When forex trading, you want to use a platform and broker that is trustworthy. The last thing you need is for the company to get audited and fall under because they didn’t follow regulations.
Forex trading has specific regulations to follow that help protect the trader and their investment. An example of a non regulated broker and trading platform would be Hugosway broker. Basically, it’s unsafe to put your money in for trading and should be avoided. As opposed to platforms that are used for stock trading, Forex platforms only trade with FIAT currency pairs like USD/EUR.
Rather than learning the hard way which trading platform you should use, we did the work for you. We have a list of the top five forex trading platforms that are perfect for beginners.
Being one of the biggest forex brokers available, Alpari started back in 1998 by three partners in Russia. It has over one million clients from 150 countries around the world. Alpari has kept up with the evolution of our world and offers various services for any modern forex trader.
Due to Alpari following all compliances and holding multiple regulatory licenses, this international company has proved to be a transparent and trustworthy forex platform over the years.
What makes it excellent for beginners is it requires no minimum deposit. You have access to a demo account to test things out before joining, and it has multiple options to help minimize the risk of trading.
- Go Markets
Up next is Go Markets, which started in 2006. This company prides itself on being compliant, having competitive spreads, and various technological developments. Go Markets main headquarters is in Australia, but does hold offices in other places, including the UK.
Go Markets is a safe platform to trade with as it is authorized under the Australian Financial Services License. With its customer support and providing challenges to be a successful trader, Go Markets is another top forex trading platform choice.
- FP Markets
Established in 2005, FP Markets is an Australian-based trading company that serves thousands of clients worldwide. The popular trading platform is licensed and follows all trading regulations.
What makes FP Markets an excellent choice for beginners is how it connects the trader to the market without dealer intervention, giving the trader the best rice possible. Their electronic bridges and enhanced DMA pricing models are their secret weapons.
One of the newest companies on the list, XM broker started in 2009 and operates in just under 200 countries worldwide. It is regulated and follows enhanced regulatory standards. Each jurisdiction XM operates in has its rules to follow, and XM keeps up with them.
XM provides a variety of trading opportunities as it expands into different regions. It also offers various support options, including research material and webinars, making this an excellent beginner’s platform.
- IC Markets
Rounding up the top five is IC Markets. Starting in 2007 in Australia, IC Markets is a competitive and regulated trading platform recognized globally. What makes it unique is that IC Markets works to provide a bridge between retail and institutional clients. It also offers its users a wide range of forex trading knowledge and experience to help you grow.
That wraps up our top five list of forex trading platforms. Other platforms worth looking into include BDSwiss, FXCM, and Axiory.
By sticking with one of the platforms on our list above, you can trade freely on a regulated and compliant platform.