What are Forex Platforms?

By: Anne Durrell

A forex platform is downloadable software or an Internet-based service that lets you trade on the foreign currency exchange (forex) market. There are hundreds of forex platforms to choose from. This article lists a few of them, but the list is by no means comprehensive.

Forex Web Trader requires a minimum deposit of $25. It is a user friendly tool that aims to make trading simple. The website features a video that goes step by step through a typical trade. You can also open a $15,000, 21-day demo account that you can use to test out your skills without risking real money.

Marketiva has no minimum initial deposit. Upon opening an account, you get $5 and a virtual $10,000 for forex practice. The Marketiva website is clean, intuitive, and simply laid out, making it very easy to find the information you need.

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Finexo is a platform that offers great flexibility and options for beginning traders to seasoned professionals. You can open an account for $50, and have access to real-time news, charts, and around-the-clock support. At the bottom of the Finexo home page is a helpful, up to date "quot;Professional Forex Broker Analysis"quot; that offers a great market snapshot, even for those who don't trade in currencies.

Dukascopy is a Swiss premium forex broker that comes highly recommended. You have to put down $50,000 to get in, but you can open a 14 day demo account there that operates just like the real thing.

FXsol is made to be user friendly for beginner forex traders. This forex platform includes plenty of tutorials and guides to help new traders get up on the learning curve quickly. FXsol offers four flexible ways of trading forex, and offers a free, 30-day demo account, plus plenty of tutorial help.

AVAFX is a site that is meant for advanced forex traders. AVAFX is a forex platforms that includes options such as daily institutional analysis, fixed spreads, and 24-hour trading. It offers live chat and phone support, and lets you set up a $100,000 demo account. Minimum deposit is $100.

Easy-Forex is made to be simple to use. The minimum deposit is $200, and there are plenty of tutorials and guides to help both beginners to forex platforms and advanced traders. You can register with Easy-Forex without making a deposit, but once you do open a "quot;live"quot; account, you are given a rebate, and a number of forex platform guides to help you along.

Global Forex Trading is a good forex platform for those just starting out. There are plenty of tutorials and training materials to help beginners learn to trade currencies quickly. A $250 deposit is required to open an account, and you can open a demo account. The Global Forex Trading website is packed with useful information for every level of currency investor.

There are so many forex platforms that everyone interested in foreign currency trading should be able to find one that suits their specific needs. Research several before deciding on a forex platform. What is right for one investor may not be right for you.

Please also check out my other guide on acm forex and forex option trading

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What are Forex Platforms?

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