Broker Hub Explore & Match A Broker With Different Ways To Trade Help- Use this tool to generate a list of brokers with selected highlighted features and then browse to find a broker to trade with.
- For example, selecting 'MT4 Brokers' will show a list of brokers with the MetaTrader 4 platform. Then selecting 'Cent Account' will show a list of brokers with MT4 and Cent Accounts, and so on. If there are no matches and to restart, reset by selecting 'All'.
- A brief description of each feature - - is provided for matching the generated brokers with the type of trading which may be supported and exploring possibilities.
- Features marked bring up all brokers and scroll to the broker with the feature. Toggle between a short and a longer broker description with the Platform Features button on the pad. on the pad scrolls back to the top.
- Choosing on the pad brings up a grid of the selected brokers for online trading platforms and features comparison, while brings back a list to browse.
- Brokers, features and platforms may not be available in some regions and are subject to change. See each broker's website for availability and full terms and conditions.
Choose features and platforms to narrow it down or reset with 'ALL' Select Features
- Practicing Trading: Demo Account
- Low Minimum Trade Sizes: Cent Account
- Social And Copy Trading: Copy Trading, ZuluTrade
- Weekend Trading: 24/7 Trading
Different trading platforms offer different functionality and support different ways to trade. Some brokers focus on a user friendly interface designed for the trader who plans and executes their own trades.
Plus500 offers a platform which is arguably intuitive to use. However it still provides a relatively wide range of technical indicators (used for technical analysis) and supports fundamental analysis by providing information about news affecting particular markets, directly on the platform (to supplement the use of an Economic Calendar). Plus500 offers a relatively wide range of CFD markets to trade, from Commodities (Hard, Soft and Agricultural) to Indices to Stocks to Forex and other markets. The trader can sign up and test out the platform on a demo, before depositing the minimum deposit of $100. The trader can then switch between live and demo accounts, to take a break and practice trading.
Web Trader, Downloaded Platform, , $100 Minimum Deposit
Plus500:MetaTrader offers the trader the capacity to plan and execute their own trades, as well as supporting the use of robots, which the trader can also build. MetaTrader 5 (MT5) is the successor platform to MetaTrader 4 (MT4) and has a number of enhancements including more platform tools.
XM provides 1000+ markets to trade on MT5 and also offers MT4. Traders can use either platform when they have signed up with XM. XM allows a wide range of trading styles and supports EAs. EAs (Expert Advisors) are MetaTrader's online trading robots, which can be used or built by the trader to execute trades on their behalf. XM has a very low minimum deposit of $5 and offers a cent account which has very low minimum trade sizes.
MT4, MT5, , $5 Minimum Deposit
XM:No dealing desk brokers typically support a wide range of trading styles, from automated trading to scalping to news trading.
Pepperstone offers 180+ markets to trade on MT4, MT5 and cTrader, with no dealing desk order execution. A wide range of trading styles are supported. Traders can news trade, use and program EAs (MetaTrader's robots) and cBots (cBots are cTrader's robots). Traders can take advantage of high speed order execution and tight low spreads when running their strategies. Spreads are offered from 0 plus a commission charge and 1 without a commission charge.
MT4, MT5, cTrader, , $200 Minimum Deposit
Pepperstone:Social and copy trading are a type of trading where the trader does not have to trade alone, but can access the views of others and share information online. This may suit a wide range of traders, from beginners who want to see the views of more experienced traders or copy their trades, to advanced traders who want to have their trades copied.
eToro is a well known name in the social and copy trading space, offering a user friendly platform with a wide range of markets to trade (1000+), which integrates a range of social and copy trading tools. For traders who want to use their own analysis, there are platforms tools such as technical indicators. Traders can copy the trades of other traders, or be copied.
Web Trader, , $200 Minimum Deposit
eToro:
How to Find a Broker for Forex Trading
Finding a broker to trade Forex or any market is a key but not necessarily simple task. As this website sees it, a primary factor is finding a broker where the trader can trade how they trade or want to trade.
This becomes more complicated for the beginner trader, as they do not necessarily (or probably) know how they will trade. However focusing on the Forex market simplifies things to some extent, as the nature of the Forex market can provide a guide in and of itself. Each comparison table on this site is followed by an article based on the theme of the page and provides information for example about Forex trading. Thus the trader can at least have some idea what they are getting into and why they might choose a broker on the page. The trader can try and gauge whether these kinds of brokers are suitable for how they will trade. In the Broker Hub at the top of the page, features may be selected and a broker found this way, and when a particular feature is selected there is a short description of how this feature relates to trading.
