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13 Best Forex Trading Platforms for 2024

Looking for the top forex trading platforms? Based on our hands-on analysis, we’ve identified 13 best options tailored to various trading needs. Practical tips from our experts are included.

By:
Jitan Solanki
Reviewed By:
Ola Alder
Updated: Nov 3, 2024

List of Top Forex Trading Platforms

Best brokers for US traders

Spreads from 0.8 pips in EUR/USD. Fast order execution. Feature-rich proprietary platform. Premium services, including rebates. Industry-leading research.

Cutting-edge WebTrader platform. Wide range of forex futures. Standard, Mini, and Micro contracts. Competitive commissions. 24/7 support via live chat and email. $100 minimum deposit.

Best brokers for international traders

Proprietary trading platform. MT4 and MT5 available. Trading Central signals. Wide range of account types.

MT4, MT5, TradingView, proprietary app. Vantage Copy Trading service. Third-party copy trading ZuluTrade, Myfxbook Copy, DupliTrade. Raw spread, ECN trading accounts.

MT4, MT5, IRESS. Raw spread ECN accounts. Extensive range of trading instruments. Tight spreads in forex. Trading Central and HUBx.

Intuitive proprietary Edge platform. MT4, MT5, cTrader. 2,100 trading instruments. In-house news and market analysis. Trading Central, LiveSquawk News. In-depth educational materials.

MT4, MT5, AcitvTrader, TradingView. MT4 for Windows, Mac, web, and mobile. Multiple account types. Enhanced protection of funds.

Proprietary Advanced Trader platform. MT4, MT5, and robo-advisors. Institutional and credit solutions. Tools for professional money managers.

Decent range of educational materials and live webinars. Multiple trading platforms. Free practice demo trading account. User-friendly trading tools.

17,000+ tradable instruments. Trading and investing accounts. IG Web Trader, MT4, ProRealTime, L2 Dealer platforms.*

Competitive fees. Raw spread accounts. MT4, MT5, cTrader. Trading Central and AutoChartist.

MT4, MT5, cTrader, IRESS. MAM, PAMM accounts. Trading Central, AutoChartist, Myfxbook Copy. Raw spread accounts.

32 cryptocurrencies. MT4, WebTrader, MAM, TradeCopier. Seven accounts. Trading Central and auto trading products.

*72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

How did FXEmpire select the Best Forex Trading Platforms?

FXEmpire's Methodology

When selecting the best forex trading platforms I delved into the global trading field and placed a higher amount of emphasis on making sure the broker fulfilled the core categories above as well as the following criteria:

  • I embarked on a comprehensive test drive of each broker’s trading platform testing the available order types, charting tools, watchlists, and user experience (UX). I placed particular emphasis on ease of use, ensuring that the platforms cater to traders of all skill levels.
  • I prioritized brokers that have a strong regulatory presence overseen by top-tier regulators. This ensures that traders can trust the brokers with their investments.
  • I meticulously tested various aspects such as spreads, swaps, inactivity fees, and withdrawal fees to evaluate the trading costs and find brokers that offer competitive pricing
  • I rigorously examined brokers’ customer service through phone, chat, and email interactions assessing the responsiveness and overall quality of provided help.
  • I deeply explored the educational and research resources offered by the brokers, including articles, webinars, and courses, as well as additional third-party tools and add-ons.
  • I sought to identify the brokers that provide a good variety of account types available on the offered platforms and suitable for both beginners and professionals.
  • Leveraging our extensive database of broker reviews, I conducted side-by-side comparisons to select the winning broker in each category.

Our team of experts has identified each broker’s strengths and weaknesses using FXEmpire’s comprehensive methodology. You can read more about it and how we conduct our tests here.

So, let’s dive in and discover the best forex trading platforms that you can trust for your trading journey.

Best Overall

General Risk Warning: CFDs are leveraged products. Trading in CFDs carries a high level of risk thus may not be appropriate for all investors. The investment value can both increase and decrease and the investors may lose all their invested capital. Under no circumstances shall the Company have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to CFDs.
  • Min Deposit
    $0
  • Tradable Instruments
    240
  • Fees
    Medium

Exness was founded in 2008 and is authorized and regulated globally including FCA, CySEC, and FSCA. The broker provides access to a wide range of asset classes that can be traded on the propriety Exness Terminal platform, as well as the MetaTrader 4 and MetaTrader 5.

As an experienced trader, I appreciated the ability to access both the MT4 and MT5 trading platforms, which offer extensive chart customization options and advanced algorithmic trading capabilities. However, beginner traders may find the Exness web terminal and trading app much easier to get started with.

I found the Exness Terminal to offer a great trading experience. The powered by TradingView charts are easy to use and interact with. There are more than 50 drawing tools and 100 indicators to choose from with a range of different chart types to trade from making it a great option for beginner traders.

The Exness mobile trading app provides 24/7 in-app assistance. This is very useful as, in my experience, being able to access customer support at any time makes for a much more seamless trading experience with a broker.

Exness offers a commission-free standard account and two commission-based professional accounts. After opening a standard account, I discovered that the average spread for EUR/USD was 0.9 pips, which is lower than the industry average of 1.0 pips for a commission-free trading account.

Pros
  • Multiple regulations and licenses.
  • Wide range of platforms for desktop and mobile.
  • Exness charts powered by TradingView.
  • 24/7 in-app customer support.
Cons
  • Not many third-party tools to integrate with.

