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14 Best Forex Trading Platforms for 2025
Looking for the top forex trading platform? After testing 80 brokers this year, our experts have identified the 13 best options tailored to diverse trading needs. complete with practical tips.
By:
Reviewed By:
Updated: Apr 20, 2025
List of Top Forex Trading Platforms
Best Platforms 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 Platforms 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.
Powerful, easy-to-use app. Leverage up to 1:300. 700+ assets. 0% commissions. Smart Market Radar spots real-time opportunities.
*72% 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?
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:
- Platform Testing: We evaluated order types, charting tools, watchlists, and user experience, ensuring ease of use for all skill levels.
- Regulatory Compliance: We prioritized brokers regulated by top-tier authorities to ensure trust and security.
- Trading Costs: We analyzed spreads, swaps, inactivity fees, and withdrawal fees, selecting brokers with competitive pricing.
- Customer Support: We rigorously tested phone, chat, and email support for responsiveness and service quality.
- Educational & Research Resources: We asessed articles, webinars, courses, and third-party tools to gauge the value of broker-provided learning materials.
- Account Types & Suitability: We identified brokers offering a variety of account types, catering to both beginners and professionals.
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
4.6
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.
- $0Min Deposit
- 240Tradable Instruments
- MediumFees
Why We Picked It
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 and Cons
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
4.6
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.
- $50Min Deposit
- 1039Tradable Instruments
- LowFees
Why We Picked It
Vantage is an Australian broker founded in 2009. It is authorized and regulated by ASIC and the CIMA and offers trading 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 and Cons
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
4.3
80.26% of retails CFD accounts lose money.
- $100Min Deposit
- 156Tradable Instruments
- MediumFees
Why We Picked It
TMGM is regulated by ASIC, FMA New Zealand, FSC Mauritius, and the VFSC. It offers over 12,000 tradable instruments, including forex, CFDs, stocks, commodities, bonds, and cryptocurrencies from MetaTrader 4 and 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.
Stock traders have access to IRESS – an advanced 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 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 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 and Cons
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
4.6
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)
- $100Min Deposit
- 1995Tradable Instruments
- HighFees
Why We Picked It
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 and Cons
Pros
- 2,100+ tradable instruments
- Decent selection of trading platforms
- Top-notch research
- Fast order execution
Cons
- Inactivity fee
Best MT4
4.4
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% 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.
- $0Min Deposit
- 1253Tradable Instruments
- MediumFees
Why We Picked It
ActivTrades is a London-based broker that offers over 1,100 financial instruments, including forex, indices, stocks, and commodities, on 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 and Cons
Pros
- Brand new, upgraded MT4 web platform
- Competitive trading fees.
- Enhanced fund protection.
Cons
- Monthly inactivity fee.
Best Proprietary Software
4.2
Trading involves risks. Products and services of Swissquote are only intended for those permitted to receive them under local law.
- $1000Min Deposit
- 642Tradable Instruments
- HighFees
Why We Picked It
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 and Cons
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
4.4
Trading Contracts for Difference (CFDs) on margin carries a high level of risk and may not be suitable for all investors. Before deciding to trade Contracts for Difference (CFDs), you should carefully consider your trading objectives, level of experience and risk appetite. It is possible for you to sustain losses that exceed your invested capital and therefore you should not deposit money that you cannot afford to lose. Please ensure you fully understand the risks and take appropriate care to manage your risk.
- $100Min Deposit
- 649Tradable Instruments
- MediumFees
Why We Picked It
Tickmill is a UK-based forex and CFD broker founded in 2014 and 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 and Cons
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
71% 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
- $50Min Deposit
- 17205Tradable Instruments
- MediumFees
Why We Picked It
IG was established in 1974 and listed on the London Stock Exchange. It 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 and Cons
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
4.5
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.
- $200Min Deposit
- 2245Tradable Instruments
- LowFees
Why We Picked It
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 and Cons
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
4.6
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.