To give an example, a Forex trader may not want to use robots to trade on their behalf and may rather trade using short to longer term strategies. In this case, they may want to use a platform which is user friendly for the human trader. In general these kinds of platforms do not support automated trading with robots (but may in some cases support what is termed auto-trading or copy trading, that is copying the trades of other traders). So user friendly can go hand in hand with a type of trading which is focused on charting analysis and fundamental analysis. Some platforms may be more user friendly than others and some may have different kinds of tools in addition to the core functionality of the chart, indicators, time frames and graphical objects.
This may be sufficient and in and of itself narrows down a choice. However the trader may want to have the capacity to automate their trades. Thus they may want a platform which can run robots. Some brokers do actually provide a range of platforms which can include a user friendly platform and the capacity to run robots. So having worked out to the extent this is possible how they want to trade, choosing a broker then becomes a matter of deciding such factors as minimum deposit and account features such as minimum trade sizes and where they are regulated.
Choices based on types of trading tends to highlight features. To give another example those who are focused on short term or automated trading might tend to gravitate towards brokers which offer what can be termed ECN trading, as they can offer infrastructure to support this kind of trading such as rapid order processing, low spreads (plus a commission charge) and trading platforms with automated trading, though a broker does not need to be this type of broker to support automated trading.
In essence this website aims to a provide a comparative perspective from broker to trading. This is centered around online trading platforms, as these are the tools the trader will use to trade and thus the trading platform can be important in the type of trading the trader will or wants to do. The trader though can do more than compare brokers in terms of platforms and account features (for example in the following table or broker vs broker) they can also get a sense of different types of trading which may be supported to a greater or lesser extent at different brokers and discover more about trading and how they may want to trade.
| Online Broker | Trading Account Minimum Deposit | Online Trading Platforms | Notable Platform, Account Or Broker Feature |
|---|---|---|---|
| City Index | None | MT4, Web Trader, Advantage Web, AT Pro | 4,500+ Global Shares CFDs To Trade |
| Pepperstone | $200 | MT4, MT5, cTrader | Expert Advisors (EAs) & News Trading |
| Plus500 | $100 | Web Trader & Apps | Wide Range Of Markets |
| FOREX.com | $50 | MT4, Web Trader, Advanced Platform | MT4 EAs & User Friendly Web Trader |
| AvaTrade | $100 | Web Trader, MT4, MT5, AvaOptions | FX Options Trading |
| Trading 212 | $29 | Web Trader & Apps | Switch Between Demo & Live Account |
| eToro | $200 | Web Trader & Apps | Trading With Social & Copy Trading Tools |
| IronFX | $100 | MT4 | MT4 Stocks CFD Trading |
| XM | $5 | MT4, MT5 | MT5 Stocks CFD Trading |
| FXPRIMUS | $100 | MT4 | MT4 Trader Tools For All Clients |
| ThinkMarkets | None | MT4, MT5, ThinkTrader | 0 Pip Spread Forex Broker |
| RoboMarkets | $100 | MT4, MT5, R Trader | R Trader: Run Robots On the Cloud |
| Dukascopy | $100 | MT4, JForex | SWFX Marketplace ECN Via JForex & MT4 |
| Markets.com | $100 | MT4, MT5, Web Trader & Apps | Fixed Spreads on MT4, MT5 & Web Trader |
| HYCM | $100 | MT4, MT5 | EAs With $4 Round Trip Commission |
| FXTM | $10 | MT4, MT5 | MetaTrader Cent Accounts |
| easyMarkets | $100 | MT4, Web Trader & Apps | MT4 Fixed Spreads From 0.9 |
| IQ Option | $10 | Trading Platform & Apps | Low Minimum Deposit Broker |
| FXCC | $100 | MT4 | ECN XL Account With No Commission Charge |
| AAAFx | $300 | MT4, ZTP Web Trader | Trading with EAs and ZuluScripts |
| FXGiants | $100 | MT4 | Micro, Premium & STP/ECN Accounts |
| NSFX | $300 | MT4, JForex | Fixed Spread MT4 Account |
| FXOpen | $300 | MT4, MT5 | MT4 & MT5 |
| Vantage FX | $200 | MT4, MT5 | Spreads From 0 Plus Commission |
| RoboForex | $10 | MT4, MT5, cTrader, R Trader | Wide Range Of Trading Platforms |
| IC Markets | $200 | MT4, MT5, cTrader | 230+ Markets To Trade |
| USGFX | $100 | MT4, MT5 | MT4 & MT5 Trading |
| BlackBull | $200 | MT4 | Forex Spreads From 0 Plus Commission |
| Titan FX | $200 | MT4, MT5 | No Dealing Desk Broker |
| Online Trading Platform | A Key Feature | Notable Platform or Account Feature |
|---|---|---|
| ZuluTrade | ZTP: Social & Copy Trading Platform | Connect 50+ Brokers To ZuluTrade |
Compare different online trading platforms and account features
Trading platforms can matter, as they are the interface traders use to trade and thus their scope is also the potential scope of the trader. Some platforms have the capacity for automated trading (e.g. MT4, MT5, JForex, R Trader and cTrader), others do not. Traders may not wish to use robots, and prefer to make their own trading decisions. Brokers may expressly cater to this, by offering user friendly, intuitive web trading platforms, which make the trading process as straightforward for the human trader as is possible, but all the platforms in the table can be used for non-automated trading. While some desktop platforms may not have a mobile app, brokers typically offer apps, perhaps based on a web trader or a mobile version of a platform such as MT4.
