Forex Trading Platforms List 2019 - The Top Choices

Forex Trading Platforms List 2019 - The Top Choices

If you’re looking for the best online trading platform, you’ve come to the right place. The team here at FX News has put together a forex trading platforms list that clearly explains the advantages of each platform, so you can choose the one that’s right for you.

By the time you finish this article, you’ll know which platform you want to try. Let’s get started!

 

Choose an option from the forex trading platforms list

SET UP AN EXNESS ACCOUNT HERE

The forex trading platforms list

Before you choose a trading platform, you’ll need to choose a reputable broker to trade with.

You, like thousands of other forex traders, have presumably chosen Exness due to our tight spreads, fast order execution, instant withdrawals, no hidden commissions and low minimum deposit.

Choosing Exness is a good decision that will serve you for many years to come, so now let’s look at the range of platform types you can choose from.

A forex trading platform is the software that allows you to safely access and trade on the global markets from your computer or mobile device.

At first glance, they may all look the same, but there are important differences. Each type of platform listed below is specifically designed to meet the trading preferences of certain types of traders.

  1. WebTerminal
  2. Mobile
  3. Desktop

Let’s delve deeper and examine the differences between trading platforms. We’ll also look at the benefits and any limitations so that you can make an informed decision. Read on to work out which platform(s) you want to use.

1.  MT4 & MT5 Web Terminal: multi-device trading

Some traders don’t have massive computing power. Others want to trade from multiple devices. For these people, the MT4 Web Terminal is an option worth considering as no download or installation is required.

The MT4 Web Terminal is easy to use and lets you switch from one computer to another with ease. The WebTerminal offers:

  • Real-time quotes
  • Customizable price charts
  • 9 timeframes on charts
  • Entry level analytical objects

Although you cannot use trading robots (Expert Advisors) on the MT4 WebTerminal, it deserves a place on our forex trading platforms list as it is one of the most convenient platforms out there. If you are a newbie forex trader looking for hassle-free trading conditions, MT4 WebTerminal is definitely worth a try.

2. Mobile trading platforms: for the trader on the go

Mobile devices are more powerful than ever before. This has opened the door for advanced mobile trading apps. Mobile trading on the go has never been so convenient or accessible! If you want to trade from your mobile device, here's what you should look for in your mobile trading platform:

  • Complete control over your trading account
  • Forex trading from anywhere in the world
  • A large number of forex technical indicators
  • All order types
  • Forex financial instrument charts

mobile Forex Trading Platforms listTrade anywhere using a mobile forex trading platform.

As with the web-based MT4 platform, you won’t have access to trading bots and autotrading scripts with a trading app, but those tools should really be set up with care and patience from your desktop platform anyway. Some traders say the mobile app is top of the forex trading platforms list. Convenience trumps functionality.

3. MT4 & MT5 Desktop: The most popular choices

Also known as MT4, MetaTrader 4 is the undisputed leader of trading platforms. It has been the number one provider for forex market access for over a decade and is the default platform of most brokers. MT4 allows traders to analyse the markets, perform a variety of trading operations, and run trading robots or expert advisors on multiple currency pairs.

MT4 has generally been regarded as the best platform for beginner traders, but its developer, MetaQuotes, is no longer providing the same level of support or updates. In 2019, MetaQuotes will be focusing entirely on its latest, more advanced offering - MetaTrader 5 (MT5).

Imagine all of the incredible functions of MT4 with upgrades and new features and you’ve got the powerhouse known as MetaTrader 5 (MT5). Perhaps the best trading platform in the world, MT5 offers:

  • Up to 21 timeframes on charts
  • An inbuilt forex calendar with news events and forecasts
  • 38 inbuilt indicators, 22 analytical tools, and 46 graphical objects
  • MQL5 Community allowing traders of all levels the freedom to ask and answer questions
  • MQL5 Language offering traders a way to create their own trading robots, technical indicators, and scripts

MT4 and MT5 Forex Trading Platforms list
MT5 is easy to use, regardless of trading experience. As your experience grows, you’ll be able to develop your trading strategies and maximize your performance. Traders can still use MT4, but that platform is going to become increasingly outdated over the next few years. It makes sense for traders to move to the newer, more powerful platform sooner rather than later.

So, which platform on this forex trading platforms list is right for you?

Just remember that there is no one-size-fits-all solution and many traders use more than one type of platform. Exness offers traders a wide range of trading platforms and accounts that can be set up in your Personal Area.

