Please note, this software comparison focuses on forex and CFD trading platform suitable for short term trading with leverage. If you click on the link, you will be taken to the publishers website for you to buy directly through the publisher. Even though we do get a referral fee, you pay the same price as all clients of the publisher.

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Pepperstone Review IC Markets Review FP Markets Review CMC Markets Plus Review eToro Review IG Review FXCM Review. Home » Best Forex Platforms » Forex Trading Software.

Written by Justin Grossbard Written by Justin Grossbard Co Founder. Fact Checked We double-check broker fee details each month which is made possible through partner paid advertising. Learn more this here. Best Forex Trading Software The best software for forex trading with the best trading tools is Pepperstone - Best Forex Trading Software IC Markets - Low Fee MetaTrader 4 Forex Broker FXCM - Good for NinjaTrader Trading Platform eToro - Best Social Forex Trading Software City Index - Good Trading Platform for Beginner Forex Traders ThinkMarkets - Best Expert Advisors Robots With Backtesting FxPro - Top Broker With cTrader With Automate Axi - Good AutoChartist Technical Analysis Tools.

Visit Site. Our Rating. Review Of Pepperstone. Review Of IC Markets. Review Of Plus Review Of FxPro. City Index Review. ASIC Australia. FCA UK. MAS Singapore. FSCA South Africa. CYSEC Cyprus. FMA New Zealand. DFSA Dubai. BaFin Germany. FSA Seychelles. SCB Bahamas. Raw Spread. Commissions USD Base. Minimum Deposit. Swap Free Account. No Inactivity Fees. Funding Methods. No Funding Fees. Currency Pairs. Index CFDs. Share CFDs. Commodities CFD. Retail Max Leverage Australia.

Max Leverage Australia. Retail Max. Leverage The United Kingdom. Leverage Europe. Leverage Singapore. Leverage Kenya. Leverage South Africa. Leverage With offshore regulators. MetaTrader 4 MT4. MetaTrader 5 MT5. Proprietary Platform. Automated Trading. Standard Stop Loss. Guaranteed Stop Loss. Demo Account. Pepperstone Offers Tight Spreads And Low Commission When trading CFDs and forex with Pepperstone, traders can choose between a Standard Account, Razor Account and Swap-Free Account Type.

Razor Spread comparison. Our Rating The overall rating is based on review by our experts. IC Markets Is The Best MetaTrader 4 Forex Broker As an IC Markets customer, traders can choose from a Raw Spread account, Standard Account and cTrader Account.

Standard Account: Spreads from 1. MetaTrader 4 Raw Account and Standard Account holders gain free access to the MetaTrader 4 trading platform and its extensive range of advanced trading tools.

Fast no dealing desk NDD order execution with latency averaging 1ms or less. Equinix servers are located in New York. stop loss Available as a desktop trading platform on both Windows and Mac computers, mobile trading apps for iOS or Android devices, as well as a web trader platform online. MetaTrader 5 The MetaTrader 5 platform is the latest MetaTrader software with certain improvements from its predecessor.

Improvements to the MetaTrader 5 platform include: 38 preinstalled technical indicators and 21 timeframes Expert Advisors MQL5 Multi-currency, multi-thread backtesting Advanced pending order types cTrader cTrader is a platform known for its high-speed execution of orders with the trading platform providing a unique design and smooth user interface experience. IC Markets Top Social-Copy Trading Tools Myfxbook AutoTrade AutoTrade is available to use for all IC Market clients with a next-generation copy trading system by Myfxbook.

ZuluTrade ZuluTrade is an ideal solution for traders who cannot commit time to build their own strategies. FXCM Is The Best For The NinjaTrader Trading Platform NinjaTrader is an advanced trading platform with sophisticated analytical and automated charting capabilities. Place and modify existing orders directly from the chart window Customizable hotkeys to place and modify orders seamlessly and directly from the pricing chart Very-low latency order submission and modification Arrange windows across multiple monitors Analyze crypto markets for free Automated Trading The NinjaTrader platform provides a range of trading tools for suiting all levels of experience from beginner to advanced, with no auto trading programming knowledge required.

eToro Has The Best Social Forex Trading Platform eToro is an established and popular social trading network with traders from over different countries. Web Trader The City Index web trader platform is powered by HTML5 technology and offers a user-friendly, yet customizable workspace for those new to trading.

