Best Forex Broker – Best Forex Trading Platform

Forex Trading Platforms

Depending on where you are in the world may have an effect on what company you choose as your brokerage.  We have assembled what the best forex trading platforms from all over the world and made an online forex brokers comparison.  Have a look!

  • Oanda – The best US Forex Brokers
  • Tradersway – US Forex Broker
  • Pepperstone – The best forex broker in Australia
  • IG – The best forex broker in the United Kingdom
  • Plus500 – The best trading platform
  • FxPro– The best cTrader forex broker
  • eToro – The best copy trading forex broker
  • AxiTrader – The best MetaTrader 4 forex broker

Oanda – Best forex broker in the United States

best forex broker in united states

Founded in 1995, Oanda is a USA forex broker and one of the oldest forex brokers. The broker offers competitive spreads that start from 0.6 pips on major currency pairs. Powerful trading tools are available and compatible with MetaTrader 4 trading platform.

Oanda is a regulated broker that’s licensed to offer its service in the United States, Canada, Europe, Australia, and Asia-Pacific.

Trading Products

Oanda offers the following financial products to trade on their platform:

  • Forex
  • Indices
  • Metals
  • Commodities
  • Bonds

Account Types

Standard and Premium accounts are the available account types to choose from Oanda broker. Both account types are similar, except for minimum account balance, priority service queues, and open order indicators.

Standard account requires no minimum account balance and is a great platform for forex trading for beginners. Premium account types require a minimum account balance of $20,000.

Spreads & Commissions

The commission fee per 1 standard lot is $3.50 or $7.00 per 2 standard lots. Besides the transaction costs, Oanda charges an inactivity fee. A fee of $10 per month if you do not trade for at least 24 months (12 months in the US).

Spreads start from 0.6 pips on EUR/USD. Cross-pairs and exotic pairs have a higher liquidity on the market, so the spreads can shift very quickly.

Oanda Minimum Deposit

There is no minimum deposit for Oanda. However you can only deposit up to 50% of your net worth.

Trading Platforms

Oanda broker offers 4 options of trading platforms that you can choose to trade. Trade web, Trade desktop, Trade mobile & tablet app, and MetaTrader4 are the available platforms.

The platforms are available on many devices and offer a full trading experience. With one-click currency trading, you can open and close trade, use analytics tools, protect your trades against unexpected price swings, and more.

Besides the trading platforms, Oanda offers a variety of trading tools. The list of trading tools include:

  • Tools overview
  • Advanced Charts
  • Forex open position ratios
  • Forex order book
  • MT4 open order indicator
  • Technical Analysis
  • Trading performance portal


TradersWay – Best forex broker in the United States

best forex trading platform united states

The best MetaTrader 5 forex broker

Tradersway broker offers the best experience for the MetaTrader 5 platform. You can choose 4 account types to trade on different trading platforms. Tradersway broker offers access to 4 trading instruments like forex, metals, energies and cryptocurrencies.

There’s no limitation on the minimum deposit amount and you can trade with tight spreads. The maximum leverage is allowed up to 1:1000 and you  can also enjoy bonuses and promotions.

MetaTrader 5 platform

Tradersway forex is one of the best online brokers when it comes to the MetaTrader 5 platform. The platform allows several tradersway account types for trading on multi instruments including forex, crypto, metals and energies. You can use the trading platform to analyze forex charts on a full experience. Many tools are available to draw support and resistance zones, use fibonacci tools and more.

From the time frames, Tradersway platform supports up to 21 time frames and a long list of indicators. Expert advisors (EAs) are allowed so you can set up robots to trade automatically for you. The platform supports all types of orders with a quick  expected speed. With a single click you can open buy or sell positions immediately. Tradersway platform supports up to 100 charts in the platform, so you can monitor multiple financial instruments.

Social Trading

As we mentioned, the platform supports multiple time frames including the seconds, minutes, hourly, daily, weekly, and monthly. MetaTrader 5 platform provides access to over 80 technical indicators and analytical objects.

Additional indicators can be added on the platform easily with not a single issue.

The economic calendar will inform you with the latest financial news on the platform itself. News reports from international news agencies and forecasts on currencies and stocks are available too.

Besides the features and many benefits that you get with Tradersway MetaTrader 5 platform, there are other tools and features available. Social trading is available too with a simple platform that allows you to copy trades from other traders.

The copy trading process is very simple, all you need to do is choose the signal provider and complete the process by subscribing to the trader. Once you do that, all the trades will automatically open on your trading account too.

Tradersway App:

Tradersway offers metatrader for iPhone and Android.  Using mobile terminals in daily activities offers a way to keep up with your accounts when you don’t have access to a desktop computer.

Tradersway Minimum Deposit

There is no minimum deposit to get started.   For ECN accounts the minimum deposit is only $10.


Tradersway bonus offers a 100% deposit bonus when you deposit funds. The bonus will be automatically credited to your account once you choose the deposit bonus from the drop down list and accept the terms and conditions. 100% deposit bonus is limited to $5,000 per account and cannot be withdrawn.