Best for Copy Trading

Trading derivatives carries significant risks. It is not suitable for all investors and if you are a professional client, you could lose substantially more than your initial investment. When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial assets. Past performance is no indication of future performance and tax laws are subject to change. The information on this website is general in nature and doesn't take into account your personal objectives, financial circumstances, or needs. Accordingly, before acting on the advice, you should consider whether the advice is suitable for you having regard to your objectives, financial situation and needs. We encourage you to seek independent advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions.
  • Min Deposit
    $50
  • Tradable Instruments
    935
  • Fees
    Low

Founded in 2009, Vantage is authorized and regulated by ASIC and the CIMA. It provides the ability to trade on 200+ CFDs on a wide range of platforms that can be connected to top copy trading services.

From my research, I found that you access the Vantage Copy Trading service directly from the mobile trading app which is great to have everything available from just one app and not separated into many different ones. You can copy other successful traders or attract followers to earn commissions. The different social trading levels include Explorer, Rising Star, and Mentor with benefits – such as lower commission – the more followers and money you manage.

For more advanced traders, the MT4 and MT5 trading platforms will offer more features and customizations. You can also connect these platforms to third-party social trading and copy trading platforms such as ZuluTrade, as well as Myfxbook, and DupliTrade for a more robust copy trading solution.

Vantage offers three different types of accounts – The Standard STP Account, Raw ECN Account, and Pro ECN Account – suitable for all types of traders interested in copy trading. During our live fee test, I found the spread for EUR/USD during the London and New York session averaged 1.3 pips which is around the industry average of 1.0 pips for a commission-free trading account.

Pros
  • Vantage mobile app with in-built copy trading.
  • Range of third-party copy trading tools.
  • Ability to earn commissions from followers.
Cons
  • Research mainly geared toward advanced traders.

Best Account Offering

4.2
80.26% of retails CFD accounts lose money.
  • Min Deposit
    $100
  • Tradable Instruments
    10107
  • Fees
    High

Founded in 2019, TMGM is regulated by ASIC, FMA New Zealand, FSC Mauritius and the VFSC/ The broker offers over 12,000 tradable instruments, including forex, CFDs, stocks, commodities, bonds, and cryptocurrencies from MetaTrader 4 and the IRESS trading platforms.

There are two different account types to trade forex on: the Edge and Classic account. The Classic account is a commission-free trading account with spreads starting from 1.0 pip, while the Edge account is commission based at $7 per round turn with spreads from 0.0 pips.

From our live test on the Standard account, I found that the live spread for EUR/USD during the London and New York sessions averaged 0.9 pips which is better than the industry average of 1.0 pips for a commission-free account.

The MT4 platform is the go-to for forex traders and provides a wide range of indicators, chart types, and timeframes. You can also access the MetaTrader Marketplace for customized indicators and algorithmic trading strategies.

For stock traders, you can access the IRESS account which provides access to the IRESS trading platform. This is an advanced stock trading platform that provides DMA (direct market access) to 15,000 global shares. This means you can trade directly with the exchange or TMGM’s liquidity providers.

I found that the MT4 mobile trading app is the easiest and fastest way to trade for beginners to trade forex but offers limited technical analysis options. The desktop version of the platform, while offering more features, does have a learning curve. However, there are a lot of educational materials available to learn about the platform.

You can also access third-party tools such as Trading Central and HUBx. Trading Central provides a daily newsletter with emerging trading opportunities and market research as well as a Featured Ideas and Market Buzz sections. HUBx is a bespoke platform that helps fund managers trade client capital like the MT4 MAM or PAMM account technology.

Pros
  • Diverse account types.
  • Trading Central and HUBx available.
  • Commission-free trading account.
  • Wide range of tradable instruments.
Cons
  • Educational content and tools could be expanded.

Best Research Tools

73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing money. (EU, UK)
  • Min Deposit
    $100
  • Tradable Instruments
    2120
  • Fees
    Medium

FxPro was founded in 2006 and is regulated by the FCA, CySEC, FSCA, and SCB. It offers traders the opportunity to trade various asset classes including forex, stocks, indices, futures, and commodities from the MT4, MT5, cTrader, and the broker’s own proprietary FXPro Edge platform.

FxPro has a separate domain for its news and market analysis. Stories are broken down into 3 categories: Market Overview, Crypto, and Technical Analysis. Clients can also access several useful third-party tools and add-ons, including AutoChartist, TradingCentral, and VPS services. One basic but very much appreciated feature is the price level and executed order notifications by e-mail.

In our live test, I found that you can trade on more than 2,100 financial instruments: 70+ currency pairs including majors, minors, exotics, and emerging; 18 index CFDs; 30 cryptos CFDs, 7 commodity CFDs; and 2,000+ stock CFDs.

When testing the broker’s trading platforms, I assessed the FxPro Edge platform to be the most user-friendly and convenient option for beginners. Its web-based nature made it easily accessible, and it offered a wide range of customizable features. These included one-click trading, six chart types, 15 time frames, 53 technical indicators, and 13 drawing tools.

During our live fee test, I found the spread for EUR/USD during the London and New York sessions averaged 1.11 pips, which is around the industry average of 1.0 pips for a commission-free trading account.

Pros
  • 2,100+ tradable instruments
  • Decent selection of trading platforms
  • Top-notch research
  • Fast order execution
Cons
  • Inactivity fee

Best MT4

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.47% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • Min Deposit
    $0
  • Tradable Instruments
    1253
  • Fees
    Medium

Established in 2001, ActivTrades has become one of the top London-based brokers offering services globally. You can trade on more than 1,100 financial instruments covering forex, indices, stocks, and commodities from the MT4, MT5, ActivTrader, and TradingView platforms.