Robots have different requirements from a human trader, though they may be executing rules a trader uses (also known as algorithms). For automated trading strategies which robots execute on behalf of the trader, factors such as dealing desk intervention and speed of execution may be important (i.e. can the robots execute strategies as efficiently as possible). No dealing desk brokers may provide this kind of account infrastructure but market maker brokers may also support automated trading, as well as providing accounts and platforms for traders who make their own trading decisions.
Another kind of automation is copy trading and some brokers offer this capacity. Depending on the broker, social or crowd trading information might be included on the trading platform. The broker may offer a range of tools to assist with analysis or to provide additional functionality not included on the platform (e.g. robots or copy trading). There are third party platforms (like ZuluTrade or DupliTrade) which can be connected to a broker allowing the trader to use the platform's social and copy trading functionality. Some brokers may allow the trader to connect third party platforms which support the use of robots.
The trader trades on the platform though an account. To trade on a platform with a live trading account the trader may open a live account with the broker. Accounts can come in different formats, for example a broker may offer ECN accounts (typically with a commission charge) or a broker may provide a Cent account which lets the trader use small trade sizes. To practice trading and to become familiar with an online trading platform, the trader can use a demo account. Some brokers offer live accounts with minimum deposits higher than the standard account. These may provide extra features or be tailored for higher volume traders, depending on the type of broker.
The markets to trade offered can vary from broker to broker. No dealing desk brokers typically provide smaller or in some cases intermediate numbers of markets to trade (i.e. less than 100 up to several hundreds). Some brokers offer a larger number of markets to trade, in the thousands, the bulk of which will be Stocks (as there are many Stocks out there, compared with other markets). In general the brokers in the table are providing markets to trade not own (e.g. Stocks CFDs) only, however at some brokers it is also possible to find markets such as Stocks to own.
The trader may find it helpful to compare brokers by themes to match the kind of trader they are and the kind of trading they may wish to do.
Choosing A Broker From Beginner Trader To More Advanced
Choosing A Broker By Online Trading Platform
Best Way To Learn Forex Trading
Is there a best way to learn Forex trading ? There arguably is a better approach or way to doing so. To consider why, one can look at what the essentials are to learn Forex trading. The trader needs to choose a broker to trade with. This is what this site aims to help with. However as the site notes, the kind of broker which the trader may want depends to some extent on the way they will trade. So the beginner may want to choose a broker which has a user friendly platform to practice trading and start their trading from a demo account to work out how they want to trade. Thus the trader may wish to consider a platform which lets them switch from demo to live and back again. Brokers typically let the trader test out the platform as a demo before completing registration.
A user friendly platform will tend to support trading where the trader makes their own trading decisions. For a beginner this can be a good idea, rather than using a robot to trade, which can be helpful when the trader understands trading and wants a robot to trade on their behalf. Otherwise the trader is using a robot as a kind of black box and may find it hard to understand what the results of the trade really mean. An alternative is to use a platform with social trading and let the views and actions of experienced traders be a guide. Some may wish to start by letting experienced traders trade on their behalf via copy trading.
However since the trader is looking for the best way to start trading, then really if they are interested in learning how to trade they could start by doing their own analysis and making their own trading decisions. This analysis can include social trading but should also include technical and fundamental analysis. This kind of analysis is what humans and robots are doing in the market, to provide a way to enter, manage and exit a trade. But since the trader may lack experience they can start on the demo and try and spend some time with it however much they may wish to try a live account.
