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25 Best Forex Trading Platforms and Software – ( Reviewed ) 2022




25 Best Forex Trading Platforms and Software


The Forex Market offers individuals from around the globe an opportunity to trade currencies and it is by far world’s largest marketplace.  All a Forex traders will need to start trading on the forex market is an internet connection, capital, computing capabilities and importantly – a trading platform.  A trading platform is a software suite which gives traders the ability to access and interact with the market, an indispensable tool which makes both analysis and active trading possible.  A trading platform is the trader’s portal to the market.


A truly great trading platform will offer traders


  • Variety Of Assets Available For Trading
  • Customisable User Interface And Seamless Trading
  • User-Friendly
  • Market Order/Entry Order Capability
  • Charting Capability
  • Analysis


Most trading platforms will be available for installation and use online with desktop computer systems but traders may want to verify whether a trading platform is available for use on mobile devices. Mobile Device compatibility will allow users to trade more freely and away from the confines of a desk or office setting.  Another important feature is the ability to give alerts. Some trading platforms will allow traders to pre-program alerts for prices, market conditions or margin levels which will send signals to the trader when they may want to enter or exit trades, or replenish their trading accounts.

Here is an overview of the 25 Best Forex Trading Platforms and Software available on the market to date.



MetaTrader 4

MetaTrader 4, also known as MT 4, is one of the most popular and widely used trading Platforms available on the market to date. MetaTrader 4 is a multilingual trading platform where users can benefit from trading signals and expert advisors plus, traders can make the most out of advanced technical analysis, algorithmic trading, flexible trading systems and much more.  MetaTrader 4 is also available for iOS and Android capable devices.



MetaTrader 5

MetaTrader 5 stands out as a multifunctional and easy-to-use brokerage platform, suitable to both professional forex traders and beginner investors. MetaTrader 5 offers complete solutions including the full use of various tools and trading possibilities, including automated trading systems, copy trading, and technical analysis tools, to name but a few.  MetaTrader 5 is also for iOS and Android capable devices.




E-Trade was established in the early 80s and is best known for the premium experience provided.  E-Trade offers trader a multitude of useful tools and investors will not only benefit from zero-commission trades, but a full range of investments are also on offer. Traders who opt to join the E-Trade community will have their accounts managed professionally. The variety of the tools include risk analysis tools, charting tools and advanced intraday and historical charting, amongst others.  E-Trade is available for both online and mobile trading at all times.




cTrader is a multi-asset trading platform which allows users to trade Forex as well as other CFDs with high-speed execution.  cTrader only functions as an ECN (Electronic Communication Network) platform and will only connect traders directly to the global Forex market.  What this means is that cTrader will not permit any dealing desk intervention, automated or otherwise.  cTrader offers a fully customisable layout and traders can pick a chart-only layout or the default option which includes analysis and trading news.


The charts on offer are also customisable and allows traders to display different charts side-by-side, or toggle between them. For users who tend to trade with a certain set of currencies, the platform allows them to create a “favourites” window with easy access to their most-traded currency pairs.




NinjaTrader is a resource rich trading platform focused on both futures and forexNinjaTrader includes 100+ technical indicators out of the box, automated trading options and a special community of resources available in order to explore indicators and strategies built by 3rd party developers.  These range from automated strategies for order executions, education and training as well as 100s of indicators, signals and strategies to personalize the platform.   NinjaTrader provides traders with unlimited free access to real-time and historical forex market data without a brokerage account.




For those who are interested in trying out algorithmic trading  can do so by using either TD Ameritrade or Interactive BrokersThinkorswim operates under the parent company TD Ameritrade, and is perfect for those interested in trading stocks, options, futures and forexas they can comfortably keep all of their trades together under one concise account.


Thinkorswim’s customizable and automated trading platform has received critical acclaim even though this is not a platform suitable to beginning traders, regardless of whether they are focussed on forex or other commodities. Thinkorswim carries a hefty US Dollar 3,500 minimum depositThinkorswim offers a range of mobile trading options, available on all Apple phones, tablets and watches, as well as Android smartphones and tablets.




Tradespoon makes it easy for their clients to be immersed in profitable trading opportunities by combining one-on-one education through tutoring and online resources. The Tradespoon platform is suitable to all levels of traders who can use it to stay-up-to-date with stock prices and receive top stock intelligence. Tradespoon also offers users a video trading vault which allows users to learn while they trade.




Zulu-Trade is a trading platform which allows traders to earn by both investing in other traders and in through independent trading. The terminal has an accessible interface and the official site provides a detailed guide. The official site also offers instructions for attaching a trading account to the platform. Zulu-Trade is an independent organization which cooperates with multiple reliable brokers.  A Zulu-Trade demo mode, which displays the true capabilities of the platform, is also made available.



Mirror Trader

The key task of the Mirror Trader platform is to monitor the transactions of successful traders with the possibility of automatic and semi-automatic trading. The trader can in turn decide which transactions to follow.




The ATAS platform, which comes at the price of 69 EUR, is as a terminal for professional trading.

For  the amount paid, traders will receive complete information on trading volumes on the futures market.




The SB-Pro terminal is a full-fledged, independent equivalent of the previously reviewed ATAS platform. The only difference between the two is the cost of use and the full version can be acquired for 100 USD.  SB-Pro is used by traders as an analytical tool.