From testing ActivTrades services I was particularly impressed with the range of platforms available to trade on. The longest-standing and go-to forex platform is MetaTrader (MT4) which comes pre-loaded with a wide range of technical trading indicators and timeframes to trade from. There is also a wide range of order types that include market, limit, stop, and trailing stop orders. With ActivTrades, you can access the MT4 platform via a desktop platform (PC or Mac), web browser, or mobile trading app.

I found that the desktop platform offers the most robust experience as it allows you to access the MetaTrader 4 marketplace and download customized trading indicators and algorithmic trading strategies. For beginner traders, the mobile trading app is the easiest and fastest way to take a trade in a particular market but doesn’t offer as many analytical features as the desktop or web version.

I should also mention that the MT4 web version has undergone this year. It is now much similar to the web platforms of newer fintech companies such as TradingView. The updated MT4 web version comes with dark/light themes, and the ability to easily search symbols and add them to the chart with the click of a button.

The drawing tools options are now twice as big as they were and are laid out on the left side column making them far easier to access and use. Another new addition is the small flags on the bottom of the chart informing you have a high-impact news announcement being released from a particular country – effectively it is an inbuilt economic calendar which is a great addition.

During the live ActivTrades’ fee test, I found the spread for EUR/USD during the London and New York session averaged 1.25 pips which is around the industry average of 1.0 pips for a commission-free trading account.

Pros
  • Brand new, upgraded MT4 web platform
  • Competitive trading fees.
  • Enhanced fund protection.
Cons
  • Monthly inactivity fee.

Best Proprietary Software

Trading involves risks. Products and services of Swissquote are only intended for those permitted to receive them under local law.
  • Min Deposit
    $1000
  • Tradable Instruments
    506
  • Fees
    Medium

Swissquote was established in 1996 and is regulated by the Swiss Financial Market Supervisory Authority (FINMA). It is a leading Swiss bank that provides a range of trading, investing, robo-advisory, and banking solutions.

After creating a live account, I found that, besides MetaTrader 4 and MetaTrader 5, Swissquote offers an excellent proprietary forex trading platform called Advanced Trader. It provides 50+ charting tools and 80+ technical indicators with charts powered by the popular TradingView platform.

Advanced Trader gives access to a wide range of tailorable solutions such as customizing your layout by using its drag-and-drop feature. One aspect I particularly liked was the ability to link multiple charts together, allowing for the simultaneous viewing of the same instrument across different timeframes on a single screen. This feature is not available in MetaTrader.

Among third-party tools that I found useful is AutoChartist which provides automated technical analysis ideas. While some brokers provide this feature as a plugin to MT4, Swissquote allows you to access it directly through a web page, enabling you to trade on their web-based Advanced Trader platform as well.

During our live fee test, I found the spread for EUR/USD during the London and New York session averaged 2.05 pips which is much higher than the industry average of 1.0 pips for a commission-free trading account.

Pros
  • Advanced Trader charts powered by TradingView.
  • Professional platform with great supporting tools.
  • Robo-advisory, crypto-asset, and credit solutions.
  • Access to a Swiss IBAN and eBanking portal.
Cons
  • Customer support hours are limited.

Best for Beginners

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd. You should consider whether you understand how CFDs, or any other of our products work, and whether you can afford to take the high risk of losing your money.
  • Min Deposit
    $100
  • Tradable Instruments
    747
  • Fees
    Low

The UK-based forex and CFD broker Tickmill was founded in 2014 and is regulated by multiple financial institutions, including the FCA, CySEC, and the Seychelles FSA and provides extensive education and research materials for beginner traders.

The broker offers over 640 CFDs in forex, indices, commodities, and bonds. These can be traded from multiple platforms, including MT4, MT5, CQG, Agena Trader, and the custom Tickmill mobile app, which beginners will find the easiest way to trade.

During our live fee test, I found the spread on EUR/USD averaged 1.6 pips during the London and New York session which is higher than the industry average of 1.0 pips. However, since this is a commission-free trading account, it is an ideal choice for beginners to begin their trading journey. With most fees included in the spread, you can focus on analyzing the market without worrying about additional charges.

I was particularly impressed by Tickmill’s educational resources. This includes access to the Tickmill Education Hub which has articles, video tutorials, eBooks, courses, and multiple live webinars a week covering a wide range of trading topics to help improve your knowledge and trading performance.

Pros
  • Extensive educational materials.
  • Commission-free trading account.
  • Access to multiple trading platforms.
  • No fees for deposits or withdrawals.
Cons
  • Less competitive fees on Classic account.

Best for Tradable Instruments

4.6
72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
  • Min Deposit
    $250
  • Tradable Instruments
    17252
  • Fees
    Medium

Established in 1974 and listed on the London Stock Exchange, IG is governed by top-tier regulators including the FCA, ASIC, BaFin, and MAS, ensuring a high trust factor for traders. IG presents a vast array of over 17,000 tradable instruments across various markets such as forex, stocks, indices, commodities, cryptocurrencies, bonds, ETFs, and newly launched IPOs, catering to traders of all levels with its spread betting, CFD, and options offerings.

For those aiming to diversify their portfolio globally, IG stands out with its extensive product range. Its offerings encompass more than 16,000 stocks from numerous countries, over 100 forex pairs, 69 indices, 38 commodities, 11 cryptocurrencies, 19 bonds, and opportunities in new IPOs.

IG’s platform suite is robust, featuring the bespoke IG Web Trader, MT4, ProRealTime, and L2 Dealer for professional traders seeking Direct Market Access (DMA) for real-time pricing and execution from interbank markets and exchanges—tools akin to those utilized by IG’s own risk management team.

