To change one currency into another currency is called forex trading. It’s also known as currency pair buying and selling Forex market, with the trade of 5 Trillion in a single day, currency becomes the largest global market.
What is a Forex Broker in Best Forex Trading platforms?
To trade in foreign currencies, we work with a broker to place our trade. In forex trading, for buy and sell, we deal in currency pairs like EUR/USD to get profit. We open an account, deposit our funds, and start trading in the form of buy and sell currency on a broker trading platform for getting a margin. Also, forex market is open 24 hours per day and 5 days a week.
Here are Some Best Forex Trading Platforms:
In this article, we will discuss some of the best forex trading platforms that will help you to trade easier you to should know.
Metatrader 4 (MT4):
MT4 is a user-friendly platform. It is very popular all over the world. This provides a large range of technical indicators, charts, and auto trading options. Many traders prefer MT4 for its security features.
Metatrader 5(MT5):
MT5 is more advanced than MT4 because it has additional features like more time frames, indicators, and more types of orders to analyze the market. It’s best for beginners to start with an advanced platform.
eToro:
eToro is a social trading platform that is perfect for beginners. Its interface is very simple. Moreover, it has a social trading feature where you can see the trade of successful people and learn. eToro has a wide range of education sources. The minimum amount of 10$ required to start trading in eToro with a 90 trust score.
Plus500:
Plus 500 has the same features as above. It has a simple and easy to understand platform with a lot of educational resources. Also, it provides a demo account for practice to make you perfect. Plus500 is also famous for its security features. You can also start trading in Plus500 with the minimum amount of 100 Euro with a 99 trust score.
IG:
IG is a well-known broker for its user-friendly platform and educational resources. Also, it give some different trading tools like charts, analytics and risk management features. IG collaborates with different authorities to provide secure trading .250 Pounds required to start trading in IG with a 99 trust score.
AvaTrade:
We start trading with 100$ in AvaTrade. Avatrade is a user-friendly platform. It provides a Demo account for trading. AvaTrading provides automatic and manual trading.
How Do You Start Trading?
Here are some tips to start trading with the best forex trading platforms:
- Learn with free educational material.
- Start Practice on Demo Account.
- Study about trading software.
- Plan a trading strategy.
- Open an original trading account with trusty traders.
- Start with a small amount for risk management.
- Focus on RETURN ON INVESTMENT