Rumus is a unique trading and analytical platform with main advantages including:


  • The possibility of developing unique indicators
  • Access to unique custom indicators and oscillators
  • Multiple types of display charts
  • Integrated monitoring of significant macroeconomic events




Jforex is a trading platform which was developed by specialists of Dukascopy Bank SA, provided for trading in financial instruments by bank customers.  The use of the terminal is available via the official website after authorization, and is available to install on a PC and the software is compatible to the most popular operating systems.  Unfortunately, the terminal includes a limited choice of financial instruments, and requires a high starting deposit. The minimum amount for opening an account is 1000 USD.




The Iress platform offers users a competitive selection if they can obtain it, while the overall choice in MT4/MT5 remains sub-standard. New traders can make contact with customer support in order to ensure the availability of the Iress platform and avoid confusion and disappointment during the registration process.




MetaTrader is a trading platform created for the financial markets – Forex, Stocks, Futures and CFDs. MetaTrader offers investors  superior technical and fundamental tools, the use of automated trading systems or trading robots and copy tradingFinancial market trading is available on Desktop, Mobile (iOS and Android) and Web.


A Wide variety of functions include:

– Full set of trading orders
– Two position accounting systems
– Unlimited amount of charts with 21 timeframes and one-minute history of quotes
Technical analysis with over 80 built-in technical indicators/analytical tools
– Fundamental analysis based on financial news and economic calendar
– Powerful algorithmic trading with the built-in MQL5 development environment
– Ready-to-use trading applications at MetaTrader Market
Trading Signals to automatically copy deals of experienced traders
– A system of alerts




Protrader as a multi-asset trading platform which can be used by banks, brokerages and hedge-funds for retail businesses. Protrader suitable for end users such as day traders, scalpers and algorithmic traders and enables users to customize the platform easily to align with any business model.


Users can benefit from:

Multi-account management (MAM)
Fund management module
– Real time risk management
– Flexible revenue model
– Sales/account management
– SOAP API for integration with Internal CRM system website
– Comprehensive reporting
– Integration with more than 40 Liquidity Providers (ECNs, Brokers, Exchanges and Banks).



eToro Platform

eToro’s web platform is very user friendly and especially suited for beginner traders. The Platform has a unique integrated social component plus advice and trading opportunities available, including a watchlist which shows detailed graphs for any currency.



IG Markets Webtrader

IG Market’s web platform is one of the best broker-operated platforms available and not only offers a clean design and easy accessibility, but research tools, monitoring tools, complex order management and advanced charts are all included.


Other main features include:


  • Simple functionality to open, close and edit individual and aggregate positions,
  • Chart customisation
  • Risk management tools
  • Custom indicators
  • Access to data and news feeds



EasyMarkets platform

EasyMarkets were one of the first brokers to develop their own trading platform and most of the Brokers trading tools are only available through the easyMarkets platform. Feature highlights include :  dealCancellation and Freeze Rate.




Marketsx is a trading platform by Markets.com which offers traders fast, low-cost trading on over 2,200 financial instruments. Marketsx provides CFD trading on stock, Forex, commodity, indices, cryptocurrency, ETF and bond markets plus in-depth charting and asset comparison tools.




AvaTradeAct, exclusive to Avatrade, is a forex and CFD trading platform which gives traders all tools needed to trade forex and CFD instruments – including commodities, stocks and indices accross desktop, tablet or mobile phone.  The platform is user-friendly, feature-packed and highly customisable. AvaTradeAct allows traders to place a full range of orders, stops and limits, and utilise comprehensive analytical tools, trade alerts and automated trading routines.


Traders can:


  • Trade 200+ financial instruments at low fixed spreads
  • Make bigger trades with leverage of up to 200:1
  • Utilise a comprehensive range of orders, alerts & charting tools
  • Always be ready to trade with web-based, tablet and mobile apps
  • Get live support



QuantConnect is suited to traders who work in the development industry or is comfortable with writing and editing code. It provides a comprehensive integrated developing environment (IDE) designed by algo traders for algo traders and the platform is built on the Lean Algorithmic Trading Engine, an open-source cloud-based trading platform designed in C#.



Interactive Brokers

Interactive Brokers offers a similar range of currency pairs as Thinkorswim which was mentioned earlier, with more than 100 to choose from. IB’s Scale Trader is a fully-automated trading algorithm which is used for enhancing performance in scale trading on the IB platform. The platform  can be easily used by forex trades but it is also applicable to stocks, futures and much moreInteractive Brokers offers users a handful of different customizable automated trading systems to support the particular type of trades made.




The eSignal trading platform is best suited to advanced traders, with fully customisable features. Aside from the standard features expected, users can also create their own trading strategies or market screeners through the coding language.  eSignal offers users advanced drawing tools, including time/price squares and Gann boxes, and the ability to view up to 500 symbols at a single time.




The ProRealTime trading platform is a technical analysis software web-based platform which is backed up on the company’s cloud network. The platform itself offers traders a wide range of advanced charting and analytical tools, as well as the ability to create customised market scanners and trading strategies using their ProRealCode language.



In Conclusion 

There is an increasing number of sophisticated trading platforms which offers traders numerous features and diverse markets. Some Forex Brokers will often allow traders to test their trading platforms before putting them to use on live accountsTraders should look at ease of use, seamless moving between assets and accounts, and readily accessible customer support. These factors will help assure that the platform will serve in favour of successful trading and not against it.


Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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