- $100Min Deposit
- 10180Tradable Instruments
- LowFees
Why We Picked It
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 and Cons
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
4.3
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.
- $0Min Deposit
- 277Tradable Instruments
- HighFees
Why We Picked It
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 and Cons
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 High Leverage App
When trading, your capital is at risk. Consider the potential loss of funds before proceeding. Any references to past performance, historical returns, future projections, and statistical forecasts are no guarantee of future returns or future performance.
- $50Min Deposit
- 813Tradable Instruments
- -Fees
Best Overall in the US
4.4
Forex trading involves risk. Losses can exceed deposits.
- $100Min Deposit
- 82Tradable Instruments
- LowFees
Why We Picked It
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 and Cons
Pros
- Tight spreads
- High trust rating
- Industry-leading research
- Premium services
Cons
- No chat support
Best Trading Platform in the US
4.5
Trading with leverage comes with a high risk and may not be suitable for everyone.
- $100Min Deposit
- 52Tradable Instruments
- LowFees
Why We Picked It
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 and Cons
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?
Choosing a forex trading platform from a regulated broker is crucial because it adds an important layer of security and protection for traders. A regulated broker ensures that you trade with a trustworthy company that will protect your interests.
In our reviews, we categorize brokers into three tiers to assess their level of regulation:
- Tier 1 regulators provide the highest level of protection and include the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and others.
- Tier 2 regulators maintain high standards but offer slightly lower protection compared to Tier 1. Examples include the Financial Sector Conduct Authority (FSCA) of South Africa, the Dubai Financial Services Authority (DFSA), and others.
- Tier 3 regulators typically operate in offshore jurisdictions. Examples include the International Financial Services Commission (IFSC) of Belize, the Securities Commission of the Bahamas (SCB), and others.
Some brokers are not regulated and operate without oversight, posing significant risks to traders as they lack accountability or protection mechanisms. Given that scalping is a precision-focused trading strategy, it’s advisable to choose brokers regulated by Tier 1 authorities for maximum security.
If in doubt, visit the regulator’s online register and check if the broker is listed there. We also recommend checking out our list of Best regulated forex brokers.
What Fees Should You Consider?
Forex brokers charge their users multiple fees. Some of the main trading fees to be aware of include commission, spreads, and swaps.
Fees are generally divided into trading fees and non-trading fees. Trading fees include:
- Spreads: The difference between the buy and sell price. Brokers may offer institutional-grade spreads or mark them up as a fee. For scalpers, low spreads are critical. See our guide for the Best forex brokers with lowest spreads.
- Commission: A fee for opening and closing trades. Some brokers provide commission-free accounts with higher spreads, while others offer commission-based accounts with lower spreads.
- Swaps: A fee for holding leveraged positions overnight, typically tied to currency interest rates and broker markups. Scalpers generally avoid swap fees as they close positions quickly. Discover Best low swaps forex brokers.
Non-trading fees cover account management, such as inactivity fees or charges for deposits and withdrawals. While most brokers don’t charge account maintenance fees, withdrawal and deposit costs vary based on the payment method—bank transfers, cards, or e-wallets. These fees are worth checking to avoid surprises.
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. You can trade using a broker’s forex demo account, which allows you to test the different fees and accounts available.
Read more about Best forex demo accounts
How to Choose a Trading Account?
Most brokers offer various account types, such as standard, premium, or VIP accounts, with differences in commissions, spreads, and minimum deposits. Typically, accounts with higher minimum deposits provide the best terms, including lower fees, additional tools, and enhanced support.
In recent years, brokers have adapted to advanced trading styles like scalping and algorithmic trading by offering accounts based on specific execution models. These include:
- Dealing Desk (Market Maker) Accounts: In these accounts, the broker takes the opposite side of the trade. They usually feature fixed spreads rather than floating spreads.
