Listings that appear on this page and/or on this website are of products / companies / services from which this website may receive compensation. This may impact how, where and which products / companies / services we review and write about. This page may not include all available products, all companies or all services.

At FX Empire, we stick to strict standards of a review process.

Most of these brokers offer free demo accounts so you can test the brokers and their platforms with virtual money. Give it a try with some play money before using your own cash.

Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.

Headquarters:Building 25, MATAM, Haifa, Israel

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Headquarters:8050 SW 10th Street, Plantation, 33324

TradeStation International Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and has passport rights in the EEA (registration number 554431). TradeStation International Ltd acts as an introducing broker to TradeStation Groups affiliates and non-affiliates, such as Interactive Brokers (U.K) Limited. The material on this website is for information purposes only. Any reference on this Web site to TradeStation and its affiliated companies should not be construed as an offer or solicitation, directed to residents in jurisdictions where TradeStation or Interactive Brokers, by and through any of its affiliates, is not registered to do business. TradeStation International Ltd does not provide investment advice, trading advice, recommendations or strategic advice in respect of any security, group of securities, market segment or market. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. Bitcoin futures, options and CFDs are leveraged products and can result in losses that exceed deposits; therefore, you should not invest or risk money that you cannot afford to lose. TradeStation®, EasyLanguage® and the other company trademarks in the TradeStation Platform are owned by TradeStation Technologies, Inc., a technology research and development company affiliated with TradeStation International Ltd. Depending on the choice of account, the provision of brokerage and trading services to you is offered by TradeStation Securities, Inc, or Interactive Brokers (U.K) Ltd by means of the TradeStation Platform (or otherwise) and on such terms as you may agree with the respective broker-dealer. TradeStation International Ltd is not a party to any agreement that you may enter into with Interactive Brokers (U.K) Ltd for the provision of such services. We list educational workshops designed to demonstrate what we believe are the valuable benefits of using the TradeStation platform but do not endorse materials presented by third parties.

TradeStation International Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and has passport rights in the EEA (registration number 554431). TradeStation International Ltd acts as an introducing broker to TradeStation Groups affiliates and non-affiliates, such as Interactive Brokers (U.K) Limited. The material on this website is for information purposes only. Any reference on this Web site to TradeStation and its affiliated companies should not be construed as an offer or solicitation, directed to residents in jurisdictions where TradeStation or Interactive Brokers, by and through any of its affiliates, is not registered to do business. TradeStation International Ltd does not provide investment advice, trading advice, recommendations or strategic advice in respect of any security, group of securities, market segment or market. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. Bitcoin futures, options and CFDs are leveraged products and can result in losses that exceed deposits; therefore, you should not invest or risk money that you cannot afford to lose. TradeStation®, EasyLanguage® and the other company trademarks in the TradeStation Platform are owned by TradeStation Technologies, Inc., a technology research and development company affiliated with TradeStation International Ltd. Depending on the choice of account, the provision of brokerage and trading services to you is offered by TradeStation Securities, Inc, or Interactive Brokers (U.K) Ltd by means of the TradeStation Platform (or otherwise) and on such terms as you may agree with the respective broker-dealer. TradeStation International Ltd is not a party to any agreement that you may enter into with Interactive Brokers (U.K) Ltd for the provision of such services. We list educational workshops designed to demonstrate what we believe are the valuable benefits of using the TradeStation platform but do not endorse materials presented by third parties.Read ReviewMORE

Headquarters:25 Kolonakiou, Office 102 Zavos Kolonakiou Centre, Cyprus

Please note that forex trading and trading in other leveraged products involves a significant level of risk and is not suitable for all investors. Trading in financial instruments may result in losses as well as profits, and your losses can be greater than your initial invested capital. Before undertaking any such transactions, you should ensure that you fully understand the risks involved and seek independent advice if necessary.

Please note that forex trading and trading in other leveraged products involves a significant level of risk and is not suitable for all investors. Trading in financial instruments may result in losses as well as profits, and your losses can be greater than your initial invested capital. Before undertaking any such transactions, you should ensure that you fully understand the risks involved and seek independent advice if necessary.Read ReviewMORE

Headquarters:13-14 Basinghall str., City of London, EC2V 5BQ, UK

cTrader, Currenex, eToro Platform, Keystone, Marketspulse, Mirror Trader, MT4, MT5, Tradologic, Zulutrade

