Best Forex Trading Software

Forex is a short form of the foreign exchange market. It is also known as F.X. or off-exchange foreign currency market. Some of the people call it currency market or spot market, though these names are mostly used to refer to the financial centers where currencies are bought and sold like New York City, London, Tokyo.

While the forex market is similar to the stock market, it trades currencies rather than securities. Currencies are traded as pairs as they move in value against each other. In a pair, one currency is called the base currency, and another one is the quote currency. For example, EUR/USD means euro as base money and U.S. dollar as quote money.

In the forex market, trading is done 24 hours a day from Monday to Friday, except for North American and some Asian stock market holidays. It opens in Sydney at 5 pm Sunday evening and ends in New York at 4 pm Friday afternoon. Though there are many currencies traded in Forex, the U.S. dollar (USD) has the highest number of trades by far at around 43%. Then comes the euro (EUR), Japanese yen (JPY), British Pound (GBP). The remaining 57% currency pairs are called cross rates between each other like USD/CAD, USD/CHF, etc.

Best forex trading software

1. Tickmill

Best forex trading software picks the best platform for trading on brokerage. Tickmill is proprietary software of MetaQuotes Software Corp. It is incorporated in Seychelles and traded under ticker T.M. It is a fully owned subsidiary of German-based company Tradorax GmbH which was established in 2012. Tickmill is the only broker that provides offshore status as it is located in Seychelles, which offers one of the most business-friendly tax regimes and has an established track record as a global leader in online F.X. trading. Though it does not offer any type of demo account, its minimum deposit is just $100, and the maximum leverage ratio is up to 1:500. Also, it has the highest trading volumes in all major pairs like EUR/USD, GBP/JPY, etc. that, which helps its users to get better prices with tighter spreads.

2. Pepperstone

Introduce of Forex Pepperstone is an Australian proprietary ECN style forex broker who is headquartered in Sydney, Australia. Pepperstone is a subsidiary of an ASX-listed company called Tempus Resources. Pepperstone offers ECN prices with global tier-one banks as its liquidity providers, and it does not have any dealing desk mark-up or hidden charges. It has separate pricing for small accounts that helps traders to trade more aggressively at low spreads and high leverage. Pepperstone is one of the most popular brokers in Australia and European countries, and it has over 20,000 customers worldwide with around a 4% retail market share. It offers 24/5 trading in major forex pairs such as EUR/USD, GBP/USD, etc., and its minimum deposit is $250 for all types of accounts.

3. Dukascopy

introduce of forex Dukascopy Bank is a Swiss online Forex and CFD broker established in 1998. It provides ECN/STP brokerage services to its traders, and it has subsidiaries and representative offices in Switzerland, Japan, Ukraine, China, and Russia. Dukaskopy has the most number of currency pairs (over 120) than any other broker, which includes majors like EUR/USD, USD/JPY, etc.; crosses like GBP/EUR; commodities like Gold, Silver, etc. It offers low spreads from 0.5 pips on EUR/USD for non-Japanese accounts with one or more standard lots traded. Its minimum deposit is $100 for all types of accounts, including mini accounts, while the maximum leverage is 1:500 for standard and 1:1000 for micro-accounts. Dukascopy has dedicated mobile apps for Android and iOS smartphones to trade on the go and its customer service is available 24/5 in English, French and Russian languages.

4. City Index

introduce of forex City Index offer ECN execution with spreads as low as 0.3 pips on majors like EUR/USD, USD/JPY, etc.; crosses like GBP/EUR; commodities like Gold, Silver, etc. with tightest possible spreads than any U.K. broker. It also offers a low minimum deposit of just $50 while the maximum leverage ratio is up to 500:1 depending upon types of accounts such as a mini account with a minimum deposit of $500 that provides maximum leverage of up to 1:200; standard account with a minimum deposit of $1000 that offers maximum leverage up to 1:300 etc. City Index is one of the most popular brokers in Australia, Asia Pacific, and Canada since it has localized websites for these countries which makes it more accessible for its potential customers. It also provides 24/5 customer service in the English language via telephone or email ticket system.

5. X.M.

One of the best platforms for trading on brokerage XM is an online forex broker established in 1999; its headquarters are at 88 Wood Street London EC2V 7RS the United Kingdom, and the company registration number is 5830693 in England and Wales. X.M. was initially catering to international customers only, but in 2005 it became a global broker by providing its services to the United States and Canada. It is one of the best platforms for trading at low spreads on majors like GBP/USD, USD/JPY, etc.; crosses like EUR/GBP; commodities like Gold, Silver, etc.; indices like S&P 500, Nasdaq 100, etc. with tightest possible spreads than any other U.K. broker. X.M. also offers ECN execution with zero commissions on all types of trades, which makes it more competitive than others within the industry. Also, it has very high opening bonuses (up to $3000) that attract traders through advertisements into its fold.

6. FxPro

introduce of forex FxPro Forex Capital Markets Ltd is an online forex and CFD broker established in 1998. It provides ECN/STP brokerage services to its traders, offering a number of hand-picked assets from major global banks as liquidity providers. FxPro has been awarded several times by the industry associations such as International Financial Magazine for being The Best Forex & CFDs Broker in 2015. It also offers various types of accounts in order to cater to different types of traders, including Standard Account with a minimum deposit of $100, Pro Account with a minimum deposit of $25,000, etc. FxPro was one of the first brokers in the world to provide zero-commission trading, which made it more competitive within the industry. Moreover, it requires no fees or re-quotes on any of its trades and offers a number of trading assets, including majors like EUR/USD, USD/JPY, etc.; crosses like GBP/EUR; commodities like Gold, Silver, etc.

7. Oanda

introduce of Forex Oanda provides one-click execution via a web-based platform which makes it more competitive than others within the industry. It has been awarded as ‘Best F.X. Broker – Europe’ 2015 at the London Forex Award ceremony. In addition to low spreads from 0.8 pips on majors like GBP/USD, USD/JPY

Crosses like EUR/GBP commodities like Gold, Silver, etc., also offer the tightest possible spreads that are yet to be matched by any other broker within the industry. Oanda also requires no re-quotes or fees on any of its trades and offers high leverage ratios that vary from 1:1 to 1:500 depending upon types of accounts, the minimum deposit required for a Standard Account is $2000, whereas, for a mini account, it is just $100.

8. Axitrader

introduce of Forex AXITRADER was established in 2007. It is an online forex trading and CFDs brokerage company based at 41 Rue Guillaume Kroll, L-2520 Luxembourg, with operations around Europe, Australia, and the Asia Pacific. It provides ECN execution with tight spreads starting from 0 pips on major currency pairs like EUR/USD, GBP/USD, etc. It charges very low commissions of just 0.3 pips on all its trades, which makes it more attractive than other brokers within the industry. axitrader requires no re-quotes or fees for any of its trades and offers high leverage ratios that vary from 1:1000 to 1:3000 depending upon the type of account required by each trader. Moreover, it provides 24/5 customer service to traders throughout weekdays via telephone or email ticket system.

In conclusion, all these above-mentioned best forex trading software is at the top due to their services. All traders should consider their usage of them because they provide 24/7 hours for customer service where you can ask anything without hesitation. Additionally, they have good trading platforms that are easy to use, so everyone can easily understand them, especially if you are new to the trading world. So, these best forex trading software is recommended for all traders because they have great reviews from customers who have used them in the past.