Trading platforms are like a bridge between you and your target financial market. So whether you are interested in stocks, Forex, and commodities, or digital currencies, you need to find a free platform that suits your needs. Here we strive to introduce you to the best platforms in 2021 and beyond. These platforms result in the best and the fairest commissions, the most diverse assets, and, of course, the best legal standing. Among the top Forex brokers for 2021, we are going to discuss 5 of the best ones in this article.
1. XTB: overall the Best Forex Broker
XTB, as one of the largest Forex brokers globally which has a great reputation for providing the best trading experience among the others. They have been a veteran in the space since about 2002, although not necessarily the most senior (IG probably makes that distinction).
However, with about two decades of experience, this platform has developed superior technology that continues to adapt and improve and has earned us a place on our list of the best Forex brokers. After becoming a foreign exchange brokerage in Poland, they expanded rapidly and now have thirteen offices across Europe. With XTB, you can trade in more than 2,100 global markets and access a wide asset class of over 4,000 instruments.
2. IG: Best for the U.S. Traders
The IG Group, under which the IG trading platform operates, has been around for nearly half a century. In total, the company has more than 178,000 customers worldwide, all of whom trust their investments in IG.
Well, this is to be expected only with a company that has 46 years of experience and is listed on the London Stock Exchange. The company also has offices in 16 different countries and has received numerous awards in the industry for the quality of its services.
Setting up an account with IG is very easy. You just fill out the form, which contains a few questions to help you figure out how experienced a trader you are. After filling out the form and submitting it, you will be confirmed almost immediately.
Now, everything is ready and you can start trading right away. Just secure your account and trade. Of course, you can also withdraw funds whenever you want. If you trade super high volume month after month, IG promises you a personal account manager. See it as an IG way to thank your business.
3. CMC Markets: Currency Trading Regulated Broker
CMC Markets attributed the first Forex online trading in 1996 using the platform’s proprietary MarketMaker software.
The first office was opened in Sydney, Australia and now the company has branches in New York and Toronto. Goldman Sachs now owns 10 percent of CMC Markets.
Traders can trade through CFDs and spread betting. Although the spread will be different, it is very competitive. On average, a trader can count on a spread of 0.8 pips or something in that range. Using CFDs and spread betting, Forex, indices, digital currencies, commodities, stocks, stock portfolios, and treasuries are all tradable. Aware of the wide variety of experience levels among traders, CMC Markets offers one of the best Forex broker platforms that is both intuitive and powerful. You can choose from over 70 chart patterns and dozens of chart types. Cover your charts with 115 technical markers and drawing tools for maximum insight.
4. Forex.com: Highest customer satisfaction
With brand recognition (especially as part of StoneX), Forex.com is a popular choice and often one of the first forex trading platforms for investors to look at. As an online broker traded publicly on NASDAQ, Forex.com is highly trusted in the industry. They are also controlled by four-level jurisdictions.
US-based users also flock to Forex.com because of its longevity (around 2001) and a large number of currency pairs available. At the time of publication, Forex.com offers more than 80 pairs of FX. They also offer the ability to trade gold and silver as well as futures and futures options. In some countries, you can use Forex.com to trade digital currencies and other assets, but this feature is not currently available in the United States.
Although Forex.com does not have the lowest prices, it offers flexible and competitive costs based on five different levels, from standard to professional. The typical spread for most Forex pairs is 1.3 pips and sometimes higher than 2, although single pip trades are available for some pairs. In extremely favorable conditions, the spread can be up to 0.77 pips.
The goal of the platform is to cover almost anything you want to do with currencies, and this breadth gives it a very diverse set of tools. For Forex beginners, OANDA is also one of the best trades on the market. While platform spread prices are high for the industry, its core accounts offer a good deal compared to competitors. The combination of extensive features and low prices makes OANDA a great platform for investors who want to trade casual currency alongside other related businesses.
Forex trading is a risky business, if you are not ready for the challenges, you should not enter it. For good business, you need to have a thorough understanding of the financial market. You also want to make sure that you know how to distinguish legal agents from fraudulent ones. Fortunately, now you have our list of the best online Forex traders that assists you.