Most notably, MT5 is built for assets that require trading through exchanges. This means MT5 is a better option if you wish to trade stocks and stock CFDs. While MetaTrader 5 is an improved platform compared to MetaTrader 4 and despite being around since , MetaTrader 4 continues to be more popular among forex brokers, including Ox Securities.

In MetaQuotes announced development will cease for MT4 and new MT4 licenses will not be made available to brokers. This announcement should see more brokers take up MT5 in future and this should accelerate the growth of the platform.

Below shows the details of a Forex Magnates MetaQuotes study which shows MT5 is beginning to gain traction in the market. MetaTrader 5 offers 38 technical indicators, 44 graphical tools and 21 timeframes to help you with your analysis. Perhaps the biggest benefits of MetaTrader 5 are:. Features of MT5 include a broader range of timeframes, several pending order types, netting and hedging mode options, depth of market function, and partial order filling policies.

A major change to the MetaTrader 5 platform is the programming language, known as MQL5. While MQL5 is a superior language than MQL4, it has the following cons:.

MetaTrader 5 community and marketplace is much smaller than with MetaTrader 4. This means there are fewer candidates for social trading and less choice of products from the MT5 marketplace.

IC Markets is an excellent choice of broker for MetaTrader 5. The brokers offer the following notable features. IC Markets is known for the low spreads it offers for the major currency pairs. The broker outperforms many other forex and CFD providers in this area based on ECN-style account types. ECN spreads mean prices are set by liquidity providers competing against each other, which ensures they offer the best possible prices. Commissions with IC Markets are also relatively competitive. IC Markets brokerage fees are the best for all brokers the Compare Forex Brokers team has reviewed.

Data collected in revealed an average trade execution speed of This can be considered blazing fast by any measure. IC Markets is able to achieve this by placing their server at the Equinix NY4 data center where over over financial providers are also located. Traders wanting even fast execution can sign with a VPS provider which can reduce speeds to 1ms latency. Forex, indices, commodities, bonds, futures, and crypto like Bitcoin are all available through IC Markets, making them the broker offering one of the most CFDs to be traded on the MT5 trading platform.

As a key feature of MT5, traders can access share CFDs through IC Markets on the ASX, NYSE, and NASDAQ. As an innovative social trading platform, ZuluTrade is quickly becoming a widely popular feature for copy traders. IC Markets offer ZuluTrade along with their suite of other tools including ZuluRank to analyze traders on performance and reliability , ZuluGuard to protect accounts running out of capital , and a simulation tool which allows traders to learn and test the process of copy trading.

This mirroring service integrated with the IC Markets MetaTrader 4 account, making copy trading very straightforward. The platform also has measures in place to ensure traders that can be followed trade with the intention of being successful and not for commission profits. cTrader is the 3rd most popular available trading software for free.

Developed by Spotware, the platform is available on desktop, Web Trader and mobile devices. cTrader is especially popular with scalpers due to its fast processing speed. While cTrader market share data is not available, the table below shows the popularity of the 3 leading trading platforms based on their respective community websites and app downloads.

cTrader is known for its large number of indicators, timeframes, and exceptionally fast execution speed. The main advantages of cTrader include:.

In addition to these features, cTrader has its own version of Expert Advisors called cTrader Automate formerly cAlgo. Coders will appreciate the use of C which is a language well understood by programmers. Traders needing further help have access to resources such as cTDN forums and cTrader Developer Network. As mentioned, cTrader is a close competitor but remains the third most popular trading platform behind the MetaTrader platforms mentioned previously.

The smaller market share implies a smaller online community of traders. In terms of accessing liquidity and trade execution speeds, the Spotware server is located in the UK as opposed to MetaQuotes which is in the USA. This may not be an issue for some traders. FxPro never interferes with pricing through the trading process.