Having traded with IG for many years, I found the IG Web Trader platform easy to use but feature-rich with fully customizable layouts. There are 100+ drawing tools and technical indicators with simple, clean, and responsive charting. Traders can also access trading signals from Autochartist and PIA-First directly from the platform.

During our live fee test, I found the spread for EUR/USD during the London and New York trading sessions averaged 0.75 pips. This is better than the industry average of 1.0 pips for a commission-free trading account.

Pros
  • Extensive range of tradable instruments
  • Variety of trading platforms
  • Competitive trading fees
  • Free trading signals
Cons
  • Wealth of markets may overwhelm some traders

Best Low Spreads

Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
  • Min Deposit
    $200
  • Tradable Instruments
    2245
  • Fees
    Low

IC Markets is a forex and CFD broker that was founded in 2007 in Sydney, Australia. The broker is regulated by financial institutions such as ASIC, CySEC, and the Seychelles FSA, among others.

You can trade with a wide range of asset classes including forex, indices, commodities, cryptocurrencies, and stocks. In total, there are 1,700+ financial CFD instruments available to trade on from three different trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader.

During our live test, I found that the IC Markets cTrader platform offered the best fees and also had an easy-to-use interface with over 70 different technical indicators, live market analysis, and multiple advanced order types. With the IC Markets cTrader platform, you can access spreads from 0.0 pips and pay a commission of $3.00 per lot, per side which is much better than the industry average of $3.50 per lot, per side.

I enjoyed the fact the broker provides access to AutoChartist for MetaTrader. This third-party plugin offers automated global market analysis including price forecasts, volatility warnings, and real-time alerts. From my personal experience, AutoChartis can help to save a lot of time identifying technical analysis events in the market and could be a good addition to your trading.

In my live fee test, I found the spread on IC Markets from the MT4 platform to average 0.6 pips during the London and New York session which is much better than the industry average of 1.0 pips on a commission-free trading account. It makes IC Markets a top choice to consider.

Pros
  • Competitive fees, low spreads.
  • Over 1,700 CFDs.
  • Variety of trading platforms.
  • AutoChartist for trading optimization.
Cons
  • Most tools are geared toward advanced traders.

Best for Professional Traders

Contracts for Difference (CFDs) are leveraged over-the-counter derivative products and carry a high level of risk to your capital. You should only risk capital that you can afford to lose. In certain circumstances, due to fluctuations in market value you may not get back your initial investment amount. You may not only lose your initial investment but you may incur a liability to pay a further amount to cover losses. This means you can lose more money than you have invested.
  • Min Deposit
    $100
  • Tradable Instruments
    8977
  • Fees
    Low

FP Markets is an Australian forex broker founded in 2005 and is regulated by ASIC, CySEC, and the FSCA with one unregulated entity based in St.Vincent and the Grenadines (SVG). It provides the ability to trade on currencies, commodities, indices, ETFs, stocks, futures, and cryptos.

After comparing FP Markets’ platforms with competitors, I found that the broker provides an excellent offering for professional traders. With FP Markets, you can trade hundreds of CFDs from the MT4, MT5, and cTrader platforms, as well as access DMA (direct market access) for global shares from the IRESS trading platform.

I enjoy using the MetaTrader 5 trading platform as it offers one-click trading, 38 technical indicators, 24 drawing tools, 21 timeframes, and a range of different chart types. You can also access customized trading indicators and algorithmic trading expert advisors.

On top of this, professional traders can access the MT4 with a multi-account manager (MAM) account to trade investors’ capital through sub-accounts. This is a great piece of technology to seamlessly manage the funds of your clients. Another solution, is the FP Markets copy trading and social trading products that allow you to replicate the trades of experienced traders or to provide your trades to be copied.

Like myself, professional traders may also enjoy access to third-party tools offered by FP Markets which include AutoChartist, Trading Central, and an MT4/MT5 upgrade of additional indicators. I particularly like the mini-terminal indicator as it helps to execute trades and perform risk management calculations all from the chart in just a few clicks and is worthwhile testing.

During our live fees test, I found the spread for EUR/USD during the London and New York trading session averaged 1.1 pips which is around the industry average of 1.0 pips for a commission-free trading account.

Pros
  • Great variety of trading platforms.
  • MAM, PAMM, and social trading solutions.
  • AutoChartist, Trading Central tools.
  • Extra MT4 indicators and VPS.
Cons
  • A license to use MAM/PAMM account is required.

Best for Cryptocurrency Trading

Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved.
  • Min Deposit
    $0
  • Tradable Instruments
    321
  • Fees
    Medium

IronFX was founded in 2010 and is regulated by the FCA, CySEC, and FSCA with one unregulated entity based in Bermuda. On top of 32 cryptocurrency pairs, you can also trade 84 forex pairs, 7 currency futures, 31 commodities, 149 stocks, and 33 indices.

After opening a live account, I found that you can access cryptocurrency pairs such as BTC/USD, ETH/USD, DOGE/JPY, and ETH/GBP. There is a wide range of major coins and altcoins that can be traded against different fiat currencies such as the USD, JPY, and GBP.

I also found that you can trade from a variety of trading platforms with IronFX which include MT4 and the IronFX web trader and mobile trading app. The MT4 platform does have a learning curve but provides the most amount of features such as customized indicators and algorithmic trading capabilities.

For beginner traders, the IronFX platform will be the easiest to get started with and the fastest to trade from. You can trade cryptocurrencies from all of the trading platforms but the desktop version provides the most robust experience for traders.