TradeStation International Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and has passport rights in the EEA (registration number 554431). TradeStation International Ltd acts as an introducing broker to TradeStation Groups affiliates and non-affiliates, such as Interactive Brokers (U.K) Limited. The material on this website is for information purposes only. Any reference on this Web site to TradeStation and its affiliated companies should not be construed as an offer or solicitation, directed to residents in jurisdictions where TradeStation or Interactive Brokers, by and through any of its affiliates, is not registered to do business. TradeStation International Ltd does not provide investment advice, trading advice, recommendations or strategic advice in respect of any security, group of securities, market segment or market. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. Bitcoin futures, options and CFDs are leveraged products and can result in losses that exceed deposits; therefore, you should not invest or risk money that you cannot afford to lose. TradeStation®, EasyLanguage® and the other company trademarks in the TradeStation Platform are owned by TradeStation Technologies, Inc., a technology research and development company affiliated with TradeStation International Ltd. Depending on the choice of account, the provision of brokerage and trading services to you is offered by TradeStation Securities, Inc, or Interactive Brokers (U.K) Ltd by means of the TradeStation Platform (or otherwise) and on such terms as you may agree with the respective broker-dealer. TradeStation International Ltd is not a party to any agreement that you may enter into with Interactive Brokers (U.K) Ltd for the provision of such services. We list educational workshops designed to demonstrate what we believe are the valuable benefits of using the TradeStation platform but do not endorse materials presented by third parties.

TradeStation International Ltd is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom and has passport rights in the EEA (registration number 554431). TradeStation International Ltd acts as an introducing broker to TradeStation Groups affiliates and non-affiliates, such as Interactive Brokers (U.K) Limited. The material on this website is for information purposes only. Any reference on this Web site to TradeStation and its affiliated companies should not be construed as an offer or solicitation, directed to residents in jurisdictions where TradeStation or Interactive Brokers, by and through any of its affiliates, is not registered to do business. TradeStation International Ltd does not provide investment advice, trading advice, recommendations or strategic advice in respect of any security, group of securities, market segment or market. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. Bitcoin futures, options and CFDs are leveraged products and can result in losses that exceed deposits; therefore, you should not invest or risk money that you cannot afford to lose. TradeStation®, EasyLanguage® and the other company trademarks in the TradeStation Platform are owned by TradeStation Technologies, Inc., a technology research and development company affiliated with TradeStation International Ltd. Depending on the choice of account, the provision of brokerage and trading services to you is offered by TradeStation Securities, Inc, or Interactive Brokers (U.K) Ltd by means of the TradeStation Platform (or otherwise) and on such terms as you may agree with the respective broker-dealer. TradeStation International Ltd is not a party to any agreement that you may enter into with Interactive Brokers (U.K) Ltd for the provision of such services. We list educational workshops designed to demonstrate what we believe are the valuable benefits of using the TradeStation platform but do not endorse materials presented by third parties.

Please note that forex trading and trading in other leveraged products involves a significant level of risk and is not suitable for all investors. Trading in financial instruments may result in losses as well as profits, and your losses can be greater than your initial invested capital. Before undertaking any such transactions, you should ensure that you fully understand the risks involved and seek independent advice if necessary.

Please note that forex trading and trading in other leveraged products involves a significant level of risk and is not suitable for all investors. Trading in financial instruments may result in losses as well as profits, and your losses can be greater than your initial invested capital. Before undertaking any such transactions, you should ensure that you fully understand the risks involved and seek independent advice if necessary.

How to Choose the Best Forex Platforms and Softwares

What to Look For When Choosing A Trading Platform

Proprietary platform or Commercial/Turnkey platform

Equally as important as the Forex broker you choose to work with is the trading software you will use each day. To get the most out of your trading day you should interact with a variety of different types of technology. This includes more than just the trading platform to actually execute the trades, but extends to the robots, auto trading software, charting packages, and signal services. The trading process in the Forex market is an interplay of interaction between various software ranging from the trading platform to other add-ons such as indicators and expert advisors. Both beginners and intermediate level traders should be familiar with what is out there and available to them for their Forex trading activities.

Being able to participate in retail forex trading requires a sound knowledge of the use of the trading software that has been designed for this purpose. The trading software provides direct access to the market and can also give you a trading edge. It is therefore essential that you pick the software that you will use to trade very carefully, as the level of understanding of the software and the tools and its functions will determine the extent of success you will achieve in the market.

While we are focusing here on choosing a Trading Platform it is important to note that it goes hand in hand with selecting the best Forex broker for you. You have to like the technology that the broker has on offer. In helping you decide on the best Forex trading software or Forex trading platform for you, you must be able to answer some basic questions. The questions posed below give some insight as to things the trader should consider when choosing a platform.

This is really important to know as you want to get the best deal when placing trades. On each trade, you execute you will first have to cover the price of the spread (eg. The brokers charge which is the difference between the buy and sell price of an asset) before you can see a profit.

The requirements of different types of traders are varied. For instance, there is software that is especially dedicated to beginners or pros.