The broker uses liquidity from other traders taking the other side of the trade, where this cannot be achieved the broker uses STP to complete the trade. This system means FxPro can allow fast trade execution speeds of Quotes shown through FxPro are therefore extremely accurate to the price the order is filled to. When comparing trading platforms on FxPro, spreads can range from 1.

For cTrader, however, spreads are on average around 0. Trading costs are optimized by using cTrader through FxPro. FxPro is able to deliver orders each second and achieves superior speed compared to MetaTrader. FxPro is regulated under several key global markets, including the European Union FCA and CySEC , South Africa FSCA , Dubai United Arab Emirates , and the Bahamas, making the broker a suitable choice for traders worldwide depending on the entity that matches their location.

This also provides traders with more options regarding trading conditions, such as leverage and negative balance protection, which can help protect retail investor accounts. Over financial instruments including forex pairs, futures, spot indices, shares, metals, and energies are offered by FxPro on the cTrader platform.

The extensive range of trading instruments is another feature alongside training courses, news, analysis, and trading tools provided by FxPro that enhances the trading experience with cTrader. FxPro is the best-suited broker for cTrader due to its high-standard infrastructure with co-location servers , fast execution speeds, tight spreads, and a wide range of financial instruments.

A few noteworthy features of FxPro include:. eToro is a multi-asset trading platform that incorporates social and trading features. As a social trading platform, eToro stands out from competitors in the copy trading field for 3 reasons:. The eToro trading platform offers a large range of CFD trading tools. These include cryptocurrencies, stocks, forex, commodities and ETFs and are available with zero commission costs.

Traders can choose between a Windows download, WebTrader and iOS or Android app for mobiles. This allows you to spend more time doing other things while traders you copy do all the research and investing. Beginners to trading with minimal experience can benefit from this, as they can learn from and copy more experienced and successful traders. This feature works like an index where you can copy a portfolio compiled from some of the best traders in the eToro community. eToro regularly rebalances these portfolios to ensure you are receiving the best possible portfolio.

The eToro platform is user-friendly, however, it has some peculiarities that increase the learning curve. The eToro uses its own terminology, which can be confusing at first. Features one needs to learn to include how risk scores are calculated, performance since inception, and trade lot sizes. eToro also does not provide win-loss or profit-risk ratios under the performance analysis of traders. To master the eToro platform will require more investment in time than most other platforms.

Furthermore, eToro is a dedicated social trading platform, meaning less emphasis is placed on providing technical indicators and graphical tools are provided, which some traders might find limit their ability to make informed decisions.

eToro hosts the best social trading platform. The social element of eToro includes research features, news, posts and articles. The eToro platform is a hub for learning and gaining insight from traders around the world, which is invaluable for successful trading and education.

With millions of traders across the globe using eToro, the trading community is the best in its field. Traders can utilize the trading community by copying trades in real-time, reading live news feed and comments, and gaining an understanding of different strategies.

As of , eToro offers 47 currency pairs along with other tradable financial instruments, including Cryptocurrencies, ETFs, commodities, indices, and shares. eToro allows traders to access the widest variety of global share CFDs.

eToro is available through the web platform as well as the mobile forex trading app. With over 10 million clients worldwide, eToro is the benchmark for social trading and also allows traders to earn rewards for clients copying their trades on a range of financial markets. eToro is registered under CySEC, FCA and ASIC. eToro is only available for cryptocurrency trading in the USA as it is currently without a CFTC license and does not offer cryptocurrency trading as part of eToro UK for regulatory reasons.

Plus is a CFD provider offering its proprietary trading platform for traders to access an array of tradable financial instruments. Clients can trade and monitor a multitude of instruments with ease as a result of the innovative Plus trading platform design. The ease with which clients can trade multiple financial products is one of the main benefits of Plus With a split-screen display and informative real-time quotes, the Plus trading platform is user-friendly, organized, and informative, enhancing the trading experience.

