The best forex trading platforms offer a wide range of tools and features to help traders make informed decisions when investing their money. These include advanced technical analysis and charting tools, a variety of order types, hedging capability, and customizable charts and interfaces. In addition, the most effective platforms provide robust educational resources and a range of account options to suit different trading styles.
IG, which focuses on spread betting and offers a full suite of forex trading platforms, notably the MT4 platform, has been praised for its ease-of-use and robust technical analysis tools. Its platform comes with 21 timeframes including 11 different’minute’ charts, seven different ‘hourly’ charts, as well as daily and weekly charts. It also offers hedging and netting modes, as well as six different types of pending orders – buy-stop, sell-stop, buy-limit, sell-limit, and buy-stop-limit – which are not always available on other competing platforms.
Best Forex Trading Platforms: Reviews and Comparisons
Thinktrader, which used to be branded as Trade Interceptor before the company’s recent rebranding, is an advanced forex trading platform that features touch-enabled trade management functionality and over 160 intelligence indicators. It also offers multiple chart display options, split-screen and quad-screen support, as well as a built-in market scanner and a number of different drawing tools.
Traders who prefer the flexibility and cost efficiency of an STP broker may find that Interactive Brokers is the ideal platform for them. The broker, which is renowned for its low fees and powerful trading tools, connects clients directly to top-tier liquidity providers, allowing them to access real-time quotes and ensuring competitive pricing.