Forex Brokers and Online Forex Trading Platforms List

The Online forex market operates with a total turnover of Forex Market that can go as high as 7.2 trillion dollars each day. Being the most liquid financial market means that traders can enter the market anytime they want and get their profits easily.

Decreased requirements to trade the forex market, high speed internet and the advances in communications technology are all responsible for having driven this market to where it is today. These changes took the market from being limited to large financial institutions and multinational companies to the point that ordinary people can now trade and participate in the largest financial market in the world through Online Trading networks or what is called the interbank market.

Because of this new clientele, online Forex brokerage firms began improving their services and accessibility. Different platforms suitable for different types of traders have been designed to meet the needs of this new market. with accessible online currency platforms and software that is constantly being improved, brokers are finding that the popularity of the forex market is rapidly growing.

Many Online Brokers feature Micro accounts. These accounts allow their clients to register and open a forex account with a minimum margin of 5 dollars.

If you are interested in opening a forex trading account, the first thing that you will need is a computer with a high-speed internet connection. The high-speed internet connection is important for an effective trade to work. You need for you orders to be processed quickly.

Next, you will need to select a currency brokerage company, the company should provide you with a trading software to use. The platform is simply a software program that is essential to connect to the market. You download it to your computer and use it.

It is important that you choose a platform that you are comfortable using.

• It must provide real time information that is accurate and up-to-date.
• It must be secure, and stable.
• It should have charting tools to perform technical analysis
• It should also have a feature that will allow you to store your transactions history
• You should be able to execute orders with ease
• Easy to learn with

With all these features, you can really improve the way you trade in the forex market and also minimize the risk of losing money.

Consider opening a demo account, which is a practice account. This will allow you to try out the trading software and the market without risking any real money. By practicing with the demo account, you allow yourself the time to decide if this is actually the program that you would like to use.

Forex Brokers

STP stand for Straight Through Processing Network. With an STP you will be directly connected to the interbank network through the Straight Through Processing Network.

MetaTrader 4

The Best Forex Platform - Forex Trading Platforms List

Most traders will generally favor using an STP Broker because it is much easier to place transactions on STP execution

Traders who participate in Forex are investors who want to make a profit by buying currencies that are appreciating in value and selling the ones that are depreciating. To trade Forex online, one needs to open a forex account with a broker and deposit money to facilitate online Forex transactions.

Brokers offer online trading platforms that are designed to stream live currency quotes to their clients (speculators) so that the speculators can instantly execute transactions.

Once a trader chooses a Forex broker, they then download their trading software, install it on a computer with an internet connection. Then open an account and login to the platform to receive streaming quotes of currencies. This streaming date is graphically plotted on a grid forming what is known as the Forex charts. The trader can then place transactions through this software platform provided. Forex Brokers also offer Free Forex Demo Accounts which are free practice forex trading accounts that beginner traders can practice forex trading with.

Forex trades cannot be made directly on the online forex trading market, and can only be placed through an online forex trading broker, connected to the inter network of other banks, this is the network of banks used to facilitate currency exchange trading.

The most favored Forex Trading software is known as MetaTrader 4 Forex Trading Platform (or MT4) , MetaTrader 4 software is very easy to learn and has some of the best forex charts and this Metaquotes MT4 charting package comes with Forex Indicators for technical analysis of forex charts.

Many Forex Traders agree that the best forex trading platform online is the MetaTrader 4 software. When doing forex platform comparison most online forex traders compare other softwares as full of bugs, with a poorly designed user interface that is hard to use and navigate with, and sub-standard technical analysis forex tools to choose from.

Most Forex trading Brokers have even switched to MT4 platform after facing pressure from their clients to implement this online forex trading software. Some forex trading brokers opting to offer a choice between, their own forex trading software and also the MetaTrader 4 software, among other trading platforms like Currenex.

MetaTrader 4 Platform

The MT4 is a software for trading the online financial markets. The MT4 software has versions for both Forex trading platforms for PC computers and Forex trading platforms for mobile phone apps. The MetaTrader 4 platform is a forex tool used by online forex traders to get access to the market, analyze forex price charts and place forex orders through to their forex brokers using MT4 software. The MT4 software is owned by the broker from where you can download it for free from their website.

The Key features of the MetaTrader 4 Software - Desktop Version are:

• Extremely Fast Execution.
• Real time summary of client‘s order, account equity, floating profit and loss
• Chart based Click Transaction via MT4.
• Market Analysis Tools and Technical Analysis Tools - technical indicators
• Automated programming language and Expert Advisors (EA).
• Daily Account Statement Sent to Clients Email
• Complete technical analysis package, with wide range of built in indicators and charting tools.
• Multilingual user interface - English, Arabic, German, Spanish, French, Chinese, Russian

These features make the MT4 the most favored software.

As a trader you can download MT4 Software and practice trading with these Forex tools on a demo account.

MetaTrader 4 Mobile Software Version

Trading on your mobile allows you to manage your forex account from your portable mobile phone device, whether it is your smart phone or your Pocket PC. Mobile platforms offer a convenient way to keep a tab on your forex account when you don't have access to your desktop PC. From your mobile phone forex platform you can keep up with the market movements, analyze the movements and adjust your orders from the mobile phone. With mobile phone you can access financial markets from anywhere.

MT4 Mobile Platform - Forex Trading Platforms List

• Full features for management of accounts.
• Accessible from any location worldwide
• Currency charts
• 30 technical indicators - MetaTrader 4 indicators
• Support all types of orders
• Financial market news
• VGA mode support.

MT4 Mobile (Smartphone Edition)

• Full features for management of accounts.
• Accessible from any location worldwide
• Currency charts
• Technical indicators - MetaTrader 4 indicators
• Supports all types of orders.
• Financial market news

The MetaTrader 4 Mobile platform - Smartphone Edition is the mobile trader for smart phones operating under the MS Windows Mobile.