The other notable feature of the Plus platform is the availability of risk management. Risk management tools are important as leverage are complex instruments. Although a renowned CFD broker and trading platform, Plus does have some drawdowns. Algorithmic and automatic trading is not available on the Plus platform. They are also missing several key advanced analytical tools that can be found on other platforms, and are relatively limited in trading indicators, timeframes, and platform customization options.

The limit on platform customization is due to the nature of Plus being proprietary with a closed ecosystem, meaning traders will not be able to modify codes, expand add-ons, or switch brokers. Plus has a number of notable features which include:. Plus employ guaranteed negative balance protection and guaranteed stop-loss orders for traders to limit the risk they take with trading.

Furthermore, Plus offers an extensive range of trade sizes, meaning different levels of risk can be taken on as seen appropriate. As with many trading platforms, Plus offers a demo account for traders to practice with before opening a live account.

The Plus demo account comes with no time limit to practice and EUR 40, or equivalent virtual currency, which automatically refills when the account drops below EUR The high-risk nature of forex and CFD trading means that demo accounts play an important role in introducing new traders to leveraged instruments without risking their capital. As a global operator, Plus is expanded in subsidiaries known as PlusAU, PlusUK, PlusCY, and PlusSG for their regulating entity in Australia, UK, Cyprus, and Singapore, respectively.

Each may contain its own PDS, so it is suggested for new traders to be aware of this before beginning their trading journey with the relevant Plus subsidiary. The NinjaTrader trading platform is registered under NFA and is based in the USA. Since its development in , the NinjaTrader trading software has progressed a range of advanced forex charting tools. As a trading software program, NinjaTrader is required to be connected with a market data provider to receive information on global markets.

NinjaTrader is an appealing software for traders due to its real-time charting capability. Traders can customize charts with trading indicators, drawing tools, and detailed bid-ask quotes. The Market Analyser from NinjaTrader allows traders to scan forex markets and generate alerts for specific currency movements. Traders may be limited to the choice of the broker, as NinjaTrader is only available through a handful of providers on web devices, not mobile.

With fewer users and professional app developers in comparison to MetaTrader and cTrader, the trading community within NinjaTrader is relatively inferior. As mentioned, charting and trading tools through this software are exceptional. With detailed forex trading facilities, webinars, demo account services, and the active trader program, FXCM is a very suitable broker for traders using NinjaTrader.

Furthermore, FXCM offers award-winning customer service and is regulated through the UK, Australia, Canada, and the USA. Additionally, traders based in Ireland and the UK have the option of spread betting through FXCM. Demo accounts, historical market data, third-party apps, indicators, and automated trading strategies are all available on NinjaTrader 8, offered by FXCM in As mentioned, NinjaTrader is only available through a select few brokers.

Of these brokers, FXCM is the most widely regulated and can, therefore, offer the software platform to traders around the world. Although FXCM has relatively high trader fees, their VIP account offers substantial savings and, as such, is predominantly recommended for high-volume traders.

Next Generation is a powerful mobile and web trading platform offered exclusively by CMC Markets. This award-winning trading platform is equipped with:. Next Generation offers a number of features that make it stand out compared to other platforms. These include:. Although the Next Generation is an extremely sophisticated trading platform, it does not offer social trading and automation.

Furthermore, Next Generation is a proprietary trading platform, meaning it is difficult for traders to change between platforms. CMC Markets is the exclusive provider of the Next Generation trading platform. As one of the highest-ranking forex brokers, CMC Markets offers a large range of currency pairs and CFD instruments, as well as a platform for stock trading.

Next Generation has been developed as a WebTrader platform and app for Mobile and tablets using iOS and Android. CMC Markets is renowned for its large variety of CFDs available. There are not many brokers that offer spot and forex currency pairs. While CMC Markets count both sides of the pair i.

The brokers offer competitive spreads and no commissions on all major, minor, and emerging currency pairs. When trading CFDs, CMC has the following notable features. CMC Markets also offers forex currency indices, where traders can speculate on a range of different indices with low spreads and margin rates.