Pepperstone forex review- Best broker in Australia

best forex broker australia

Next on our list of best forex brokers is Pepperstone fx. Pepperstone is one of the top forex brokers in Australia. The broker was founded in 2010 and it has more than 50,000 traders registered. Pepperstone is regulated by the Australian Securities and Investments Commission (ASIC) in Australia and Financial Conduct Authority (FCA) in the United Kingdom.

Trading Products

From the trading products, Pepperstone offers a variety of financial products to trade including:

  • Forex
  • Index CFDs
  • Stocks
  • Commodities
  • Cryptocurrencies

Account Types

Traders can choose from 2 account types to trade, Standard, and Razor. Both accounts offer almost similar features, the main difference is on the variable spreads and commissions. Standard account provides spreads that start from 1 pip, although the commission does not apply.

Spreads & Commissions

Razor account offers tight spreads that start as low as 0 pips, however the commission applies on trades. A commission fee of $3.50 per 1 lot will apply to all positions opened with the Razor account.

Trading Platforms

The most popular online trading platforms, Pepperstone MetaTrader4 and Pepperstone mt5 are available on both account types. Besides MetaTrader platforms, Pepperstone also offers a cTrader and web trading platform. MetaTrader 4 and 5 come with pre-installed indicators and many features.

cTrader is an advanced trading platform that offers a unique design and outstands other trading platforms. WebTrader is an online web platform that allows trading through web browsers such as Chrome, Firefox, Edge, etc.

Pepperstone Deposit

The recommended pepperstone minimum deposit to trade is AUD$200 or equivalent. However, you can deposit less than this to get started.

See our Pepperstone sign up below.

IG – Best forex broker in the United Kingdom

Best forex broker in the United Kingdom

IG forex broker has operated since 1974 and it has more than 239,000 clients worldwide. The broker offers over 17,000 markets to trade and with multiple trading platforms supported. IG Group is regulated by the UK’s Financial Conduct Authority (FCA).

Trading Products

IG forex trading offers more than 17,000 financial markets to trade. As a client of IG broker, you can trade:

  • Forex
  • Indices
  • Stocks
  • Commodities
  • Cryptocurrencies

Account Types

IG offers only account type but some of the products are limited in some countries. Trading products are fully available to United Kingdom clients. If you’re from the United States, then, you cannot trade CFD products.

Spreads & Commissions

Spreads on forex pairs start from 0.6 pips and can go above that when you trade other currency pairs. When it comes to commission fees, IG applies a price that’s higher compared with other brokers.

Per each standard lot position opened, you’ll be charged $10 per position. Besides commission fees per open trades, IG also charges inactivity fees. Clients that do not trade in a period of 24 months will be charged with a monthly fee of $18.

Trading Platforms

IG broker of faster and smart trading platforms. One of the most popular trading platforms, IG mt4 it’s available for IG clients. Besides MetaTrader 4, there are other platforms available including custom mobile and desktop trading platforms.

Other tools are available such as technical signals, that give you indicators whether to buy or sell. Algorithmic trading it’s available to use, so you can trade based on your created algorithms. You can also set up alerts when your target prices reach the configured level.

IG Forex Leverage

IG offers a relatively low maximum leverage of 50:1, whereas many other forex providers offer leverage of up to 500:1.

Plus500 – Best trading platform

Best forex trading platform UK

Plus500 broker based in the UK offers more than 1000 financial instruments to trade. Plus500 offers competitive pricing spreads with no commission and a unique trading platform. The broker is known for its custom advanced trading platform and its features.

Over 2000+ products available

Plus500 provides access to over 2000+ products such as:

  • Forex
  • Indices
  • Commodities
  • Crypto
  • Stocks
  • Options
  • ETFs

Notifications & Alerts

Plus500 trading platform alerts in real-time with notifications. You can configure notifications so you will receive notifications on your phone via SMS, email, or push notifications. Alert notification will let you know when a certain price of the forex market reaches the price that you’ve configured to alert you.

Risk Management

One of the features that is different from other platforms is risk management. Compared to other platforms, Plus500 forex offers an advanced risk management system. The features give you maximum protection from a negative balance.

Risk management system includes these features:

  • ‘Close at Profit’ [Stop Limit] or ‘Close at Loss’ [Stop loss] rates
  • Guaranteed Stop
  • Trailing Stop

With these features enabled, you’d guaranteed a risk protection for your account. In scenarios when you’re suffering a huge loss on your trades, risk management closes your trades at the level price that you’ve set.

Besides the negative balance protection,  risk management also closed your trades automatically at the price level that you’ve set. So, your take profit level will be executed automatically.

Mobile & Windows compatibility

Plus500 forex trading platform it’s available on Windows 10, Plus500 Android, and Plus500 WebTrader. The platform can be used on the systems that we mentioned and the platforms offer similar functions on all devices.

However, using the trading platform on WebTrader or using the application on Windows gives you a “full experience” of the platform. Some features can be more difficult to use on the Plus500 app on Android. So, using the app on Windows and Android can have a bigger impact on your trading analysis.

