5 Best Trading Platforms for Beginners 2022

Founded in 2016, Capital.com is a world-leading broker regulated by several leading authority bodies, including the FCA, CySEC, and ASIC, as well as several other institutions. Besides its big name on the market, it is also one of the platforms with various financial tools ideal for novice traders. Our review will give you a full breakdown and comparison of the best trading platforms for beginners on the market. In forex trading, it is essential to place buy/sell orders to generate profits.

AvaTrade has been committed to providing its clients with the best possible trading experience for 16 years, and its top-notch forex trading programs are in line with this goal. Whether you are a beginner or a veteran, AvaTrade has something to offer.

Fees & Commissions

There are 32 indicators that you can add, as well as drawing tools and nine chart types to choose from. The platform is regulated by the National Futures Association and Commodity Futures Trading Commission in the US, proving its reliability as a forex exchange market. CMC’s forex platform has a backtesting tool that shows how well previous patterns fared on the market during a certain Best Forex Trading Platforms for Beginners time period. Unfortunately, we weren’t able to find a function that lets you input your own strategies. Its 30-year long experience is a testament to its trustworthiness and popularity. While 47 currency pairs could be considered low, the crypto-friendliness of the platform offsets this. Every platform has costs and charges that you have to take into consideration before committing.

In addition to having access to multiple trading platforms, you can access one of the largest selections of FX pairs for U.S. traders through IG and trade on leverage. Choosing the right forex trading platform is important, especially for beginners. Though there’s not a single best forex broker that will suit everyone equally, you can choose the best forex broker that’s right for you if you know what to look for. There are also some clear red flags that will help you avoid problematic forex platforms that are rife with scams. With the mission of placing “the world at your fingertips,” Saxo Bank offers 40,000+ different financial products and easily makes our list of top forex brokers.

How to Determine which is the Best Forex Platform?

A variety of price alerts and biometric authentication are also available on the IG mobile app. Online platforms offer many ways to invest, but Interactive Brokers offers a powerful toolset and many other features.

You’ll enjoy 24/7 availability via live chat, WhatsApp, and email. Stock, ETF, CFD, and Forex trades incur a fee of 0.005% per transaction, which remains on the lower end of the pricing spectrum. Between 22,000 available stocks and nearly 38,000 additional options, there’s almost nothing you won’t find here. While their staff are MIA on Sundays; we were impressed with their dedication to providing top-notch customer service.

Step 5: Place a Trade

Here are a few questions you need to ask yourself if you want to find a good broker for beginners. With Oanda, you can now trade CFDs on four major cryptocurrencies – Bitcoin, Bitcoin Cash, Ethereum, and Litecoin using the MetaTrader 4 and 5 platforms. Spreads start from US$80 for Bitcoin, US$5.00 for Ethereum, https://www.bigshotrading.info/ and spreads from as low as US$0.6 for Litecoin. Whether it’s customizability, ease-of-use, functionality, or good research, Oanda’s platform has it all – except for price alerts. However, Oanda’s mobile app mirrors the great functionality of its web and browser-based counterparts, plus it has price alerts.

• Most trades are executed within 30 milliseconds, which is ideal for scalpers and those who run expert advisors.
• After becoming a foreign exchange brokerage house in Poland, they quickly expanded and now have thirteen offices across Europe.
• Thanks to the social trading option, eToro is an excellent choice for newbies.
• While many other competitors have begun offering equally affordable services, Robinhood maintains its position as a top trading choice courtesy of its ease of use.
• That all depends on your goals and preferences when it comes to trading forex.
• Some brokers as a way of rewarding their clients’ loyalty offer rebates on the commission paid by their clients.

These all work together to provide you with a more informed trading experience. This includes alerts, notifications, price alerts, watch lists, execution speed, and more. Customer support makes a big difference to the overall user experience of any platform.

User experience

Otherwise, as soon as something unforeseen happens and you need help, you’ll get stressed out waiting on the phone for hours on end. When choosing your first broker, it should ideally provide excellent educational material. This means high-quality video lessons and courses that help you start forex trading at the basic level and give you expert-level theoretical know-how.