We would recommend that you choose a trading platform that fits in with your trading preferences, but everything on the forex trading platforms list will give you what you need. If you want lots of monitors, a platform that comes loaded with the latest trading robots, and indicators at your fingertips, then perhaps the MT5 Desktop is right for you. On the other hand, if you want to check your trades regularly while out and about, the mobile trading app is the clear choice.

The forex market offers excitement, thought-provoking trading opportunities, and a chance to expand your financial options. You might want to try every option on forex trading platforms list for yourself. Experiment! Just remember that becoming an experienced trader requires a lengthy learning process. Be sure to check the Exness Help Center whenever you have a question about our platforms, trading conditions, support and more.

Choose an option from the forex trading platforms list

SET UP AN EXNESS ACCOUNT HERE

Your 4-step guide to opening a trading account

 

Step 1: Getting registered

It's very easy to open an account with Exness. Click here to open the sign-up page in a new tab. If you want to get everything done in the next 10 minutes, be sure to have a credit card, ID, and, proof of address by your side. You can choose to open a demo account without these things. Either way, everything you need to know is here in this two-minute video. Pause the movie as you go through the first three steps.

Tip: Account type depends on the amount you wish to deposit. Leverage is effectively an interest-free loan that the broker offers. It allows you to make a large investment from a small deposit. If you are looking for high profit with high risk, a higher leverage might be right for you. If you prefer slow-burning safety with lower results, then keep your leverage low. You can never lose more than you have, but higher leverage means faster results... both good and bad.

Step 2: Prove who you are

Exness takes security very seriously, and they check every client signing up. Just like opening a bank account, you'll need to prove who you are before getting access to the global markets. Watch this one-minute video to see how.

Tip: While you're waiting for your real account to be approved, open up a demo account and start getting to know the trading platform.

 

Step 3: how to get access to the market

Trades are commonly made using the award-winning MT4 trading platform, but you can use any of the options on the forex trading platforms list. Inside the box of the demo or real account you'll see a gear cog. Click the gear cog to make a deposit. Use the passwords provided in the email. Click the gear cog again and select SIGN IN TO MT4 WEBTERMINAL then follow this one-minute video. You're about to make your first virtual trade on the real markets.

 

Step 4: making a trade

As a default, the top currency pair on the list will have an open chart. Right click on the chart and select the “close” option.

As a professional trader, selecting the right pair requires some research. For a first-time test, any pair will be sufficient. Drag a pair from the list of currencies on the left side of the trading terminal. The old saying goes, “what goes up, must come down.” Obviously, this principle goes the other way too. Your mission is to find a moment when the price direction is going to swing or reverse. If you feel the price is about to go up (bullish), then BUY, if it looks like it’s been trading high and the price has started a downward (bearish) trend, then SELL.

Open a trade

There are many ways to open your trade. You can select from the buy and sell options on the top left of the chart. Preferably, double-click the currency pair on the list. Right click on the chart when you’re ready to make your first trade. Time to set the volume depending on how confident you are in the direction you are forecasting. This is the perfect time to set your stop loss and take profit. Click the arrow to the right of the stop loss and take profit prices.

Note how the blue and dark red lines in the popup graph sit above and below the buy(ask) and sell(bid) price. In the example, we traded long (buy) and got a message confirming the order was successful. If you get an error, your volume was too high for your balance, or your stop loss/take profit was too close to the spread. Remember, every order starts as a negative because of the spread. Be patient. Your take profit will activate when the time is right, and your stop loss is protecting you. To close an order, you have three options. Click the X on the right or right-click the order. If you double click the order, you can close or modify the order.

Congratulations!

You now know how to make a trade. Time to get to know all the options on the forex trading platforms list. Forex trading can be an exciting way to spend your free time, and you'll actually learn some real-world skills that will serve you well throughout your lifetime. Be patient, learn, and who knows, you might one day be one of the lucky few full-time traders. How will you spend your day?

 

Choose an option from the forex trading platforms list

SET UP AN EXNESS ACCOUNT HERE


This article is a marketing communication and does not constitute investment advice or research. Its content represents the general views of our experts and does not consider individual readers’ personal circumstances, investment experience, or current financial situation.
This article is not prepared in accordance with legal requirements promoting independent investment research, and Exness is not subject to any prohibition on dealing before the release of the article. Readers should consider the possibility that they may incur losses. Therefore, Exness is not liable for any losses incurred due to the use of its articles. Please note that past performance of an asset is not a reliable indicator of future results.