Order types available to City Index clients include: Stop-loss orders Limit orders Trailing stops One cancels the other OCO If-done orders Guaranteed stop-loss orders GSLO costs apply Mobile Apps Mobile trading apps are available for iOS and Android devices. ThinkMarkets Is The Best Forex Broker For Expert Advisors ThinkMarkets is the best broker for backtesting and Expert Advisors. I've been a professional trader since and in I became World Champion using just 4 automated trading systems.

In I founded Unger Academy, where I teach my method of developing effecting trading strategies: a scientific, replicable and universal method, based on numbers and statistics, not hunches, which led me and my students to become Champions again and again.

Now I'm here to help you learn how to develop your own strategies, autonomously. This channel will help you improve your trading, know the markets better, and apply the scientific method to financial markets. Becoming a trader is harder than you think, but if you have passion, will, and sufficient capital, you'll learn how to code and develop effective strategies, manage risk, and diversify a portfolio of trading systems to greatly improve your chances of becoming successful.

Unger Academy S. Editorial Director: Francesco Placci. AGCOM ROC registration on ISSN Andrea Unger and Unger Academy can not and do not make any guarantees about your ability to get results or earn any money with our ideas, information, tools, or strategies. Nothing on this page, any of our websites, or any of our content or curriculum is a promise or guarantee of results or future earnings, and we do not offer any legal, medical, tax or other professional advice.

Any financial numbers referenced here, or on any of our sites, are illustrative of concepts only and should not be considered average earnings, exact earnings, or promises for actual or future performance. Use caution and always consult your accountant, lawyer or professional advisor before acting on this or any information related to a lifestyle change or your business or finances. You alone are responsible and accountable for your decisions, actions and results in life, and by your registration here you agree not to attempt to hold us liable for your decisions, actions or results, at any time, under any circumstance.

Free Products Free Book Free Masterclass. Program One Year Target. Technical Analysis Keltner Channel Supports and Resistances Bollinger Band Width Stop Loss RSI ADX Bollinger Bands MACD. How to How to Avoid Scams How To Use Leverage How to Use Indicators How to Trade with Little Capital How to Backtest a Strategy How to Manage Emotions How to Choose the Best Platform How to Choose the Broker.

Guides Position Sizing Guide Options Trading Guide Investing Guide Algo Trading Guide Basic Trading Terms Technical Analysis Guide Crypto Trading Guide Main Trading Orders. Best of Best Markets to Trade Best Trading Platforms Best Online Brokers Best Trading Books Best Trading Indicator Best Market Data Provider Best Cryptocurrency Exchanges Best VPS.

Need More Help? Book Your FREE Strategy Session With Our Team Today! Software Requirements: The Trading Platform and Data Feed Supply In order to begin with automated trading, I recommend that you use MultiCharts together with the IQFeed data stream.

How to Reduce Costs Initially, if you want to reduce the costs you pay for the platform and the data supply, you can choose Tradestation.

Robustness tests give you an estimate of the risks and performance deterioration you can expect to encounter in live trading. StrategyQuant includes a number of inbuilt robustness tests, ranging from out-of-sample testing to walk-forward optimizations and Monte Carlo simulations. The inclusion of these robustness tests in your development roadmap will help you weed out weak strategies long before you risk real money.

I always include some robustness testing in my strategy development, since robustness or the lack of it can take months to be reflected in live trading. We will use it to estimate worst-case drawdowns later on. StrategyQuant comes bundled with a strategy analysis tool called QuantAnalyzer.