CMC Markets can effectively measure exchange rate indices through a trade-weighted index. By providing this data, CMC Markets allows traders to observe the weighting of currencies depending on their use in international trade, as well as a range of percentage weightings for popular forex indices. CMC Markets is the largest forex broker with the most currency pairs and CFD instruments on offer.

With various trade size options, proven financial experience, sophisticated technology, risk management, no minimum deposit amount, and highly regarded customer service, the CMC Markets Next Generation feature is a suitable trading platform for all kinds of traders. TradingView is an advanced online platform designed for charting, social networking, and trading ideas. The TradingView system allows traders around the globe to share and discuss ideas and trade scripts to help each other learn.

TradingView is foremost a charting and networking platform, as opposed to the other traditional trading platforms explored in this review.

TradingView is an exceptional platform for charting and social trading. With various features and drawing tools on offer for the analysis of a range of CFDs, TradingView is considered a useful addition to trading resources. Traders can also use the stock screener to analyze and identify potential trades. Furthermore, all the analysis and insight can be shared through the widely used TradingView social media interface.

As mentioned, TradingView is not a traditional trading platform and is therefore predominantly limited to the charting features and social aspect it offers. Traders cannot buy or sell financial instruments without integrating the TradingView system with a trading platform through a broker. TradingView offers a free and paid subscription, with the latter only having a handful of additional features.

The best broker for integration with TradingView is Oanda. Suitable through the web, desktop, and mobile app, Oanda offers its trading platform known as TradeStation. Several features include:. Autochartist is a valuable tool that utilizes automatic chart pattern recognition software. Some key features of the software include live market screening, customizable alert signals, market volatility analysis, historical performance data, economic calendar and news, and more.

Oanda offers its clients access to the Autochartist software for free. Oanda accepts a range of deposit and withdrawal methods from both major and minor currencies, including debit card, bank transfer, cheques, and automated clearinghouse. Oanda does not require any minimum deposit amount for funding, as they do not enforce any such policy. The advanced price technology and strong financial regulation make Oanda a trustworthy broker for TradingView integration. The platform is an easy-to-use online platform with browser-based execution.

Traders can access spread betting, CFD trading and share dealing. All traders can enjoy advanced charting software solutions and have greater control over risk through sophisticated risk-management tools. The first drawback is the missing desktop version. Other than that, the web-based platform is well suited to cover all your trading needs under all market conditions. Along with its educational resources, IG is known for its sophisticated trading tools within a large choice of trading platforms, including its core platform and specialist platforms L2 Dealer, ProRealTime, and MetaTrader 4.

Their core platform is renowned for:. Available on web, mobile, and tablet devices, the IG trading platform comes with many award-winning features and tools such as watchlists, price alerts, orders, and Autochartist. These monitoring tools can be valuable for tracking and controlling trades throughout the day. Additionally, IG provides access to Reuters News a streaming service to provide clients with news and insight , Autochartist an automated monitoring tool that can be programmed to provide chart pattern alerts , and Trading Central a technical analysis tool that updates traders on markets.

As mentioned, IG offers two account types — standard spreads but no commissions and ECN-style spreads and commissions. The analysis shows that IG offers the lowest average spreads on their standard account as compared with many other brokers. ThinkOrSwim is a trading platform offered through TD Ameritrade that provides access to commission-free stocks, ETFs, and options.

With desktop, web, and mobile compatibility, ThinkOrSwim is a cutting-edge platform designed by traders. ThinkOrSwim is equipped with up-to-date news, analysis, and a network for live streaming insight. ThinkOrSwim is designed by traders for traders.

Knowing this, the platform is considered efficient and equipped with the necessary technical tools to optimize the trading experience. Additionally, the platform is available through desktop, web, and mobile devices, meaning clients can trade on the go. The Forex Trader is the dedicated interface optimized for the foreign exchange market that has the following key features:.