The broker also offers the IronFX AutoTrade platform for copy trading. It is a mobile trading app in which you choose and copy the best-performing traders. You can also access the IronFX copy trading feature from the IronFX TradeCopier web platform where you can either copy other traders or become a strategy provider.

During our live fee test, I found the spread for EUR/USD during the London and New York session averaged 1.0 pips which is the industry average of 1.0 pips for a commission-free trading account.

Pros
  • 32 cryptocurrencies.
  • Major and alt-coins against a variety of fiat currencies
  • User-friendly proprietary platform.
  • IronFX TradeCopier platform for copy trading.
Cons
  • Lack of third-party tools, platforms, and integrations.

Best Overall in the US

Forex trading involves risk. Losses can exceed deposits.
  • Min Deposit
    $250
  • Tradable Instruments
    82
  • Fees
    Low

tastyfx is a new brand name of IG US and a part of IG Group which is listed on the London Stock Exchange (LSE: IGG) and is a member of the FTSE 250. tastyfx aims to offer a more aligned experience for their US-based providing Americans access to the global forex market with leverage and tight spreads.

Clients can trade an industry-leading range of forex instruments, including major, minor, Australasian, Scandinavian, exotic, and emerging market currency pairs.

My hands-on tests showed that tastyfx offers highly competitive trading-related fees. Spreads in major pairs are among the tightest in the industry; for example, I experienced average spreads of just 0.8 pips in USD/JPY and 1 pip in GBP/USD. My assessment also indicated that swap fees are better than average. High-volume traders designated as Premium clients can earn substantial cash rebates, further lowering costs.

tastyfx offers an award-winning proprietary platform, which I rate as among the best in the industry. The platform is highly customizable, allowing you to tile charts, watchlist, and news to stay on top of multiple markets and data points at a glance. Features like 1-click trading and trading from the chart enabled me to be nimble in volatile markets and enter orders fast. In my experience, trader sentiment gives you powerful insight into the psychology of a market, so I found this built-in tool especially helpful.

Live account holders can also access MetaTrader 4 and ProRealTime platforms, which offer advanced capabilities like automated trading. With its low costs and cutting-edge technology, I rate tastyfx as a strong choice for US traders looking to try out the forex market.

Pros
  • Tight spreads
  • High trust rating
  • Industry-leading research
  • Premium services
Cons
  • No chat support

Best Trading Platform in the US

Trading with leverage comes with a high risk and may not be suitable for everyone.
  • Min Deposit
    $100
  • Tradable Instruments
    52
  • Fees
    Low

Plus500 has recently expanded into the United States to offer futures trading via its state-of-the-art proprietary web platform and mobile app. Since launching in 2008, Plus500 is now available in over 50 countries and has 400,000 active clients. US clients can access futures contracts on forex, indices, commodities, bonds, and cryptocurrencies.

Plus500 has invested heavily in its proprietary WebTrader platform, which takes ease of use to a new level. WebTrader has a range of popular features, including watchlists, trading from the chart, and access to live chat support from within the platform. I especially liked the ease with which you can flip between demo and live trading. The ability to easily enter three orders at once (your initial, order, profit target and stop loss) is another great feature. Futures trading becomes simple and straightforward with this ultra-intuitive platform.

To freely day trade stocks in the US requires an account balance of at least $25,000, but this is not the case with futures. Plus500 US lowers the barrier of entry to active trading with a $100 minimum deposit, competitive commissions, and low intraday margin requirements for a diverse range of futures contracts.

Pros
  • Cutting-edge WebTrader platform
  • Feature-rich mobile app
  • Competitive commissions
  • Standard, Mini, and Micro contracts
Cons
  • No phone support

How to choose a forex trading platform?

Access to a good forex trading platform is essential when trading the global forex market. In the next sections, I will discuss key questions that are useful when determining which forex trading platform to choose. We will also highlight some of the popular options.

Our team of experts analyzed what makes a great forex trading platform, and I am sharing the key factors they discovered to be the most crucial.

How to find a safe broker?

It is essential to choose a forex trading platform from a regulated broker because it adds an important layer of security and protection for traders. Choosing a regulated broker ensures that you trade with a trustworthy and reputable company that will protect your interests.

However, not all regulators are equal. Tier 1 regulators offer the highest level of protection and include the UK FCA, ASIC, and CySEC. Tier 2 regulators offer good protection but are from smaller financial jurisdictions such as the FMA of New Zealand and FSCA of South Africa. Tier 3 regulators are generally based offshore and offer the lowest level of protection, while there are some unregulated brokers you should stay clear of.

If in doubt, I find visiting the regulator’s online register is a good option. You can check your broker’s regulations there to gain peace of mind.

Read more about Best regulated forex brokers.

What fees should you be aware of when choosing the best forex trading platform?

There are multiple fees forex brokers charge their users. Some of the main trading fees to be aware of include commission, spreads, and swaps.

  • Commissions are charged for opening and closing a trade.
  • The spread is the difference between the price you buy and the price you sell it.
  • Swaps are fees for holding leveraged positions overnight and are usually made up of a combination of interest rates and extra broker fees.

When selecting a forex trading platform, be aware of the fees involved, including those named above, and any other charges. Ideally, the fees you pay should be as low as possible. Take time to research and compare different brokers to ensure you are getting the best deal.

Make sure you check the following when it comes to fees:

  • Commissions
  • Spreads
  • Swaps
  • Account fees
  • Inactivity fees
  • Deposit and withdrawal fees

Most brokers will charge different fees depending on the account type you are using. Some accounts may offer commission-free trading with higher spreads or commission-based trading with lower spreads.