- No Dealing Desk (NDD) Accounts: These accounts use technology to match orders with other traders almost instantly, bypassing broker involvement. Discover Best no dealing desk forex brokers.
- STP (Straight Through Processing) Accounts: A type of no-dealing desk account where client orders are routed directly to the broker’s liquidity provider. Discover Best STP forex accounts.
- ECN (Electronic Communications Network) Accounts: These accounts connect traders to a network of liquidity providers, enabling order matching with anonymous participants. Find Best ECN forex accounts.
- DMA (Direct Market Access) Accounts: Clients trade directly with interbank market participants, offering transparency and control.
Usually, brokers will offer different types of accounts depending on the volume you trade. For traders with a higher account balance, brokers will offer professional accounts with lower spreads and commissions, and extra trading tools and services.
Explore Best forex brokers for professionals.
How to Choose a Suitable Leverage?
Leverage trading has surged in popularity in recent years, becoming a powerful tool for forex traders. By allowing traders to control larger positions with a small deposit, leverage amplifies both potential gains and losses.
The amount of leverage offered by forex brokers varies based on their regulatory jurisdiction and account types. Brokers regulated by Tier 1 authorities such as CySEC, FCA, and ASIC require new clients to complete an application form to classify them as either retail or professional traders.
Find Best CySEC-regulated brokers and Best ASIC-regulated brokers.
- Retail Accounts:
Retail traders are limited to a maximum leverage of 30:1 for forex. Tier 1 regulators also mandate that brokers provide a negative balance protection policy to ensure client accounts don’t fall below zero during adverse market movements. - Professional Accounts:
Professional accounts offer higher leverage, sometimes up to 200:1. However, these accounts are not legally required to include negative balance protection, though some reputable brokers voluntarily provide this safeguard as a sign of client care. - Offshore and Unregulated Brokers:
Unregulated and offshore brokers often advertise very high leverage levels, such as 500:1 or more, as they are not bound by strict regulatory frameworks. While this may seem attractive, these brokers typically offer significantly lower levels of client protection. Always exercise caution, review the broker’s terms and conditions thoroughly, and ensure you understand the risks involved.
Explore Best forex brokers with high leverage.
Popular Retail Trading Platforms
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
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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:
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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.
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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:
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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:
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Essential Third-Party Tools
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
Explore our list of Best Trading Central 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:
- 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.
What is MetaTrader?
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.
What is the difference between MetaTrader and a proprietary platform?
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.
What is automated trading?
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.
What is algorithmic trading?
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.
What is a copy trading platform?
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."
What is a social trading platform?
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.
Is forex trading legal?
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.
How do I verify if a forex broker is regulated?
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.
Do I have to pay taxes when trading?
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.
What are the differences in protections between brokers regulated by top-tier regulators versus brokers regulated offshore?
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.
Which trading platform is good for beginners?
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.
Which trading platform is good for professional traders?
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.
Can I trade crypto on the forex trading platform?
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.
Can I trade forex without a broker?
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.
What is negative balance protection?
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.
What is negative balance protection in forex trading?
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.
How can I verify that my broker has negative balance protection?
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.
What is a compensation scheme in forex trading?
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.
How can I verify that my broker is a member of the compensation scheme?
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.
What is a segregated fund?
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.
How to verify if the broker offers a segregated fund?
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
Table of Contents
- List of Top Forex Trading Platforms
- How Did FXEmpire Select the Best Forex Trading Platforms?
- Best Overall
- Best for Copy Trading
- Best Account Offering
- Best Research Tools
- Best MT4
- Best Proprietary Software
- Best for Beginners
- Best for Tradable Instruments
- Best Low Spreads
- Best for Professional Traders
- Best for Cryptocurrency Trading
- Best High Leverage App
- Best Overall in the US
- Best Trading Platform in the US
- How to Choose a Forex Trading Platform?
- Our Methodology
- Meet Our Writers
- FAQ