TD Ameritrade also combines the platform with extensive research capabilities, providing traders with education and news to enhance their trading journey. ThinkOrSwim is exclusively offered to US-based traders through TD Ameritrade. What can be considered the largest forex broker may vary depending on the time period used to measure size.

Important factors to consider when gauging the size of a forex broker are the assets under management, number of clients, and market capitalization valuation for public companies.

Here are the top 10 brokers by forex and CFD trading volume according to data compiled by Finance Magnates during the third quarter of data excludes Japan due to the abnormally high trading volumes known to come from Japanese brokers :.

CMC Market's Next Generation platform comes with a massive selection of nearly 10, tradeable instruments. It delivers a terrific user experience, as well as advanced tools, comprehensive market research, and an excellent mobile app. Hands down, the CMC Markets Next Generation trading platform is a market leader that will impress even the pickiest of traders. The new Dynamic Trading tool allows you to place multiple trades simultaneously, which was a nice innovation by CMC Markets this year.

If you're a fan of mobile platforms — or trading forex on the go — see our picks for best forex trading apps here. What do you value most in a forex broker?

Maybe you want to trade forex on the go. You might be looking for the most cost-effective forex brokers. Or maybe you are a beginner forex trader who is just getting started. With a wide range of forex brokers comes a wide variety of features and specialties. IG offers the most tradeable CFDs in the industry, 19, CFDs, or "contracts for difference," enable traders to speculate whether the price of a stock, forex pair, market index, or commodity will go up or down without taking ownership of the underlying asset.

Alongside nearly 10, CFDs, CMC Markets offers the most tradeable currency pairs, with pairs that can be quoted both ways i. As a highly-trusted and regulated global brand, Interactive Brokers IBKR provides everything professional traders might need, from advanced trading tools and platform features to competitive pricing across a wide variety of markets, as well as connectivity to over global exchanges.

In addition to competitive spreads and low commission-based pricing for forex, Interactive Brokers provides more third-party research than any other broker. Interactive Brokers continues to innovate its platform offering, such as with its new Impact app for environmental, social, and governance ESG investing, alongside the related Impact dashboard available in its Trader Workstation TWS desktop and WebTrader platforms.

Professional client status : In today's highly regulated forex world, traders who want to maximize their margin leverage must apply and obtain ESMA's professional client status with their broker.

Traders designated as Professionals in the EU do not receive negative balance protection and other consumer safety mechanisms such as eligibility for compensation schemes in the event of a broker's insolvency. To determine the best forex brokers for professional traders, we broke down each broker's active trading program, and compared all available rebates, tiers, and all-in costs.

Trading platforms were then tested for the quality and availability of advanced trading tools frequently used by professionals. Here are three of the most important factors to keep in mind when choosing an online broker for forex trading.

Not sure how to go about choosing a forex broker? Check out our Forex Broker Compare Tool to compare dozens of the biggest forex brokers in the industry and analyze their top tools and features. Our Compare Tool is fed by data gathered by our expert researchers for our forex broker reviews , so you can feel confident you have the most up-to-date information at your fingertips.

To see an intuitive, comprehensive list of highly regarded regulatory agencies, check out our Trust Score page. Also, be sure to check out our in-depth reviews of forex brokers — we detail the regulatory status of each individual forex broker across the international forex landscape. Here are the Overall rankings for the 39 online brokers who participated in our Annual Review, sorted by Overall ranking. Was this helpful? Yes or No.

At ForexBrokers. com, our evaluations of online brokers and their products and services are based on our collected quantitative data as well as the qualitative observations and qualified opinions of our expert researchers. Each year we publish tens of thousands of words of research on the online forex brokerage industry, and we evaluate dozens of international regulator agencies click here to learn about how we calculate Trust Score.