Analysis like the one below will be helpful when deciding on time-based entry filters and exits for your strategy. QuantAnalyzer will be referenced at various points throughout the development process, for example during forward testing and portfolio composition. There is also a FREE version, where you can obtain detailed analyses of your MT4 backtests, merge strategies to create a portfolio, and experiment with various trading filters and money management rules. The inclusion of these three key functionalities in a single platform makes it both easier and faster to produce profitable and robust strategies.

To purchase StrategyQuant Pro , use coupon TACT to get USD off. StrategyQuant Ultimate even comes with a Business module that helps you sell your strategies on the MQL5 Marketplace. To purchase StrategyQuant Ultimate , use coupon TACT-ULTIMATE to get USD off.

Accurate price data is essential for reliable backtesting. A good dataset covers a long historical period and contains minimal gaps. As of , you should have little trouble obtaining at least 10 years of data for liquid forex markets. Many forex brokers provide free historical data at 1-minute precision, which can be downloaded through MT4. This means the OHLC prices for every minute in your historical period can be modeled in your backtest.

For the forex majors, data since is available. A guide to downloading free historical data can be found here. If you want to maximize your backtest precision, you will have to use tick data instead. You may require such precision if your algorithm takes advantage of small price movements, or often executes actions in the middle of a bar.

Since I mainly trade forex, I download both one-minute and tick forex data from Dukascopy, for use during the strategy generation and robustness testing mentioned above. Tickstory and Tick Data Suite are another two popular providers of tick data.

I have used Tickstory with success. To learn more about whether you require a tick backtest, and some sources of quality tick data, refer to my article on tick backtesting. If you are trading a decentralized market such as forex, note that data will vary slightly from source to source. So there you have it! This will help you focus your development time and effort on the most promising markets.

Access day FREE trial here! Get up to USD discount! Try the FREE version here! The MACD is a simple and effective momentum indicator. The Laguerre RSI attempts to improve the responsiveness of the regular RSI, whilst keeping whipsaw trades to a minimum.

Here I explain its inner workings and show you how to build a trend following strategy around it. Have you heard of fixed ratio money management? How does it compare to the popular fixed fractional approach? The ability to efficiently trade a diversified portfolio of strategies is one of the biggest advantages of algorithmic trading. The QQE is a mysterious indicator that sometimes pops up in trading forums.

Does it deserve a place alongside the more traditional momentum indicators like the RSI and CCI? Bollinger Bands are great at detecting overbought and oversold conditions.

Trailing stop losses are a popular feature in many trend following systems. Bollinger Bands, the ever-popular technical indicator among retail traders, actually contain two inbuilt trailing stops.

With over 20 years of investing experience and 10 years of trading, Justin co-founded Compare Forex Brokers in He has worked within the foreign exchange trading industry for several years and for several of the largest banks globally.

Justin achieved Honours in Commerce and has a Master's degree from Monash University. He also owns Innovate Online offering digital marketing services with over 20 employees. Fact Checked. Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site.

When trading CFDs and forex with Pepperstone, traders can choose between a Standard Account, Razor Account and Swap-Free Account Type. Standard account types offer a simple fee structure, with no additional commission fees charged on top of the spread. Standard accounts are available with MT4 or MT5. As a Razor Account holder, traders gain access to tight spreads while paying commission fees that vary between each trading platform, with MT4, MT5 and cTrader available. Lastly, Swap-Free accounts are designed for Islamic traders who require an account type that complies with Sharia Law.

Standard account types are an excellent choice for those new to currency trading, as traders can avoid complicated commission fee calculations and easily calculate potential profits and losses. While spreads are wider by at least 0. spreads are taken from each broker's website and updated monthly.

Compare Standard Account Spreads. While standard accounts may suit beginner traders wanting a simple fee structure, Razor accounts give traders access to ultra-tight ECN-style spreads and are an top choice for experienced traders that day trade, scalper, trade with algorithms, professional traders, and active traders. Compared to other top forex brokers, Pepperstone provides some of the lowest spreads available to retail investor accounts, with spreads as low as 0. To achieve an ECN-like trading environment, orders are executed with no dealing desk NDD and straight-through-processing STP.