You can trade using a broker’s forex demo account which will allow you to test the different fees and accounts available.

Read more about Best lowest spread forex brokers.

What is the best type of forex account to use with a trading platform?

Forex brokers will generally offer different types of accounts. Which one is best for you, will depend on your needs as an individual. In my experience, you should consider the following factors when choosing an account type:

  • Deposit and withdrawal options
  • Leverage options
  • Execution model – STP, ECN, or DMA
  • Trading and non-trading fees
  • The available platforms and tools
  • Minimum deposit

Usually, brokers will offer different types of accounts depending on the volume that you are going to trade. For traders with a higher account balance, brokers will offer professional accounts with lower spreads and commissions, and extra trading tools and services.

In my personal experience, a demo trading account is a great place to get started. This type of account allows you to trade in a virtual environment so you can test out the features and services from the broker risk-free.

Read more about Best forex demo accounts and Best ECN forex brokers.

How to choose a suitable leverage?

Leverage trading has grown massively over the past couple of years, and can be a powerful tool when it comes to forex trading. Leveraged trading makes it possible to trade bigger positions with only a small amount of funds and has the effect of amplifying both wins and losses.

The amount of leverage that forex trading brokers offer varies. It depends on where the broker is regulated and the account type that is being used. CySEC, FCA, and ASIC-regulated brokers (Tier 1 regulators) require new clients to fill in an application form with details that are used to determine whether a trader classifies as ‘retail’ or ‘professional’.

Retail trading accounts are limited when using leverage. The maximum leverage on forex is usually 30:1. Tier 1 regulators also require brokers to provide a negative balance protection policy for retail clients so your account does not go below zero from any adverse movements in the market.

Professional trading accounts have higher leverage options, sometimes up to 200:1. Legally, there is no regulatory requirement to provide a negative balance protection policy but some brokers will still offer it which is a good sign of a broker looking after their clients’ safety.

Unregulated brokers and some offshore brokers may offer very high amounts of leverage as they are not regulated by a well-known financial body. You should be careful trading with such brokers and check the terms and conditions carefully as it is likely you will offer a much lower level of protection.

Explore Best forex brokers with high leverage.

There are a variety of trading platforms available to forex traders. Here are a few that you may want to consider for gaining great trading results.

MetaTrader 4 and MetaTrader 5

MetaTrader 4 and MetaTrader 5 are two of the most popular and widely used forex trading platforms, offering a good range of features and tools, such as:

  • Advanced charting tools
  • Automated trading through expert advisors
  • Create custom indicators and expert advisors
  • One-click trading and portfolio management

Read more about Best MetaTrader 4 brokers and Best MetaTrader 5 brokers.

MT4 and MT5 Pros and Cons

Pros Cons
  • Widely used in the industry
  • Available with most forex brokers
  • Customizable to traders’ needs
  • Fits both beginners and experts
  • The interface feels slightly outdated
  • Some tools might be intimidating for beginners
  • Requires a bit of a learning curve

TradingView

TradingView is another growing and popular charting platform. TradingView makes it possible to track almost all markets, and describes itself as a “supercharged super-charting platform and social network for traders and investors.” TradingView has over 50 million users.

TradingView Tools:

  • Large range of indicators, strategies, and libraries
  • Forex screener and heatmaps
  • Real-time updates and news flow
  • Economic and earning calendars
  • Multiple social tools and features

Read more about Best TradingView forex brokers.

TradingView Pros and Cons:

Pros Cons
  • Both desktop and mobile applications
  • Has the most advanced charting tools and technical indicators
  • Ability to share your trade ideas and setups with the social community
  • Ability to set personal alerts and notifications
  • Backtesting is limited
  • Not built for automated trading

cTrader

Developed by Spotware Systems, cTrader is a strong platform for high-frequency day traders of the forex market. It specializes in providing an algorithmic, social trading community for the forex market.

cTrader Tools:

  • Premium charting tools and technical indicators
  • Customizable charts and interface
  • Market depth feature
  • Automated trading
  • Copy trading

Read more about Best cTrader forex brokers.

cTrader Pros and Cons:

Pros Cons
  • Available with lots of forex brokers
  • Useful for both experts and beginners
  • Different types of trading and order management
  • Powerful tools to optimize your trading processes
  • Requires a learning curve for beginners
  • Uses a different programming language than most platforms

ZuluTrade

ZuluTrade is a social forex trading platform that allows you to easily follow and copy other traders. As Zulutrade has a more social approach, tools for charting and technical analysis are limited.

ZuluTrade Tools:

  • Blog with market news, knowledge, and info on features
  • Easy investing through copy trading top performers
  • Variety of instruments and advanced tools for manual trading
  • Social forex trading platform that is customer-oriented
  • ZuluGuard to protect your forex trading account

ZuluTrade Pros and Cons:

Pros Cons
  • Transparency about performance data
  • Learn while copying the best-performing traders
  • Advanced risk management tools
  • Limited tools and customization
  • Less suitable for experienced traders
  • Less technical approach, but perfect for social trading

Ninjatrader

NinjaTrader is an award-winning platform for both futures and forex trading and offers you multi-device trading for low costs. It has a community of over 800,000 traders. It offers great features but can be difficult to master if you are just starting.

Ninjatrader Tools:

  • Advanced charting and technical analysis
  • Offers order management and backtesting
  • Use NinjaScript for automated trading
  • Customizable interface, indicators, and charts

Read more about Best NinjaTrader forex brokers.