We test all available trading platforms for each broker — whether they are proprietary or come from third-party providers — and evaluate them based on a host of data-driven variables. All websites and web-based platforms are tested using the latest version of the Google Chrome browser.

Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running macOS Ultimately, our rigorous data validation process yields an error rate of less than. For a full explanation and accounting of our research and testing process, please click here to learn more about how we test.

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Read more on forex trading risks. Steven Hatzakis is the Global Director of Research for ForexBrokers.

Steven previously served as an Editor for Finance Magnates, where he authored over 1, published articles about the online finance industry.

A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U. as a Commodity Trading Advisor CTA. Blain Reinkensmeyer has 20 years of trading experience with over 2, trades placed during that time. He heads research for all U. com and is respected by executives as the leading expert covering the online broker industry. John Bringans is the Senior Editor of ForexBrokers.

An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.

He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.

com is committed to the highest ethical standards and reviews services independently. Learn How We Make Money. Home Forex Guides Directory. November 15, Best overall broker, most trusted Minimum Initial Deposit £ Pros Outstanding platforms and tools Over 19, tradeable instruments Competitive pricing Cons No predefined layouts on the flagship web platform Limited product range on MT4.

Pros Flagship platform is top of the line Over 40, tradeable instruments Excellent customer service Cons High minimum deposit. Pros Low trading costs Excellent web and mobile platforms Robust research materials Cons Educational offering could be improved MT4 offering limited to 62 symbols.

Pros Robust platform for professional traders Wide range of global markets Thorough research offering Cons Trader Workstation platform is likely too complicated for inexperienced traders.

Best desktop platform, U. Pros Outstanding platform in thinkorswim Thorough research offerings Excellent educational materials Cons Does not offer copy trading Forex pricing is slightly higher than industry average. Pros Multiple high-quality platforms Excellent market research Wide range of markets Cons Only about instruments are available on the MT5 platform, compared to over 4, on non-MetaTrader platforms. Pros xStation 5 platform is an industry standout Robust selection of trading tools Excellent customer service Cons Pricing is just average.

Excellent all-round offering Minimum Initial Deposit £ Pros Excellent platforms and mobile app Extensive range of markets High-quality market research Cons Pricing is average for the industry Limited product range on MT4. Pros Large number of investors to copy Extensive range of markets to trade User-friendly platforms and app Cons No automated trading strategies Stops, limits mandatory on trades Research trails competitors.

security Find a trustworthy broker: ForexBroker. percent Pro tip: For most beginners, trading forex with an amount of capital that you can afford to lose can be a great way to learn with less risk, and can be of value if you focus on the percentage returns rather than their dollar value.

smartphone Mobile forex trading If you're a fan of mobile platforms — or trading forex on the go — see our picks for best forex trading apps here. biotech Methodology: To determine the best forex brokers for professional traders, we broke down each broker's active trading program, and compared all available rebates, tiers, and all-in costs. Submit Details. Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.

Blain Reinkensmeyer Blain Reinkensmeyer has 20 years of trading experience with over 2, trades placed during that time.

There are plenty of free forex trading platform available with online brokers, but not all are good choices. Our experts look at the best trading platforms for CFD and currency trading you can use for free. With over 20 years of investing experience and 10 years of trading, Justin co-founded Compare Forex Brokers in He has worked within the foreign exchange trading industry for several years and for several of the largest banks globally.

Justin achieved Honours in Commerce and has a Master's degree from Monash University. He also owns Innovate Online offering digital marketing services with over 20 employees.

Fact Checked. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site. MetaTrader 4 is the most renowned trading platform in the world of forex trading and considered the benchmark among forex traders. MT4 continues to lead market share even after the release of MetaTrader 5 in Source: Finance Magnates Intelligence. MetaTrader 4 provides retail traders with a substantial range of technical and analytic tools to trade forex.

MT4 has one of the largest trading communities which allows countless opportunities for social trading, add-ons and automation tools. Another advantage is the ease you can switch to other brokers, as so many brokers offer the platform.