NDD and STP execution allow Pepperstone to connect traders with top-tier liquidity providers and some of the best prices available on the currency markets. To keep your spreads tight and avoid artificially changing prices set by liquidity markets, Pepperstone charges Razor account holders a commission fee rather than wider spreads.

Commission costs are:. Commission costs compare well against other brokers. If you are trading many lots, commission fees, much like spreads, can add up. Pepperstone accounts gain access to the same software features, with the only difference between account types being spreads and commission fees.

Features provided to both Standard and Razor account types include:. An Islamic account is available with no swap fees also known as overnight financing fees or holding fees. Available with both Standard and Razor account pricing, Islamic accounts are designed to be compliant with Sharia law, where interest-based swap fees are not permitted. Rather, Islamic account holders pay flat rate swap fees that vary between currency pairs. Quick execution with no delays is ideal for forex day trading, expert advisors and scalping as the chances of slippage due to execution lag are greatly reduced.

The chart below shows the average speed of order executions, along with other forex brokers. Fast market orders increase your chance of orders being filled at your requested size and price when the broker receives them.

This means you are less likely to need to deal with partial fills, re-quotes or slippage. Pepperstone offers fast execution of limit orders with details of the results shown below. Fast execution ensures help ensure that your buy-limit or sell-limit will transact when your price point is triggered.

Pepperstone offers the best forex trading platform with the most popular software as shown below. Pepperstone offers the most popular forex trading platform on the market, MetaTrader 4.

When using MT4, traders gain access to advanced charting tools, algorithmic trading expert advisors plus a large marketplace and trading community. Main MT4 features include:. MT4 is available as a desktop trading platform compatible with Mac and Windows computers, a mobile app for Android and iOS devices, or a web trader platform accessible via any browser.

MetaTrader 5 is the latest release from MetaQuotes with many improvements over MT4. MT5 is the best forex trading software and has been designed to offer a new experience with faster processing times and like MT4, MT5 is available as a desktop trading platform, trading apps or as web trader platform.

MT5 allows hedged positions for both account types with a wider offering of pending order types than MT4. Exceptional features on MT5 provide a new trading experience with advanced tools and optimized trading. Users can easily customize their workspace while using the MQL5 programming language to automate trading with EAs.

Key features and benefits of MetaTrader Smart Trader Tools are an add-on package available to download, consisting of 28 Expert Advisors and technical indicators to assist customers with developing automated and complex trading strategies.

cTrader platform offers advanced trading capabilities with fast entry, execution, and coding customization. Created by Spotware, cTrader is suited for both beginner and advanced traders and is one of the popular platforms available to trade forex. As an IC Markets customer, traders can choose from a Raw Spread account, Standard Account and cTrader Account. Each account type charges different spreads and commissions and is available on specific trading platforms.

When trading forex, traders can leverage positions by , regardless of account type. IC Market offers over financial instruments available to trade with low spreads and commissions:.

Raw Account and Standard Account holders gain free access to the MetaTrader 4 trading platform and its extensive range of advanced trading tools. As well as the built-in charting and trading tools, MT4 users can download IC Markets Advanced Trading Tools. The MetaTrader 5 platform is the latest MetaTrader software with certain improvements from its predecessor.

Like MT4, traders can enjoy trading with no dealing desk, no prices requote, or any manipulation price on the IC Market trading platform. Improvements to the MetaTrader 5 platform include:. cTrader is a platform known for its high-speed execution of orders with the trading platform providing a unique design and smooth user interface experience. cTrader has no restrictions on trading with some of the best trading conditions for scalping and high-frequency trading.

Only available through an IC Markets cTrader account type. AutoTrade is available to use for all IC Market clients with a next-generation copy trading system by Myfxbook. AutoTrade allows you to copy trades from any system directly into your MetaTrader 4 account.