Beginners will certainly require a stripped down simplistic version of a trading platform. It will need to be user-friendly and simple to understand. Beginner traders will not necessarily need indicators and will probably not execute complex orders. Beginners can find trading sentiment bars (showing how other traders are trading) and copy trading services particularly useful. They should refer to charts of course, but perhaps wont yet be ready to implement technical studies.

Advanced traders will require much more functionality on their platforms, including advanced indicators on their charts and tools. They will usually require a source of news directly on the platform and may even wish to trade directly from charts. They will often use Electronic Advisers (EAs) or other code add-ons, which is a type of algorithm that they can implement directly into the platform.

Proprietary platform (eg. Built especially for the broker)

Generalized or Turnkey (like the MT4 or CTrader).

Charting technology that finds patterns in the trend lines (eg. AutoChartist)

Market analysis software like Trading Central which gives you trade ideas

Auto trading or copy trading software that lets you choose other traders to follow, while you sit back and let the trading be done for you.

Signal services (like the FXEmpire one) which send you to trade alerts by SMS or email to identify trading opportunities for you.

Trading Tools like economic calendar, currency converter, earnings report stream, commission calculator etc.

Does my preferred forex broker offer the trading platform I am used to?

If you want to trade for instance with MetaTrader4 as many traders do, first check if your broker of choice offer this. Perhaps you dont get along with the MT4 and prefer customizable proprietary technology. You can also refer to our broker reviews which shows you all the technology offered by the brokers.

Platforms are almost always free to use. Signal services usually require a subscription fee as do charting software and auto trading services.

Up to $1000 A trader with just $1,000 capital will find it hard to find a true ECN platform (Electronic Communications Network where the broker passes on the trades to third parties) that accepts this capital size, as the minimum deposit requirements for ECN accounts are usually very high sometimes $100,000+.

Remember most brokers do also offer demo-trading accounts to test drive their platforms before you commit real cash. A market maker broker will offer a micro or mini account for this capital. FXCM, for instance, have a mini account that requires just $50 deposit.

$1001-$5000 Most brokers will offer a mini trading account for a capital of this size including some NDD brokers. This is considered the standard account for beginners and more experienced traders.

$5000+ Anything above the $5000 mark will qualify for a Pro account. This account type will come with some added benefits like better trading conditions and extra trading features like signals.

Are you a money manager? If so you will require a PAMM account which gives you access to trading multiple accounts with your email address. For instance, the MT4 Multi-terminal enables the trader to implement a single trade on several accounts at the same, which gives better handling than if several instances of the MT4 were to be used to trade all the accounts.

Do you have preferences over the assets you like to trade? If so check that the platform you are trading on gives you access to them.

Proprietary platforms are unique platforms which are designed by a brokerage to suit their unique product offerings. Some brokers decide to go this route so as to give something extra to their clients beyond what the turnkey platforms offer. For instance, the eToro OpenBook/CopyTrader software is proprietary software from eToro, specifically created for this brokers social trading program. You will not find a replica of this software anywhere else. The Plus500 proprietary platform for web, PC and mobile are extremely user-friendly which makes it perfect for new traders, plus it has enough capability for more experienced traders to implement indicators and strategies onto the platform charts.

In contrast, the MetaTrader4 is a turnkey/commercial platform which can be customized by the software company to suit the brokers brand, without any alteration in the features and functions of the platform.

There are pros and cons to the use of proprietary platforms. Let us use the Plus500 platform and the MT4 to illustrate this.

Brokers design and plan their proprietary platforms carefully to meet the needs of their traders. They will factor in a whole range of functionality in order to cater to different types of a trader and sometimes will offer a simple and a pro version of their platform catered specifically to a beginner or more expert traders.

For proprietary platforms, traders may be able to get some features that they would not get anywhere else with a particular broker. For instance, Plus500s award-winning platform allows traders to trade in over 50 markets and sends alerts when the assets reach certain levels. They offer their proprietary technology across multiple platforms eg. mobile, web and download.

often proprietary platforms will allow traders to trade directly of charts and may give them the option for one-click trading or confirmed trade execution.

Proprietary platforms can be restrictive. They may be stripped down or oversimplify the trading process. Or they may not have as much functionality as the popular platforms.

There are many add-ons such as EAs (Electronic Advisers) and strategies that can be programmed and implemented into the turnkey technology such as the MT4 platform. There also APIs eg. Bridges to other technology types from the turnkey technology, such as using a shared wallet for many different trading vehicles

Ability to implement add-ons such as EAs (Electronic Advisors) in order to create trading signals based on a specific strategy.

Suitable for all levels of trader from beginners through to advanced, can sometimes be a little complicated for absolute beginners as it contains many features

Some brokers offering the MT4 will not allow traders from certain countries to open live accounts. Affected traders can simply search for another MT4 broker that does not have such restrictions and open their accounts there. This is an advantage seen with commercial platforms.

