When you first come to the world of Forex trading, you will be surprised with the amount of different trading platforms that are offered. Due to differences in preferences, it is difficult to decide which software is the best for every trader. This is why we have reviewed the major FX trading platforms and decided to pick the best one for each major group of traders.

If you are just starting with Forex, it is important for you to pick up the platform that will be comfortable and fast. FX platform for the beginner can sacrifice some analytical features, but not the comfort and ease of creating orders. You can find the main features of our favorite beginners trading platform below.

While you are developing as a trader, you become more and more demanding to you platform. This is why the best Forex trading platform for professionals will differ from the beginners friendly in almost every way. Such platform should have a great set of tools for the analysis and allow one click trading, while still remain fast.

While Mac OSX is increasing its share in the market of the operating systems, Windows still remains the major desktop operating system. This is why it is important to pick the trading software that will work perfectly with your OS. You can preview our favorite desktop trading platform below!

Probably the most used type of trading software is the desktop version of the trading platforms. This requires downloading of the specific software and opening an account with a broker. The strong point of the desktop platform is that you would have access to all the trading tools and be able to take the best advantage of the software.

As we said, there are quite a few platforms developed, written in different languages, including a variety of tools. So which one to choose? The best trading software offers quick order placing and various tools to base your strategy on.

MT4 desktop platformwould offer access to over 2,000 brokers, 30 technical indicators, and 24 analytical indicators, the possibility to open 10 charts at once, access to financial news and calendar, as well as real-time quotes, algorithmic trading, and strategy tester, as well as live quotes and very little latency and a market forExpert Advisors.

In its turn, cTrader offers full market execution, spreads starting with 0 pips or limitless stop/limit levels, the software allows for fast order placing, and one-click trading, but also cloud characteristics and integrated mirror trading. WhilePlus500gives you access to CFD trading, technical analysis, charting (however, charts are displayed individually, not several in one screen).

You looked for a while at the currency market and feel you can make some money out of it, but you dont really know where to start. Well, a major asset in your quest for success is Forex trading platform you choose. The software can help you make the difference between winning and losing. Just like any other IT tool, the more complex and up-to-date the platform is, the better results you will have.

But what is a trading platform and how can we determine which one to put at work for us? As we explained, the trading platform is, actually, a piece of software that allow you to buy and sell currencies, in short. This is a tool that you can either get from specific developers, or from the broker you chose to trade with. Some brokers offer it for free, while others have packages that include a lower cost for the platform, should you trade a certain amount each month.

Why is it of such big importance to choose best FX platforms? The tool itself can help you improve your strategy and stay in touch with the latest market news. It would offer you the option to make market analysis, charts, helping you test your strategy and make the most lucrative decisions.

When you start looking for best Forex platform to accommodate your needs, you will discover there are quite a lot out there. Some developed by specific brokers, others developed by programmers with extended experience in the trading world. And with several versions for your different devices. Some you will have to download, while others are web-based, most of them have a mobile version for your smartphone or tablet. Depending on the programming language, you will find quite a few available platforms, some offering all types of solutions: desktop, web, mobile etc. Among the top FX trading software, you will find:

Another feature that determines your choice is the availability of mobile version. This would help you continue trading even when you are not in front of a computer.

The first rule in mobile trading (that would, actually determine who you choose in desktop, as well) is how much access you have to all the tools you need. Some platforms offer access to most of the tools available in the desktop version.

MT4 (and its following platform MT5) offer full trading functions, charting, all trading orders, as well as indicators, in a user-friendly app foriOSandAndroid.

In its turn, cTrader has one touch trading, real-time charts, all trading orders, while Plus500 offers real-time quotes, trading orders, access to all CFDs trading, in an easy to use the app. Another platform, younger, Sirix, offers the mobile-optimized version of itsweb-based appthat provides social trading.

The mobile app gives you access to all major features of social trading, but we will detail this type of platform a little bit later. More or less the same goes foreToro, the OpenBook app available forAndroidandiOS, a social platform that is also optimized for mobile and lets you access charts, place, and edit orders, connect with other traders and copy trade.

Since the technology improves constantly, most top Forex trading platforms developed web trading solutions, while others even decided to give up the desktop platforms, and use web-based solutions altogether. This is an easier solution as you would have access to your account with a simple internet connection. They rely not only on the particularities of the programming language but also on the internet speed in offering a complete trading experience.

MT4allows you to access your account directly from the browser, the solution is compatible with all operating systems and the data is encrypted, it gives you access to trading history and to all types of trading, as well as to real-time quotes. The platform has the same capabilities as the desktop one.

eToro, as well, developed a web tool that helps you to copy trades, with a user-friendly interface and access to charts, trading orders, and fully synchronized with the OpenBook activity.Sirixoffers one-click trading and full access to social trading, real-time quotes, built in indicators, charting and black and white HTML, in a shared wallet with the web, mobile, and tablet.

Another trading solution that you may find useful is trading based on algorithms. Meaning a complex formula that will develop trading strategies and that would place orders based on specific variables to automate trading. Some of these platforms are built-in the trading platforms, while others are stand-alone apps.

If we look at the top Forex softwareMT4orMT5, they developed the automated trading solution within the MT software, with MQL4/5 Integrated Development Environment, thus eliminating any potential glitches in trading. The software allows you to develop your own Expert Advisors. It features the MetaEditor that develops strategies in MQL and a debugger. Once you developed your application, it is automatically sent to MT, tested and put to work.

On the other hand, some other platforms develop stand-alone apps for algorithmic trading. And cTrader is one of them, with its cAlgo solution, an app that needs to be downloaded separately, offering fast execution and back tests, and being integrated with cTrader, to give access to preloaded technical analysis, but also to writing indicators.

Besides the classic trading platforms, lately, some so-called social trading platforms developed, such aseToroorSirix. They focus on bringing traders together and let them use one another experience to come up with best results in trading and offering best FX trading software. eToro is an OpenBook social trading tool that allows you to follow other traders and connect with them.

The platform offers the copy trader tool, allowing you to automatically copy the trades of peers in real time. The platform offers a demo account so that you can test it without losing money.

In its turn, Sirix has an integrated social trading solution, with access to peers trading, and copy trades in the social stream tool. The software also gives access to historic data and provides a traders I watch tool to let you see how peers you follow trade and lets you copy their trading automatically. The application gives access to traders that use different brokers.

Now that we covered all major trading platforms, what are the most important features to look for when choosing the best FX trading platform? There are a few features that determine what is the most appropriate trading platform to accommodate your needs:

The technology behind the platform is essential for your trading, as well as the reliability, lack of crashes and glitches. Access to real-time data, that gives you an up-to-date value of currencies and allows for immediate order placing would help you take advantage of any market changes or stop trades before losing. The reliability of the platform, which limits slow-downs, is also essential for the same reasons.

Various chart types, trading within the chart, alerts of your choosing, multiple indicators would also make trading easier. The availability of a calendar with major economic events with impact on currencies is also a strong point in choosing a trading platform. Much like the market news feature, to alert you to major developments that may change your trading strategy. An alert setting, as well, is a significant tool, as it will let you know when a certain limit is reached.

A demo account feature can help you understand the platform specifics without the risk of losing money and become more familiar with certain tools that can help you in real life trading once you decide to open an account and start trading with your own money.

There are quite a few characteristics you need to consider before using one platform or another. Information is key both in terms of technology and in terms of market data. So, make your research and start trading based on an informed decision.

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