While MetaTrader 4 is generally considered the best platform in the market, there are weaknesses to note. Across the range of major currency pairs available on MT4, Pepperstone achieve lower average spreads in comparison to other brokers. spreads are taken from each broker's website and updated monthly.

Pepperstone also provides competitive commission fees. The below table shows the commission fees for each foreign currency. The below table calculates the trading costs of buying forex assets and compares this cost across different brokers. This calculation is commission plus spread costs. You will notice that the larger the trade size, the greater the potential saving. Speed testing revealed Pepperstone as the fastest forex broker through an analysis conducted in On average, it took 85ms to execute trades using Market Order Execution.

Faster speed reduces execution lag time meaning less slippage and therefore more accurate pricing and a better chance of complete order fill. This is a collection of tools such as expert advisors and indicators which will help get more out of the Pepperstone MetaTrader 4 trading experience.

Since its founding in Australia in , Pepperstone has grown to become a widely accepted and reputable forex broker. Originally regulated under ASIC Australian Securities and Investments Commission Pepperstone now also has the following tier-1 regulators. The broker has a strong reputation for excellent customer service which is backed with a number of awards over the years, including:. The Pepperstone customer service team has experience trading themselves, so are equipped to help with all your trading support needs.

MetaTrader 5 MetaQuotes successor to MetaTrader 4. This platform is an improved version of MetaTrader 4, as it has the same user interface but offers more features.

Key improvements on MetaTrader 4 include:. Most notably, MT5 is built for assets that require trading through exchanges. This means MT5 is a better option if you wish to trade stocks and stock CFDs. While MetaTrader 5 is an improved platform compared to MetaTrader 4 and despite being around since , MetaTrader 4 continues to be more popular among forex brokers, including Ox Securities.

In MetaQuotes announced development will cease for MT4 and new MT4 licenses will not be made available to brokers. This announcement should see more brokers take up MT5 in future and this should accelerate the growth of the platform. Below shows the details of a Forex Magnates MetaQuotes study which shows MT5 is beginning to gain traction in the market. MetaTrader 5 offers 38 technical indicators, 44 graphical tools and 21 timeframes to help you with your analysis. Perhaps the biggest benefits of MetaTrader 5 are:.

Features of MT5 include a broader range of timeframes, several pending order types, netting and hedging mode options, depth of market function, and partial order filling policies.

A major change to the MetaTrader 5 platform is the programming language, known as MQL5. While MQL5 is a superior language than MQL4, it has the following cons:. MetaTrader 5 community and marketplace is much smaller than with MetaTrader 4.

This means there are fewer candidates for social trading and less choice of products from the MT5 marketplace. IC Markets is an excellent choice of broker for MetaTrader 5.

The brokers offer the following notable features. IC Markets is known for the low spreads it offers for the major currency pairs. The broker outperforms many other forex and CFD providers in this area based on ECN-style account types. ECN spreads mean prices are set by liquidity providers competing against each other, which ensures they offer the best possible prices.

Commissions with IC Markets are also relatively competitive. IC Markets brokerage fees are the best for all brokers the Compare Forex Brokers team has reviewed. Data collected in revealed an average trade execution speed of This can be considered blazing fast by any measure. IC Markets is able to achieve this by placing their server at the Equinix NY4 data center where over over financial providers are also located.

Traders wanting even fast execution can sign with a VPS provider which can reduce speeds to 1ms latency. Forex, indices, commodities, bonds, futures, and crypto like Bitcoin are all available through IC Markets, making them the broker offering one of the most CFDs to be traded on the MT5 trading platform. As a key feature of MT5, traders can access share CFDs through IC Markets on the ASX, NYSE, and NASDAQ.

As an innovative social trading platform, ZuluTrade is quickly becoming a widely popular feature for copy traders.

