Forex trading is an exclusively digital venue that offers people from around the globe an opportunity to trade commodities, futures, and currencies remotely through the internet. It is by far the largest marketplace moving trillions of dollars in a day. The favorable market conditions, as well as low entry barriers, have contributed to its widespread adoption. To begin trading all a user may need is an internet connection, trading capital, your skills, and a good trading platform. Having a good trading platform is perhaps the most important input you will need for any meaningful trading. A trading platform is a software suite that allows a trader to access and interact with the market. This indispensable tool will come with different currencies to trade, a variety of indicators as well as tools for detailed analysis. Before deciding which platform is best for you, let us discuss a few most commonly used trading platforms, for information on the best online brokers please have a look at the related articles.
The MT4 (Metatrader 4):
MT4 is often seen as the industry standard, it has one of the largest user bases around the world. Besides being easy to install and use, the platform comes with a number of capabilities that other platforms lack. With the MT4, you can download the app, access it through the web or use its mobile application. It also comes with a variety of expert advisors and capabilities to support social trading.
The C-trader:
The c-trader is another common FX platform that allows you to access the full depth of the market. Moreover, this platform will enable you to access volume information of each instrument. If you are seeking a market execution with a higher level of market resolution, c-trader is a good option.
Ninja trader:
This platform is very popular among equities, futures and forex traders. With its advanced analytics, this platform features a comprehensive suite with one of the best user experiences. Its user base of more than 40,000 users enjoys the top-tier support and customer service from the Ninja Trader community.
Zulu trader:
As a pioneer in the social trading arena, Zulu trader offers not only access to the FX market but also the ability to copy trades from an array of great traders. If you are a newbie, or you don’t have enough time to trade, but you still want to make an extra income in Forex, Zulu Trader would be a perfect choice for you.
The Mt5 (Metatrader 5):
Continuing its predecessor’s (MT4) legacy, the MT5 is a powerful and user-friendly platform that has won several awards. The MT5 makes it easy to analyze the market, place orders and at the same time efficiently manage one’s exposure with ease.
Which platform is best for you?
Selecting an excellent platform that fits one’s trading strategy and objectives is the first step towards successful trading. The big question remains, which is the best trading platform? I would term the question as very subjective, and the answer given will vary from one person to the other. Each of the above software has got a unique feature that set them above the others. Deciding the best platform is more of a personal question that should be guided by what an individual is looking for in a platform e.g. Best for day trading forex. Here is a short breakdown of the excelling points of the different Platforms.
| Platform | Excelling points |
| MT4 | Very user-friendly
Supported by almost every broker Embedded expert advisors Free demo account |
| Ninja Trader | Cost-effective
Adaptable to futures as well as equities |
| Zulu Trader | Top notch support
Best when it comes to social trading Top notch traders to follow Free demo account |
| C-trader | Appealing user interface User-friendly |
| MT5 | Very user-friendly
Supported by almost every broker Embedded expert advisors Free demo account |
Most of the main broker firms offer the MT4 or MT5 platforms alongside other standard and custom tools. Please refer to best trading platforms and best forex brokers for more relevant information around trading platform and broker choice.