• Sun. Jun 13th, 2021

Best Forex Trading Platform

Best Forex Trading Platform
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To trade forex, you need an online broker. Trading with a trusted forex broker is crucial for success in international currency markets. As a currency trader or investor, you may have specific needs related to which platform, tool, or research requirements you have. Understanding your investment style can help determine which fx broker will be best for you.

Each year, our team here at https://ForexBrokers.com spends five months testing the biggest names in foreign exchange and assembles a guide to the best forex brokers for forex and CFDs trading. Here are our findings for 2021.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best Forex Trading Platform

Best Forex Brokers for 2021

  • IG – Best overall, most trusted
  • Saxo Bank – Best for research
  • CMC Markets – Best web platform, most currency pairs
  • Interactive Brokers – Great for professionals and institutions
  • TD Ameritrade FX – Excellent trading platform, US only
  • City Index – Great all-round offering
  • XTB – Best customer service, great platform
  • FOREX.com – Great all-round offering
  • eToro – Best copy trading platform

IG logo

Best overall

Regulated and trusted across the globe, IG offers traders the ultimate package of excellent trading and research tools, industry-leading education, competitive pricing, and an extensive list of tradeable products. This fantastic all-round experience makes IG the best overall broker in 2021. (75% of retail investor accounts lose money) Read full review Saxo Bank logo

Best for research

For traders that can afford the USD 10,000 minimum deposit (GBP 500 for the UK), Saxo Bank offers competitive pricing, excellent trading platforms, brilliant research, reliable customer service, and over 40,000 instruments to trade. (66% of retail investor accounts lose money) Read full review CMC Markets logo

Best web trading platform, most currency pairs

CMC Markets is a globally trusted broker that delivers a terrific offering for traders thanks to excellent pricing, nearly 10,000 tradeable instruments, and the Next Generation trading platform, which comes packed with quality research, innovative trading tools, and powerful charting. (73% of retail investor accounts lose money) Read full review Interactive Brokers logo

Great for professionals and institutions –

Professional forex and CFD traders seeking a global multi-asset broker will find Interactive Brokers offers a sophisticated, institutional grade trading platform, and competitive fees. (66% of retail investor accounts lose money) Read full review TD Ameritrade logo

Excellent trading platform, US only

With nearly 80 currency pairs to trade alongside a plethora of trading tools and research, TD Ameritrade’sthinkorswim platform provides US-based forex traders a winning experience. Read full review City Index logo

Great all-round offering

Backed by GAIN Capital, City Index is a trusted brand that traders choose for its advanced trading platforms, excellent mobile app, diverse market research, education, and extensive range of markets. Read full review XTB logo

Best customer service, great platform –

As a trusted multi-asset broker, XTB offers traders outstanding customer service and an excellent trading experience overall thanks to the xStation 5 trading platform. (82% of retail investor accounts lose money) Read full review Forex.com logo

Great all-round offering –

While not a discount broker, FOREX.com is a trusted brand that delivers an excellent trading experience for forex and CFDs traders across the globe. (79% of retail investor accounts lose money) Read full review eToro logo

Best copy trading platform

eToro is a winner for its easy-to-use copy-trading platform where traders can copy the trades of investors across over 2300 instruments, including exchange-traded securities, forex, CFDs, and popular cryptocurrencies. (67% of retail investor accounts lose money) Read full review

2021 Category Winners Best Forex Trading Platform

For the ForexBrokers.com 2021 Annual Review, all online broker participants were assessed on 108 variables across seven Primary categories. 2,916 data points were collected in total. Here’s how we tested.

Alongside Primary categories, ForexBrokers.com ranks brokers by the most popular Investor categories. Finally, each year ForexBrokers.com honors the brokerages who go above and beyond in the areas that matter most to investors.

Best Forex Trading Platform

Other Best Forex Brokers Platform

In addition to our top nine online brokers for 2021, there were 18 other brokerages we reviewed: Swissquote, FXCM, AvaTrade, XM Group, FP Markets, Plus500, Pepperstone, IC Markets, Tickmill, OANDA, FxPro, Vantage FX, Moneta Markets, HYCM, Eightcap, VT Markets, BlackBull Markets, and Octa FX. Here’s our high-level takeaways for each broker. To dive deeper, read our reviews.

