30 Jan
30Jan

  The forex market is a global marketplace and the largest financial market in the world that allows traders buy, sell, hedge and speculate on global currencies 5 days a week and 24 hours daily. Forex is mostly dominated by large banks, organizations, financial institutions and retail investors. An interesting fact about the market is the absence of physical locations or trading venues before currencies can be traded or exchanged. Instead, forex participants take part in the market via computer networks and several trading terminals connected globally.

To trade the forex market as an individual trader or investor, you need a reputable and trusted online broker that provides a good platform, trading tools and other services that will make your trading a success. there are so many brokers in their thousands on the internet these days, This can make choosing the right forex platform difficult. We've reviewed and selected the best 5 in 2022. The brokers selected have an efficient trading platform, are regulated, offer low fees and give access to several asset classes asides forex you can trade. like: Stocks, ETFs, bonds, Cryptocurrencies and More. Much more importantly, they have good reviews from other professional traders in the forex world.

THE BEST 5 FOREX PLATFORMS.

1. FOREX.COM

  A very popular choice among traders and investors. Forex.com is very trusted in the forex industry and it's become one of the the most regulated with four (4) tier 1 jurisdictions. it's a publicly traded company too.

Forex.com has 80 currency pairs, 9 cryptocurrencies, 20 stock indexes, 29 commodities, 380 stock CFDs and more. In countries like the U.S and UK, You will not be able to trade cryptocurrencies with this broker.

You can start trading on forex.com with an initial and minimum deposit of $100.They are one of the leading brokers when it comes to research. Users are provided with access to training, weekly webinars and articles on different subjects.

KEY FEATURES.

  • High trade execution
  • Fast trading platform options (Ninja trader, Metatrader 4&5)
  • Advanced tools
  • Wide range of markets
  • Excellent market research

2. INTERACTIVE BROKERS.

  This broker was built with the needs of professional and advanced traders in perspective. Asides the forex market, There's also access to investing in stocks and other assets. Founded in 1978, Interactive Brokers have over $8 Billion in equity capital and has licenses in 6 tier-one jurisdictions. Trader Workstation(TWS) is owned by the broker. It's a powerful software platform with advanced charting tools and can be complex in the beginning even for professionals sometimes. It's absolutely not for beginners. You'll have access to about 8000 CFDs and over 100 Currency Pairs and more using this broker.

KEY FEATURES.

  • Free and Advanced trading tools
  • Educational content for traders
  • Over 20 different order types
  • Wide range of global markets
  • Powerful trading platform(TWS)

3. TD AMERITRADE.

  TD Ameritrade has over 75 currency pairs you can choose from, and comes with options to customize your dashboard on the platform as you wish. You'll have access to over 382 technical indicators, They have the most number of indicators by any forex broker globally. "thinkorswim" software platform is owned by TD ameritrade and it also includes lots of tools and options for traders. They are the most used broker in the U.S

KEY FEATURES.

  • Very trusted and stable platform
  • One of the oldest forex brokers(Founded in 1975)
  • Low trading fees/cost
  • Unlimited platform tools
  • Available to U.S traders only.
  • Not compatible with Metatrader.

4. IG.

  You'll have access to trading several assets aside the forex market. A huge selection of over 19,000 markets. IG is one of the leading forex providers globally. IG has 80 currency pairs, supports over 100 indicators(ProRealTime), can be accessed on Metatrader 4(MT4), Supported on iOS and Android devices and has a very user friendly web-platform. IG is Regulated in the U.S by the NFA and CFTC.

KEY FEATURES.

  • Outstanding web and mobile trading platforms
  • Low forex spreads
  • Competitive pricing
  • Advanced trading platform
  • 19000 assets available
  • Large variety of assets to trade.
  • Regulated globally

5. ETORO.

  This broker has recently hit over 13 million users globally. Founded in 2007, Regulated in two tier-1 jurisdictions and 1 tier-2 jurisdiction. This makes it a low-risk and safe broker for trading forex and CFDs. Etoro offers 50 forex pairs, Over 2000 Stocks and more. they have an easy to use trading platform with powerful tools included. One of the best features that makes etoro attractive is it's copytrader capability. This allows registered users of the platform to copy the trade and strategies of other successful traders, You can view the portfolio of other traders, see the historic performance of their trades and investments before you decide if you'll copy their trades or not.

KEY FEATURES.

  • Copytrading
  • Research tools robust regulation
  • Flexible leverage
  • User-friendly trading platform
  • Large community of traders.

In conclusion, The forex market is not owned or controlled by anyone. There will never be a single organization or institution that will restrict the market in anyway. While trading the market is risky, You can make it easier by choosing a regulated, reputable and trustworthy broker. Most of the platforms listed above have options to automate your trades, use trading bots, access advanced tools and also low trading costs.

For more information regarding forex trading and Forex brokers, You can send us a message, We'll be glad to offer guidance and help on your trading and investing journey.

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