Do you want to start a career as a trader in the Forex market? Yes, you’re coming to the absolutely right site. Here I will tell you the top 5 Forex Trading Online Platforms where you can easily do your trading and earn lots of money. Nowadays, trading is a very popular way to earn passive income. The world economy is now largely dependent on the stock market and trading. So, trading can be a very good career option for you. Before the start of the main topic, first, you need to know about Forex Trading.
The Forex Market means “Foreign Exchange Market ” which is called ” FX Market ” and ” Currency Market“. Forex is an online market where foreign currency is traded or exchanged. This market is traded worldwide, where the currencies of one country to another country are exchanged. It is the world’s most traded market with a turnover of around $5.1 trillion every day. Foreign exchange is a process where one country’s currency is exchanged for another country’s currency. These currency swaps are done for a variety of reasons. For example, commerce, trading, tourism, etc. So I hope you have understood the topic “What is Forex Trading“.
Forex trading is traded around the world 24 hours a day and five days a week from Monday to Friday. You can trade forex any day of the week, any time, and anywhere. You can do Forex trading with your own analysis as per your wish.
How Risky Is Forex Trading?
It’s 100% risky if you trade blindly. Remember, when you engage in forex trading, it means that you are trading currency pairs. This currency goes up or down like the stock market. It can be risky if you are unsure about what you are buying and selling. For forex trading, you need to know fundamentals, technicals, and market sentiment. If you are new to the forex market, then you should first learn about the forex market.
Top 5 Forex Trading Online Platforms
Top 5 Forex Trading Online Platforms
Now I will tell you about the top 5 Forex Trading Online Platforms on which you can do forex trading without any glitches or technical issues. In this article, I will mention some of the best platforms that provide the best services to their customers for forex trading.
Forex.com is the best online forex trading platform. It was founded in 1999 by the GAIN Capital Company. Forex.com is registered with the National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC), The Financial Conduct Authority (FCA, U.K), The Investment Industry Regulatory Organization of Canada (IIROC), The Australian Securities and Investments Commission (ASIC), The Financial Services Authority (FSA) and Chartered Institute of Management Accountants (CIMA).
Forex.com offers their customers Forex, CFD, and cryptos. They have provided the best services to customers for a long time. I personally recommend it to our readers. If you want to start your trading journey, then you can try to use this platform.
(A) It’s a very good and user-friendly interface.
(B) They provide various educational and research tools.
(C) Here is the leverage available 50:1 ratio.
(A) They charged high stock CFD fees.
(B) There is a high initial deposit which starts at $1,000.
Saxo Bank is another worldwide popular online forex trading platform that was founded in 1992. Their main products are investment banking, online Forex trading, etc. This platform gives fully customer-satisfied service. They have received several awards for their successful service over the decades. Their key instruments are Forex, CFDs, stocks, ETFs, futures, bonds, Forex options, etc.
I hope you know about the Saxo Bank online forex trading platform. Now I will discuss a few PROS and CONS of Saxo Bank.
(A) Saxo Bank offers its platform to all of its clients globally.
(B) There is no deposit or withdrawal fee.
(A) The minimum initial deposit amount is so high. It is $2000.
Pocket Option is another legitimate binary trading platform that is regulated by IFMRRC. The Pocket option provides a demo account to their customers and the minimum deposit in this platform is $50. Their services are very easy to use and a well-decorated site for beginners. It’s a fully reliable broking platform with positive customer reviews and ratings with secure deposit and withdrawal.
(A) Pocket Option is a well-regulated platform for traders.
(B) It’s licensed from IFMRRC.
(C) They provide professional live chat support.
(A) Minimum withdrawal starts at $10.
(B) They don’t offer complex charts and tools for advanced traders.
Forex4you began operating as a broker in 2007. In the Forex market, the company offers a comprehensive array of active and passive trading services. Under the license SIBA/L/12/1027 issued by the British Virgin Islands Financial Services Commission, the company conducts business there. Forex4you is devoted to professionalism and responsibility for its customers. Le Fonti claims that the company earned the highest honor possible in 2018 – -“Best Broker”–and that it has previously continuously won and been nominated for prizes like “Forex Broker of the Year ” and” Best Service Quality.”
(A) Forex4you offers 150+ currency pairs.
(B) There is custom service support 24×7 With an immediate email response service.
(A) This platform is not available in a few countries.
(B) They provide limited trading instruments.
RoboForex is a brokerage company that was founded in 2009. It gives offerings to monetary markets in 169 countries. More than 3.5 million customers are RoboForex clients. RoboForex is the main software program developer withinside the Forex market industry.
RoboForex is diagnosed as a dependable associate by the most reputable monetary marketplace experts. The employer has won several prestigious awards. The RoboForex institution of corporations has a global license to offer offerings from FSC Belize, and a European license from CySEC (license No. is 191/13 Robomarkets Ltd).
(A) RoboForex gives you high leverage.
(B) They provide a bonus & affiliate program with instant withdrawals.
(A) They offer to select limited Cryptocurrencies.
(B) US customers are not acceptable to use this platform.
(C) You can’t do online transactions via PayPal on this platform.
After all, you can take Forex trading as a career or as a second source of income. Hope you have learned detailed information about the top 10 online forex trading platforms from this article. So I recommend you to do trade after gaining proper knowledge and education about the forex market.