Commercial platforms are usually available for download, web and for mobile trading too.

Usually feature a wide variety of assets covering a broad spectrum of markets

Usually fast execution times and low slippage with low downtime.

Tend not to be ultra modern or feature advanced trading tools such as calendar, news feeds, reports, tutorials

The turnkey platforms are often very generic and are not broken down to cater for beginner or expert traders. They are also not highly customizable as proprietary usually are.

Now that we have some information about what software is used in the forex market, what are the most popular trading software used in forex today? Here are some of them.

This software is mostly used by retail forex traders. They have features which enable retail traders to easily adapt to the rigors of the market since these traders do not have professional experience or training. The most popular retail forex trading software on this list is as follows:

The MetaTrader4 and its successor, the MetaTrader5 (MT5) are undoubtedly the most widely used forex trading platforms in the retail segment of the market. This is because of the ease of use, its array of tools, compatibility with trading software, availability among brokers and the presence of a marketplace where traders can gain access to a variety of trading software, tools, scripts, indicators, expert advisors and other services, directly from the trading platform. The MetaTrader series was developed by Metaquotes Inc, a Cyprus-based company. The company also took advantage of innovations in the technology space to develop mobile and web-based versions of the software. The platform was developed as a turnkey solution, enabling various brokers to have the software adapted to their own brands. In terms of universality, the MT4 comes first above other retail forex trading software. There is virtually no retail forex broker that does not offer this software.

ActTrader is a JAVA based platform. The advantage of this software is that it offers a unique web-based version of this platform, thus allowing traders to log in from any internet-connected computer that runs with JAVA.

Other retail forex platforms are those offered by JForex, NinjaTrader and TradeStation.

This software is specifically built for institutional traders. These are traders with professional experience and training. The tools provided by this software are not meant for retail traders as the level of trading here is beyond the comprehension of retail participants in the market. This software is also called Level II trading software. Examples of this software are as follows:

cTrader was developed by Spotware Systems, a company based in Cyprus. This software was built as a transition software. In other words, it incorporates features of retail forex trading software and the fully professional trading software. It features more time frames, more tools, a better charting package and a clean interface. However, it can only accept add-on software that has been coded with cAlgo.

The Currenex ECN platform has been in the market for some time and provides traders with true ECN conditions. It is not built for beginners but for professional traders.

The Fortex 6 platform is another example of an ECN platform. It works hand in hand with the Algox platform, which is the platform on which algorithms for the Fortex 6 are built.

The software mentioned below is not trading software offered by brokers but is auxiliary software that complements the core trading software in the market. You may like to call this software the support software which provides value-added service to the core trading software.

Some software is designed to create better charting of instruments and enhanced technical analytical tools. This software creates stand-alone charts which can be better visualized and analyzed by traders. There are free and paid versions of this software.

These are usually software services that are designed to provide traders with trade alerts on what to buy or sell at any given time. Most of these types of software are semi-automated, and provide just buy or sell recommendations either as pop-up alerts on the computer screen or as messages to the traders email or mobile phone (SMS and push notifications). The trader is left with the option of trading these signals or ignoring them. Signals are usually generated from the back end of the software and the front end can be programmed to deliver the signals to the trader as required. Take a look at the FXEmpire signal service.

Forex robots are automated trading software. They can be attached to the charts to analyze and place trades automatically based on their algorithms. This software can range from the simplified versions seen on retail forex platforms, to the highly complex algorithmic quants used for high-frequency trading in institutional setups.

Forex Virtual Dedicated Servers (forex VDS) are commercial services which provide cloud-based remote connections for local computers of traders so that they can host their trading software in the cloud for continuous operations. They are fast becoming popular as they are a very good way to ensure that software is not affected by downtimes and power failures.

This software is mostly used in social trading platforms to enable traders to copy the trades of those traders they have decided to follow. So instead of copying their trades manually (a time-consuming process which is prone to errors), the use of copy trader software simply does the job automatically once the choice of a leader trader has been made. More experienced traders can choose to become trade leaders in order to bring in an additional revenue stream.

Strategy builder software allows traders with no previous coding experience to build their own expert advisors and optimize them using tools already provided by the strategy builder software. All the trader needs to do is to indicate what parameters are to be fulfilled on the charts and the software automatically compiles the information into a trading software.

The purpose of trading software is to enhance a traders trading results. When used correctly trading software can give insight into the market or even trade on your behalf. To test all of the available software on the market would be almost impossible to take a look at the list that we have compiled below to help you make your decision about what to use.

The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.

Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.

The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third partys services, and does not assume responsibility for your use of any such third partys website or services.

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FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.