10. Swissquote, “Traders willing to pay a premium to have their brokerage account held with a Swiss bank choose Swissquote for its competitive, multi-asset offering. That said, Swissquote’s UK-based offering provides better pricing despite offering a smaller range of markets.” Read full review

11. FXCM, “While the range of tradeable markets is narrow and pricing is just average, traders that appreciate robust trading tools alongside quality market research will find FXCM to be a winner.” Read full review

12. AvaTrade (Visit Site), “AvaTrade is a trusted global brand best known for offering traders an extensive selection of trading platform options. Our testing found AvaTrade to be great for copy trading, competitive for mobile, mostly in line with the industry average for pricing and research, and a winner for investor education.” Read full review

13. XM Group (Visit Site), “While XM Group struggles to stack up against industry leaders, in terms of its platform offering, range of markets, and pricing, XM Group provides an outstanding offering of quality educational content and market research.” Read full review

14. FP Markets (Visit Site), “While FP Markets trails industry leaders in research and education, spreads on MetaTrader are highly competitive, helping FP Markets shine as a low-cost broker for forex and CFDs trading.” Read full review

15. Plus500, “Plus500 is a trusted global brand that offers online traders an easy-to-use trading platform and a thorough selection of CFD instruments. However, Plus500 trails industry leaders in market research and advanced trading tools desired by active traders.” Read full review

16. Pepperstone (Visit Site), “While Pepperstone offers a small set of tradeable products, it provides one of the largest selections of third-party platforms, including multiple social copy trading options.” Read full review

17. IC Markets (Visit Site), “IC Markets caters exceptionally-well to algorithmic traders through its commission-based accounts. That said, the range of markets, and research materials offered by IC Markets are not as impressive.” Read full review

18. Tickmill, “Tickmill is a plain vanilla MT4 broker offering a minimal selection of tradeable securities. That said, Tickmill offers very competitive commission-based pricing for professionals through its VIP and PRO accounts.” Read full review

19. OANDA, “As a trusted global brand, OANDA provides forex and CFD traders a limited offering of FX pairs and CFDs but stands out for its reputation and quality market research.” Read full review

20. FxPro (Visit Site), “FxPro competes among the top MetaTrader brokers, offering the full suite of MT4 and MT5 platforms with multiple accounts and execution methods. The primary drawback to an otherwise balanced offering is pricing that is higher than the industry average.” Read full review

21. Vantage FX, “While offering forex and CFD traders the MetaTrader platform suite, multiple social trading platforms, and a proprietary mobile app, Vantage FX trails industry leaders in key areas, including mobile apps, research, and education.” Read full review

22. Moneta Markets “As a new standalone brand within Vantage Group, Moneta Markets struggles to compete with the industry average in the primary categories that are most important to forex and CFD traders.” Read full review

23. HYCM (Henyep Markets) (Visit Site), “While its storied history is impressive, when it comes to forex and CFDs trading in Europe and its surrounding countries, HYCM fails to impress.” Read full review

24. Eightcap, “With a small range of markets and no standout features across its research, education, platforms, and account offerings, Eightcap struggles to compete with the best forex brokers.” Read full review

25. VT Markets, “VT Markets benefits from being part of the Vantage Group of companies, yet struggles to compete with the best forex brokers due to a limited offering of research, platforms, and tools, as well as a limited range of available markets to trade.” Read full review

26. BlackBull Markets, “With just MetaTrader 4 available alongside a handful of social copy trading platforms, BlackBull Markets offers a limited product range and struggles to compete with industry-leading forex brokers.” Read full review

27. Octa FX, “OctaFX offers traders a mostly vanilla MetaTrader and cTrader trading platforms experience. Beyond its European license in Cyprus, OctaFX lacks regulation in major jurisdictions, which puts it at a severe disadvantage compared to other trusted forex brokers.” Read full review

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