There are many forex trading platforms in the market. Each platform comes with a unique set of tools that allow the trader to make their trades with ease. While most of the platforms on the market are created for general use, there are some that are better for beginners. Expert traders who have mastered their craft often go for any platform. For beginners though, selecting the right platform is crucial for a fruitful trading experience. Here are the eight best forex trading platforms for beginners.
1. Admiral Markets
Admiral Markets is the best forex trading platform that provides traders with an easy means of carrying out the trade. The platform supports different trading platforms including MetaTrader. The great thing about Admiral Markets is that it is available on multiple platforms. It is thus possible for beginners to use it from any device or software that suits them. With features like deal cancellation’ being included, it is also an excellent tool for managing risks.
AvaTrade is another platform when it comes to introducing beginners to the trade. Not only does this platform come with different account types that include Demo and Micro accounts, but it also supports fixed and variable spreads. The platform also gives traders manageable leverage of 30:1.
Markets.com is a trading platform that has some great insights. Traders of all levels use the platform, but itis especially great for beginners. With its powerful decision-making tools, this platform allows beginners to form smart trading decisions that give them the right start. Different analysis methods are also supported. The platform includes free webinars that help traders to learn.
XTB is an award-winning trading platform that provides customer support, unlike any other platform. Traders who sign up to this platform can expect to trade in over a thousand trade instruments. The platform operates in the UK, and it is available in several European countries too. It has fixed, and variable spreads and there are segregated accounts that hold clients’ funds.
When it comes to trading with MetaTrader, there is possibly no better platform than XM. This platform has received many awards for its great integration of MetaTrader 4 and MetaTrader 5. Traders involved in the various markets can use it to access data and create a proper analysis of the markets. XM is a great option for beginners since it is simple and straightforward. Even though it has only a variable spread, the platform is one of the best for competitiveness, customer support, and security.
Plus500 is known for its unique web trader platform. This leading CFD trading provider has been on the market for a long time. It has helped beginner traders get acquainted with the market. Users are allowed to operate two account types – Demo and Standard. Beginners will find this platform to be great because of its removal of commissions on trades. The platform is also the highest-rated CFD trading option. It comes with over two thousand instruments across various markets.
Pepperstone is a platform recommended for beginners because of its low spreads. This award-winning Australian CFD broker platform supports all the popular platforms. It also allows users to access Demo and Standard accounts. Also, the platform is secure and credible as FCA & ASIC regulate it. In overall, the top-tier customer support makes this platform a no-brainer for beginners.
8. IC Markets
Finally, IC Markets comes with many features that make it outstanding for beginners. It has some of the lowest spreads, and it supports MetaTrader 4. Most users who go for this platform also cite the ECN Broker that is included as a favorite tool. Apart from that, the client funds are availed in segregated accounts, and there is a negative balance protection mechanism in place. All these features are vital for traders who are just starting in the market.
There are indeed many platforms that you can find on the market. Not every platform is great for beginners though. To succeed, beginners need to look for specific platforms that address their needs. The above platforms are some of the friendliest, competitive and efficient options for beginners. They are the top options for all traders looking to start their trading journey without challenges.