Ninjatrader Pros and Cons:

Pros Cons
  • Advanced charting and order management
  • Automated trading and backtesting
  • No deposit minimum
  • Low margins and commissions
  • Free unlimited simulated trading
  • Steep learning curve
  • Limited availability with top forex brokers

The most popular third-party tools right now are AutoChartist, Trading Central, and customized MetaTrader 4 and MetaTrader 5 broker plugins. Each of them has its own unique set of features and can enhance your forex trading experience.

AutoChartist Features:

  • Automated technical analysis of trading opportunities
  • Chart data and market movements in real-time
  • Personalized alerts and notifications when opportunities arise
  • Market reports and analyses tailored to your interests

Read more about Best Autochartist forex brokers.

Trading Central Features:

  • Daily newsletters and economic calendar
  • Technical analysis of the financial markets
  • Trading signals and market research
  • Expert insights and commentary on trends

What to look for when choosing a forex trading platform?

If you want to start using a forex trading platform:

  • Search for features such as regulation and security measures
  • Explore how easy it is to use the platform
  • Check what types of trading and order management techniques are offered
  • Consider your individual needs and trading style.

It is crucial to consider the level of support you would like to receive when selecting a forex trading platform. Certain platforms provide personalized reports, market insights, trading signals, educational resources, and expert opinions on financial market trends. This additional information and analysis can be valuable for novice traders looking to gain knowledge about the industry. However, experienced traders may prefer a more streamlined approach with less extraneous information.

As a manual trader, I prefer web-based platforms. They provide me with convenient access from anywhere in the world, regardless of the device I use. While desktop platforms may offer additional features like algorithmic trading, they are saved locally on your computer, and there can be compatibility issues, such as needing to download Windows software to run the platform on a Mac.

Check out our list of Best Mac trading forex brokers.

What to avoid when choosing a forex trading platform?

Avoid unregulated brokers, promises of high and easy returns, and brokers that pressure you into making quick decisions. These are all red flags when it comes to choosing a forex trading platform and can indicate a potential scam.

Instead, research and verify how brokers are regulated and which measures are taken to protect customers’ needs and interests before committing financially.

How to avoid forex and CFD scams?

Avoid forex and CFD scams by following this basic checklist:

  • Stick with reputable, well-regulated brokers. Always check the broker’s regulation status before opening an account.
  • Read the terms and conditions carefully when registering a new account.
  • Watch out when brokers promise unrealistically high returns.
  • Test the broker’s services using a demo account.

Due diligence will help you to avoid bad forex brokers and CFD scams. Personally, I prefer to stick with Tier-1-regulated brokers because they are governed by regulatory bodies like the FCA and CySEC. These regulators provide retail traders with the assurance of a compensation scheme, which protects your capital up to a certain amount in the event of a broker default.

Our Methodology

FXEmpire has been a pioneer in providing reviews of brokers in the financial industry. Over time, we have continuously improved and updated our evaluation methodology to keep up with changes in a rapidly evolving industry.

Our methods allow us to offer readers greater confidence in selecting the right broker. To gather information, we have opened live trading accounts and tested the user experience of each forex trading broker.

All of our broker reviews use more than 250 data points across nine core categories which include:

  • Trust
  • Fees
  • Platforms and tools
  • Tradable instruments
  • Customer service
  • Deposit and withdrawals
  • Account types
  • Research
  • Education

For this guide, I conducted a detailed analysis of their trading platforms, focusing on user experience, order types, charting tools, and watchlists, with an emphasis on ease of use for all skill levels. Strong regulatory compliance was a key factor in ensuring reliability and trust in handling investments. I also assessed trading costs, including spreads and fees, and examined customer service responsiveness and quality. Additionally, I explored the range of educational and research tools offered, as well as the variety of account types suitable for both beginners and professionals.

We abide by our strict guidelines for editorial integrity based on the objective standards we have set for our reviews. You can read more about our review process here.

Meet Our Writers

The team of forex and CFD analysts and editors at FXEmpire is composed of trading industry professionals and seasoned financial journalists. Our experts have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.

Get to Know Our Authors

Dan BlystoneBroker Analyst

Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.

Jitan SolankiBroker Analyst

Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.

Plamen StoyanovBroker Analyst

Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

Vladimir ZernovBroker Analyst

In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.

