trading is allowed.
- It lacks support for platforms like cTrader or Meta Trader.
eToro Social Trading Platform
It's hard to say for anyone new to trading that they haven't heard of the most social Forex platform in the community par excellence, as well as being the only one developed in-house.
The eToro Forex platform's main feature is that it makes it possible to spot trade ETFs and stocks, and is regulated by the FCA and CySEC.
- Allows you to do free trials of up to $100,000.
- After you have deposited a certain amount, you can learn and implement the strategies of the best.
- You can see the current positions of each person, in the same way that a social network would work.
- Accessible for mobile phones such as Android and IOS.
- It is a bit complex to change languages.
- It is necessary to practice within the platform, as it is not easy and practical to use.
- There are fees for transfers and spreads.
- It is not available for countries such as USA, Canada, Japan, Cuba, etc.
Every person should know that every activity has its own way of being executed, in the sense that there are some that should only be implemented by experienced people in the field, and this next broker is no exception.
The xStation platform stands out as one of the most complex software for trading regular and pure stocks, ETFs, commodities, cryptocurrencies, etc.
- You have a maximum of $20,000 for free practice trades.
- Customization of charts, introduction of indicators, scripts, etc.
- Extremely fast execution.
- Completely free trading platform.
- Not recommended for novice investors.
- It has little leverage.
- It lacks Islamic beads.
- It has commission for withdrawal.
Metatrader 4 and 5
Metatrader - this next platform is very well known and is also known for being MultiBroker, which was mainly created for Forex in 2005, however, nowadays it can be found with a wider variety of tools for use in trading.
- Thanks to its open source code, you can make your own expert robots and technical indicators.
- It has an internal email to contact your broker as a help system.
- With plenty of demos and capacity for two real accounts.
- It has an automatic trading system.
- The software consists of two components, so there is no official version.
- You cannot display other markets.
- Despite being able to perform expert robots and technical indicators, it can only be done through the programming language available.
Among the platforms you can find quite unique and practical features, in the case of Visual Chart, which is a multitasking broker, it is mainly designed for technical, graphic and fundamental analysis.
- It has more advanced graphics to the average, personalized tables, news, etc.
- A quantity in excess of 200 indicators.
- Easy customization of its graphical interface.
- Possibility of downloading for historical graphics.
- Quite complex and complicated to use.
- It was created to meet the expectations of the most experienced traders.
- You must pay for the system.
- The mobile application only works with Windows phones.
The following is a MultiBroker platform that has as its main feature, the execution of the analysis, this has generated a great growth since its formation in 2003, and is currently supported through more than 150 brokers in the world.
- It operates especially for futures trading, in addition to allowing stocks, Forex and CDFs.
- It has a wide range for the customization of its graphical interface.
- In real time and with strategy backtesting, which means that trading tests can be performed in priority times.
- Possibility to download historical data.
- It has a fairly heavy learning path.
- The data source is not included.
- The number of brokers that can be associated is not as striking as other platforms.
- It is considered mostly for experts.
Within the different Forex platforms, we could appreciate some very friendly for those who are starting, as in turn there were also some that are more associated for experts, however, each person should know and interpret each and every one of them. In this way, you can determine which one can be the right one to start or continue a career in the most famous Forex trading platforms.