Before, during and after opening an account the trader can learn trading via webinars, courses and reading books. For example books on technical analysis, candlestick analysis and technical indicators. Technical analysis is a core part of Forex analysis and is used extensively across the market. On the demo account the trader can pick a market to trade, choose a representation for the change in value on the chart (for example candlestick charts) then pick a technical indicator having worked out what its signals are and how to use it.
The trader can take a position in the market, noting that they may be trading on a live account with considerably less capital compared with the virtual funds in the demo account. This may matter as the account capital can determine the position size, or at least a comfortable range to trade with. On the live account the trader may wish to consider starting with very small trade sizes, for example trading on a Cent account. Smaller trade sizes can reduce the the value of each move of a Forex pair (in pips) taking a smaller amount of the account if the move goes against the traded position, which is to be expected as the Forex market moves normally in retracements intermixed with volatility and occasional strong directional moves (e.g. in a news trade).
The trader may wish to test out trend lines and other graphical tools and see how the market may and may not respect them (and indicator signals). The trader can note the way the market may retrace and part of learning to trade is to know when this retracement invalidates a trade and when to stick with it. Some traders bypass this by letting robots trade on their behalf, but the beginner trader may wish to work this out for themselves. Various methods can be used, including simply triggering a sensibly set stop-loss. Stop-losses are important as they can help manage risk and they can be set with a rationale based at least partly on the market (for example on past retracements), otherwise the trader may set them too far or too close resulting in the stop-loss being triggered by retracements which actually work out to allow a successful trade. The very fact that a market can recover and then do what the trader expected is a core part of trading as well as is the fact that the opposite can happen. Forex is a complex market and retracement can turn into reversals.
The trader may wish to analyse the market at various time frames, to get a sense of what is happening at time frames different from the one they they are trading on and why this might be affecting pattern formation at other time frames. Which time frame to trade on depends to some extent on the duration of the trade, but the trader may wish to consider entering on 1 or 5 minutes and managing it on a higher time frame depending on the time frame for the trade. The trader can filter trades with or simply trade on patterns and can take note of value levels and see how they may interact with pattern formation. Patterns can encompass trends and ranges, and can be part of these as well. A trend can evidence a pattern in and of itself as can range formation. Trends can and do have retracements as part of their beginning, middle and end, thus the trader may wish to examine and trade trends to see how this can happen. Thus arguably a sensible way to learn Forex trading is to gain theoretical knowledge, for example by reading books, then opening a trading account and practising ideas on a demo and then carefully scaling their trading on a live account.
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| Online Trading Platform | What It Does |
|---|---|
| User Friendly Web Traders Online Trading Platform | User Friendly Web Traders which support those who plan and execute their own trades are offered by a number of brokers What It Does |
| Plus500 Platform Online Trading Platform | Plus500's platform is an intuitive platform designed for the trader who plans and executes their own trades, available from desktop to a watch app What It Does |
| MT4 Online Trading Platform | MetaTrader 4 supports the trader who makes their own trading decisions but is perhaps know better as a platform for traders who use online trading robot to trade on their behalf executing algorithms, but as well as coding robots the trader can also build technical indicators in MQL4 What It Does |
| MT5 Online Trading Platform | MetaTrader 5 is the successor to MT4 and has similarities with MT4 but also offers enhancements on its predecessor including a different language for coding robots and indicators (MQL5) What It Does |
| JForex Online Trading Platform | JForex offers support for traders who make their own trading decisions and those who plan and execute their own trades, with a particularly large number of technical indicators on the platform What It Does |
| cTrader Online Trading Platform | cTrader is a platform which aims to package complexity in a user friendly framework and it has advanced features including the capacity to build and use robots What It Does |
| eToro Platform Online Trading Platform | eToro's platform is a user friendly online trading platform for the trader who plans and implements their own trades but it integrates social and copy trading into this platform, thus supporting those who want to copy other traders and make use of social commentary in their own trade planning What It Does |
| Advanced Trading Platform Online Trading Platform | FOREX.com's Advanced Trading Platform has developed over the years and is aimed at those who plan and implement their own trades, with the capacity to use and build charting signals What It Does |
| Deriv Online Trading Platform | The Deriv platform is a user friendly suite of trading platform including MT5 (desktop download, web trader and mobile) with different ways to trade and supporting 24/7 trading What It Does |
| IQ Option Platform Online Trading Platform | IQ Option's platform is a user friendly trading platform which supports those who plan and execute their own trades, in particular it offers a Forex Calendar on the platform for those who use fundamental approaches and for all traders who want to see what news is happening and how it might affect a trade What It Does |