Is Plus500 Good For Beginners?

Plus500 is good for beginners and is user friendly.  Plus500 minimum deposit is $100 USD.

See the Plus500 bonus by opening an account below.

FxPro – Best cTrader broker

FxPro - Best cTrader broker

FxPro is one of the best forex brokers for its platform, cTrader. The platform offers a seamless experience to analyze the forex markets and access the foreign exchange market in full-depth. Spreads start from 0 pips and there are no restrictions on stop/limit levels.

Fast Order Execution

cTrader platform it’s known for its complexity and fast order execution. FxPro offers a cTrader platform to its clients ensuring there’s a low latency and fast execution of trades. cTrader server offers under 1ms latency with data centers located on major locations.

Smart Stop Out

One of the main features of the FxPro cTrader platform is the “smart stop-out”. This feature is designed to provide maximum to the forex trader’s accounts. Smart stop out uses a much more advanced algorithm that improves the way of stop out.

In situations where the margin level falls below the smart stop out level, positions will start to close partially. Positions will continue to close until the margin level goes above the smart stop out level.

FXPro Minimum Deposit

The FxPro MT4 and MT5 have an FxPro minimum deposit of $500.

Other features

Besides an advanced design and seamless experience, the FxPro cTrader platform offers other features such as:

  • Real-time forex and CFD quotes
  • No restrictions on limit orders
  • Detachable charts
  • Expanded symbol display
  • One-click trading
  • Funding and withdrawing options
  • Full market depth
  • Open a FXpro demo account below

eToro – Best copy trading broker

eToro - Best copy trading broker

eToro forex copy trading offers a unique trading platform that’s different from other brokers. If you want to become a copytrader then copy trading is the inbuilt platform that has made eToro one of the leading brokers for copy trading. The unique innovative system allows forex traders to trade by copying other traders.

Copy Trading

The etoro copy trade feature allows you to view other professional traders and copy their traders instantly. The copy trading feature is automatic and you can copy trades within a couple of seconds. eToro does not charge hidden fees and management fees known as inactivity fees.

To copy trades from other professional traders, all you need to do is search for traders. You can search traders by performance, assets, risk score, and other options. Once you select the trader, you’ll need to choose the amount that you wish to trade by copying the trades. Then, all you have to do is hit the “Copy” button and the copy trading will begin automatically.

eToro’s copy trading platform allows traders to copy up to 100 traders. When you start copying trades, the stop loss and take profit will be the same according to the trader that you are copying. If the trader adjusts the stop loss or take profit, that will affect your stop loss or take profit too.

A minimum deposit of $200 is required so you can start investing by copying trades. The maximum amount that you can invest by copying trades is limited to $2,000,000. Besides copying other traders, you can also allow other traders to copy your trades. To do that, you’ll need to become part of “eToro’s Popular Investor Program”.

Social Trading

eToro social trading is similar to social media sites. eToro has created a social news feed style that is unique by allowing traders to explore. With social trading, you’ll be able to interact with other members of eToro by starting discussions, replying, posting your updates, and more.

You’ll be notified when other users that you’re following post a new status or update, and add assets to the watchlist. Notification will appear on web platforms and mobile devices with push notifications. eToro’s social trading platform allows you to create a profile that can be viewed by other members. From your profile, you will be able to show your social activity including posts, comments, trades, and more.

eToro Fees

eToro offers free stock trading. On the negative side, forex trading fees are high and there is a fee charged for inactivity or withdrawal.

AxiTrader – Best MetaTrader 4 broker

AxiTrader - Best MetaTrader 4 broker

AxiTrader was founded in 2007 and it offers its service in more than 100 countries. AxiTrader is one of the best MetaTrader 4 brokers that offers low spreads with a $0 deposit.

MetaTrader 4 platform

AxiTrader offers only the axitrader mt4 as the forex trading platform to trade. MetaTrader 4 is one of the most used platforms by traders. The platform is customized and comes with customizations and features. Traders can download MetaTrader 4 on PC, Mac, Android, iPhone, and iPad.

Besides these devices, MT4 WebTrader is available and can be used to trade directly from a web browser. MetaTrader 4 offers flexibility in forex trading with different tools to analyze the forex market. Real-time charting allows you to view the market with live charting options. AxiTrader offers over 150 products traded on the MetaTrader 4 platform.


AxiTrader offers an artificial intelligence analytics platform for traders. PsyQuation is built using AI and machine learning that’s designed to identify strengths & weaknesses. The analyzing platform works as a private trading coach known as “mentor”. Artificial intelligence will analyze your forex trading history to improve your profitability of the trades.

The platform will alert you for potential trading mistakes based on past trading behavior. PsyQuation platform will also analyze your performance and trading style by comparing it with the latest data. PsyQuation score ranks your skill on a table that will help you to track your progress and predict future performance.

Axitrader Minimum Deposit

Axitrader has no minimum deposit. Axitrader also has an axitrader demo account you can open for free below.