In addition to the competition between currency trading companies, there is no less fierce competition between trading platforms globally, we have researched and compared the best global trading platforms for you.
With the increasing competition among forex brokers to capture a share of the growing global forex market, many are paying less attention to the forex software sub-sector, especially forex trading platforms.
Since 2005, MetaQuotes and the MT4 trading platform have dominated the sector, but over the past five years, other providers have been able to increase their market share due to a lack of innovation by MetaQuotes. Instead of benefiting from the massive success, the Cyprus-based company felt comfortable with its market position and allowed competitors to find highly competitive alternatives. MT4 maintains the number one position in automated trading solutions, and the MT4 infrastructure fully supports third-party developers. The combination of the two ensures that even fifteen years after its launch, no other forex trading platform has surpassed MT4. This does not mean that there are no competitors, but MT4 is the only one offered by almost every online forex broker.
FXTM
Company rating: 5.0/5
The best brokers in all respects: high variable leverage, welcome bonus, and fast execution.
We have made FXTM our top rated broker because in addition to their long track record, they have a very high level of regulation and reputation, and they offer a very competitive fee structure that tends to lower the cost of trading. FXTM, a subsidiary of ForexTime, has been around for a long time: it was founded in 2011. Recent years have seen it continue to expand its business significantly.
Company details :
Company location: Cyprus
Financial Supervisory Authorities: CySEC, FCA, FSC Mauritius, CMA
Year of foundation: 2011
Forex company type: 35,38
Minimum deposit: $10
Maximum leverage: 1:2000
Platform type: MetaTrader 4, MetaTrader 5, proprietary platform
FXTM Pros and Cons
Positives
1- Excellent organization/excellent reputation
2- ECN Account Options
Negatives
1- MetaTrader platforms only offer
2- Do not accept clients from several countries
AVATRADE
Company rating: 5.0/5
Subject to many regulations, choosing between fixed or moving spreads.
for dealers. The company has a high and strong level of regulation, which makes it a favorite for traders who are very concerned about the security of their deposits, which can be protected in Ireland by providing strong investor deposit protection.
Company details :
Company location: Republic of Ireland
Financial Supervisory Authorities: Central Bank of Ireland, ASIC, BVI, FFAJ, FSCA
Year of foundation: 2006
Forex company type: market maker
Minimum deposit: $100
Maximum leverage: 1:400
Platform type: MetaTrader 4, MetaTrader 5, Proprietary Platform, Online
1- Fixed and floating spreads
2- An easy-to-browse multilingual website
3- Provide a demo account to learn
Negatives
1- one standard account
2- Long checkout
eToro
Company rating: 4.5/5
Best broker for social trading and cryptocurrency traders.
eToro is a veteran forex broker founded in 2007 under the name RetailFX in Israel. This brokerage is one of the pioneers of social trading, and in 2017 the company announced that more than 8,000,000 accounts were opened with eToro. eToro has attracted over $162 million in funding and has thrived by offering cryptocurrency trading options that most other forex brokers do not offer.
Company details :
Company location: Cyprus
Financial Supervisory Authorities: CySEC, FCA, FSA, ASIC
Year of foundation: 2007
Forex company type: market maker
Minimum deposit: $50 - $10,000
Maximum leverage: 1:30
Platform type: proprietary platform
Legacy FX
It is the usual broker with stable deposit/withdrawal capabilities
Legacy FX Legacy FX is the trading name of a Vanuatu company AN ALL NEW INVESTMENTS (VA) LTD. This broker has been in operation since 2017. It offers an impressive range of assets, and is among the rare breeds of brokers that only offer the MT5 trading platform. This broker claims that transparency is one of its main goals, along with protecting its clients. Legacy FX also promotes education as one of the most important pillars of its services. Reading "Why Trade With Us" indicates that the site's services are geared towards new traders. Legacy FX operates out of its offices in Belarus, Bulgaria and Cyprus, with a research and development office in Ukraine.
AVATRADE Pros and Cons
1- well organized
2- Wide range of tradable instruments
3- Metatrader 4 and 5 program.
4- High leverage
Negatives
1- Wide price differences.
2- The minimum initial deposit is high
Trade360
Easily open accounts and the possibility of social trading that allows the trader to track trading patterns.
Trade360 is the trading name of "Crowd Tech LTD". It is a Cypriot market maker and investment company that has been operating since 2013, CFD brokerage. Trade 360 has emerged with its social trading activity in the financial market. This broker offers its traders and clients its own trading platform, developed by CrowdTrading, which provides trading information from all its clients to improve the decision making process, and as an attempt to benefit from knowledge research, explore the efficiency of crowd decisions over individual expert decisions.
AVATRADE Pros and Cons
1- Providing trading assets other than forex.
2- Group trading feature
Negatives
1- Limited choice of platforms.
2- Unavailability of an educational center
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