MetaTrader is a popular electronic trading platform widely used by traders in the financial markets, primarily for trading foreign exchange (forex) and contracts for difference (CFDs). There are two versions of MetaTrader – MetaTrader 4 and more advanced one MetaTrader 5. Both of them provide a range of tools and features that enable traders to analyze the market, execute trades, and manage their trading accounts.
MetaTrader is a trading platform developed by a third party that can be integrated and used by multiple brokers. A proprietary platform is developed by a single broker, and exclusively available for users of that broker.
Automated trading refers to the use of computer programs or algorithms to automatically execute trading orders in the financial markets. Instead of placing trades manually, traders can develop or utilize pre-programmed strategies that automatically analyze market conditions, generate trade signals, and execute trades without human intervention.
Algorithmic trading, also known as algo trading, refers to the use of computer algorithms or predefined instructions to execute trading orders in financial markets. It involves the use of mathematical models and statistical analysis to identify trading opportunities, determine trade parameters, and automatically generate and execute trading signals.
A copy trading platform allows traders to replicate or copy the trades of other traders in real time. It enables less experienced traders to follow and automatically execute the trades of more experienced and successful traders, often referred to as "signal providers" or "leaders."
A social trading platform is an online platform that combines elements of social networking with trading and investing. It enables traders and investors to interact, share information, and replicate trades in a community-driven environment. Social trading platforms aim to facilitate collaboration, knowledge sharing, and the ability to follow and replicate the trades of successful traders.
The legality of forex trading depends on the specific country or jurisdiction in which you reside. In many countries, forex trading is legal and regulated, subject to certain rules and regulations imposed by government authorities or financial regulatory bodies. Before starting to trade, it is crucial to research and understand the specific laws and regulations related to forex trading in your country or jurisdiction.
To verify if a forex broker is regulated, you can follow these steps: Identify the regulatory authority overseeing forex brokers in the broker's country. Check the broker's website for clear information about their regulatory status, including the name of the regulatory authority and license or registration number. Visit the official website of the regulator to verify the broker's regulatory status and search for any additional information or warnings about the broker. Contact the regulatory authority directly for further confirmation if needed.
The tax implications of trading vary depending on your country or jurisdiction's tax laws. In many countries, profits made from trading, including forex trading, are subject to taxation. It is important to consult with a tax professional or local tax authority to understand the specific tax obligations that apply to your trading activities.
Brokers regulated by top-tier regulators, such as the FCA or ASIC, generally provide higher levels of investor protection compared to brokers regulated offshore. Top-tier regulators enforce stricter standards, have investor compensation schemes, and require transparency in disclosures. They offer established dispute-resolution mechanisms and exercise strong oversight. In contrast, offshore-regulated brokers may have less stringent regulations, limited or no compensation schemes, weaker dispute resolution processes, and potentially lower levels of regulatory oversight.
We assessed Tickmill as a good choice for beginners due to its intuitive proprietary mobile app, good range of educational and research materials, and plenty of copy and social trading options.
From our research, FP markets suits the best for experienced traders thanks to its decent selection of platforms, MAM and PAMM accounts, and useful third-party tools such as Trading Central and AutoChartist.
There are multiple forex trading platforms and brokers that allow crypto trading. If a forex trading platform provides access to cryptocurrencies, it typically involves trading cryptocurrency-based financial derivatives, such as Contracts for Difference (CFDs) or cryptocurrency pairs against fiat currencies (e.g., BTC/USD or ETH/EUR). These derivative products allow traders to speculate on the price movements of cryptocurrencies without owning the underlying assets.
No, you typically cannot trade forex without a broker. Forex trading involves participating in the global currency market, which requires access to liquidity providers and interbank networks. Brokers act as intermediaries between traders and the forex market, providing the necessary platform, tools, and access to execute trades.
A negative balance protection policy is a feature offered by forex brokers to protect traders and ensure that they do not lose more than their account balance. It is a regulatory requirement for FCA and CySEC-regulated brokers.
Negative balance protection is a feature offered by some brokers that protect traders from incurring a negative account balance. In forex trading, it is possible to lose more money than you have in your account due to leverage, which magnifies gains and losses. With negative balance protection, the broker guarantees that the trader's account balance will never go below zero, even in the event of a sudden and significant market move that results in a large loss. If the trader's account balance falls to zero, the broker will close out their positions and absorb the loss, rather than requiring the trader to cover the negative balance.
To verify whether your broker has negative balance protection, you can review the terms and conditions of your account agreement, which should outline the broker's policy on negative balance protection. This information is usually available on the broker's website or can be obtained by contacting their customer support team.
A compensation scheme is a type of investor protection program that provides financial compensation to investors who have suffered losses as a result of a broker's insolvency, fraud, or other misconduct. Compensation schemes are designed to protect investors from financial harm and to promote confidence in the financial markets. In most countries, compensation schemes are established and regulated by the government or financial regulatory agencies. These schemes typically have specific eligibility requirements, such as a maximum level of compensation per investor or per claim, and may only cover certain types of financial instruments or transactions.
To verify whether your broker is a member of a compensation scheme, you can check their regulatory status and the terms and conditions of your account agreement. Compensation schemes are typically established and regulated by government or financial regulatory agencies, and brokers are required to be registered with these schemes to offer protection to their clients. You can also check the website of the compensation scheme in your country or region to see if your broker is listed as a member.
A segregated fund, also known as a segregated account, is an account that holds clients’ funds of a broker. This ensures that client funds are “segregated” and kept apart from the broker’s funds so client capital is not used as a funding method for the broker’s operations.
To verify if a broker offers segregated funds, you can check their website, contact them directly, review their regulatory filings, look for independent reviews, or consult with a financial advisor. The broker's website should have information about their investment products, including segregated funds.

About the Author

Jitan SolankiBroker Analyst

Jitan Solanki is a professional trader, market analyst, and educator. He day trades major currency and index markets and focuses on swing trading US equities and commodities. A qualified Market Technician, Jitan also works with trader education and brokerage companies on various projects. These include market analysis, live trading events, and broker reviews. As an experienced trader and educator, Jitan brings all his qualities in action when reviewing and recommending brokers.

Why you can trust FX Empire

At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.

Why you can trust FX Empire

FXEmpire was founded in 2011, making us one of the first forex broker review sites. You can trust FXEmpire because of our thorough and unbiased review process. With over a decade of experience, we have a team of industry experts who conduct rigorous tests to ensure our reviews are accurate and unbiased. Our reviews are designed to bring clarity and confidence to the process of choosing a broker, and are based on objective criteria and measurable data. Our editorial team is composed of trading industry professionals and seasoned financial journalists, who ensure that our reviews are accurate and unbiased. Additionally, our review system is based on 9 core categories and over 250 distinct variables, which ensures that all aspects of a broker are considered before giving a final rating. So, you can trust FXEmpire to provide you with honest and informative reviews that will help you make an informed decision on which broker will best enable you to reach your financial goals.