Forex trading requires a trained eye to be able to competently make the right trades.
This ability will stop you from falling for scams or generally bad trades. This is why it is important to find the best forex trading platform that plays to your strengths. You have to understand what you want to achieve and use your forex trading app platform of choice to its fullest potential.
Parameters’ such as, how much money you want to trade? Do you want to invest in Bitcoin, are you always on the go, come in to play?
Read: Forex Trading in South Africa, what you need to know
If you are a first-time trader you will need an easy-to-use platform. Preferably use a broker, this might not have all the complex features but it will serve you well.
For those who consider themselves veterans, there are more complex platforms. You can customize it to suit your best forex trade preference. For those of you who are looking into cryptocurrencies, make sure your forex trading app supports it.
Here are a few platforms that you can look into for the time being.
- Ava Trade
Founded in 2006, Ava Trade is a pioneer in the forex trading industry.
This is a trusted and well-known brand and has a proven track record. Ava Trade places significance on customer satisfaction and is best for new traders.
Ava Trade has such a diverse portfolio and this will meet the demands of most traders. The platform uses cutting-edge technology providing a simple yet robust interface.
It is no surprise Ava trade processes over three million trades a month. For traders looking for ways to invest in bitcoin, Ava Trade was one of the first platforms to adopt digital currency.
- XTB
XTB is another big brand in the forex trading industry. With over 14 years in the industry, they have built a formidable platform with over 300 000 users.
This makes them one of the largest platforms in the world. It has subsidiaries in more than 13 countries.
XTB places emphasis on the use of the latest technology and their xStation app is one of the best on the market. This makes this platform another firm favourite of new users.
They have cultivated an air of trust in their brand. They have a 24-hour support team. They pride themselves in good customer service further cultivating trust in their platforms
- FXTM
Considered new to the industry, FXTM has come a long way in a short period. It is a popular brand and its name is synonymous with forex trading.
In the 10 years they have been around, FXTM has built a colossal brand. It has over three million clients spanning 200 countries.
Their award-winning brand is well regulated and is another very well-trusted platform.
- IG Group
The IG group has been around for close to 5 decades. It is on the London stock exchange.
Their IG platform has over 180,000 clients most of whom are high-income traders.
If you happen to be in a high-income club, you get a personal account manager who helps you manage your portfolio. Setting up an account is easy and you can do it online.
One of IG’s part pieces is the ability to make withdrawals on demand. This is why it is very popular with high rollers.
- Vantage FX
Vantage FX started in 2009 to assist individuals to meet their financial goals. The platform’s MT4 and MT5 trading platforms provide access to the Forex market. It also keeps improving and evolving to the changing needs of the market.
Vantage FX promotes complete transparency as a core concept. The industry can appear confusing. Vantage FX works tirelessly to achieve clients’ trust by servicing them with integrity. Vantage FX clients are well aware that they are picky when it comes to quality. Clients have confidence in the company because it is thoroughly regulated and audited. Vantage FX makes it simple to open an account. Simply select the account you want to open and fill out the application. You will receive validation nearly instantly. You will be able to fund your account and begin trading right away.
- Final word
Remember that the forex trading platform you choose will determine how much you can invest. If you are a little short on money you need to use a platform with no minimum deposit requirements. Do your research and find out which platform is best suited to your needs.
Most importantly, do not rush into any financial decisions. Take your time and find your comfort zone. Forex trading when done correctly can be very rewarding but when done badly it can lead to financial ruin.