Myfxbook AutoTrade is available only for live trading with full control of your account and no hidden fees. ZuluTrade is an ideal solution for traders who cannot commit time to build their own strategies. ZuluTrade clients can follow trading from , Zulu traders from countries. The advanced copy trading platform offers features such as:.

NinjaTrader is an advanced trading platform with sophisticated analytical and automated charting capabilities. The software platform offers preloaded chart styles with hundreds of technical indicators, with a collection of artful drawing tools for charts. When using NinjaTrader, FXCM customers can load multiple time-frames and markets on a single chart, designed to not miss any market patterns.

Traders can configure hundreds of indicators quickly and easily making for an efficient trading environment. The NinjaTrader platform provides a range of trading tools for suiting all levels of experience from beginner to advanced, with no auto trading programming knowledge required.

Algorithmic strategies can be written using the C programming language, while Automated Trade Management ATM strategies allow users to automate order and risk management. Multiple ATM strategies are available for use in risk management or automated trade execution and traders can fully customize trailing stops quickly in fractions of a second. To assess and optimize automated trading strategies, you can utilize the NinjaTraders backtesting suite. Another tool to save time spent analyzing markets looking for trading opportunities is the brokers Market Analyser tool that traders can program to scan different financial markets, with advanced alerts notifying traders of market movements.

eToro is an established and popular social trading network with traders from over different countries. The social trading platform connects traders together by sharing ideas, trading decisions, and strategies on a news feed.

It is easy to find popular investors to follow and copy, with users able to view their trading history and success, risk profile and location. As well as copying individual popular investors, eToro customers can utilize the brokers CopyPortfolio feature where traders can invest in bundles of financial instruments. Two types of portfolios are available:.

When trading with City Index, customers gain access to thousands of financial instruments, ranging from forex markets to Cryptocurrency markets. The City Index web trader platform is powered by HTML5 technology and offers a user-friendly, yet customizable workspace for those new to trading.

To minimize the high risk of forex trading, customers can utilize risk management tools. Real-time calculators keep you updated on margin requirements, while order types allow you to predefine order entry and exit prices.

Order types available to City Index clients include:. Mobile trading apps are available for iOS and Android devices. Both versions of the City Index mobile app allow users to trade efficiently on the go and across multiple devices. To help smartphone traders stay up to date with financial markets, the mobile app offers a watch list feature along with real-time Reuters news and an economic calendar. iOS and Android apps allow traders to perform technical analysis from their devices.

With multiple timeframes, chart styles and over 60 technical indicators, analysis is user-friendly from your mobile phone. As with the web trader platform, a range of basic and advanced order types are available to manage risk, including GSLOs.

ThinkMarkets is the best broker for backtesting and Expert Advisors. The broker offers both MT4 and MT5, with EA backtesting abilities varying between the two MetaQuotes trading platforms. Unlike some brokers, ThinkMarkets enforces no restrictions on Expert Advisors, forex robots and indicators running at the same time, with easy integration of EAs into the trading platforms.

While EAs are available on both MT4 and MT5, MetaTrader 5 is the recommended platform for algorithmic trading strategies and backtesting.

Backtesting algorithmic trading strategies on the MetaTrader platforms allow traders to test and optimize their EAs against historical data. As a ThinkMarkets customer, traders can develop or download Expert Advisors and custom technical indicators for the financial assets:.

FxPro offers the cTrader which is a powerful forex trading platform with a friendly design. To access the trading software, the web platform provides scalpers quick trade execution within a modern, sleek interface.

For a better experience while using our Service, we may require you to provide us with certain personally identifiable information, including but not limited to your name, email, phone number, and postal address. Notify of. com Has The Best Range of Platforms Markets. Before investors start trading with real money, a Pepperstone demo account can be opened with a virtual balance provided to practize forex trading. I have used Tickstory with success. Severability If any provision of these Terms is found to be invalid under any applicable law, such provisions shall be deleted without affecting the remaining provisions herein. We value your trust in providing us your Personal Information, thus we are striving to use commercially acceptable means of protecting it.

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