IC Markets offer ZuluTrade along with their suite of other tools including ZuluRank to analyze traders on performance and reliability , ZuluGuard to protect accounts running out of capital , and a simulation tool which allows traders to learn and test the process of copy trading. This mirroring service integrated with the IC Markets MetaTrader 4 account, making copy trading very straightforward.

The platform also has measures in place to ensure traders that can be followed trade with the intention of being successful and not for commission profits. cTrader is the 3rd most popular available trading software for free. Developed by Spotware, the platform is available on desktop, Web Trader and mobile devices. cTrader is especially popular with scalpers due to its fast processing speed.

While cTrader market share data is not available, the table below shows the popularity of the 3 leading trading platforms based on their respective community websites and app downloads. cTrader is known for its large number of indicators, timeframes, and exceptionally fast execution speed. The main advantages of cTrader include:. In addition to these features, cTrader has its own version of Expert Advisors called cTrader Automate formerly cAlgo. Coders will appreciate the use of C which is a language well understood by programmers.

Traders needing further help have access to resources such as cTDN forums and cTrader Developer Network. As mentioned, cTrader is a close competitor but remains the third most popular trading platform behind the MetaTrader platforms mentioned previously.

The smaller market share implies a smaller online community of traders. In terms of accessing liquidity and trade execution speeds, the Spotware server is located in the UK as opposed to MetaQuotes which is in the USA. This may not be an issue for some traders.

FxPro never interferes with pricing through the trading process. The broker uses liquidity from other traders taking the other side of the trade, where this cannot be achieved the broker uses STP to complete the trade. This system means FxPro can allow fast trade execution speeds of Quotes shown through FxPro are therefore extremely accurate to the price the order is filled to.

When comparing trading platforms on FxPro, spreads can range from 1. For cTrader, however, spreads are on average around 0. Trading costs are optimized by using cTrader through FxPro.

FxPro is able to deliver orders each second and achieves superior speed compared to MetaTrader. FxPro is regulated under several key global markets, including the European Union FCA and CySEC , South Africa FSCA , Dubai United Arab Emirates , and the Bahamas, making the broker a suitable choice for traders worldwide depending on the entity that matches their location.

This also provides traders with more options regarding trading conditions, such as leverage and negative balance protection, which can help protect retail investor accounts. Over financial instruments including forex pairs, futures, spot indices, shares, metals, and energies are offered by FxPro on the cTrader platform. The extensive range of trading instruments is another feature alongside training courses, news, analysis, and trading tools provided by FxPro that enhances the trading experience with cTrader.

FxPro is the best-suited broker for cTrader due to its high-standard infrastructure with co-location servers , fast execution speeds, tight spreads, and a wide range of financial instruments. A few noteworthy features of FxPro include:. eToro is a multi-asset trading platform that incorporates social and trading features. As a social trading platform, eToro stands out from competitors in the copy trading field for 3 reasons:. The eToro trading platform offers a large range of CFD trading tools.

These include cryptocurrencies, stocks, forex, commodities and ETFs and are available with zero commission costs. Traders can choose between a Windows download, WebTrader and iOS or Android app for mobiles. This allows you to spend more time doing other things while traders you copy do all the research and investing. Beginners to trading with minimal experience can benefit from this, as they can learn from and copy more experienced and successful traders.

This feature works like an index where you can copy a portfolio compiled from some of the best traders in the eToro community. eToro regularly rebalances these portfolios to ensure you are receiving the best possible portfolio.

The broker offers an excellent selection of forex pairs; 71 in total, including all major currency pairs, minor currency pairs and exotics. Pepperstone Review IC Markets Review FP Markets Review CMC Markets Plus Review eToro Review IG Review FXCM Review. Check for reviews on the historical spread, commissions for various accounts on offer as well as minimum deposit and withdrawal fees. eToro is a winner for its easy-to-use copy-trading platform, where traders can copy the trades of experienced investors — or receive exclusive perks for sharing their own trading strategies. It also offers a demo account.

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